Obligation European Investment Bank 5.5% ( XS0110373569 ) en GBP

European Investment Bank

100 % ⇌

Luxembourg

XS0110373569 ( en GBP )

5.5% par an ( paiement annuel )

15/04/2025 - Obligation échue

Prospectus brochure de l'obligation European Investment Bank XS0110373569 en GBP 5.5%, échue

L'Obligation émise par European Investment Bank ( Luxembourg ) , en GBP, avec le code ISIN XS0110373569, paye un coupon de 5.5% par an.
Le paiement des coupons est annuel et la maturité de l'Obligation est le 15/04/2025

OFFERING CIRCULAR

£100,000,000

5.50 per cent. Euro-Fungible Notes due 2025

(to be consolidated and form a single series
with the existing £1,400,000,000 5.50 per cent.
Euro-Fungible Notes due 2025 issued in twelve tranches
on 18th April, 2000, 3rd May, 2000, 5th January, 2001, 24th September, 2002,
25th October, 2002, 25th March, 2004, 14th July, 2004,
23rd July, 2004, 2nd September, 2004, 13th January, 2006,
3rd February, 2006 and 24th January, 2008)

Issue Price: 108.502 per cent.
(plus 305 days' accrued interest)

Interest on the £100,000,000 5.50 per cent. Euro-Fungible Notes due 2025 (the "Notes'') will be payable annually in
arrear on 15th April in each year. For the avoidance of doubt, the Notes now being issued, notwithstanding that they
will be represented by a permanent Global Note, will have the coupons relating to payments of interest up to and
including 15th April, 2007 cancelled on issue.
Application has been made for the Notes to be admitted to the official list of the Luxembourg Stock Exchange and
traded on the Bourse de Luxembourg, which is the regulated market of the Luxembourg Stock Exchange.
The Notes will, unless previously redeemed or purchased and cancelled, be redeemed at their principal amount on
15th April, 2025.
The Notes will from 14th February, 2008 (the "Closing Date'') be represented by a permanent Global Note (the
"Global Note'') which is expected to be deposited with a common depositary for Euroclear Bank S.A./N.V.
("Euroclear'') and Clearstream Banking, société anonyme ("Clearstream, Luxembourg''), on the Closing Date.
Definitive Notes will not be issued in exchange for the Global Note.
On the Closing Date the Notes will be consolidated with the existing £1,400,000,000 5.50 per cent. Euro-Fungible
Notes due 2025 of European Investment Bank issued in twelve tranches on 18th April, 2000, 3rd May, 2000, 5th
January, 2001, 24th September, 2002, 25th October, 2002, 25th March, 2004, 14th July, 2004, 23rd July, 2004, 2nd
September, 2004, 13th January, 2006, 3rd February, 2006 and 24th January, 2008 (the "Existing Notes") so as to
form a single issue therewith and to increase the issue size of the 5.50 per cent. Euro-Fungible Notes due 2025 to
£1,500,000,000.
UBS INVESTMENT BANK
12th February, 2008

European Investment Bank ("EIB''), having made all reasonable enquiries, confirms that this Offering
Circular contains all information with regard to EIB and the Notes which is material in the context of the
Notes, that such information is true and accurate in all material respects and is not misleading, that the
opinions and intentions expressed herein are honestly held and that there are no other facts the omission
of which makes this Offering Circular as a whole or any of such information or the expression of any
such opinions or intentions misleading. EIB accepts responsibility accordingly.
No person has been authorised to give any information or to make any representations, unless contained
in this document, in connection with the issue, purchase or sale of the Notes and any information or
representations not contained herein must not be relied upon as having been authorised by EIB.
Neither the delivery of this document nor any purchase, offering or sale made in connection herewith
shall, under any circumstances, constitute a representation or create any implication that there has been no
change since the date of this document in the affairs of EIB or that other information contained herein has
remained accurate and complete.
The distribution of this Offering Circular and the offering or sale of the Notes in certain jurisdictions may
be restricted by law. Persons into whose possession this Offering Circular comes are required by EIB and
the Manager to inform themselves about and to observe any such restrictions. For a description of certain
restrictions on offers and sales of Notes and on distribution of this Offering Circular see "Subscription
and Sale'' below.
References herein to "Pounds Sterling'' or "£'' are to the currency of the United Kingdom. References
herein to "euro'' or "EUR" are to the lawful currency of the member states of the European Union that
adopt the single currency in accordance with the Treaty establishing the European Community, as
amended.
In connection with the issue of the Notes, UBS Limited (or persons acting on behalf of UBS Limited) may
over-allot the Notes or effect transactions with a view to supporting the market price of the Notes and/or
the Existing Notes at a level higher than that which might otherwise prevail. However, there is no
assurance that UBS Limited (or persons acting on behalf of UBS Limited) 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 Notes 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 Notes and 60 days after the date of allotment of the
Notes. Any stabilisation action or over-allotment must be conducted by UBS Limited (or persons acting
on behalf of UBS Limited) in accordance with all applicable laws and rules.
TABLE OF CONTENTS

