TIDM42BI

RNS Number : 6639O

Inter-American Development Bank

01 February 2023

PRICING SUPPLEMENT

Inter-American Development Bank

Global Debt Program

Series No.: 809

Tranche No.: 12

USD 200,000,000 Floating Rate Notes due September 16, 2026 (the "Notes") as from February 1, 2023, to be consolidated and form a single series with the Bank's

USD 600,000,000 Floating Rate Notes due September 16, 2026, issued on September 16, 2021 (the "Series 809 Tranche 1 Notes"), the Bank's USD 100,000,000 Floating Rate Notes due September 16, 2026, issued on October 21, 2021 (the "Series 809 Tranche 2 Notes"), the Bank's USD 100,000,000 Floating Rate Notes due September 16, 2026, issued on November 22, 2021 (the "Series 809 Tranche 3 Notes"), the Bank's USD 100,000,000 Floating Rate Notes due September 16, 2026, issued on January 31, 2022 (the "Series 809 Tranche 4 Notes"), the Bank's USD 100,000,000 Floating Rate Notes due September 16, 2026, issued on February 7, 2022 (the "Series 809 Tranche 5 Notes"), the Bank's USD 100,000,000 Floating Rate Notes due September 16, 2026, issued on April 7, 2022 (the "Series 809 Tranche 6 Notes"), the Bank's USD 100,000,000 Floating Rate Notes due September 16, 2026, issued on October 12, 2022 (the "Series 809 Tranche 7 Notes"), the Bank's USD 100,000,000 Floating Rate Notes due September 16, 2026, issued on November 8, 2022 (the "Series 809 Tranche 8 Notes"), the Bank's USD 100,000,000 Floating Rate Notes due September 16, 2026, issued on November 17, 2022 (the "Series 809 Tranche 9 Notes"), the Bank's USD 200,000,000 Floating Rate Notes due September 16, 2026, issued on November 28, 2022 (the "Series 809 Tranche 10 Notes"), and the Bank's USD 100,000,000 Floating Rate Notes due September 16, 2026, issued on January 25, 2023, (the "Series 809 Tranche 11 Notes")

Issue Price: 99.547 percent plus 47 days' accrued interest

Application has been made for the Notes to be admitted to the

Official List of the Financial Conduct Authority and

to trading on the London Stock Exchange plc's

UK Regulated Market

Barclays Bank PLC

The date of this Pricing Supplement is January 30, 2023

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.:                        809 
       Tranche No.:                       12 
 2.    Aggregate Principal Amount:        USD 200,000,000 
                                           As from the Issue Date, the Notes 
                                           will be consolidated and form a single 
                                           series with the Series 809 Tranche 
                                           1 Notes, the Series 809 Tranche 2 
                                           Notes, the Series 809 Tranche 3 Notes, 
                                           the Series 809 Tranche 4 Notes, the 
                                           Series 809 Tranche 5 Notes, the Series 
                                           809 Tranche 6 Notes, the Series 809 
                                           Tranche 7 Notes, the Series 809 Tranche 
                                           8 Notes, the Series 809 Tranche 9 
                                           Notes, the Series 809 Tranche 10 
                                           Notes, and the Series 809 Tranche 
                                           11 Notes. 
 3.    Issue Price:                       USD 200,248,000 which amount represents 
                                           the sum of (a) 99.547 percent of 
                                           the Aggregate Principal Amount plus 
                                           (b) the amount of USD 1,154,000 representing 
                                           47 days' accrued interest, inclusive. 
 4.    Issue Date:                        February 1, 2023 
 5.    Form of Notes 
        (Condition 1(a)):                  Book-entry only 
 6.    Authorized Denomination(s) 
         (Condition 1(b)):                 USD 1,000 and integral multiples 
                                           thereof 
 7.    Specified Currency 
        (Condition 1(d)):                  United States Dollars (USD) being 
                                           the lawful currency of the United 
                                           States of America 
 8.    Specified Principal Payment 
        Currency 
        (Conditions 1(d) and               USD 
        7(h)): 
 9.    Specified Interest Payment 
        Currency 
        (Conditions 1(d) and 
        7(h)):                             USD 
 10.   Maturity Date 
        (Condition 6(a); Fixed 
        Interest Rate): 
                                           September 16, 2026 
 11.   Interest Basis 
        (Condition 5):                     Floating Interest Rate (Condition 
                                           5(II)) 
 12.   Interest Commencement 
        Date                               December 16, 2022 
        (Condition 5(III)): 
 13.   Floating Rate (Condition 
        5(II)): 
       (a) Calculation Amount              Not Applicable 
        (if different than Principal 
        Amount of the Note): 
       (b) Business Day Convention:        Following Business Day Convention 
       (c) Specified Interest              The period beginning on, and including, 
        Period:                             the Interest Commencement Date to, 
                                            but excluding, the first Interest 
                                            Payment Date and each successive 
                                            period beginning on, and including, 
                                            an Interest Payment Date to, but 
                                            excluding, the next succeeding Interest 
                                            Payment Date, in each case, as adjusted 
                                            in accordance with the relevant Business 
                                            Day Convention. 
       (d) Interest Payment               Quarterly in arrear on March 16, 
        Date:                              June 16, September 16 and December 
                                           16 in each year, commencing on March 
                                           16, 2023, up to and including the 
                                           Maturity Date. 
                                           Each Interest Payment Date is subject 
                                           to adjustment in accordance with 
                                           the Business Day Convention. 
       (e) Interest Period Date:          Each Interest Payment Date 
       (f) Reference Rate:                     Subject to the Compounded SOFR Fallback 
                                               Provisions below, for any Interest 
                                               Period, "Compounded SOFR" will be 
                                               calculated by the Calculation Agent 
                                               on each Interest Determination Date 
                                               as follows and the resulting percentage 
                                               will be rounded, if necessary, to 
                                               the fourth decimal place of a percentage 
                                               point, 0.00005 being rounded upwards: 
 
