Obbligazione European Investment Bank (EIB) 0% ( XS0162727878 ) in CZK

Emittente European Investment Bank (EIB)
Prezzo di mercato refresh price now   100 CZK  ▲ 
Paese  Lussemburgo
Codice isin  XS0162727878 ( in CZK )
Tasso d'interesse 0%
Scadenza 21/02/2028



Prospetto opuscolo dell'obbligazione European Investment Bank (EIB) XS0162727878 en CZK 0%, scadenza 21/02/2028


Importo minimo 100 000 CZK
Importo totale 1 000 000 000 CZK
Descrizione dettagliata La Banca Europea per gli Investimenti (BEI) č l'istituzione finanziaria dell'Unione europea che fornisce finanziamenti a lungo termine per progetti di investimento in tutta Europa e nei paesi in via di sviluppo.

The Obbligazione issued by European Investment Bank (EIB) ( Luxembourg ) , in CZK, with the ISIN code XS0162727878, pays a coupon of 0% per year.
The coupons are paid 1 time per year and the Obbligazione maturity is 21/02/2028







Offering Circular
European
Investment
Bank
EUR 50,000,000,000
Debt Issuance Programme
This offering circular describes the debt issuance programme under which European Investment
Bank may from time to time issue debt securities in the international bond market. Such securities
will be issued on the terms and conditions set out in this document as modiŽed and supplemented
by a pricing supplement published at the time of issue.
Application has been made to list the securities to be issued under this programme on the
Luxembourg Stock Exchange. However, unlisted securities, and securities listed on other stock
exchanges, may also be issued.
Securities issued under the programme will (unless otherwise speciŽed in the relevant pricing
supplement) be issued in global form to a common depositary for Euroclear Bank and Clearstream
Banking Luxembourg (each as deŽned below). For more details see ``Summary of provisions
relating to the securities while in global form'' on page 20.
In many countries it is unlawful to offer securities for sale without complying with certain laws and
regulations. No securities issued under this programme may be offered or sold except in
compliance with such laws and regulations. Readers of this document should inform themselves
about such laws and restrictions. For more details see ``Subscription and sale'' on page 24.
Arrangers
Deutsche Bank
Goldman Sachs International
The date of this offering circular is 21 May 2002


CONTENTS
Page
Notice to readers
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Summary description of the programme
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Risk factors applicable to structured securities
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Terms and conditions of the securities P
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Summary of provisions relating to the securities while in global form
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Collective securities
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Subscription and sale P
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Form of pricing supplement P
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General information
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NOTICE TO READERS
This document, together with each pricing supplement, contains all the information that European
Investment Bank has authorised to be published concerning the programme. Any information not
contained herein must not be relied upon as having been authorised by European Investment
Bank, the Arrangers or any relevant dealer. This document does not constitute an offer of, or an
invitation to purchase, any securities.
In connection with any issue of securities, one of the relevant dealers may act as stabilising
manager. The identity of the stabilising manager will be disclosed in the relevant pricing
supplement. The stabilising manager may over-allot or effect transactions with a view to supporting
the market price of the securities at a level higher than that which might otherwise prevail for a
limited period after the issue date. However there may be no obligation on the stabilising agent to
do this. Such stabilising, if commenced, may be discontinued at any time. It must be carried out in
accordance with applicable laws and regulations and must be brought to an end after a limited
period.
The terms and conditions set out in this offering circular apply to issues of securities on or after
the date of this offering circular unless the relevant pricing supplement speciŽes that the terms and
conditions set out in another offering circular apply to such issue. This offering circular was last
revised on the date appearing on the cover. It speaks as of that date only.
2


SUMMARY DESCRIPTION OF THE PROGRAMME
The following is a summary only. For full details, refer to the appropriate section elsewhere in this
document. Securities may be issued on terms that are different from those appearing in this
document. If so, the relevant terms will be speciŽed in the pricing supplement relating to those
securities.
Issuer:
European Investment Bank (``EIB'')
Programme limit:
EUR 50,000,000,000 (or the equivalent in other currencies at
the date of issue) aggregate net proceeds of securities
outstanding at any one time.
