Obligation European Investment Bank (EIB) 1.93% ( NO0010842677 ) en NOK

Société émettrice European Investment Bank (EIB)
Prix sur le marché 100 %  ▼ 
Pays  Luxembourg
Code ISIN  NO0010842677 ( en NOK )
Coupon 1.93% par an ( paiement trimestriel )
Echéance 14/02/2024 - Obligation échue



Prospectus brochure de l'obligation European Investment Bank (EIB) NO0010842677 en NOK 1.93%, échue


Montant Minimal 10 000 NOK
Montant de l'émission 2 000 000 000 NOK
Description détaillée La Banque européenne d'investissement (BEI) est l'institution de financement à long terme de l'Union européenne, soutenant des projets d'investissement dans les États membres de l'UE et dans les pays hors UE.

L'Obligation émise par European Investment Bank (EIB) ( Luxembourg ) , en NOK, avec le code ISIN NO0010842677, paye un coupon de 1.93% par an.
Le paiement des coupons est trimestriel et la maturité de l'Obligation est le 14/02/2024








Offering Circular

European Investment Bank
NOK 2,000,000,000 Floating Rate Bonds 2019/2024
(consisting of Tranche 1 (NOK 1,000,000,000), Tranche 2 (NOK 500,000,000) and Tranche 3
(NOK 500,000,000))
This offering circular (the "Offering Circular") is prepared in relation to the issuance by the European Investment Bank
("EIB") of NOK 2,000,000,000 Floating Rate Bonds 2019/2024 consisting of NOK 1,000,000,000 Floating Rate Bonds
2019/2024 at an issue price of 107.5018 per cent. of their nominal amount (the "Tranche 1") , NOK 500,000,000 Floating Rate
Bonds 2019/2024 at an issue price of 107.5038 per cent. of their nominal amount (the "Tranche 2") and NOK 500,000,000
Floating Rate Bonds 2019/2024 at an issue price of 107.5038 per cent. of their nominal amount (the "Tranche 3", together with
Tranche 1 and Tranche 2, the "Bonds").
Application has been made to the Luxembourg Stock Exchange for the Bonds to be admitted to the official list of the
Luxembourg Stock Exchange (the "Official List") and to be admitted to trading on the Luxembourg Stock Exchange's
regulated market. The Luxembourg Stock Exchange's regulated market is a regulated market for the purposes of Directive
2004/39/EC of the European Parliament and of the Council on markets in financial instruments.
Investors should take note that this Offering Circular has not been prepared in accordance with the directive 2003/71/EC of the
European Parliament and of the Council of 4 November 2003 on the prospectus to be published when securities are offered to
the public or admitted to trading, as amended by directive 2010/73/EU of the European Parliament and of the Council of
24 November 2010, (the "Prospectus Directive").
In many countries it is unlawful to offer securities for sale without complying with such jurisdiction's applicable laws and
regulations. Accordingly, this Offering Circular may not be used for the purpose of, and does not constitute, an offer to sell or
issue, or a solicitation of an offer to buy or apply for, any Bonds in any jurisdiction in any circumstances in which such offer or
solicitation is not lawful or authorised or where specific action would be required by the EIB. Investors should inform
themselves about such laws and regulations.

The Bonds have not been and will not be registered under the U.S. Securities Act of 1933, as amended (the "Securities Act"),
or with any securities regulatory authority of any state or other jurisdiction in the United States. Accordingly, the Bonds may
not be offered, sold or delivered within the United States (or to any U.S. person) unless pursuant to an exemption from, or in a
transaction not subject to, the registration requirements of the Securities Act. The Bonds are being offered and sold only outside
the United States to persons other than "U.S. persons" in reliance on Regulation S under the Securities Act. As used herein, the
terms "United States" and "U.S. person" have the meanings given to them in Rule 902 of Regulation S under the U.S. Securities
Act. For more details, see "Subscription and Sale".




Arranger

Nordea Bank Abp
The date of this offering circular is 13 February 2019.






