The accuracy section of this standard states

The results of element-wise arithmetic operations ...
for floating-point operands must return the nearest representable value
according to IEEE 754-2019 and a supported rounding mode.

I believe this intends to allow (optionally, and not by default) the use of directed rounding, i.e., the IEEE 754-2019 rounding attributes roundTowardPositive, roundTowardNegative, and roundTowardZero.
However, directed rounding does not, in general, return the nearest representable value--only an attribute that rounds to nearest does that.
IEEE 754-2019 defines the term "correctly rounded", which I suggest is preferred here:

The results of element-wise arithmetic operations ...
for floating-point operands must return the correctly rounded value
according to IEEE 754-2019 and a supported rounding mode.