Agents and dealers:
Citibank, N.A. is the Žscal agent under the programme. Other
agents are listed at the end of this offering circular. The
relevant dealers appointed in relation to each issue of
securities will be identiŽed in the relevant pricing supplement.
Method of issue:
Securities may be issued on a multi-dealer (``syndicated'') or
single-dealer basis (``non-syndicated'').
Further issues:
If an issue is intended to be consolidated and form a single
series with an existing issue, its terms will be identical to the
terms of that existing issue save in respect of the principal
amount, issue date, Žrst interest payment date (if any) and
issue price.
Issue price:
Securities may be issued at their principal amount or at a
discount or premium to their principal amount. Partly-paid
securities may be issued, the issue price of which will be
payable in two or more instalments.
Form of securities:
Securities may be issued in the following forms:
(i) bearer
(ii) registered
(iii) bearer exchangeable for registered.
Clearing systems:
Securities will normally be initially issued to a common
depositary for Euroclear Bank S.A./N.V. as operator of the
Euroclear system (``Euroclear'') and Clearstream Banking,
socieÂte anonyme (``Clearstream Banking Luxembourg'').
Securities may also be issued to a custodian for Clearstream
Banking Aktiengesellschaft (``Clearstream Banking Frankfurt'')
or for any other clearing system agreed by EIB, the relevant
dealer and the Fiscal Agent.
Currencies:
Any currency (subject to compliance with relevant laws).
Maturities:
Any maturity (subject to compliance with relevant laws).
Denominations:
As speciŽed in the relevant pricing supplement.
Redemption:
Principal may be repaid in a single payment at maturity, or by
instalments.
Optional redemption:
Each pricing supplement will state whether the relevant
securities may be redeemed prior to their stated maturity at
the option of EIB (either in whole or in part) and/or the
holders, and if so the terms applicable to such redemption.
Purchase of securities by EIB:
EIB may at any time purchase securities in the open market
or otherwise at any price. Any securities so purchased may be
held, sold or cancelled at EIB's discretion.
3


Status of securities:
Senior unsecured. See ``Status and Negative Pledge'' on
page 7.
Negative pledge:
Securities will be issued with the beneŽt of EIB's standard
negative pledge. See ``Status and Negative Pledge'' on page 7.
Cross-default:
Securities will be issued with the beneŽt of EIB's standard
cross-default clause. See ``Events of Default'' on page 13.
Governing law:
English law, Luxembourg law or another governing law as
speciŽed in the relevant pricing supplement.
Listing:
Securities may be listed or unlisted. Listed securities will
normally be listed on the Luxembourg Stock Exchange, but
may be listed on another stock exchange.
Redenomination:
Securities denominated in a currency that may be converted
into euro may be subject to special provisions relating to
redenomination, renominalisation and/or consolidation with
other securities denominated in euro, if speciŽed in the
relevant pricing supplement.
RISK FACTORS RELATING TO STRUCTURED SECURITIES
Structured securities are securities in relation to which principal and/or interest is linked to
exchange rates, commodity prices, interest rates, credit events or other assets, indices, formulae or
events or which may be redeemed early at the option of EIB.
An investment in structured securities may entail signiŽcant risks not associated with similar
investments in conventional debt securities, including the risks that the resulting interest rate will be
less than that payable on a conventional debt security at the same time and/or that an investor
could lose all or a substantial portion of the principal amount of its investment.
Historical values should not be taken as an indication of future values.
This section does not describe all the risks of an investment in structured securities. Prospective
purchasers should consult their own professional advisers about the risks associated with
investment in a particular series of securities and the suitability of investing in those securities in
the light of their particular circumstances.
4


TERMS AND CONDITIONS OF THE SECURITIES
The following are the terms and conditions (the ``Conditions'') that, as supplemented or varied by
the relevant pricing supplement, shall be applicable to the securities in deŽnitive form (if any)
issued in exchange for the global bond(s) or collective bond representing them. The full text of the
terms and conditions of any series of securities shall be endorsed on the relevant deŽnitive bonds
or certiŽcates. References in these conditions to ``Bonds'' are to securities of one series only, not
to all securities that may be issued under the programme.