Page
Terms and Conditions of the Notes
3
Use of Proceeds
8
Book-Entry System
8
Subscription and Sale
9
General Information
10

2

TERMS AND CONDITIONS OF THE NOTES
There follows the text of the Terms and Conditions to which (subject to completion and amendment) the
Notes will be subject:
The 5.50 per cent. Euro-Fungible Notes due 15th April, 2025 (the "Notes'') of European Investment
Bank ("EIB'') are issued in an aggregate principal amount of £1,500,000,000 of which £250,000,000
were issued on 18th April, 2000, £100,000,000 were issued on 3rd May, 2000, £75,000,000 were issued
on 5th January, 2001, £100,000,000 were issued on 24th September, 2002, £100,000,000 were issued on
25th October, 2002, £75,000,000 were issued on 25th March, 2004, £100,000,000 were issued on 14th
July, 2004, £100,000,000 were issued on 23rd July, 2004, £150,000,000 were issued on 2nd September,
2004, £150,000,000 were issued on 13th January, 2006, £100,000,000 were issued on 3rd February, 2006,
£100,000,000 were issued on 24th January, 2008 (together, the "Existing Notes") and £100,000,000 were
issued on 14th February, 2008 (the "Further Notes"). The Existing Notes and the Further Notes are
together referred to as the "Notes". In connection with the Notes, EIB has entered into a Fiscal and
Paying Agency Agreement dated 18th April, 2000 as supplemented by a First Supplemental Fiscal and
Paying Agency Agreement dated 3rd May, 2000, a Second Supplemental Fiscal and Paying Agency
Agreement dated 5th January, 2001, a Third Supplemental Fiscal and Paying Agency Agreement dated
24th September, 2002, a Fourth Supplemental Fiscal and Paying Agency Agreement dated 25th October,
2002, a Fifth Supplemental Fiscal and Paying Agency Agreement dated 25th March, 2004, a Sixth
Supplemental Fiscal and Paying Agency Agreement dated 14th July, 2004, a Seventh Supplemental
Fiscal and Paying Agency Agreement dated 23rd July, 2004, an Eighth Supplemental Fiscal and Paying
Agency Agreement dated 2nd September, 2004, a Ninth Supplemental Fiscal and Paying Agency
Agreement dated 13th January, 2006, a Tenth Supplemental Fiscal and Paying Agency Agreement dated
3rd February, 2006, an Eleventh Supplemental Fiscal and Paying Agency Agreement dated 24th January,
2008 and a Twelfth Supplemental Fiscal and Paying Agency Agreement dated 14th February, 2008
(together, the "Fiscal Agency Agreement'') each made between EIB, The Bank of New York as fiscal
agent and principal paying agent and the paying agent named in it. The fiscal agent and principal paying
agent and the paying agent for the time being are referred to below respectively as the "Fiscal Agent'' and
the "Paying Agents'' (which expression shall include the Fiscal Agent). Certain statements in these Terms
and Conditions are summaries of, and are subject to, the detailed provisions of the Fiscal Agency
Agreement. Copies of the Fiscal Agency Agreement are available for inspection at the specified offices of
the Paying Agents. The holders of the Notes are entitled to the benefit of, are bound by, and are deemed
to have notice of, all the provisions of the Fiscal Agency Agreement.
1.
Form and Denomination
The Notes are issued in bearer form in the denomination of £1,000.
2. Redenomination
EIB may, without the consent of the holders of the Notes, on giving at least 30 days' prior notice to the
holders of the Notes, elect that, with effect from any date for payment of interest under the Notes as may
be specified in that notice (the "Redenomination Date'') falling on or after the date on which the United
Kingdom becomes one of the countries participating in the third stage of economic and monetary union
pursuant to the Treaty establishing the European Community, each Note shall be deemed to be
denominated in such amount of euro as is equivalent to its denomination in Pounds Sterling, converted
into euro at the rate for the conversion of Pounds Sterling (including compliance with rules relating to
roundings in accordance with applicable European Community regulations) into euro established by the
Council of the European Union as determined at such time. Such amount shall be rounded down to the
nearest integral multiple of one euro. Any fraction of one euro arising therefrom shall be paid to each
holder of a Note on the Redenomination Date in addition to the payment of interest otherwise payable on
such Note. On and after the Redenomination Date all payments in respect of the Notes will be made
solely in euro, including payments of interest in respect of periods before the Redenomination Date.