                                               where: 
                                               "Observation Period" means, in respect 
                                               of each Interest Period, the period 
                                               from, and including, the date which 
                                               is five U.S. Government Securities 
                                               Business Days preceding the first 
                                               date of such Interest Period to, 
                                               but excluding, the date which is 
                                               five U.S. Government Securities Business 
                                               Days preceding the Interest Payment 
                                               Date for such Interest Period (or 
                                               in the final Interest Period, the 
                                               Maturity Date). 
                                               "SOFR Index(Start) " means the SOFR 
                                               Index value on the day which is five 
                                               U.S. Government Securities Business 
                                               Days preceding the first date of 
                                               the relevant Interest Period. 
                                               "SOFR Index(End) " means the SOFR 
                                               Index value on the day which is five 
                                               U.S. Government Securities Business 
                                               Days preceding the Interest Payment 
                                               Date relating to such Interest Period 
                                               (or in the final Interest Period, 
                                               the Maturity Date). 
                                               "d(c) " means the number of calendar 
                                               days in the Observation Period relating 
                                               to such Interest Period. 
                                               "SOFR Administrator" means the Federal 
                                               Reserve Bank of New York ("NY Fed") 
                                               as administrator of the secured overnight 
                                               financing rate ("SOFR") (or a successor 
                                               administrator of SOFR) 
                                               "SOFR Index" in relation to any U.S. 
                                               Government Securities Business Day 
                                               shall be the value published by the 
                                               SOFR Administrator on its website 
                                               (on or about 3:00 p.m. (New York 
                                               Time) on such U.S. Government Securities 
                                               Business Day (the "SOFR Index Determination 
                                               Time"). Currently, the SOFR Administrator 
                                               publishes the SOFR Index on its website 
                                               at https://apps.newyorkfed.org/markets/autorates/sofr-avg-ind 
                                               . In the event that the value originally 
                                               published by the SOFR Administrator 
                                               on or about 3:00 p.m. (New York Time) 
                                               on any U.S. Government Securities 
                                               Business Day is subsequently corrected 
                                               and such corrected value is published 
                                               by the SOFR Administrator on the 
                                               original date of publication, then 
                                               such corrected value, instead of 
                                               the value that was originally published, 
                                               shall be deemed the SOFR Index as 
                                               of the SOFR Index Determination Time 
                                               in relation to such U.S. Government 
                                               Securities Business Day. 
                                               Compounded SOFR Fallback Provisions 
                                               : 
                                               SOFR Index Unavailable : 
                                               If a SOFR Index(Start) or SOFR Index(End) 
                                               is not published on the associated 
                                               Interest Determination Date and a 
                                               Benchmark Transition Event and its 
                                               related Benchmark Replacement Date 
                                               have not occurred with respect to 
                                               SOFR Index or SOFR, "Compounded SOFR" 
                                               means, for the applicable Interest 
                                               Period for which such index is not 
                                               available, the rate of return on 
                                               a daily compounded interest investment 
                                               calculated by the Calculation Agent 
                                               in accordance with the formula for 
                                               SOFR Averages, and definitions required 
                                               for such formula, published on the 
                                               SOFR Administrator's website at 
                                               https://www.newyorkfed.org/markets/treasury-repo-reference-rates-inform 
                                               ation. 
                                               For the purposes of this provision, 
                                               references in the SOFR Averages compounding 
                                               formula and related definitions to 
                                               "calculation period" shall be replaced 
                                               with "Observation Period" and the 
                                               words "that is, 30-, 90-, or 180- 
                                               calendar days" shall be removed. 
                                               If the daily SOFR ("SOFR(i) ") does 
                                               not so appear for any day, "i" in 
                                               the Observation Period, SOFR(i) for 
                                               such day "i" shall be SOFR published 
                                               in respect of the first preceding 
                                               U.S. Government Securities Business 
                                               Day for which SOFR was published 
                                               on the SOFR Administrator's website. 
                                               Effect of a Benchmark Transition 
                                               Event : 
                                               If the Issuer determines on or prior 
                                               to the relevant Reference Time that 
                                               a Benchmark Transition Event and 
                                               its related Benchmark Replacement 
                                               Date have occurred with respect to 
                                               the then-current Benchmark, the Benchmark 
                                               Replacement will replace the then-current 
                                               Benchmark for all purposes relating 
                                               to the Notes in respect of all determinations 
                                               on such date and for all determinations 
                                               on all subsequent dates. 
                                               In connection with the implementation 
                                               of a Benchmark Replacement, the Issuer 
                                               will have the right to make Benchmark 
                                               Replacement Conforming Changes from 
                                               time to time. 
                                               Any determination, decision or election 
                                               that may be made by the Issuer pursuant 
                                               to this section, including any determination 
                                               with respect to a tenor, rate or 
                                               adjustment or of the occurrence or 
                                               non-occurrence of an event, circumstance 
                                               or date and any decision to take 
                                               or refrain from taking any action 
                                               or any selection: 
                                               (1) will be conclusive and binding 
                                               absent manifest error; 
                                               (2) will be made in the sole discretion 
                                               of the Issuer; and 
                                               (3) notwithstanding anything to the 
                                               contrary in the documentation relating 
                                               to the Notes described herein, shall 
                                               become effective without consent 
                                               from the holders of the Notes or 
                                               any other party. 
                                               "Benchmark" means, initially, SOFR 
                                               Index; provided that if the Issuer 
                                               determines on or prior to the Reference 
                                               Time that a Benchmark Transition 
                                               Event and its related Benchmark Replacement 
                                               Date have occurred with respect to 
                                               SOFR Index (or the published daily 
                                               SOFR used in the calculation thereof) 
                                               then "Benchmark" means the applicable 
                                               Benchmark Replacement for the SOFR 
                                               Index; and provided further that 
                                               if the Issuer determines on or prior 
