Obligation European Investment Bank (EIB) 15% ( XS1759469932 ) en ARS

European Investment Bank (EIB)

98.39 % ⇌

Luxembourg

XS1759469932 ( en ARS )

15% par an ( paiement annuel )

29/01/2020 - Obligation échue

Prospectus brochure de l'obligation European Investment Bank (EIB) XS1759469932 en ARS 15%, échue

10 000 ARS

500 000 000 ARS

L'Obligation émise par European Investment Bank (EIB) ( Luxembourg ) , en ARS, avec le code ISIN XS1759469932, paye un coupon de 15% par an.
Le paiement des coupons est annuel et la maturité de l'Obligation est le 29/01/2020

CONFORMED COPY
Final Terms
EUROPEAN INVESTMENT BANK
Debt Issuance Programme
Issue Number: 2329/0100
ARS 500,000,000 15.000 per cent. Bonds due 30th January, 2020
(payable in EUR)
Issue Price: 98.394 per cent.
J.P. Morgan
The date of these Final Terms is 26th January, 2018.

These Final Terms, under which the bonds described herein (the Bonds) are issued, are
supplemental to, and should be read in conjunction with, the offering circular (the Offering
Circular) dated 8th December, 2014 issued in relation to the debt issuance programme of
European Investment Bank (EIB). The Bonds will be issued on the terms of these Final Terms
read together with the Offering Circular. Terms defined in the Offering Circular have the same
meaning in these Final Terms.
EIB accepts responsibility for the information contained in these Final Terms which, when read
together with the Offering Circular, contain all information that is material in the context of the
issue of the Bonds.
These Final Terms do not constitute an offer of, or an invitation by or on behalf of anyone to
subscribe or purchase any of, the Bonds.
The statements on page 8 of the Offering Circular regarding structured Bonds are drawn to the
attention of the prospective purchaser of the Bonds. Such purchaser should ensure that it
understands the nature of the terms of the Bonds and the extent of its exposure to risk, and that it
considers the suitability of the Bonds as an investment in the light of its own circumstances and
financial condition.
Unless otherwise specified or the context otherwise requires, references to Argentine Peso,
Argentine Pesos and ARS are to the lawful currency of the Argentine Republic and references to
USD are to the lawful currency of the United States of America. The Bonds are denominated in
ARS but all payments in respect of the Bonds shall be made in euro (EUR).
On 29th March, 2017 the U.K. government triggered Article 50 of the Treaty on European Union,
which officially commenced the process of the U.K.s withdrawal from E.U. membership. In this
context, the European Union and the United Kingdom published on 8th December, 2017 a joint
report from the negotiators of the European Union and the United Kingdom Government on
progress during phase 1 of negotiations under Article 50 TEU on the United Kingdom's orderly
withdrawal from the European Union, which includes introductory remarks and the following
statement on the European Investment Bank:
"Remarks:
This report is put forward with a view to the meeting of the European Council (Article 50) of
14-15 December 2017. Under the caveat that nothing is agreed until everything is agreed, the
joint commitments set out in this joint report shall be reflected in the Withdrawal Agreement in
full detail. This does not prejudge any adaptations that might be appropriate in case transitional
arrangements were to be agreed in the second phase of the negotiations, and is without prejudice
to discussions on the framework of the future relationship."
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Issue Number: 2329/0100

"European Investment Bank (EIB)
74. The financial settlement should not disrupt the operational functioning of the EIB as a result
of the UK withdrawal in relation to the stock of operations (i.e. loans and other financial
instruments) at that point.
75. In this context, the UK will provide a guarantee for an amount equal to its callable capital on
the day of withdrawal. This guarantee will be decreased in line with the amortisation of the stock
of EIB operations at the date of withdrawal, starting on the date on which the outstanding stock
reaches an amount equal to the total subscribed capital on the date of withdrawal and ending on
the date it equals the total paid-in capital on the date of withdrawal, both as defined in the EIB
statute.
76. The UK share of the paid-in capital will be reimbursed in twelve annual instalments starting
at the end of 201911. The UK remains liable for the reimbursed amount of paid-in capital until the
outstanding stock of EIB operations equals the total paid-in capital on the date of withdrawal, at
which point the liability will start to be amortised in line with the remaining non-amortised
operations.
77. Apart from these reimbursements, the EIB will not make any other payment, return or
remuneration on account of the withdrawal of the UK from the EIB or on account of the provision
by the UK of a guarantee.
78. Any call to the callable guarantee or the paid-in (cash or guarantee) will be "pari-passu" with
calls on or payments made by the Member States provided that it is used for covering operations
at the withdrawal date or for covering risks (such as ALM (Asset-Liability management) risks or
operational risks) attributable to the stock of operations at the date of withdrawal. For other such
risks not associated with specific loans and not attributable to the stock of operations built after
the date of withdrawal, the UK responsibility will be proportional to the ratio between the stock
of outstanding operations and the total amount of operations at the date of the event.
79. The UK will maintain the EIB's privileges and immunities under Protocols 5 and 7 annexed to
the Treaties throughout the amortisation of the EIB's stock of operations at the date of
withdrawal.
80. The UK considers that there could be mutual benefit from a continuing arrangement between
the UK and the EIB. The UK wishes to explore these possible arrangements in the second phase
of the negotiations.
81. After the date of withdrawal, UK projects will not be eligible for new operations from the EIB
reserved for Member States, including those under Union mandates."
"11: The first eleven instalments will be EUR 300 000 000 each and the final one will be
EUR 195 903 950."
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Issue Number: 2329/0100