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References to "euro'' are to the currency introduced at the start of the third stage of the economic and
monetary union pursuant to the Treaty establishing the European Community.
In addition, EIB may, without the consent of the holders of the Notes, on giving not less than 30 days'
prior notice to the holders of the Notes, elect that with effect from the Redenomination Date or such later
date for payment of interest under the Notes as it may specify in that notice (the "Specified Date''), the
denominations of the Notes shall be euro 2 and euro 1,000. In such event, the then existing euro-
denominated Notes (the "Original Notes'') shall be exchangeable at the specified office of the Fiscal
Agent, and at the specified offices of the Paying Agents, for Notes of such new denominations ("New
Notes'') having the same aggregate principal amount as the Original Notes so exchanged.
Any such redenomination and exchange of Notes shall be subject in all cases to compliance with all
applicable requirements of relevant monetary, stock exchange or other authorities, applicable European
Community and national laws and regulations and such market practices consistent therewith as the Fiscal
Agent, in its discretion, shall determine to be applicable for the redenomination and exchange of
Eurobonds held in international clearing systems and these terms and conditions shall be deemed to be
amended accordingly.
Upon any change to these terms and conditions pursuant to a redenomination or exchange, notice thereof
will be given to holders of Notes in accordance with Condition 9.
On the Specified Date the Notes shall become New Notes without the need for the Global Note to be
presented for exchange.
Determinations made by the Fiscal Agent will, in the absence of manifest error, be conclusive and
binding on EIB and the holders of Notes.
3. Interest
The Notes bear interest from 18th April, 2000 at the rate of 5.50 per cent. per annum payable annually in
arrear on 15th April in each year (each an "Interest Payment Date''), except that the first interest payment
on 15th April, 2001 shall be in respect of the period from and including 18th April, 2000 to but excluding
15th April, 2001 and will amount to £54.55 for each £1,000 denomination Note. For the avoidance of
doubt, the coupons relating to payments of interest up to and including 15th April, 2007 will be cancelled
on issue of the Further Notes. The Notes will cease to bear interest from the due date for redemption
unless, upon due presentation, payment of principal is improperly withheld or refused.
4. Redemption
and
Purchase
Unless previously redeemed or purchased and cancelled as described herein, EIB will redeem the Notes at
par on 15th April, 2025.
EIB shall have the right at any time to purchase Notes in the open market or otherwise. Any Notes so
purchased may be resold at EIB's discretion if not surrendered to the Fiscal Agent for cancellation.
5. Payments
5.1 Payments in respect of principal and interest will be made against presentation for endorsement and,
if no further payment falls to be made in respect of the Notes, surrender of the Global Note at the
specified office of any Paying Agent for the time being. The specified offices of the initial Paying
Agents appear at the end of these Terms and Conditions. Payments will be subject in all cases to any
fiscal or other laws and regulations applicable thereto. Consequently, neither EIB nor any Paying
Agent will make any additional payments in the event of a withholding being required in respect of
any payment under or in connection with the Notes.