                                               to the Reference Time that a Benchmark 
                                               Transition Event and its related 
                                               Benchmark Replacement Date have occurred 
                                               with respect to the then-current 
                                               Benchmark (or the daily published 
                                               component used in the calculation 
                                               thereof), then "Benchmark" means 
                                               the applicable Benchmark Replacement 
                                               for the then-current Benchmark. 
                                               "Benchmark Replacement" means the 
                                               first alternative set forth in the 
                                               order below that can be determined 
                                               by the Issuer as of the Benchmark 
                                               Replacement Date. 
                                               (1) the sum of: (a) the alternate 
                                               rate of interest that has been selected 
                                               or recommended by the Relevant Governmental 
                                               Body as the replacement for the then-current 
                                               Benchmark and (b) the Benchmark Replacement 
                                               Adjustment; 
                                               (2) the sum of: (a) the ISDA Fallback 
                                               Rate and (b) the Benchmark Replacement 
                                               Adjustment; or 
                                               (3) the sum of: (a) the alternate 
                                               rate of interest that has been selected 
                                               by the Issuer as the replacement 
                                               for the then-current Benchmark giving 
                                               due consideration to any industry-accepted 
                                               rate of interest as a replacement 
                                               for the then-current Benchmark for 
                                               U.S. dollar-denominated floating 
                                               rate notes at such time and (b) the 
                                               Benchmark Replacement Adjustment; 
                                               Provided that, if a Benchmark Replacement 
                                               Date has occurred with regard to 
                                               the daily published component used 
                                               in the calculation of a Benchmark, 
                                               but not with regard to the Benchmark 
                                               itself, "Benchmark Replacement" means 
                                               the references to the alternatives 
                                               determined in accordance with clauses 
                                               (1), (2) or (3) above for such daily 
                                               published components. 
                                               "Benchmark Replacement Adjustment" 
                                               means the first alternative set forth 
                                               in the order below that can be determined 
                                               by the Issuer as of the Benchmark 
                                               Replacement Date: 
                                               (1) the spread adjustment, or method 
                                               for calculating or determining such 
                                               spread adjustment, (which may be 
                                               a positive or negative value or zero) 
                                               that has been selected or recommended 
                                               by the Relevant Governmental Body 
                                               for the applicable Unadjusted Benchmark 
                                               Replacement; 
                                               (2) if the applicable Unadjusted 
                                               Benchmark Replacement is equivalent 
                                               to the ISDA Fallback Rate, the ISDA 
                                               Fallback Adjustment; or 
                                               (3) the spread adjustment (which 
                                               may be a positive or negative value 
                                               or zero) that has been selected by 
                                               the Issuer giving due consideration 
                                               to any industry-accepted spread adjustment, 
                                               or method for calculating or determining 
                                               such spread adjustment, for the replacement 
                                               of the then-current Benchmark (or 
                                               the daily published component used 
                                               in the calculation thereof) with 
                                               the applicable Unadjusted Benchmark 
                                               Replacement for U.S. dollar-denominated 
                                               floating rate notes at such time. 
                                               "Benchmark Replacement Conforming 
                                               Changes" means, with respect to any 
                                               Benchmark Replacement, any technical, 
                                               administrative or operational changes 
                                               (including changes to the timing 
                                               and frequency of determining rates 
                                               and making payments of interest, 
                                               rounding of amounts or tenors, and 
                                               other administrative matters) that 
                                               the Issuer decides may be appropriate 
                                               to reflect the adoption of such Benchmark 
                                               Replacement in a manner substantially 
                                               consistent with market practice (or, 
                                               if the Issuer decides that adoption 
                                               of any portion of such market practice 
                                               is not administratively feasible 
                                               or if the Issuer determines that 
                                               no market practice for use of the 
                                               Benchmark Replacement exists, in 
                                               such other manner as the Issuer determines 
                                               is reasonably necessary); provided 
                                               that, for the avoidance of doubt, 
                                               if a Benchmark Replacement Date has 
                                               occurred with regard to the daily 
                                               published component used in the calculation 
                                               of a Benchmark, but not with regard 
                                               to the Benchmark itself, "Benchmark 
                                               Replacement Conforming Changes" shall 
                                               also mean that the Issuer may calculate 
                                               the Benchmark Replacement for such 
                                               Benchmark in accordance with the 
                                               formula for and method of calculating 
                                               such Benchmark last in effect prior 
                                               to Benchmark Replacement Date affecting 
                                               such component, substituting the 
                                               affected component with the relevant 
                                               Benchmark Replacement for such component. 
                                               "Benchmark Replacement Date" means 
                                               the earliest to occur of the following 
                                               events with respect to the then-current 
                                               Benchmark (or the daily published 
                                               component used in the calculation 
                                               thereof): 
                                               (1) in the case of clause (1) or 
                                               (2) of the definition of "Benchmark 
                                               Transition Event," the later of (a) 
                                               the date of the public statement 
                                               or publication of information referenced 
                                               therein and (b) the date on which 
                                               the administrator of the Benchmark 
                                               permanently or indefinitely ceases 
                                               to provide the Benchmark (or such 
                                               component); or 
                                               (2) in the case of clause (3) of 
                                               the definition of "Benchmark Transition 
                                               Event," the later of (x) the date 
                                               of the public statement or publication 
                                               of information referenced therein 
                                               and (y) the first date on which such 
                                               Benchmark (or such component) is 
                                               no longer representative per such 
                                               statement or publication. 
                                               For the avoidance of doubt, if the 
                                               event that gives rise to the Benchmark 
                                               Replacement Date occurs on the same 
                                               day as, but earlier than, the Reference 
                                               Time in respect of any determination, 
                                               the Benchmark Replacement Date will 
                                               be deemed to have occurred prior 