CONTENTS
NOTICE TO READERS .................................................................................................................................... 3
SUMMARY DESCRIPTION OF THE BONDS ................................................................................................ 4
RISK FACTORS ................................................................................................................................................ 7
TERMS AND CONDITIONS OF THE BONDS ............................................................................................... 8
SUBSCRIPTION AND SALE ..........................................................................................................................13
THE EUROPEAN INVESTMENT BANK ......................................................................................................15
GENERAL INFORMATION ............................................................................................................................20

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NOTICE TO READERS
This document contains all the information that the EIB has authorised to be published concerning the Bonds.
Any information not contained herein must not be relied upon as having been authorised by the EIB, the
Arranger or any relevant dealer. This document does not constitute an offer of, or an invitation to purchase,
the Bonds.
In connection with the issue of the Bonds, the relevant dealer or dealers (if any) named as the stabilising
manager(s) (or any person acting on behalf of any stabilising manager(s)) in the applicable final terms, may
over-allot the Bonds or effect transactions with a view to supporting the market price of the Bonds at a level
higher than that which might otherwise prevail. There is, however, no assurance that the stabilising
manager(s) (or any person acting on behalf of any stabilising manager(s)) will undertake stabilisation action.
Any stabilisation action may begin on or after the date on which adequate public disclosure of the terms of the
offer of the relevant tranche of the Bonds is made and, if begun, may be ended at any time, but it must end no
later than the earlier of 30 days after the issue date of the relevant tranche of the Bonds and 60 days after the
date of the allotment of the relevant tranche of the Bonds. Any stabilisation action or over-allotment must be
conducted by the relevant stabilising manager(s) (or any person acting on behalf of any stabilising
manager(s)) in accordance with all applicable laws and rules.
Investors should take note that this Offering Circular has not been prepared in accordance with the Prospectus
Directive. Hence this Offering Circular should not be regarded as a prospectus as defined in the Prospectus
Directive. Please note that the EIB is exempt from the Prospectus Directive due to its legal status and that
pursuant to a decision by the Financial Supervisory Authority of Norway as evidenced by a letter dated
20 December 2011, the EIB is exempt from the prospectus requirements in Chapter 7 of the Norwegian
Securities Trading Act (Norwegian: Verdipapirhandelloven).
No action has been or will be taken in any jurisdiction other than Norway that would permit a public offering
of the Bonds, or possession or distribution of this Offering Circular or any other information material, in any
country or jurisdiction where action for that purpose is required. Accordingly each relevant dealer will be
required to undertake that it will not, directly or indirectly, offer or sell any of the Bonds or distribute or
publish this Offering Circular or any other information material in any country or jurisdiction except in
compliance with all applicable laws and regulations.

3




SUMMARY DESCRIPTION OF THE BONDS
The following is a summary only. For full details, refer to the appropriate section elsewhere in this document.
European Investment Bank NOK 2,000,000,000 Floating Rate Bonds 2019/2024 (consisting of Tranche 1
(NOK 1,000,000,000), Tranche 2 (NOK 500,000,000) and Tranche 3 (NOK 500,000,000))
Issuer:
EIB
Arranger:
Nordea Bank Abp
Fiscal Agent and Calculation Agent:
Skandinaviska Enskilda Banken AB (publ), Oslo Branch, Filipstad
Brygge 1, NO-0123 Oslo
Luxembourg Listing Agent:
Banque Internationale à Luxembourg S.A., 69, route d'Esch,
L-2953 Luxembourg
Aggregate Principal Amount:
NOK 2,000,000,000 consisting of:
Tranche 1: NOK 1,000,000,000
Tranche 2: NOK 500,000,000 and
Tranche 3: NOK 500,000,000
Tranche/Issue:
The Bonds are issued in tranches (each a "Tranche") consisting of
Bonds which are identical in all respects. One or more Tranches,
which are expressed to be consolidated and form a single series
and are identical in all respects, but having different issue dates,
interest commencement dates, issue prices and/or dates for first
interest payments, may form a series ("Series") of Bonds. Further
Bonds may be issued as part of an existing Series.
Issue Price:
Tranche 1: 107.5018 per cent.
Tranche 2: 107.5038 per cent.
Tranche 3: 107.5038 per cent.