While Bonds are in global form, these Conditions are supplemented and varied by other provisions.
See ``Summary of provisions relating to securities in global form'' on page 20.
Where information is stated to be ``speciŽed'', it will be speciŽed in the pricing supplement relating
to the Bonds. Capitalised terms which are not deŽned within the text are deŽned in Condition 18 or
by the pricing supplement.
1.
Agency Agreement and Agents
The Bonds are issued pursuant to the Agency Agreement between European Investment Bank
(``EIB'') as issuer and Citibank, N.A. as Fiscal Agent, principal Paying Agent, Registrar, Transfer
Agent and Calculation Agent and Dexia Banque Internationale aÁ Luxembourg S.A. as Paying Agent
and Transfer Agent. Bondholders are deemed to have notice of all of the provisions of the Agency
Agreement.
If the pricing supplement states that the Bonds are governed by English law, then the Bonds are
issued additionally with the beneŽt of the Deed of Covenant executed by EIB.
The pricing supplement will specify the identities of the agents appointed in relation to the Bonds,
and the ofŽce(s) out of which they are acting for that purpose. In the case of Bearer Bonds, this
will include the Fiscal Agent and principal Paying Agent and may include one or more additional
Paying Agents. In the case of Registered Bonds, this will include the Fiscal Agent and the
Registrar and may include one or more Transfer Agents. Unless otherwise speciŽed, the Fiscal
Agent will also act as Calculation Agent. In these conditions, the term ``Paying Agent'' shall include
the Fiscal Agent.
The Fiscal Agent, the Paying Agents, the Registrar, the Transfer Agents and the Calculation Agent
act solely as agents of EIB and do not assume any obligation or relationship of agency or trust for
or with any Bondholder or Couponholder. EIB reserves the right at any time to vary or terminate
the appointment of any agent and to appoint additional or other agents, provided that EIB shall at
all times maintain a Fiscal Agent, a Registrar (in relation to Registered Bonds), one or more
Calculation Agents where the conditions so require and such other agents as may be required by
the rules of any stock exchange on which the Bonds may be listed. Notice of any change in the
identity or the speciŽed ofŽce of any agent will promptly be given to Bondholders.
2.
Form, Denomination and Title
The Bonds are issued either as Bearer Bonds or as Registered Bonds. Exchangeable Bearer
Bonds may, as so speciŽed, be exchanged for an equivalent principal amount of Registered Bonds.
Bonds will be issued in the denomination(s) speciŽed. When used below, the expression ``Bearer
Bonds'' includes Exchangeable Bearer Bonds.
Bearer Bonds are serially numbered and, if they bear interest, are issued with Coupons and, if
necessary, Talons, attached. Bearer Bonds that are redeemable in instalments of principal are
issued with Receipts attached.
CertiŽcates shall be issued to Holders of Registered Bonds. Title to Bearer Bonds, Coupons and
Talons shall pass by delivery. Title to Registered Bonds shall pass by registration in the Register.
Each Receipt is to be detached from its Bond only by a Paying Agent when the relevant instalment
of principal is paid, to show that the Holder of the Bond has received that instalment of principal. A
Receipt is not a bearer instrument and title to it cannot pass separately from the Bond to which it
is attached on issue. If detached from the relevant Bond it is, therefore, of no effect.
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The Holder of any Bond, Coupon or Talon shall be deemed to be its absolute owner for all
purposes, regardless of any notice of trust or joint ownership, any writing on it (or on the
CertiŽcate representing it) or its theft or loss (or that of the related CertiŽcate).
Bearer Bonds, once issued in deŽnitive form in one denomination, may not be exchanged for
Bearer Bonds of another denomination.
3.
Provisions relating to Registered Bonds
(a) Exchange of Exchangeable Bearer Bonds
Subject as provided in paragraph (f) below, Exchangeable Bearer Bonds may be exchanged for the
same aggregate principal amount of Registered Bonds at the request in writing of the relevant
Bondholder. The Bondholder must surrender each Exchangeable Bearer Bond to be exchanged,
together with all unmatured Coupons and Talons relating to it, at the speciŽed ofŽce of a Transfer
Agent. In this context an ``unmatured'' Coupon is one in relation to which the Record Date has not
yet occurred.