The EIB does not fall under the scope of application of the MiFID II package. Consequently, the
EIB does not qualify as an "investment firm", "manufacturer" or "distributor" for the purposes of
MiFID II.
Solely for the purposes of the manufacturers product approval process, the target market
assessment in respect of the Bonds has led to the conclusion that: (i) the target market for the
Bonds is eligible counterparties, professional clients and retail clients, each as defined in MiFID
II; and (ii) all channels for distribution of the Bonds are appropriate, subject to the distributors
suitability and appropriateness obligations under MiFID II, as applicable. Any person
subsequently offering, selling or recommending the Bonds (a distributor) should take into
consideration the manufacturers target market assessment; however, a distributor subject to
MiFID II is responsible for undertaking its own target market assessment in respect of the Bonds
(by either adopting or refining the manufacturers target market assessment) and determining
appropriate distribution channels, subject to the distributors suitability and appropriateness
obligations under MiFID II, as applicable.
For the purposes of this provision, the expression manufacturer means the Relevant Dealer and
the expression MiFID II means Directive 2014/65/EU, as amended.
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Issue Number: 2329/0100

The terms of the Bonds and additional provisions relating to their issue are as follows:
GENERAL PROVISIONS
1.
Issue Number:
2329/0100
2.
Security Codes:
(i)
ISIN:
XS1759469932
(ii)
Common Code:
175946993
3.
Specified Currency or Currencies:
ARS (provided that all payments will be made
in EUR)
4.
Principal Amount of Issue:
ARS 500,000,000
5.
Specified Denomination:
ARS 10,000
6.
Issue Date:
30th January, 2018
INTEREST PROVISIONS
7.
Interest Type:
Fixed Rate
(Further particulars specified below)
8.
Interest Commencement Date:
Issue Date
9.
Fixed Rate Provisions:
Applicable
(i)
Interest Rate(s):
15.000 per cent. per annum
(ii)
Interest Period End Date(s):
The dates that would be Interest Payment Dates
but without adjustment for any Business Day
Convention
(iii)
Interest Payment Date(s):
30th January in each year commencing
30th January, 2019 up to, and including, the
Maturity Date subject in each case to adjustment
in accordance with the Business Day
Convention specified below
(iv)
Business Day Convention:
Following
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Issue Number: 2329/0100

(v)
Interest Amount:
ARS 1,500 per Specified Denomination,
provided however, that the Interest Amount per
Specified Denomination will be paid on the
relevant Interest Payment Date in EUR, such
EUR amount obtained by dividing ARS 1,500
by the applicable Reference Rate (as defined in
the Annex) and rounded to the nearest cent with
one half of one cent rounded up
(vi)
Broken Amount:
Not Applicable
(vii)
Day Count Fraction:
Actual/Actual ICMA
(viii)
Business Day Centre(s):
Buenos Aires, London, Luxembourg, New York
and TARGET
(ix)
Other terms relating to the Not Applicable
method of calculating interest
for Fixed Rate Bonds:
10.
Floating Rate Provisions:
Not Applicable
11.
Zero Coupon Provisions:
Not Applicable
12.
Index-Linked Provisions:
Not Applicable
13.
Foreign Exchange Rate Provisions:
Not Applicable
NORMAL REDEMPTION PROVISIONS
14.
Redemption Basis:
Redemption at par, subject as provided in
paragraph 15
15.
Redemption Amount:
ARS 10,000 per Specified Denomination,
provided however, that the Redemption Amount
per Specified Denomination will be paid on the
Maturity Date in EUR, such EUR amount
obtained by dividing ARS 10,000 per Specified
Denomination by the applicable Reference Rate
and rounded to the nearest cent with one half of
one cent rounded up
16.
Maturity Date:
30th January, 2020
17.
Business Day Convention:
Following
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Issue Number: 2329/0100

OPTIONS AND EARLY REDEMPTION PROVISIONS
18.
Unmatured Coupons to become void Not Applicable
upon early redemption (Bearer Bonds
only):
19.
Issuers Optional Redemption:
Not Applicable
20.
Bondholders Optional Redemption:
Not Applicable
21.
Redemption Amount payable on Redemption at par; ARS 10,000 per Specified
redemption for an Event of Default:
Denomination, provided however, that the
Redemption
Amount
per
Specified
Denomination will be paid in EUR, such EUR
amount obtained by dividing ARS 10,000 per
Specified Denomination by the applicable
Reference Rate and rounded to the nearest cent
with one half of one cent rounded up
GENERAL PROVISIONS APPLICABLE TO THE BONDS
22.
Form of Bonds:
Registered Bonds
Global Certificate registered in the name of a
nominee for a common depositary for the
relevant clearing system which is exchangeable
for Definitive Certificates in the limited
circumstances specified therein
23.
New Global Note:
No
24.
Intended to be held in a manner which No. Whilst the designation is specified as "no"
would allow Eurosystem eligibility:
at the date of these Final Terms, should the
Eurosystem eligibility criteria be amended in the
future such that the Bonds are capable of
meeting them the Bonds may then be deposited
with one of the ICSDs as common safekeeper
and registered in the name of a nominee of one
of the ICSDs acting as common safekeeper.
Note that this does not necessarily mean that the
Bonds will then be recognised as eligible
collateral for Eurosystem monetary policy and
intra-day credit operations by the Eurosystem at
any time during their life. Such recognition will
depend upon the ECB being satisfied that
Eurosystem eligibility criteria have been met.
25.
Details relating to Partly Paid Bonds:
Not Applicable
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Issue Number: 2329/0100

