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Main characteristics

Type of investment The Bond is a structured debt security issued under the Issuer‘s 2008 Global Debt Issuance Facility. The Bond is not an obligation of any government. It is a direct unsecured obligation of the World Bank. The Bonds are in global format and cannot be exchanged into definitives. By subscribing to it, you lend money to the Issuer, who agrees to repay to you 100% of the capital (excluding fees) in US dollars at maturity and to pay you any redemption premium linked to the positive performance (if any) of the Index. In the event of default of the Issuer, you might not retrieve the sums to which you are entitled, and lose all or part of the capital.
Use of proceeds The net proceeds will be credited to a special account that will be used by the Issuer to support the financing of projects aimed at mitigating the impact of climate change or helping the populations adapt to its effects.
Public offer In the Grand-Duchy of Luxemburg and Belgium
ISIN code XS1319581960
Amount of the offer From US dollar 5,000,000 up to 150,000,000
Issuer International Bank for Reconstruction and Development (or ”World Bank”)(Moody’s Aaa / stable outlook; Standard & Poor’s AAA / stable outlook; as of 28 October 2015)
Calculation Agent BNP Paribas S.A. (also acting as hedging counterpart of the Issuer in relation to the Bonds)
Specified Denomination US dollar 100
Offer Price Maximum 102% of the Specified Denomination, i.e. US dollar 102
Commissions borne by the investor and already included in the Offer Price of maximum 102% (no separate payment by the investors needed)
  • A commission for distributing and promoting the Bonds received up-front at once on the Issue Date by the distributing banks and equivalent to a maximum annual amount of 0.55% of the Specified Denomination of the Bonds distributed (calculated out of 8.5 years that is the tenor of the Bonds).
  • An annual running fee of 0.04% (on the outstanding nominal amount of the Bonds) will be paid by BNP Paribas Arbitrage S.N.C. to Solactive AG, enabling the use of the Index as underlying of the Bonds.
Subscription period From 9am on 16 November to 4pm on 29 December 2015 4pm (subject to early closing, at the discretion of the Issuer – please refer to Final Terms)
Issue/payment Date 8 January 2016
Subscription Please ask your local bank to contact the Dealer, BNP Paribas Fortis (Montagne du Parc 3, 1000 Brussels, Belgium).
Paying agent Citibank, N.A., London
Luxembourg Listing Agent BNP Paribas Securities Services, Luxembourg Branch
Other expenses specifically charged to the subscriber or purchaser
  • Costs for the subscribers relating to holding of the Bonds on a securities account: please check the costs (if any) charged by your bank before subscribing
  • Financial service: please check the costs (if any) charged by your bank before subscribing.
Maturity date 8 July 2024
Redemption at maturity2 100 % of Specified Denomination
Fixed coupon None
Redemption premium paid at maturity2 Amount in US dollar calculated by the Calculation Agent in accordance with the following:
S0 means the official closing level of the Index on Initial Observation Date
Si means the arithmetic mean of the closing levels of the Index on each Monthly Observation Date
Si/S0 – 1 is the ”Adopted Performance”

  • If Si /S0 – 1 ≤ 0 (Adopted Performance negative or null): no premium
  • If Si /S0 – 1 > 0 (Adopted Performance positive): premium = US$ 100 × [Si /S0 – 1] (i.e. Specified Denomination multiplied by Adopted Performance)
Documentation The Prospectus and the Final Terms are available in English (only) on this dedicated website. During the life of the Bond, the annual report or/and informative statement in English (only) published from time to time by the Issuer will be available on the following website of the Issuer: http://treasury.worldbank.org/cmd/htm/index.html
Underlying Ethical Europe Climate Care Index (ISIN code : DE000SLA03W2)
Initial Observation Date 8 January 2016 (provided that it is a trading day, as specified in the Final Terms)
Monthly Observation Dates 21 December 2021, 25 January 2022, 22 February 2022, 25 March 2022, 21 April 2022, 24 May 2022, 23 June 2022, 25 July 2022, 25 August 2022, 26 September 2022, 25 October 2022, 24 November 2022, 21 December 2022, 25 January 2023, 22 February 2023, 24 March 2023, 21 April 2023, 24 May 2023, 26 June 2023, 25 July 2023, 25 August 2023, 25 September 2023, 25 October 2023, 24 November 2023, 20 December 2023, 25 January 2024, 23 February 2024, 22 March 2024, 22 April 2024, 24 May 2024 and 18 June 2024 (provided they are trading days, as specified in the Final Terms)
Market value Published daily and available from your bank (only if your bank provides that service, please check that point with your bank before subscribing)
Selling before maturity To sell your Bonds before maturity, please contact your bank. The Market Maker will under normal market conditions endeavour to make a secondary market during open business hours with a bid-ask spread no larger than 1%. Please contact your bank to know the applicable brokerage fees, if any.
Listing Luxembourg Stock Exchange (regulated market)
Governing law of the Bond English law
Market Maker BNP Paribas Arbitrage S.N.C.
1
Under the conditions specified in the Final Terms.
2
Excluding fees and taxes, paid in US dollars and therefore subject to foreign exchange risk if the investor converts the capital and the potential redemption premium that are paid to them from US dollar to euro, and subject to the absence of default by the World Bank.