<PAGE>
UNITED STATES
SECURITIES AND EXCHANGE COMMISSION
450 Fifth Street, N.W.
Washington, D.C. 20549
REPORT OF
INTERNATIONAL BANK FOR RECONSTRUCTION AND DEVELOPMENT
In respect of its
U.S. Dollar 15,000,000 Callable 6.36 per cent. Bonds of 1999, due June 23, 2004
Filed pursuant to Rule 3 of Regulation BW
Dated: June 17, 1999
<PAGE>
The following information regarding the U.S. Dollar 15,000,000 Callable
6.36 per cent. Bonds of 1999, due June 23, 2004 (the "Notes") of the
International Bank for Reconstruction and Development is being filed pursuant to
Rule 3 of Regulation BW. As authorized by Rule 4 of Regulation BW, certain
information is provided in the form of a Prospectus (the "Prospectus") for the
Bank's Global Debt Issuance Facility (the "Facility"), the most recent version
of which (dated October 7, 1997) is already on file with the Securities and
Exchange Commission, and in the form of an Information Statement (the
"Information Statement"), the most recent version of which (dated September 30,
1998) is already on file with the Securities and Exchange Commission.
Item 1. DESCRIPTION OF OBLIGATIONS
(a) U.S. Dollar 15,000,000 Callable 6.36 per cent. Bonds of 1999,
due June 23, 2004.
(b) The interest rate shall be 6.36 per cent., payable monthly on
the 23rd of each month.
(c) Maturing June 23, 2004. The maturity of the Notes may be
accelerated if the Bank shall default in the payment of the principal of, or
interest on, or in the performance of any covenant in respect of a purchase fund
or a sinking fund for any bonds, notes (including the Notes) or similar
obligations which have been issued, assumed or guaranteed by the Bank, such
default shall continue for a period of 90 days, a holder notifies the Bank that
it elects to declare the principal of Notes held by it to be due and payable,
and all such defaults have not been cured by 30 days after such notice has been
delivered. Any such notice shall be accompanied by appropriate proof that the
notifying party is a Noteholder.
(d) Notes are callable by the Bank at par on June 23, 2000 and
semi-annually thereafter with 10 days' notice.
(e) Bank's standard negative pledge clause (see Condition 4 on
page 22 of the Prospectus).
(f) Not applicable.
(g) No provisions have been made for the amendment or
modification of the terms of the obligations by the holders thereof or
otherwise.
(h) See Prospectus, pages 6-10.
(i) Federal Reserve Bank of New York, 33 Liberty Street, New
York, New York.
Item 2. DISTRIBUTION OF OBLIGATIONS
The Bank will enter into a Terms Agreement with Merrill Lynch as
Manager (the "Manager"), pursuant to which the Bank will agree to issue, and
the Manager will agree to
<PAGE>
purchase, a principal amount of the Notes aggregating USD 15,000,000 at 100%,
less commissions of 0.75% of par. The Notes will be offered for sale subject
to issuance and acceptance by the Manager and subject to prior sale. It is
expected that delivery of the Notes will be made on or about June 23, 1999.
The Terms Agreement will provide that the obligations of the
Manager are subject to certain conditions, including the continued accuracy of
the Bank's representations and warranties set forth in the Bank's Standard
Provisions relating to the issuance of notes under the Global Debt Issuance
Facility (the "Standard Provisions"), the most recent version of which (dated as
of October 7, 1997) is already on file with the Securities and Exchange
Commission.
The Manager is expected to offer the Notes to the public at 100%.
Item 3. DISTRIBUTION SPREAD
<TABLE>
<CAPTION>
Price to Selling Discounts and Proceeds to the Bank(1)
Public Commissions
<S> <C> <C>
Per Unit: 100% 0.75% 99.25%
Total: USD 15,000,000 USD 112,500 USD 14,887,500
</TABLE>
Item 4. DISCOUNTS AND COMMISSIONS TO SUB-UNDERWRITERS AND DEALERS
None
Item 5. OTHER EXPENSES OF DISTRIBUTION
Not yet known.
Item 6. APPLICATION OF PROCEEDS
The net proceeds will be used in the general operations of the
Bank.
Item 7. EXHIBITS
None
- --------
(1) Without deducting expenses of the Bank, which are not yet known.