4

Payments made before the Redenomination Date will be made in Pounds Sterling by cheque drawn
on, or by credit or transfer to a Pounds Sterling account specified by the payee with, a bank in the
United Kingdom. Payments made on or after the Redenomination Date will be made in euro by
credit or transfer to a euro account specified by the payee.
5.2 In the case of payments before the Redenomination Date, if any day for payment of principal or
interest in respect of any Note is not a day on which banks are open for business and carrying out
transactions in Pounds Sterling in the place where it is presented for payment, credit or transfer
instructions in respect of such payments shall not be given and cheques will not be drawn until the
next day in such place on which they are so open and the holder shall not be entitled to any interest
or other sums in respect of such postponed payment. Neither EIB nor any Paying Agent shall be
liable to any holder of a Note or other person for any commissions, costs, losses or expenses in
relation to or resulting from such credit or transfer or any currency conversion or rounding effected
in connection therewith.
5.3 In the case of payments after the Redenomination Date, payment of principal or interest on the
Notes may only be made on a day that is a Euro Business Day (as defined below). If any day for
payment of principal or interest in respect of any Note is not a Euro Business Day such payment
shall be made on the first following day that is a Euro Business Day and the holders of such Notes
shall not be entitled to any interest or other sums in respect of such postponed payment. Neither EIB
nor any Paying Agent shall be liable to any holder of a Note or other person for any commissions,
costs, losses or expenses in relation to or resulting from such payments.

"Euro Business Day'' means a day on which the Trans-European Automated Real-time Gross
settlement Express Transfer system ("TARGET'') is operating.
5.4 Where interest is to be calculated in respect of a period of less than one year, it will be calculated on
the basis of the actual number of days elapsed divided by the actual number of days in the period
from, and including the immediately preceding Interest Payment Date (or, if none, the immediately
preceding anniversary of the first Interest Payment Date) to, but excluding the next scheduled
Interest Payment Date.
5.5 If EIB determines, with the agreement of the Fiscal Agent (which shall not be unreasonably
withheld), that the market practice in respect of pounds sterling or euro denominated internationally
offered securities, as the case may be, is different from that specified in Conditions 5.2, 5.3 or 5.4
such Conditions shall be deemed to be amended so as to comply with such market practice and EIB
shall promptly notify the holders of the Notes, the stock exchange(s) (if any) on which the Notes
may be listed and the Paying Agents of such amendments.
5.6 EIB reserves the right at any time to vary or terminate the appointment of the Fiscal Agent or any
other Paying Agent and to appoint another fiscal agent or additional or other paying agents provided
that it will at all times while any Note is outstanding maintain (i) a fiscal agent and (ii) so long as
the Notes are listed on any stock exchange and if the rules of that stock exchange so require, a
paying agent having a specified office in the city of that stock exchange. Notice of any such
termination or appointment and of any changes in the specified office of any Paying Agent will be
given to the Noteholders in accordance with Condition 9.

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6.
Status of the Notes and Negative Pledge
The Notes will be unconditional, direct and general obligations of EIB in accordance with their terms for
their payment and performance. The Notes 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 Notes. If EIB
shall in the future secure any such present or future indebtedness by any mortgage, pledge or other
security interest on any of its 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 Notes
will be secured by such mortgage, pledge or other security interest equally and rateably with such
indebtedness, and the instrument creating such mortgage, pledge or other security interest will expressly
so provide.
7. Default
The holder of any Note may, by written notice to EIB delivered before all defaults shall have been
remedied, cause such Note to become due and payable, together with accrued interest thereon to the date
of payment, as of the date on which the said notice of acceleration is received by EIB in the event that:
7.1 EIB shall default in any payment of interest in respect of any of the Notes and such default shall not
have been remedied by payment thereof within 30 days; or
7.2 EIB shall default in the due performance of any of its other obligations in respect of the Notes and
such default shall continue for a period of 30 days after written notice thereof shall have been given
by the holder of any Note to EIB at its office at 100 boulevard Konrad Adenauer, L-2950
Luxembourg or at such other address as shall be notified to the holders of the Notes in accordance
with Condition 9; or
7.3 any other indebtedness of EIB for borrowed money shall become due and payable prior to the stated
maturity thereof as a result of a default thereunder or any such indebtedness shall not be paid at the
maturity thereof as extended by any applicable grace period therefor or any guarantee given by EIB
for borrowed money shall not be honoured within 30 days when due and called upon in accordance
with its terms.
8. Prescription
Interest will cease to be payable after five years from the relevant Interest Payment Date and principal
after ten years from the due date for payment thereof.
9. Notices
Any notice to holders of Notes shall be validly given if published in the d'Wort (Luxembourg) and the
Financial Times (United Kingdom) and such other newspapers or publications as may be required by the
rules of the stock exchange(s) on which the Notes may from time to time be listed or, if any such
newspaper or publication shall cease to be published or timely publication therein shall not be practicable,
in such other newspapers as the Fiscal Agent shall deem necessary to give fair and reasonable notice to
holders of Notes. Any such notice shall be deemed to have been given on the date of the last publication
provided above.
10. Further Issues and Consolidation
EIB may from time to time, without the consent of the holders of the Notes, create and issue further notes
so as to be consolidated and form a single issue with the Notes.