                                               to the Reference Time for such determination. 
                                               "Benchmark Transition Event" means 
                                               the occurrence of one or more of 
                                               the following events with respect 
                                               to the then-current Benchmark (or 
                                               the daily published component used 
                                               in the calculation thereof): 
                                               (1) a public statement or publication 
                                               of information by or on behalf of 
                                               the administrator of the Benchmark 
                                               (or such component) announcing that 
                                               such administrator has ceased or 
                                               will cease to provide the Benchmark 
                                               (or such component), permanently 
                                               or indefinitely, provided that, at 
                                               the time of such statement or publication, 
                                               there is no successor administrator 
                                               that will continue to provide the 
                                               Benchmark (or such component); or 
                                               (2) a public statement or publication 
                                               of information by the regulatory 
                                               supervisor for the administrator 
                                               of the Benchmark (or such component), 
                                               the central bank for the currency 
                                               of the Benchmark (or such component), 
                                               an insolvency official with jurisdiction 
                                               over the administrator for the Benchmark 
                                               (or such component), a resolution 
                                               authority with jurisdiction over 
                                               the administrator for the Benchmark 
                                               (or such component) or a court or 
                                               an entity with similar insolvency 
                                               or resolution authority over the 
                                               administrator for the Benchmark, 
                                               which states that the administrator 
                                               of the Benchmark (or such component) 
                                               has ceased or will cease to provide 
                                               the Benchmark (or such component) 
                                               permanently or indefinitely, provided 
                                               that, at the time of such statement 
                                               or publication, there is no successor 
                                               administrator that will continue 
                                               to provide the Benchmark (or such 
                                               component); or 
                                               (3) a public statement or publication 
                                               of information by the regulatory 
                                               supervisor for the administrator 
                                               of the Benchmark announcing (A) that 
                                               such Benchmark (or its component) 
                                               is no longer, or as of a specified 
                                               future date will no longer be, capable 
                                               of being representative, or is non-representative, 
                                               of the underlying market and economic 
                                               reality that such Benchmark (or its 
                                               component) is intended to measure 
                                               as required by applicable law or 
                                               regulation and as determined by the 
                                               regulatory supervisor in accordance 
                                               with applicable law or regulation 
                                               and (B) that the intention of that 
                                               statement or publication is to engage 
                                               contractual triggers for fallbacks 
                                               activated by pre-cessation announcements 
                                               by such supervisor (howsoever described) 
                                               in contracts. 
                                               "ISDA Definitions" means the 2006 
                                               ISDA Definitions published by the 
                                               International Swaps and Derivatives 
                                               Association, Inc. or any successor 
                                               thereto, as amended or supplemented 
                                               from time to time, or any successor 
                                               definitional booklet for interest 
                                               rate derivatives published from time 
                                               to time. 
                                               "ISDA Fallback Adjustment" means 
                                               the spread adjustment (which may 
                                               be a positive or negative value or 
                                               zero) that would apply for derivatives 
                                               transactions referencing the ISDA 
                                               Definitions to be determined upon 
                                               the occurrence of an index cessation 
                                               event with respect to the Benchmark 
                                               (or the daily published component 
                                               used in the calculation thereof). 
                                               "ISDA Fallback Rate" means the rate 
                                               that would apply for derivatives 
                                               transactions referencing the ISDA 
                                               Definitions to be effective upon 
                                               the occurrence of an index cessation 
                                               date with respect to the Benchmark 
                                               (or the daily published component 
                                               used in the calculation thereof) 
                                               for the applicable tenor excluding 
                                               the applicable ISDA Fallback Adjustment. 
                                               "Reference Time" with respect to 
                                               any determination of the Benchmark 
                                               (or the daily published component 
                                               used in the calculation thereof) 
                                               means (1) if the Benchmark is SOFR 
                                               Index, the SOFR Index Determination 
                                               Time, and (2) if the Benchmark is 
                                               not SOFR Index, the time determined 
                                               by the Issuer after giving effect 
                                               to the Benchmark Replacement Conforming 
                                               Changes. 
                                               "Relevant Governmental Body" means 
                                               the Federal Reserve Board and/or 
                                               the Federal Reserve Bank of New York, 
                                               or a committee officially endorsed 
                                               or convened by the Federal Reserve 
                                               Board and/or the Federal Reserve 
                                               Bank of New York or any successor 
                                               thereto. 
                                               "Unadjusted Benchmark Replacement" 
                                               means the Benchmark Replacement excluding 
                                               the Benchmark Replacement Adjustment. 
       (g) Calculation Agent:             Citibank, N.A., London Branch 
       (h) Interest Determination 
        Date:                               The date five U.S. Government Securities 
                                            Business Days prior to the end of 
                                            each Interest Period. 
 14.   Other Floating Rate Terms 
        (Conditions 5(II) and 
        (III)): 
       (a) Minimum Interest               0 percent per annum 
        Rate: 
       (b) Spread:                        plus (+) 0.17 percent per annum 
       (c) Floating Rate Day 
        Count Fraction if not 
        actual/360:                         Actual/360 
       (d) Relevant Banking               New York 
        Center: 
 15.   Relevant Financial Center:         New York 
 16.   Relevant Business Day:             A day which is a U.S. Government 
                                           Securities Business Day and a New 
                                           York Business Day. 
 17.   Issuer's Optional Redemption 
        (Condition 6(e)):                  No 
 18.   Redemption at the Option 
        of the Noteholders (Condition      No 
        6(f)): 
 19.   Early Redemption Amount 
        (including accrued interest,        In the event the Notes become due 
        if applicable) (Condition           and payable as provided in Condition 
        9):                                 9 (Default), the Early Redemption 
                                            Amount with respect to the minimum 
                                            Authorized Denomination will be USD1,000 
                                            plus accrued interest, if any, as 
                                            determined in accordance with "13. 
                                            Floating Interest Rate (Condition 
                                            5(II)) and "14. Other Floating Interest 
                                            Rate Terms (Conditions 5(II) and 
                                            (III)). 
 20.   Governing Law:                     New York 
 
