PRICING
SUPPLEMENT
Inter-American
Development Bank
Global Debt
Program
Series No: 932
U.S.$50,000,000 4.343
percent Notes due
July 2, 2029
(the "Notes")
Issue
Price: 100.00 percent
No
application has been made to list the Notes on any stock
exchange.
TD Securities
The
date of this Pricing Supplement is July 12, 2024.
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 ("UK") Financial Services and Markets Act 2000 or a base
prospectus for the purposes of Regulation (EU) 2017/1129 (as
amended, the "Prospectus Regulation") or the Prospectus Regulation
as it forms part of UK domestic law by virtue of the European Union
(Withdrawal) Act 2018 ("EUWA")). 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.
UK MiFIR product governance / Retail investors, professional
investors and ECPs target market - See
"General Information-Additional Information Regarding the
Notes-Matters relating to UK MiFIR" 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.
1.
|
Series No.:
|
932
|
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:
|
July 17, 2024
|
5.
|
Form of Notes
(Condition 1(a)):
|
Registered only
|
6.
|
New Global Note:
|
Not Applicable
|
7.
|
Authorized Denomination(s)
(Condition 1(b)):
|
U.S.$100,000 and integral multiples
thereof
|
8.
|
Specified Currency
(Condition 1(d)):
|
United States Dollars (U.S.$) being
the lawful currency of the United States of America
|
9.
|
Specified Principal Payment
Currency
(Conditions 1(d) and 7(h)):
|
U.S.$
|
10.
|
Specified Interest Payment
Currency
(Conditions 1(d) and 7(h)):
|
U.S.$
|
11.
|
Maturity Date
(Condition 6(a); Fixed Interest Rate and Zero Coupon):
|
July 2, 2029
|
12.
|
Interest Basis
(Condition 5):
|
Fixed Interest Rate (Condition
5(I))
|
13.
|
Interest Commencement Date
(Condition 5(III)):
|
Issue Date (July 17,
2024)
|
14.
|
Fixed Interest Rate (Condition
5(I)):
|
|
|
|
(a) Interest Rate:
|
4.343 percent per annum
|
|
|
(b) Fixed Rate Interest Payment
Date(s):
|
Semi-annually in arrear on January 2 and July 2 in
each year, commencing with a short first coupon on January 2, 2025,
up to and including the Maturity Date.
Each Fixed Rate Interest Payment Date is subject to
the Business Day Convention, but with no adjustment to the amount
of interest otherwise calculated.
|
|
|
(c) Business Day Convention:
|
Following Business Day
Convention
|
|
|
(d) Fixed Rate Day Count
Fraction(s):
|
30/360
|
15.
|
Relevant Financial
Center:
|
New York
|
16.
|
Relevant Business Days:
|
New York
|
17.
|
Issuer's Optional Redemption
(Condition 6(e)):
|
No
|
18.
|
Redemption at the Option of the
Noteholders (Condition 6(f)):
|
No
|
19.
|
Governing Law:
|
New York
|
|
Other Relevant Terms
|
1.
|
Listing
|
None
|
2.
|
Details of Clearance System Approved
by the Bank and the
Global Agent and Clearance and
Settlement Procedures:
|
The Depository Trust Company
(DTC)
|
3.
|
Syndicated:
|
No
|
4.
|
Commissions and
Concessions:
|
U.S.$10,000
|
5.
|
Estimated Total Expenses:
|
The Dealer has agreed to pay for all
material expenses related to the issuance of the Notes.
|
6.
|
Codes:
|
|
|
(a) Common Code:
|
286153267
|
|
|
(b) CUSIP:
|
45818WFU5
|
|
|
(c) ISIN:
|
US45818WFU53
|
7.
|
Identity of Dealer:
|
The Toronto-Dominion Bank
|
8.
|
Provision for Registered
Notes:
|
|
|
(a) Individual
Definitive Registered Notes Available on Issue Date:
|
No
|
|
|
(b) DTC Global
Note(s):
|
Yes, issued in accordance with the
Amended and Restated Global Agency Agreement, dated as of July 28,
2020, between the Bank, Citibank, N.A., London Branch as Global
Agent, and the other parties thereto.
|
|
|
(c) Other Registered
Global Notes:
|
No
|
9.
|
Intended to be held in a manner
which would allow Eurosystem eligibility:
|
Not Applicable
|
10.
|
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 (a) it has only communicated or caused to be communicated and
will only communicate or cause to be communicated an invitation or
inducement to engage in investment activity (within the meaning of
Section 21 of the Financial Services and Markets Act 2000 (the
"FSMA")) received by it in connection with the issue or sale of the
Notes in circumstances in which Section 21(1) of the FSMA does not
apply to the Bank, and (b) it has complied and will comply with all
applicable provisions of the FSMA with respect to anything done by
it in relation to such Notes in, from or otherwise involving the
UK.
|
|
(c) 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).
|
|
(d) 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 UK MiFIR
The Bank does not fall under the scope of application
of the UK MiFIR regime. Consequently, the Bank does not
qualify as an "investment firm", "manufacturer" or "distributor"
for the purposes of UK MiFIR.
UK MiFIR product
governance / Retail investors, professional investors and ECPs
target market - Solely for the purposes of the UK
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 retail clients, as defined
in point (8) of Article 2 of Regulation (EU) No 2017/565 as it
forms part of UK domestic law by virtue of the EUWA, eligible
counterparties, as defined in COBS, and professional clients, as
defined in UK MiFIR; 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 UK manufacturer's target market assessment;
however, a distributor subject to the UK MiFIR Product Governance
Rules is responsible for undertaking its own target market
assessment in respect of the Notes (by either adopting or refining
the UK manufacturer's target market assessment) and determining
appropriate distribution channels.
For the purposes of this provision, (i) the
expression "UK manufacturer" means the Dealer, (ii) the expression
"COBS" means the FCA Handbook Conduct of Business Sourcebook, (iii)
the expression "UK MiFIR" means Regulation (EU) No 600/2014 as it
forms part of UK domestic law by virtue of the EUWA and (iv) the
expression "UK MiFIR Product Governance Rules" means the FCA
Handbook Product Intervention and Product Governance
Sourcebook.
INTER-AMERICAN
DEVELOPMENT BANK