Issue Date:
15 February 2019
Maturity Date:
15 February 2024
Denomination:
The Bonds are issued in denominations of NOK 10,000.
Security Code(s):
ISIN: NO 0010842677
Common code: 194976356
CFI code: DBVNFR
FISN code: European Invest/VAR BD 20240215
Interest:
Floating rate: 3 month NIBOR + 1.500 per cent. per annum.
Registration and Listing:
The Bonds will be issued in the form of dematerialised bonds
registered in and held with Verdipapirsentralen ASA ("VPS").
VPS is the Norwegian paperless centralised securities registry. It
is a computerised book-entry system in which the ownership of,
and all transactions relating to, registered securities must be
recorded. All transactions relating to securities registered with
VPS are made through computerised book entries. VPS confirms
each entry by sending a transcript to the registered holder

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irrespective of any beneficial ownership. To effect such entries,
the individual holder of securities must establish a securities
account with an account agent. It is possible to register a holding
of securities through a nominee approved by the Financial
Supervisory Authority of Norway. Norwegian banks, the Bank of
Norway, authorised securities brokers in Norway and credit
institutions and authorised securities brokers with their head office
in another EEA state and which are subject to supervision in their
home state are allowed to act as account agents. The entry of a
transaction in VPS is prima facie evidence in determining the
legal rights of parties as against the issuing entity or a third party
claiming an interest in the given security. Application has been
made to the Luxembourg Stock Exchange for the Bonds to be
admitted to the Official List and to be admitted to trading on the
Luxembourg Stock Exchange's regulated market.
Payment and Settlement:
Settlement of purchase and sale transactions takes place on a
registration against payment basis. The Bonds will be created and
held in uncertificated book-entry form in accounts with VPS and
title to the Bonds will be evidenced by book-entry interests in
accordance with the provisions of applicable legislation and
regulations for the VPS as subsequently amended and
supplemented and no physical document of title will be issued in
respect of the Bonds. The first issue of the Bonds will be settled
for value on 15 February 2019.
Payment of interest and principal to the holder of the Bonds will
be made through the Fiscal Agent by credit to the money accounts
designated to VPS by each holder's account agent or in
Luxembourg through the ICSDs (as defined below).
The Bonds will also be eligible to be held in nominee accounts
held through international central securities depositories
("ICSDs"). ICSDs mean Euroclear Bank SA/NV and Clearstream
Banking S.A., Luxembourg.
Redemption and Purchase of the
Unless previously purchased and cancelled, the Bonds shall be
Bonds by the EIB:
redeemed at their outstanding Aggregate Principal Amount on the
Maturity Date.
The EIB may at any time purchase the Bonds in the open market
or otherwise at any price. Any of the Bonds so purchased may be
held, sold or cancelled at the EIB's discretion.
Status of the Bonds:
Senior unsecured and unsubordinated. See "Terms and Conditions
of the Bonds - Status".
Negative Pledge:
None.
Cross-default:
The Bonds will be issued with the benefit of the EIB's standard
cross-default clause. See "Terms and Conditions of the Bonds -
Events of Default".
Governing Law:
Norwegian law.

5




Selling Restrictions:
There are restrictions on the sale of the Bonds and the distribution
of offering material in various jurisdictions. See "Subscription
and Sale".