  Other Relevant Terms 
 1.    Listing (if yes, specify 
        Stock                               Application has been made for the 
        Exchange):                          Notes to be admitted to the Official 
                                            List of the Financial Conduct Authority 
                                            and to trading on the London Stock 
                                            Exchange plc's UK Regulated Market 
 2.    Details of Clearance 
        System Approved by the 
        Bank and the 
        Global Agent and Clearance          Federal Reserve Bank of New York; 
        and                                 Euroclear Bank SA/NV; Clearstream 
        Settlement Procedures:              Banking S.A. 
 3.    Syndicated:                        No 
 4.    Commissions and Concessions:       0.0035% of the Aggregate Principal 
                                           Amount 
 5.    Estimated Total Expenses:          The Dealer has agreed to pay for 
                                           all material expenses related to 
                                           the issuance of the Notes, except 
                                           the Issuer will pay for the London 
                                           Stock Exchange listing fees, if applicable. 
 6.    Codes: 
       (a) Common Code:                   238744717 
       (b) ISIN:                          US4581X0DY17 
       (c) CUSIP:                         4581X0DY1 
 7.    Identity of Dealer:                Barclays Bank PLC 
 8.    Intended to be held in              Not Applicable 
        a manner which would 
        allow Eurosystem eligibility: 
 9.    Additional Risk Factors:           As set forth in the Supplemental 
                                           Prospectus Information 
 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

