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Name | Symbol | Market | Type |
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Inter 2042 | LSE:42BI | London | Medium Term Loan |
Price Change | % Change | Price | Bid Price | Offer Price | High Price | Low Price | Open Price | Traded | Last Trade | |
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TIDM42BI
RNS Number : 9124C
Inter-American Development Bank
03 October 2018
PRICING SUPPLEMENT
Inter-American Development Bank
Global Debt Program
Series No.: 676
U.S.$50,000,000 3.163 percent Notes due October 2, 2028
Issue Price: 100.00 percent
No application has been made to list the Notes on any stock exchange.
DBS Bank Ltd.
The date of this Pricing Supplement is September 27, 2018.
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 (the "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.: 676 2. Aggregate Principal Amount: U.S.$50,000,000 3. Issue Price: U.S.$50,000,000 which is 100.00 percent of the Aggregate Principal Amount 4. Issue Date: October 2, 2018 5. Form of Notes Registered only, as further provided (Condition 1(a)): in paragraph 9 of "Other Relevant Terms" below 6. Authorized Denomination(s) U.S.$200,000 and integral multiples thereof (Condition 1(b)): 7. Specified Currency United States Dollars (U.S.$) being (Condition 1(d)): the lawful currency of the United States of America 8. Specified Principal Payment U.S.$ Currency (Conditions 1(d) and 7(h)): 9. Specified Interest Payment U.S.$ Currency (Conditions 1(d) and 7(h)): 10. Maturity Date October 2, 2028 (Condition 6(a); Fixed Interest Rate): 11. Interest Basis Fixed Interest Rate (Condition (Condition 5): 5(I)) 12. Interest Commencement Date Issue Date (October 2, 2018) (Condition 5(III)): 13. Fixed Interest Rate (Condition 5(I)): (a) Interest Rate: 3.163 percent per annum (b) Fixed Rate Interest Semi-annually in arrear on April Payment Date(s): 2 and October 2 in each year, commencing on April 2, 2019 and ending on the Maturity Date. Each Interest Payment Date is subject to adjustment in accordance with the Following Business Day Convention with no adjustment to the amount of interest otherwise calculated. (c) Fixed Rate Day Count 30/360, unadjusted Fraction(s): 14. Relevant Financial Center: New York 15. Relevant Business Days: New York 16. Issuer's Optional Redemption No (Condition 6(e)): 17. Redemption at the Option No of the Noteholders (Condition 6(f)): 18. Governing Law: New York 19. 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. (b) United Kingdom: The Dealer represents and agrees that it has complied and will comply with all applicable provisions of the Financial Services and Markets Act 2000 with respect to anything done by it in relation to such Notes in, from or otherwise involving the United Kingdom. (c) General: No action has been or will be taken by the Issuer 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. 21. Amendment to Condition Condition 7(a)(i) is hereby amended 7(a)(i): by deleting the first sentence thereof and replacing it with the following: "Payments of principal and interest in respect of Registered Notes shall be made to the person shown on the Register at the close of business on the business day before the due date for payment thereof (the "Record Date")." 22. Amendment to Condition The following shall apply to Notes 7(h): any payments in respect of which are payable in a Specified Currency other than United States Dollars: Condition 7(h) is hereby amended by deleting the words "the noon buying rate in U.S. dollars in the City of New York for cable transfers for such Specified Currency as published by the Federal Reserve Bank of New York on the second Business Day prior to such payment or, if such rate is not available on such second Business Day, on the basis of the rate most recently available prior to such second Business Day" and replacing them with the words "a U.S. dollar/Specified Currency exchange rate determined by the Calculation Agent as of the second Business Day prior to such payment, or, if the Calculation Agent determines that no such exchange rate is available as of such second Business Day, on the basis of the exchange rate most recently available prior to such second Business Day. In making such determinations, the Calculation Agent shall act in good faith and in a commercially reasonable manner having taken into account all available information that it shall deem relevant". If applicable and so appointed, and unless otherwise defined herein, the "Calculation Agent" referred to in amended Condition 7(h) shall be the Global Agent under the Bank's
Global Debt Program - namely, Citibank, N.A., London Branch, or its duly authorized successor. Other Relevant Terms 1. Listing: None 2. Details of Clearance System Euroclear Bank S.A./N.V. and/or Approved by the Bank and Clearstream Banking, société the anonyme Global Agent and Clearance and Settlement Procedures: 3. Syndicated: No 4. Commissions and Concessions: No commissions or concession 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) ISIN: XS1885606522 (b) Common Code: 188560652 7. Identity of Dealer: DBS Bank Ltd. 8. Provisions for Registered Notes: (a) Individual Definitive No Registered Notes Available on Issue Date: (b) DTC Global Note(s): No (c) Other Registered Global Yes, issued in accordance with Notes: the Global Agency Agreement, dated January 8, 2001, among the Bank, Citibank, N.A., as Global Agent, and the other parties thereto.
INTER-AMERICAN DEVELOPMENT BANK
By:
Name: Gustavo Alberto De Rosa Title: Chief Financial Officer and
General Manager, Finance Department
This information is provided by RNS, the news service of the London Stock Exchange. RNS is approved by the Financial Conduct Authority to act as a Primary Information Provider in the United Kingdom. Terms and conditions relating to the use and distribution of this information may apply. For further information, please contact rns@lseg.com or visit www.rns.com.
END
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(END) Dow Jones Newswires
October 04, 2018 02:00 ET (06:00 GMT)
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