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Name | Symbol | Market | Type |
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Inter 2042 | LSE:42BI | London | Medium Term Loan |
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TIDM42BI
RNS Number : 9595J
Inter-American Development Bank
22 December 2015
PRICING SUPPLEMENT
Inter-American Development Bank
Global Debt Program
Series No: 541
MXN 139,000,000 4.15 per cent. Notes due December 18, 2019 (the "Notes")
Issue Price: 100.00 percent
No application has been made to list the Notes on any stock exchange.
HSBC
The date of this Pricing Supplement is December 15, 2015
Terms used herein shall be deemed to be defined as such for the purposes of the Terms and Conditions (the "Conditions") set forth in the Prospectus dated January 8, 2001 (the "Prospectus") (which for the avoidance of doubt does not constitute a prospectus for the purposes of Part VI of the United Kingdom Financial Services and Markets Act 2000 or a base prospectus for the purposes of Directive 2003/71/EC of the European Parliament and of the Council). This Pricing Supplement must be read in conjunction with the Prospectus. This document is issued to give details of an issue by the Inter-American Development Bank ("Bank") under its Global Debt Program and to provide information supplemental to the Prospectus. Complete information in respect of the Bank and this offer of the Notes is only available on the basis of the combination of this Pricing Supplement and the Prospectus.
Terms and Conditions
The following items under this heading "Terms and Conditions" are the particular terms which relate to the issue the subject of this Pricing Supplement. These are the only terms which form part of the form of Notes for such issue.
1. Series No.: 541 2. Aggregate Principal MXN 139,000,000 Amount: 3. Issue Price: 100.00 per cent. of the Aggregate Principal Amount 4. Issue Date: December 18, 2015 5. Form of Notes Bearer only. The Notes (Condition 1(a)): will initially be represented by a temporary global note in bearer form (the "Temporary Bearer Global Note"). Interests in the Temporary Bearer Global Note will, not earlier than the Exchange Date, be exchangeable for interests in a permanent global note in bearer form (the "Permanent Bearer Global Note"). Interests in the Permanent Bearer Global Note will be exchangeable for definitive notes in bearer form ("Definitive Bearer Notes"), with all Coupons in respect of interest attached, in the following circumstances: (i) if the Permanent Bearer Global Note is held on behalf of a clearing system and such clearing system is closed for business for a continuous period of fourteen (14) days (other than by reason of holidays, statutory or otherwise) or announces its intention to permanently cease business or does in fact do so, by any such holder giving written notice to the Global Agent; and (ii) at the option of any such holder upon not less than sixty (60) days written notice to the Bank and the Global Agent from Euroclear and Clearstream, Luxembourg on behalf of such holder; provided that no such exchanges will be made by the Global Agent, and no Noteholder may require such an exchange, during a period of fifteen (15) days ending on the due date for any payment of principal on the Notes. 6. Authorized Denomination(s) MXN 10,000 (Condition 1(b)): 7. Specified Currency Mexican Peso ("MXN") (Condition 1(d)): (the lawful currency of the United Mexican States) 8. Specified Principal MXN Payment Currency (Conditions 1(d) and 7(h)): 9. Specified Interest MXN Payment Currency (Conditions 1(d) and 7(h)): 10. Maturity Date December 18, 2019 (Condition 6(a); The Maturity Date is Fixed Interest Rate): subject to adjustment in accordance with the Modified Following Business Day Convention with no adjustment to the amount of interest otherwise calculated. 11. Interest Basis Fixed Interest Rate (Condition (Condition 5): 5(I)) 12. Interest Commencement December 18, 2015 Date (Condition 5(III)): 13. Fixed Interest Rate (Condition 5(I)): 4.15 per cent. per annum (a) Interest Rate: (b) Fixed Rate Interest Semi-annually on June, Payment Date(s): 18 and December, 18 in each year, commencing on June 18, 2016 and ending on the Maturity Date. An amount of MXN 207.50
(MORE TO FOLLOW) Dow Jones Newswires
December 23, 2015 02:00 ET (07:00 GMT)
per Authorized Denomination is payable on each Fixed Rate Interest Payment Date. Each Fixed Rate Interest Payment Date is subject to adjustment in accordance with the Modified Following Business Day Convention with no adjustment to the amount of interest otherwise calculated. (c) Fixed Rate Day Count Fraction(s): 30/360 14. Relevant Financial Mexico City Center: 15. Relevant Business Tokyo, London, New York Days: and Mexico City 16. Redemption Amount MXN 10,000 per Authorized (Condition 6(a)): Denomination 17. Issuer's Optional No Redemption (Condition 6(e)): 18. Redemption at the No Option of the Noteholders (Condition 6(f)): 19. Early Redemption In the event of any Notes Amount (including becoming due and payable accrued interest, prior to the Maturity if applicable) (Condition Date in accordance with 9): Condition 9, the Early Redemption Amount of each such Note shall be 100 percent of the Aggregate Principal Amount of such Note plus any accrued but unpaid interest thereon. 