Recent Developments

On November 20, 2022, Ilan Goldfajn was elected president of the Bank during a Special Meeting of the Bank's Board of Governors. Mr. Goldfajn took office for a five-year term on December 19, 2022.

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 / 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 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.

   2.         Supplemental Prospectus Information 

The Prospectus is hereby supplemented with the following information, which shall be deemed to be incorporated in, and to form part of, the Prospectus.

The Prospectus and this Pricing Supplement do not describe all of the risks and other ramifications of an investment in the Notes. An investment in the Notes entails risks not associated with an investment in a conventional fixed rate or floating rate debt security. Investors should consult their own financial and legal advisors about the risks associated with an investment in the Notes and the suitability of investing in the Notes in light of their particular circumstances, and possible scenarios for economic, interest rate and other factors that may affect their investment .

The Secured Overnight Financing Rate is a Relatively New Reference Rate and its Composition and Characteristics are Not the Same as LIBOR.

On June 22, 2017, the Alternative Reference Rates Committee ("ARRC") convened by the Board of Governors of the Federal Reserve System and the Federal Reserve Bank of New York identified the Secured Overnight Financing Rate ("SOFR") as the rate that, in the consensus view of the ARRC, represented best practice for use in certain new U.S. dollar derivatives and other financial contracts. SOFR is a broad measure of the cost of borrowing cash overnight collateralized by U.S. treasury securities, and has been published by the Federal Reserve Bank of New York since April 2018. The Federal Reserve Bank of New York has also begun publishing historical indicative SOFR from 2014. Investors should not rely on any historical changes or trends in SOFR as an indicator of future changes in SOFR.

The composition and characteristics of SOFR are not the same as those of LIBOR, and SOFR is fundamentally different from LIBOR for two key reasons. First, SOFR is a secured rate, while LIBOR is an unsecured rate. Second, SOFR is an overnight rate, while LIBOR is a forward-looking rate that represents interbank funding over different maturities (e.g., three months). As a result, there can be no assurance that SOFR (including Compounded SOFR) will perform in the same way as LIBOR would have at any time, including, without limitation, as a result of changes in interest and yield rates in the market, market volatility or global or regional economic, financial, political, regulatory, judicial or other events.