(b) Transfer of Registered Bonds
Registered Bonds may be transferred upon the surrender (at the speciŽed ofŽce of the Registrar or
a Transfer Agent) of the CertiŽcate representing such Registered Bonds, together with the form of
transfer endorsed on such CertiŽcate duly completed and executed and any other evidence that
the Registrar or Transfer Agent may reasonably require. In the case of a transfer of part only of a
holding of Registered Bonds represented by one CertiŽcate, the existing CertiŽcate shall be
cancelled and two new CertiŽcates shall be issued: one to the transferee, in respect of the Bonds
transferred, and one to the transferor, in respect of the Bonds not transferred.
(c) Exercise of options in respect of, or partial redemption of, Registered Bonds
In the case of an exercise of EIB's or a Bondholder's option in respect of, or a partial redemption
of, a holding of Registered Bonds represented by a single CertiŽcate, a new CertiŽcate shall be
issued to the Holder to reŻect the exercise of such option or in respect of the balance of the
holding not redeemed. In the case of a partial exercise of an option resulting in Registered Bonds
of the same holding having different terms, separate CertiŽcates shall be issued in respect of those
Bonds of that holding that have the same terms. New CertiŽcates shall only be issued against
surrender of the existing CertiŽcates to the Registrar or a Transfer Agent. In the case of a transfer
of Registered Bonds to a person who is already a holder of Registered Bonds, a new CertiŽcate
representing the enlarged holding shall only be issued against surrender of the CertiŽcate
representing the existing holding.
(d) Delivery of new CertiŽcates
Each new CertiŽcate to be issued pursuant to this condition shall be available for delivery within
three business days (at the speciŽed ofŽce of the Registrar or the relevant Transfer Agent) of
receipt of the required documentation by the Registrar or a Transfer Agent. Delivery of the new
CertiŽcate shall be made by collection from the ofŽce to which the relevant application was made.
Alternatively, if requested in writing by the Holder of the Bonds represented by the new CertiŽcate
(and at such Holder's risk), the new CertiŽcate may be despatched by uninsured mail to the
address speciŽed by the Holder.
(e) Registration free of charge
Neither EIB, the Registrar nor any Transfer Agent shall charge for any registration. However, if any
tax or duty is, or may be, imposed in connection with such registration, registration may be refused
until the person applying for the registration has paid such tax or duty (or has given such
indemnity as the Registrar or Transfer Agent may require).
(f)
Closed periods
No Bondholder may require the transfer of a Registered Bond to be registered or an Exchangeable
Bearer Bond to be exchanged:
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(i)
during the period of Žfteen days before the Žnal redemption date of the Bond or the date for
payment of an instalment of principal
(ii) during the period of Žfteen days before any date on which the Bond may be called for redemption
by EIB on exercise of an issuer's option
(iii) after the Bond has been called for redemption by EIB on exercise of an issuer's option or
(iv) during the period of seven days before any Record Date.
An Exchangeable Bearer Bond called for redemption by EIB on exercise of an issuer's option may,
however, be exchanged for one or more Registered Bond(s) before the relevant Record Date. In
such an event the Registrar or Transfer Agent may require the new CertiŽcate to be surrendered
immediately on issue.
4.
Status and Negative Pledge
The Bonds, Coupons and Talons will be unconditional, direct and general obligations of EIB in
accordance with their terms for their payment and performance. The Bonds, Coupons and Talons
will rank pari passu with any present or future indebtedness of EIB represented by any
unsubordinated notes, bonds or other securities, except indebtedness (i) incurred for all or part of
the purchase price of property purchased by EIB and (ii) secured by any mortgage, pledge or other
security interest on such property but otherwise ranking pari passu with the Bonds, Coupons and
Talons. If EIB shall in the future secure any such present or future indebtedness by any mortgage,
pledge or other security interest on any present or future assets or revenues (other than
mortgages, pledges or security interests on property purchased by EIB as security for all or part of
the purchase price), the Bonds, Coupons and Talons will be secured by such mortgage, pledge or
security interest equally and rateably with such indebtedness and the instrument creating such
mortgage, pledge or other security interest will expressly so provide.