6




RISK FACTORS
This section does not describe all the risks of an investment in the Bonds. Prospective purchasers should
consult their own professional advisers about the risks associated with investment in the Bonds and the
suitability of investing in the Bonds in the light of their particular circumstances.
General risk factors
Secondary market prices of bonds are affected by many factors, including prevailing interest rates and
expectations thereof. Bonds - especially long-dated bonds - may therefore trade periodically at prices below
their issue prices, implying a loss for the bondholders who dispose of bonds prior to their stated maturity. In
addition, the bondholders may find it difficult to sell bonds prior to their stated maturity at a price that reflects
the bondholder's opinion of the "fair value" of the bonds. They may find that no dealer, or only the dealer
from whom they originally bought the bonds, is prepared to quote a price to buy the bonds in the secondary
market. This is likely to be the case to a greater extent for bonds with a relatively small aggregate outstanding
amount.
Historical values should not be taken as an indication of future values.
The investors also have a credit risk on the EIB. As of the Issue Date, the EIB has a long term rating
Aaa/AAA/AAA for Moody's Investors Service, Standard & Poor's Rating Services and Fitch Ratings
respectively.
Investors should take note that the risks associated with the investment can change substantially throughout
the term of the Bonds.
Potential impact of benchmark discontinuation on the Bonds
Reference rates and indices, including interest rate benchmarks, such as the Norwegian Interbank Offered
Rate ("NIBOR"), which are used to determine the amounts payable under financial instruments or the value
of such financial instruments ("Benchmarks"), are, and are anticipated to be, the subject of regulatory reform
and changes which may cause a Benchmark to perform differently than it has done in the past or to be
discontinued. Any change in the performance of a Benchmark or its discontinuation, could have a material
adverse effect on the value of, and return on, any Bonds referencing or linked to such Benchmark, including
the Bonds.
Furthermore, even prior to the implementation of any changes, uncertainty as to the nature of alternative
reference rates and as to potential changes to such Benchmark may adversely affect such Benchmark during
the term of the Bonds, the return on the Bonds and the trading market for securities based on the same
Benchmark.
The "Terms and Conditions of the Bonds" provide for certain fallback arrangements in relation to interest
calculations for Floating Rate Bonds in the event that a published Benchmark, including an inter-bank offered
rate such as NIBOR, (including any page on which such Benchmark may be published (or any successor
service)) becomes unavailable. In relation to the Bonds, the ultimate fallback for the purposes of calculation
of interest for a particular Interest Period is based on a determination of the interest rate to be made by the
Calculation Agent in its absolute discretion. There can be no assurance that the exercise of this discretion by
the Calculation Agent as to the interest rate to be used for any such Interest Period will not have an adverse
effect on the value of, and return on, the Bonds.
Investors should consider these matters when making their investment decision with respect to the Bonds.

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TERMS AND CONDITIONS OF THE BONDS
The following are the terms and conditions (the "Conditions") that shall be applicable to the Bonds issued
under the VPS fiscal agency and registrar agreement, dated 4 May 2012 (the "Agency Agreement") between
the EIB and Skandinaviska Enskilda Banken AB (publ), Oslo Branch (the "Fiscal Agent" and the
"Calculation Agent").
Issue Numbers:
Tranche 1: 2376/0100
Tranche 2: 2376/0200
Tranche 3: 2376/0300
Security Code(s):
ISIN: NO 0010842677
Common code: 194976356
CFI code: DBVNFR
FISN code: European Invest/VAR BD 20240215

Principal Amount:
NOK 2,000,000,000 consisting of:
Tranche 1: NOK 1,000,000,000
Tranche 2: NOK 500,000,000
Tranche 3: NOK 500,000,000
The Bonds are open for further issues without a fixed maximum amount
and without the consent of the holders of the Bonds. 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,
inter alia, in respect of the principal amount, issue date, interest
commencement date, first interest payment date, accrued interest (if any)
and issue price.
Issue Date:
15 February 2019
Maturity Date:
15 February 2024, subject to adjustment in accordance with the Business
Day Convention and Business Day Centre(s) specified below.
Amount due at the Maturity Date:
Principal Amount at par.
Issue Price:
Tranche 1: 107.5018 per cent. of its Principal Amount.
Tranche 2: 107.5038 per cent. of its Principal Amount.
Tranche 3: 107.5038 per cent. of its Principal Amount.
Form and Registration:
VPS registered dematerialised form.
Settlement of the Bonds will be effected against payment and registration
with VPS. The Bonds will be registered with VPS in denominations of
NOK 10,000.
Interest:
Floating rate.
(i)
Interest Rate(s):
3 month NIBOR + 1.500 per cent. per annum.