SOFR May be More Volatile Than Other Benchmark or Market Rates.

Since the initial publication of SOFR, daily changes in SOFR have, on occasion, been more volatile than daily changes in other benchmark or market rates, such as USD LIBOR. Although changes in Compounded SOFR generally are not expected to be as volatile as changes in daily levels of SOFR, the return on and value of the Notes may fluctuate more than floating rate securities that are linked to less volatile rates. In addition, the volatility of SOFR has reflected the underlying volatility of the overnight U.S. Treasury repo market. The Federal Reserve Bank of New York has at times conducted operations in the overnight U.S. Treasury repo market in order to help maintain the federal funds rate within a target range. There can be no assurance that the Federal Reserve Bank of New York will continue to conduct such operations in the future, and the duration and extent of any such operations is inherently uncertain. The effect of any such operations, or of the cessation of such operations to the extent they are commenced, is uncertain and could be materially adverse to investors in the Notes.

Any Failure of SOFR to Gain Market Acceptance Could Adversely Affect the Notes.

According to the ARRC, SOFR was developed for use in certain U.S. dollar derivatives and other financial contracts as an alternative to USD LIBOR in part because it is considered a good representation of general funding conditions in the overnight U.S. Treasury repurchase agreement market. However, as a rate based on transactions secured by U.S. Treasury securities, it does not measure bank-specific credit risk and, as a result, is less likely to correlate with the unsecured short-term funding costs of banks. This may mean that market participants would not consider SOFR a suitable replacement or successor for all of the purposes for which USD LIBOR historically has been used (including, without limitation, as a representation of the unsecured short-term funding costs of banks), which may, in turn, lessen market acceptance of SOFR. Any failure of SOFR to gain market acceptance could adversely affect the return on and value of the Notes and the price at which investors can sell the Notes in the secondary market.

In addition, if SOFR does not prove to be widely used as a benchmark in securities that are similar or comparable to the Notes, the trading price of the Notes may be lower than those of securities that are linked to rates that are more widely used. Similarly, market terms for floating-rate debt securities linked to SOFR, such as the spread over the base rate reflected in interest rate provisions or the manner of compounding the base rate, may evolve over time, and trading prices of the Notes may be lower than those of later-issued SOFR-based debt securities as a result. Investors in the Notes may not be able to sell the Notes at all or may not be able to sell the Notes at prices that will provide them with a yield comparable to similar investments that have a developed secondary market, and may consequently suffer from increased pricing volatility and market risk.

The Rate of Interest on the Notes is Based on a Compounded SOFR Rate and the SOFR Index, which is Relatively New in the Marketplace.

For each Interest Period, the Rate of Interest on the Notes is based on Compounded SOFR, which is calculated using the SOFR Index published by the Federal Reserve Bank of New York according to the specific formula described in paragraph 13 under "Terms and Conditions" above (the "Floating Rate Note Provisions"), not the SOFR rate published on or in respect of a particular date during such Interest Period or an arithmetic average of SOFR rates during such period. For this and other reasons, the Rate of Interest on the Notes during any Interest Period will not necessarily be the same as the Rate of Interest on other SOFR-linked investments that use an alternative basis to determine the applicable interest rate. Further, if the SOFR rate in respect of a particular date during an Interest Period is negative, its contribution to the SOFR Index will be less than one, resulting in a reduction to Compounded SOFR used to calculate the interest payable on the Notes on the Interest Payment Date for such Interest Period.

Very limited market precedent exists for securities that use SOFR as the interest rate and the method for calculating an interest rate based upon SOFR in those precedents varies. In addition, the Federal Reserve Bank of New York only began publishing the SOFR Index on March 2, 2020. Accordingly, the use of the SOFR Index or the specific formula for the Compounded SOFR rate used in the Notes may not be widely adopted by other market participants, if at all. If the market adopts a different calculation method, that would likely adversely affect the market value of the Notes.

Compounded SOFR with Respect to a Particular Interest Period Will Only be Capable of Being Determined Near the End of the Relevant Interest Period.

The level of Compounded SOFR applicable to a particular Interest Period and, therefore, the amount of interest payable with respect to such Interest Period will be determined on the Interest Determination Date for such Interest Period. Because each such date is near the end of such Interest Period, you will not know the amount of interest payable with respect to a particular Interest Period until shortly prior to the related Interest Payment Date and it may be difficult for you to reliably estimate the amount of interest that will be payable on each such Interest Payment Date. In addition, some investors may be unwilling or unable to trade the Notes without changes to their information technology systems, both of which could adversely impact the liquidity and trading price of the Notes.