26.
Details relating to Instalment Bonds:
Not Applicable
27.
Redenomination, renominalisation and Not Applicable
reconventioning provisions:
28.
Consolidation provisions:
Not Applicable
29.
Business Day Centre(s):
Buenos Aires, London, Luxembourg, New York
and TARGET
30.
Other terms or special conditions:
Not Applicable
DISTRIBUTION PROVISIONS
31.
Method of distribution:
Non-Syndicated
(i)
If syndicated, names of Not Applicable
Managers:
(ii)
If non-syndicated, name of J.P. Morgan Securities plc
Relevant Dealer:
(iii)
Stabilising manager(s) (if Not Applicable
any):
(iv)
Commission(s):
None
OPERATIONAL INFORMATION AND LISTING
32.
Any clearing system(s) other than Not Applicable
Euroclear Bank SA/NV (Euroclear)
or
Clearstream
Banking
S.A.
(Clearstream, Luxembourg) and the
relevant identification number(s):
33.
Agents appointed in respect of the Fiscal Agent, principal Paying Agent,
Bonds:
Registrar and Transfer Agent
Citibank, N.A., London Branch
13th Floor, Citigroup Centre
Canada Square
Canary Wharf
London E14 5LB
Paying Agent, Listing Agent and Transfer
Agent
Banque Internationale à Luxembourg S.A.
69, route dEsch
L-2953 Luxembourg
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Issue Number: 2329/0100

Calculation Agent
JPMorgan Chase Bank, N.A.
25 Bank Street
Canary Wharf
London E14 5JP
34.
Listing:
Luxembourg
35.
Governing law:
English
EUROPEAN INVESTMENT BANK:
By: SANDEEP DHAWAN
By: JENNIFER WENNER
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Issue Number: 2329/0100

ANNEX
ARS Valuation Date means, for any Interest Payment Date or the Maturity Date or date on which
an amount is payable in accordance with paragraph 21 of these Final Terms, as the case may be,
the fifth Valuation Business Day prior to such date, provided however that if such date is an
Unscheduled Holiday, the ARS Valuation Date shall be the next following Valuation Business
Day. In the event an ARS Valuation Date is deferred as a result of an Unscheduled Holiday and
the ARS Valuation Date has not occurred on or before the thirtieth consecutive day after such
ARS Valuation Date (any such period being a Deferral Period), then the next day after the
Deferral Period that would have been a Valuation Business Day but for the Unscheduled Holiday
shall be deemed to be the relevant ARS Valuation Date.
Valuation Business Day means a day (other than a Saturday or a Sunday) on which the banks
and foreign exchange markets are open for general business (including dealings in foreign
exchange and foreign currency deposits) in each of Buenos Aires, London, Luxembourg, New
York and TARGET.
Unscheduled Holiday means, in respect of an ARS Valuation Date, any day that is not a Buenos
Aires Business Day and the market was not aware of such fact (by means of a public
announcement or by reference to other publicly available information) until a time later than
9:00 a.m. local time in Buenos Aires two Buenos Aires Business Days prior to the relevant ARS
Valuation Date.
Reference Rate with respect to an Interest Payment Date or the Maturity Date or a date on which
an amount is payable in accordance with paragraph 21 of these Final Terms, will be the product
rounded to five decimal places (0.000005 being rounded down) of the applicable ARS Reference
Spot Rate and the applicable USD/EUR Spot Rate, as determined on the relevant ARS Valuation
Date.
(i)
Provisions relating to the ARS Reference Spot Rate
ARS Reference Spot Rate means, in respect of an ARS Valuation Date, the ARS/USD exchange
rate, expressed as the amount of ARS per one USD, determined by the Calculation Agent for the
relevant ARS Valuation Date by reference to the applicable ARS MAE (ARS05) Rate; provided
that, in the event that:
(a)
the ARS MAE (ARS05) Rate is not available for the applicable ARS Valuation Date (a
Price Source Disruption Event); or
(b)
the ARS MAE (ARS05) Rate is available but the Calculation Agent determines that an
Exchange Rate Divergence has occurred and is continuing,
the Calculation Agent shall promptly inform the Issuer and the Fiscal Agent of such
occurrence and the ARS Reference Spot Rate will be determined by the Calculation
Agent in the following order:
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Issue Number: 2329/0100