5.
Interest and other Calculations
(a) Interest Rate and accrual
Each Bond shall be of the Interest Type speciŽed.
Each Bond (except those with an Interest Type speciŽed as Zero Coupon) shall bear interest at
the rate(s) speciŽed in respect of the period from the Interest Commencement Date to the Žrst
Interest Period End Date and each successive period from one Interest Period End Date to the
next. Each of these periods is a ``Calculation Period''. When counting the number of days in any
period, the Žrst day shall be included, but not the last.
The amount of interest payable on any Bond in respect of any period shall be the product of the
following formula:
Outstanding principal amount of Bond x Interest Rate for the relevant Calculation Period x Day
Count Fraction
Interest shall be payable in arrear on each Interest Payment Date.
Interest shall cease to accrue on each Bond on the due date for redemption unless, when the
Bond is presented for payment of principal, payment is improperly withheld or refused, in which
event interest shall continue to accrue (both before and after judgment) at the Interest Rate until
the Actual Payment Date. The foregoing rule shall also apply, mutatis mutandis, in the event of
late payment of an instalment of principal or the late payment of interest.
If no Day Count Fraction is speciŽed, the Day Count Fraction will be determined by the Calculation
Agent in accordance with market practice.
(b) Interest Rate on Fixed Rate Bonds
If the Interest Type is speciŽed as being Fixed Rate, the Interest Rate for the relevant Calculation
Period shall be the rate, expressed as a decimal, equal to the per annum rate speciŽed.
However, if an Interest Amount in respect of each or any Calculation Period (or a Broken Amount
in respect of any period less than a full Calculation Period), or a method for its calculation, is
7


speciŽed the amount of interest payable on the Interest Payment Date applicable to such period
shall be that Interest Amount (or Broken Amount), or shall be calculated in accordance with that
method, speciŽed instead of in accordance with Condition 5(a).
(c) Interest Rate on Floating Rate Bonds
If the Interest Type is speciŽed as being Floating Rate, the Interest Rate for the relevant
Calculation Period shall be determined by the Calculation Agent on each Interest Determination
Date in accordance with the following provisions. The Interest Rate for each Calculation Period
shall apply with effect from the Reset Date for that Calculation Period.
If the pricing supplement speciŽes ``Screen Page'', the Interest Rate for a Reset Date shall be the
rate for deposits in the Relevant Currency for a period of the Designated Maturity which appears
on that Screen Page as of the Interest Determination Time on the Interest Determination Date,
provided that if such rate does not appear on the Screen Page, the Interest Rate for that Reset
Date shall be determined as if the pricing supplement had speciŽed ``Reference Banks''.
If the pricing supplement speciŽes ``Reference Banks'', the Interest Rate for a Reset Date will be
determined on the basis of the rates at which deposits in the Relevant Currency are offered by the
Reference Banks at approximately the Interest Determination Time on the Interest Determination
Date to prime banks in the Reference Market for a period of the Designated Maturity commencing
on that Reset Date and in a Representative Amount. The Calculation Agent will request each of
the Reference Banks to provide a quotation of its rate. If at least two quotations are provided, the
Interest Rate for that Reset Date shall be the arithmetic mean of the quotations. If fewer than two
quotations are provided as requested, the rate for that Reset Date will be the arithmetic mean of
the rates quoted by major banks in the principal Žnancial centre of the relevant currency (or if the
Relevant Currency is the euro, major banks in the euro-zone) at approximately the Interest
Determination Time on that Reset Date for loans in the Relevant Currency to leading European
banks for a period of the Designated Maturity commencing on that Reset Date and in a
Representative Amount. However, if fewer than two such banks are so quoting to leading
European banks, the Interest Rate shall be determined by the Calculation Agent in its discretion,
having taken into account relevant market practice.