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(ii)
Reference Rate:
Norwegian interbank offered rate, as determined pursuant to (viii) below.
(iii)
Interest Commencement
15 February 2019.
Date:
(iv)
Interest Period End
Interest Payment Dates. When counting the number of days in any
Date(s):
period, the first day of that period shall be included, but not the last.
(v)
Interest Payment Date(s): 15 February, 15 May, 15 August and 15 November in each year,
commencing on 15 May 2019, up to and including the Maturity Date,
subject in each case to adjustment in accordance with the Business Day
Convention specified below.
"Business Day" means any day (other than a Saturday or a Sunday) on
which the Trans-European Automated Real-time Gross Settlement
Express Transfer System ("TARGET") is open and commercial banks
and foreign exchange markets are open for general business and to settle
payments in Oslo.
(vi)
Business Day Centre(s):
Oslo and TARGET.
(vii)
Business Day
Modified Following: If a payment is due on a date which would
Convention:
otherwise fall on a day that is not a Business Day, then that date shall be
postponed to the first 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 first preceding day that is a Business Day.
(viii)
Manner in which the
The Reference Rate for a Reset Date shall be the rate for deposits in the
Reference Rate(s) is/are
Relevant Currency for a period of the Designated Maturity which
to be determined:
appears on that Screen Page as of the Interest Determination Time,
provided that if such rate does not appear on the relevant Screen Page,
the Reference Rate for that Reset Date shall be determined based on
quotations from the Reference Banks.

In case of quotations from Reference Banks, the Reference 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 Reference 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 Oslo 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

9




leading European banks, the Reference Rate shall be determined by the
Calculation Agent in its absolute discretion.
(ix)
Screen Page:
Oslo Børs' webpage or any successor page.
(x)
Reference Banks:
Four major banks selected by the EIB which are active in the Reference
Market.
(xi)
Reset Date(s):
The first day of each interest period. The Interest Rate for each interest
period shall apply with effect from the Reset Date for that interest period.
(xii)
Relevant Currency:
NOK.
(xiii)
Designated Maturity:
3 months.
(xiv)
Representative Amount:
An amount that is representative for a single transaction in the Reference
Market at the Interest Determination Time.
(xv)
Interest Determination
At or around noon Oslo time on each Interest Determination Date.
Time:
(xvi)
Interest Determination
The second Business Day prior to the start of each interest period.
Date:
(xvii)
Reference Market:
The Oslo Interbank market.
(xviii) Margin:
1.500 per cent. per annum.
(xix)
Minimum Interest Rate:
0 per cent. per annum. If the aggregate sum of the Reference Rate and
the Margin is less than zero, the Interest Rate shall be deemed to be zero.
Accrued Interest:
The Bonds are registered with VPS and are only traded together with
Accrued Interest thereon.
Interest Accrual Basis:
Actual/360: Interest will be calculated based on the actual number of
days in the period divided by 360.
Status:
The Bonds will be unconditional, direct and general obligations of the
EIB in accordance with the terms for their payment and performance.
The Bonds will rank pari passu with any present or future indebtedness
of the EIB represented by any unsubordinated and unsecured notes or
bonds.
Denomination:
The Bonds will be registered with VPS in nominal amounts of
NOK 10,000.
Commission:
None.
Purchase and Early Redemption:
The Issuer may at any time purchase or otherwise acquire the Bonds in
the open market. The Bonds cannot be, or be required to be, redeemed
prior to their maturity by either the holders of the Bonds or the Issuer.
The Issuer may choose to cancel, keep or resell the Bonds bought back.



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Document Outline