Commentary & Deal Flow

Reoffer: Long 6yr: SONIA MS+36bp / 99.933 / 4.766%
Benchmark: Long 6yr: UKT 4 ¼ 7-Jun-32 @ 98.175 / UKT+9.9bp

Tranche 1 (Long 6yr): Final book above £1.9bn (incl. £225m JLM)

Launched: Long 6yr: £1.25bn @ SONIA MS+36bp - Final book above £1.9bn (incl. £225m JLM)
Book Update: Books above £1.8bn (incl. £225m JLM)
Spread set at: Long 6yr: SONIA MS+36bp - Books above £1.7bn (incl. £225m JLM)
Guidance: Long 6yr: SONIA MS+37a

• Issuer: World Bank (International Bank for Reconstruction and Development)
• Ticker: IBRD Corp
• Issue Rating: Aaa/AAA (Moody's/S&P)
• Format: Global (SEC Exempt) Registered Note. Sustainable Development Bond
• Size: £1.25bn
• Settlement: 4-Sep-26 (T+6)
• Maturity: 15-Nov-32
• Reoffer: SONIA MS (A,A/365) + 36bps / 4.766% Ann /4.711% S/A / 99.933
• Coupon: 4.75% Annual, ACT/ACT, short first on 15-Nov-26
• Benchmark: UKT 4 ¼ 7-Jun-32 + 9.9 bps (98.175 / yield 4.612%)
• Denoms: £1k + £1k
• Docs: Global Debt Issuance Facility
• Listing: Luxembourg Stock Exchange
• Leads: Barclays, Citi and Santander (DM/B&D)
• SEC Exemption: The Notes are not required to be registered with the U.S. Securities Act of 1933. Accordingly, no registration statement has been filed with the US Securities and Exchange Commission
• UOP: Bond proceeds support the World Bank’s sustainable development activities in member countries. World Bank’s latest Sustainable Development Bond Impact Report is https://worldbank.org/sdb-impact-report for examples of such eligible projects, programs, and activities. IBRD’s Sustainable Development Bond Framework is: https://worldbank.org/ibrd-sdb-framework
• Advertisement: The final prospectus, when published, will be available at https://treasury.worldbank.org/IBRDfunding
• Target Market: For MIFID II/UK MiFIR purposes, all target markets and all distribution channels are eligible
• ISIN: XS3487947957
• Timing: Priced - TOE 16:08 UKT - FTT immediately