Impact Bonds: Considerations for Investment Returns and Pricing of Outcomes

This paper offers an initial framing of the challenge to set the terms of investment and pricing,so that outcome payer organizations can begin to address questions regarding how to approach pricing outcomes in impact bonds. This paper is not intended as a step-by-step “how-to guide”. Each deal is unique and different. Outcome payers are encouraged to use the tools laid out in this paper and to adapt them to the specific context.