The SOFR Index May be Modified or Discontinued and the Notes May Bear Interest by Reference to a Rate Other than Compounded SOFR, which Could Adversely Affect the Value of the Notes.

The SOFR Index is published by the Federal Reserve Bank of New York based on data received by it from sources other than the Issuer, and the Issuer has no control over its methods of calculation, publication schedule, rate revision practices or availability of the SOFR Index at any time. There can be no guarantee, particularly given its relatively recent introduction, that the SOFR Index will not be discontinued or fundamentally altered in a manner that is materially adverse to the interests of investors in the Notes. If the manner in which the SOFR Index is calculated, including the manner in which SOFR is calculated, is changed, that change may result in a reduction in the amount of interest payable on the Notes and the trading prices of the Notes. In addition, the Federal Reserve Bank of New York may withdraw, modify or amend the published SOFR Index or SOFR data in its sole discretion and without notice. The Rate of Interest for any Interest Period will not be adjusted for any modifications or amendments to the SOFR Index or SOFR data that the Federal Reserve Bank of New York may publish after the Rate of Interest for that Interest Period has been determined.

If the Issuer determines that a Benchmark Transition Event and its related Benchmark Replacement Date have occurred in respect of the SOFR Index or SOFR itself, then the Rate of Interest on the Notes will no longer be determined by reference to the SOFR Index, but instead will be determined by reference to a different rate, plus a spread adjustment, which we refer to as a "Benchmark Replacement," as further described in the Floating Rate Note Provisions.

If a particular Benchmark Replacement or Benchmark Replacement Adjustment cannot be determined, then the next-available Benchmark Replacement or Benchmark Replacement Adjustment will apply. These replacement rates and adjustments may be selected, recommended or formulated by (i) the Relevant Governmental Body (such as the ARRC), (ii) the International Swaps and Derivatives Association ("ISDA") or (iii) in certain circumstances, the Issuer itself. In addition, the terms of the Notes expressly authorize the Issuer to make Benchmark Replacement Conforming Changes with respect to, among other things, changes to the definition of "Interest Period", the timing and frequency of determining rates and making payments of interest and other administrative matters. The determination of a Benchmark Replacement, the calculation of the Rate of Interest on the Notes by reference to a Benchmark Replacement (including the application of a Benchmark Replacement Adjustment), any implementation of Benchmark Replacement Conforming Changes and any other determinations, decisions or elections that may be made under the terms of the Notes in connection with a Benchmark Transition Event, could adversely affect the value of the Notes, the return on the Notes and the price at which you can sell such Notes.

In addition, (i) the composition and characteristics of the Benchmark Replacement will not be the same as those of Compounded SOFR, the Benchmark Replacement may not be the economic equivalent of Compounded SOFR, there can be no assurance that the Benchmark Replacement will perform in the same way as Compounded SOFR would have at any time and there is no guarantee that the Benchmark Replacement will be a comparable substitute for Compounded SOFR (each of which means that a Benchmark Transition Event could adversely affect the value of the Notes, the return on the Notes and the price at which you can sell the Notes), (ii) any failure of the Benchmark Replacement to gain market acceptance could adversely affect the Notes, (iii) the Benchmark Replacement may have a very limited history and the future performance of the Benchmark Replacement may not be predicted based on historical performance, (iv) the secondary trading market for Notes linked to the Benchmark Replacement may be limited and (v) the administrator of the Benchmark Replacement may make changes that could change the value of the Benchmark Replacement or discontinue the Benchmark Replacement and has no obligation to consider your interests in doing so.

The Calculation Agent Will Make Determinations with respect to the Notes, and the Issuer May Exercise Subjective Discretion with respect to Compounded SOFR or Replacements Thereof.

The Calculation Agent will make certain determinations with respect to the Notes as further described under the Floating Rate Note Provisions, some of which determinations are in the Calculation Agent's sole discretion. Any determination, decision or election pursuant to the benchmark replacement provisions will be made by the Issuer. Any of these determinations may adversely affect the value of the Notes, the return on the Notes and the price at which you can sell such Notes. Moreover, certain determinations to be made by the Issuer may require the exercise of discretion and the making of subjective judgments, such as with respect to Compounded SOFR or the occurrence or non-occurrence of a Benchmark Transition Event and any Benchmark Replacement Conforming Changes. These potentially subjective determinations may adversely affect the value of the Notes, the return on the Notes and the price at which you can sell such Notes .

INTER-AMERICAN DEVELOPMENT BANK

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February 02, 2023 02:00 ET (07:00 GMT)

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