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| Name | Symbol | Market | Type |
|---|---|---|---|
| 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 | |
|---|---|---|---|---|---|---|---|---|---|---|
| 0.00 | 0.00% | 0 | - |
From Apr 2019 to Apr 2024
TIDM42BI
RNS Number : 3930G
Inter-American Development Bank
24 November 2020
PRICING SUPPLEMENT
Inter-American Development Bank
Global Debt Program
Series No.: 770
HKD 100,000,000 0.055 percent Notes due November 23, 2022 ("the Notes")
Issue Price: 100.00 percent
No application has been made to list the Notes on any stock exchange.
BNP Paribas
The date of this Pricing Supplement is November 19, 2020.
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 July 28, 2020 (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 Regulation (EU) 2017/1129). 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.
MiFID II product governance / Retail investors, professional investors and ECPs target market - See "General Information-Additional Information R egarding the Notes-Matters relating to MiFID II" below.
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. Together with the applicable Conditions (as defined above), which are expressly incorporated hereto, these are the only terms that form part of the form of Notes for such issue.
Hot Features
Premium
1. Series No.: 770
2. Aggregate Principal Amount: HKD 100,000,000
3. Issue Price: HKD 100,000,000 which is 100.00
percent of the Aggregate Principal
Amount
4. Issue Date: November 24, 2020
5. Form of Notes Bearer only.
(Condition 1(a)): The Notes 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"), 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. New Global Note: No
7. Authorized Denomination(s)
(Condition 1(b)): HKD 1,000,000
8. Specified Currency
(Condition 1(d)): Hong Kong Dollar ("HKD")
9. Specified Principal Payment
Currency HKD
(Conditions 1(d) and 7(h)):
10. Specified Interest Payment
Currency HKD
(Conditions 1(d) and 7(h)):
11. Maturity Date
(Condition 6(a); Fixed November 23, 2022
Interest Rate):
12. Interest Basis
(Condition 5): Fixed Interest Rate (Condition
5(I))
13. Interest Commencement Date
(Condition 5(III)): Issue Date (November 24, 2020)
14. Fixed Interest Rate (Condition
5(I)):
(a) Interest Rate: 0.055 percent per annum
(b) Fixed Rate Interest Annually in arrear on November
Payment Date(s): 23 of each year, commencing on
November 23, 2021 and ending on
the Maturity Date.
There will be a short first Interest
Period from and including the
Issue Date to but excluding November
23, 2021.
Each Fixed Rate Interest Payment
Date is subject to adjustment
in accordance with the Business
Day Convention.
(c) Business Day Convention Modified Following Business Day
Convention
(d) Initial Broken Amount: HKD 548.49 per HKD 1,000,000 principal
amount.
(e) Fixed Rate Day Count
Fraction(s): Actual/365 (Fixed)
15. Relevant Financial Center: Hong Kong, New York and London
16. Relevant Business Day: Hong Kong, New York and London
17. Issuer's Optional Redemption
(Condition 6(e)): No
18. Redemption at the Option
of the Noteholders (Condition No
6(f)):
19. Governing Law: New York
Other Relevant Terms
1. Listing: None
2. Details of Clearance System Euroclear Bank SA/NV and Clearstream
Approved by the Bank and Banking S.A.
the
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 certain expenses related
to the issuance of the Notes.
6. Codes:
(a) Common Code (b) ISIN: 226282157
XS2262821577
7. Identity of Dealer: BNP Paribas
8. Provisions for Bearer Notes:
(a) Exchange Date: Not earlier than January 4, 2021,
which is the date that is 41 (forty-one)
days after the Issue Date
(b) Permanent Global Note: Yes
(c) Definitive Bearer Notes: No, except in the limited circumstances
described under "Form of Notes"
herein and in the Prospectus
(d) Individual Definitive
Registered Notes Available
on Issue Date: No
(e) Registered Global Notes: No
9. 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 circumstances
permitted by U.S. tax regulations.
(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) Hong Kong: (a) The Dealer has not offered
or sold and will not offer or
sell in Hong Kong, by means of
any document, any Notes other
than (i) to "professional investors"
as defined in the Securities and
Futures Ordinance (Cap. 571) of
Hong Kong and any rules made under
that Ordinance; or (ii) in other
circumstances which do not result
in the document being a "prospectus"
as defined in the Companies (Winding
Up and Miscellaneous Provisions)
Ordinance (Cap. 32) of Hong Kong
or which do not constitute an
offer to the public within the
meaning of that Ordinance; and
(b) The Dealer has not issued
or had in its possession for the
purposes of issue, and will not
issue or have in its possession
for the purposes of issue, whether
in Hong Kong or elsewhere, any
advertisement, invitation or document
relating to the Notes, which is
directed at, or the contents of
which are likely to be accessed
or read by, the public of Hong
Kong (except if permitted to do
so under the securities laws of
Hong Kong) other than with respect
to the Notes which are or are
intended to be disposed of only
to persons outside Hong Kong or
only to "professional investors"
as defined in the Securities and
Futures Ordinance (Cap. 571 of
Hong Kong) and any rules made
under that Ordinance.
(d) Singapore: In the case of the Notes being
offered into Singapore in a primary
or subsequent distribution, and
solely for the purposes of its
obligations pursuant to Section
309B of the Securities and Futures
Act (Chapter 289 of Singapore)
(the "SFA"), the Issuer has determined,
and hereby notifies all relevant
persons (as defined in Section
309A of the SFA) that the Notes
are "prescribed capital markets
products" (as defined in the Securities
and Futures (Capital Markets Products)
Regulations 2018 of Singapore)
and Excluded Investment Products
(as defined in MAS Notice SFA
04-N12: Notice on the Sale of
Investment Products and MAS Notice
FAA-N16: Notice on Recommendations
on Investment Products).
(e) 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.
General Information
Additional Information Regarding the Notes
1. Matters relating to MiFID II
The Bank does not fall under the scope of application of the MiFID II regime. Consequently, the Bank does not qualify as an "investment firm", "manufacturer" or "distributor" for the purposes of MiFID II.
M i FID II product governance / Retail investors, professional investors and ECPs target market - Solely for the purposes of the manufacturer's product approval process, the target market assessment in respect of the Notes has led to the conclusion that: (i) the target market for the Notes is eligible counterparties, professional clients and retail clients, each as defined in MiFID II; and (ii) all channels for distribution of the Notes are appropriate . Any person subsequently offering, selling or recommending the Notes (a "distributor") should take into consideration the manufacturer's target market assessment; however, a distributor subject to MiFID II is responsible for undertaking its own target market assessment in respect of the Notes (by either adopting or refining the manufacturer's target market assessment) and determining appropriate distribution channels.
For the purposes of this provision, the expression "manufacturer" means the Dealer.
For the purposes of this provision, the expression MiFID II means Directive 2014/65/EU, as amended.
2. United States Federal Income Tax Matters
The Notes will be treated as issued in bearer form for United States tax purposes; therefore, the "Tax Matters" section in the Prospectus does not apply to the Notes. A United States Holder that acquires Notes could be subject to adverse tax consequences with respect to its ownership of the Notes and should accordingly consult its tax advisor prior to acquiring Notes.
INTER-AMERICAN DEVELOPMENT BANK
By:
Name: Gustavo Alberto De Rosa
Title: Chief Financial Officer and
General Manager, Finance Department
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END
IODUSRRRRRUAUUA
(END) Dow Jones Newswires
November 25, 2020 02:00 ET (07:00 GMT)
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