20. Governing Law: New York 21. Selling Restrictions: (a) United States: Under the provisions of Section 11(a) of the Inter-American Development Bank Act, the Notes are exempted securities within the meaning of Section 3(a)(2) of the U.S. Securities Act of 1933, as amended, and Section 3(a)(12) of the U.S. Securities Exchange Act of 1934, as amended. Notes in bearer form are subject to U.S. tax law requirements and may not be offered, sold or delivered within the United States or its possessions or to U.S. persons, except in certain transactions permitted by U.S. tax regulations. (b) United Kingdom: The Dealer has agreed that it has complied and will comply with all applicable provisions of the Financial Services and Markets Act of 2000 with respect to anything done by it in relation to the Notes in, from or otherwise involving the United Kingdom. (c) Mexico: The Dealer has agreed that it will not offer the Notes publicly in Mexico and will not distribute any offering materials in Mexico. The Notes have not been and will not be registered with the National Registry of Securities and may not be publicly offered in Mexico. (d) Japan: The Dealer represents that it is purchasing the Notes as principal and has agreed that in connection with the initial offering of Notes, it has not offered or sold and will not directly or indirectly offer or sell any Notes in Japan or to, or for the benefit of, any resident of Japan (including any Japanese corporation or any other entity organized under the laws of Japan), or to others for re-offering or resale, directly or indirectly, in Japan or to, or for the benefit of, any resident of Japan (except in compliance with the Financial Instruments and Exchange Law of Japan (Law no. 25 of 1948, as amended) and all other
(MORE TO FOLLOW) Dow Jones Newswires
December 23, 2015 02:00 ET (07:00 GMT)
applicable laws and regulations of Japan), and furthermore undertakes that any securities dealer to whom it sells any Notes will agree that it is purchasing the Notes as principal and that it will not offer or sell any notes, directly or indirectly, in Japan or to or for the benefit of any resident of Japan (except as aforesaid). (e) General No action has been or will be taken by the Bank that would permit a public offering of the Notes, or possession or distribution of any offering material relating to the Notes in any jurisdiction where action for that purpose is required. Accordingly, the Dealer agrees that it will observe all applicable provisions of law in each jurisdiction in or from which it may offer or sell Notes or distribute any offering material. Other Relevant Terms 1. Listing: None 2. Details of Clearance Euroclear Bank S.A./N.V. System Approved by and/or Clearstream Banking, the Bank and the Luxembourg Global Agent and Clearance and Settlement Procedures: 3. Syndicated: No 4. Commissions and Concessions: No commissions or concessions are payable in respect of the Notes. 5. Estimated Total Expenses None. The Dealer has agreed to pay for all material expenses related to the issuance of the Notes. 6. Codes: (a) Common Code: 132434182 (b) ISIN: XS1324341822 7. Identity of Dealer: HSBC Bank plc 8. Provisions for Bearer Notes: (a) Exchange Date: Not earlier than January 27, 2016, which is the date that is 40 (forty) days after the Issue Date. (b) Permanent Global Yes Note: (c) Definitive Bearer No, except in the circumstances Notes: described under "Form of Notes" herein and in the Prospectus. (d) Individual Definitive No Registered Notes: (e) Registered Global No notes: 9. Additional Risk Factors: There are various risks associated with the Notes including, but not limited to, exchange rate risk, price risk and liquidity risk. Investors should consult with their own financial, legal, and accounting advisors about the risks associated with an investment in these Notes, the appropriate tools to analyze that investment, and the suitability of the investment in each investor's particular circumstances. Holders of the Notes should also consult with their professional tax advisors regarding tax laws applicable to them and, in particular, with respect to tax laws relating to debt securities in bearer form. The Bank may hedge its obligations under the Notes by entering into a swap transaction with the Dealer or one of its affiliates as swap counterparty. Assuming no change in market conditions or any other relevant factors, the price, if any, at which the Dealer or another purchaser might be willing to purchase Notes in a secondary market transaction is expected to be lower, and could be substantially lower, than the original issue price of the Notes. This is due to a number of factors, including that (i) the potential profit to the secondary market purchaser of the Notes may be incorporated into any offered price and (ii) the cost of funding used to value the Notes in the secondary market is expected to be higher than our actual cost of funding incurred in connection with the issuance of the Notes. In addition, the original issue price of the Notes included, and secondary market prices are likely to exclude, the projected profit that our swap counterparty or its affiliates may realize in connection with this swap. Further, as a result of dealer discounts, mark-ups or other transaction costs, any of which may be significant, the original issue price
(MORE TO FOLLOW) Dow Jones Newswires
December 23, 2015 02:00 ET (07:00 GMT)
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