If, on any Interest Determination Date, rates are not available for a period exactly equal to the
Designated Maturity then, unless it is speciŽed that Linear Interpolation does not apply (in which
case a substitute method of determination shall be speciŽed), the Interest Rate to be determined
on that date shall be determined through the use of straight-line interpolation by reference to the
rates appearing on the Screen Page or quoted by the Reference Banks, as applicable, for two
different periods, one of which shall be the period of time for which rates are available next shorter
than the Designated Maturity, and the other of which shall be the period of time for which rates are
available next longer than the Designated Maturity.
(d) Business Day Conventions
Certain dates may be speciŽed to be subject to adjustment in accordance with a Business Day
Convention. If such a date would otherwise fall on a day that is not a Business Day, then, if the
Business Day Convention is speciŽed to be:
(i)
``Following'', that date shall be postponed to the Žrst following day that is a Business Day
(ii) ``ModiŽed Following'', that date shall be postponed to the Žrst following day that is a Business Day
unless that day falls in the next calendar month, in which case that date shall be brought forward to
the Žrst preceding day that is a Business Day
(iii) ``Preceding'', that date shall be brought forward to the Žrst preceding day that is a Business Day or
(iv) ``FRN'', that date shall be postponed to the Žrst following day that is a Business Day unless that day
falls in the next calendar month, in which event such date shall be brought forward to the Žrst
preceding day that is a Business Day, and each subsequent such date shall be the last Business
Day of the month in which such date would have fallen had it not been subject to adjustment.
8


(e) Margin, Rate Multiplier, maximum and minimum amounts
If any Margin or Rate Multiplier is speciŽed, an adjustment shall be made to the Interest Rate by
adding such Margin or multiplying by such Rate Multiplier.
If a maximum or minimum for any amount (such as an Interest Rate, Instalment Amount or
Redemption Amount) is speciŽed, then such amount shall, notwithstanding any other provision in
these conditions, be subject to such maximum or minimum.
(f)
Calculations and publication of information
Unless otherwise speciŽed, amounts payable in euro, U.S. dollars, pounds sterling or Japanese
yen shall be rounded to the nearest cent, penny or yen, with one half of one cent, penny or yen
rounded up.
Unless otherwise speciŽed, percentages shall be rounded to the nearest one-hundred-thousandth
of a percentage point, with 0.000005% rounded up.
Each determination or calculation by the Calculation Agent shall, in the absence of manifest error,
be Žnal and binding upon all parties.
As soon as practicable after the Calculation Agent has determined each amount of interest
payable, each Instalment Amount or each Redemption Amount (other than in a case where such
amount can be calculated from the face of these conditions without the making of any
determination) the Calculation Agent shall cause such rates and/or amounts to be notiŽed to EIB,
each of the Paying Agents, the Bondholders, any other Calculation Agent appointed in respect of
the Bonds that is to make a further calculation upon receipt of such information and, if the Bonds
are listed on a stock exchange and the rules of such exchange so require, such exchange. Such
notiŽcations shall be made within the time limits speciŽed in the Agency Agreement or Calculation
Agency Agreement, as applicable.
(g) Appointment of Calculation Agent(s)
EIB shall procure that so long as any Bond is outstanding there shall at all times be one or more
Calculation Agents if provision is made for them in these Conditions. Where more than one
Calculation Agent is appointed in respect of the Bonds, references in these conditions to the
Calculation Agent shall be construed as each Calculation Agent performing its respective duties in
relation to the Bonds. If the Calculation Agent is unable or unwilling to act as such or if the
Calculation Agent fails duly to establish the Interest Rate for a Calculation Period or to calculate
any amount of interest payable, any Instalment Amount or any Redemption Amount or to comply
with any other requirement, EIB shall appoint a leading bank active in the Reference Market to act
as such in its place. The Calculation Agent may not resign its duties without a successor having
been appointed by EIB.
6.
Redemption and Options
(a) Normal redemption
Each Bond (other than a Bond that provides for Instalment Dates and Instalment Amounts) shall
be redeemed on the Maturity Date at its Redemption Amount (which, unless otherwise speciŽed,
shall be its principal amount).
Each Bond that provides for Instalment Dates and Instalment Amounts shall be partially redeemed
on each Instalment Date in the Instalment Amount speciŽed. The outstanding principal amount of
each such Bond shall be reduced by the Instalment Amount with effect from the relevant
Instalment Date, unless payment of the Instalment Amount is improperly withheld or refused, in
which case such amount shall remain outstanding until the Actual Payment Date relating to such
Instalment Amount.
(b) Early redemption of Zero Coupon Bonds following an Event of Default
The amount payable in respect of a Bond in relation to which the Interest Type is speciŽed as
being Zero Coupon upon it becoming due and payable following an Event of Default shall be the
present value of its scheduled Redemption Amount discounted back from the Maturity Date to the
9


date on which it becomes due and payable using an annual discount rate equal to the Amortisation
Yield.
(c) Redemption or other action at the option of EIB
If it is speciŽed that Issuer's Optional Redemption applies, the Bonds may be redeemed at the
option of EIB within the Issuer's Exercise Period. If ``Yes'' is speciŽed in relation to the item
``Permitted in Part'', EIB may redeem all or some only of the Bonds. The Bonds to be redeemed
shall, unless a different Issuer's Optional Redemption Price is speciŽed, be redeemed at a
Redemption Amount equal to 100% of their principal amount together with any interest accrued to
the date of redemption.
In order to exercise its option, EIB must give the speciŽed Amount of Notice to the Bondholders
specifying the date within the Issuer's Exercise Period on which redemption shall take place. Such
notice shall be irrevocable. In the case of redemption of some Bonds only, the Bonds to be
redeemed shall be selected by lot and the notice to Bondholders shall state the serial numbers of
the Bonds to be redeemed. Selection shall take place in compliance with any applicable laws and
stock exchange requirements.
When any Bearer Bond is redeemed at the option of EIB, all unmatured Coupons and
unexchanged Talons relating to that Bond shall be cancelled and no payment shall be made in
respect of them.
So long as the Bonds are listed on the Luxembourg Stock Exchange and the rules of that
exchange so require, EIB shall, once in each year in which there has been a partial redemption of
the Bonds, cause to be published in a leading newspaper of general circulation in Luxembourg
(which is expected to be the Luxemburger Wort) a notice specifying the aggregate principal amount
of Bonds outstanding and a list of the serial numbers of Bonds drawn for redemption but not
surrendered.
If EIB has the option to take any other action in relation to the Bonds, the provisions relating to
such option shall be set out in the pricing supplement.
(d) Redemption or other action at the option of Bondholders
If it is speciŽed that Bondholder's Optional Redemption applies, any Bond may be redeemed at the
option of its Holder within the Bondholder's Exercise Period. The Bonds to be redeemed shall,
unless a different Bondholder's Optional Redemption Price is speciŽed, be redeemed at a
Redemption Amount equal to 100% of their principal amount together with any interest accrued to
the date of redemption.
In order to exercise its option, the Holder of a Bearer Bond must deposit such Bond, together with
all unmatured Coupons and unexchanged Talons, with any Paying Agent at its speciŽed ofŽce,
together with a duly completed option exercise notice in the form obtainable from any Paying
Agent; the Holder of a Registered Bond must deposit the CertiŽcate relating to such Bond with the
Registrar or any Transfer Agent at its speciŽed ofŽce, together with a duly completed option
exercise notice in the form obtainable from the Registrar or any Transfer Agent. In each case the
deposit must be made within the Bondholder's Exercise Period, and shall be irrevocable. If all
unmatured Coupons and unexchanged Talons are not surrendered in accordance with this
paragraph, exercise of the option shall be refused.
If Bondholders have the option to take any other action in relation to the Bonds, the provisions
relating to such option shall be set out in the pricing supplement.
7.
Provisions related to index-linked Bonds
This Condition shall apply, unless otherwise speciŽed, in relation to any amount or rate the value
of which is based upon the level of an index.
(a) Market Disruption Event
If Market Disruption Event is speciŽed as applying and a Market Disruption Event has occurred
and is continuing on a Valuation Date, that Valuation Date shall be postponed to the Žrst
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