6

EIB may also from time to time, without the consent of the holders of the Notes, consolidate the Notes
with one or more issues of other notes issued by it, whether or not originally issued in Pounds Sterling or
euro, provided that such other notes have been redenominated in euro (if not originally denominated in
euro) and otherwise have, in respect of all periods subsequent to such consolidation, the same terms and
conditions as the Notes.
The relevant Fiscal Agency Agreement(s) will be amended accordingly.
11. Governing Law and Jurisdiction
The Notes are governed by, and shall be construed in accordance with, the laws of the Grand Duchy of
Luxembourg. Claims against EIB thereunder may be brought before any competent court in Luxembourg,
Grand Duchy of Luxembourg or any other country where EIB shall hereafter have its legal seat.

7

USE OF PROCEEDS
The net proceeds of the sale of the Notes, which will amount to approximately £112,910,333.33
(inclusive of accrued interest), will be used in the general operations of EIB.
BOOK-ENTRY SYSTEM
The Notes will be represented by a Global Note. The Global Note will be held by a clearing system or its
depositary until all obligations of EIB under the Notes are satisfied. Initially the Global Note will be
deposited with a common depositary (the "Common Depositary'') for Euroclear and Clearstream,
Luxembourg. Beneficial interests in the Global Note will be represented through accounts of financial
institutions acting on behalf of beneficial owners as direct and indirect participants in the relevant clearing
system(s).
The holder of the Global Note will be considered by EIB the sole owner and holder of the Notes
represented by such Global Note for all purposes of the Notes.
On consolidation of the Notes as allowed by Condition 10, EIB may issue a replacement Global Note in
exchange for the global notes of the issues consolidated. The relevant clearing systems may, in such
circumstances, require a change of the common depositary.

8

SUBSCRIPTION AND SALE
UBS Limited (the "Manager") has, pursuant to a Subscription Agreement dated 12th February, 2008,
agreed with EIB, subject to the satisfaction of certain conditions, to subscribe for the Notes at an issue
price of 108.502 per cent. of the principal amount of the Notes less a combined management,
underwriting and selling commission of 0.175 per cent. of such principal amount plus 305 days' accrued
interest. The Subscription Agreement entitles the Manager to terminate the Subscription Agreement in
certain circumstances prior to payment to EIB.
No action is being taken by EIB or the Manager to permit a public offering of the Notes, or the
distribution of any document, in or from any jurisdiction where action would be required for such
purposes. Accordingly, the Notes may not be directly or indirectly offered or sold or any offering circular,
prospectus, form of application, advertisement or other offering material distributed or published in any
country or jurisdiction or to persons subject to any specific jurisdiction except in compliance with any
applicable laws or regulations. In particular, no representation is made that the Notes may lawfully be
sold in compliance with any applicable registration requirements and neither EIB nor the Manager
assume any responsibility for facilitating such sales.

9

GENERAL INFORMATION
1.
The issue of the Notes was duly authorised by EIB pursuant to an authorisation of its Board of
Directors on 20th November, 2007 and in compliance with procedures laid down by its
Management Committee.
2. The Notes have been accepted for clearance through Euroclear and Clearstream, Luxembourg
(Common Code 011037356). The ISIN of the Notes is XS0110373569.

No action has been taken by EIB to permit clearance through other clearing systems in European
Community member states, either before or after a redenomination of the Notes. Such clearance
would be dependent on the clearing system having appropriate links with Clearstream, Luxembourg
and Euroclear and, in any event, would be effected in accordance with all applicable requirements
of relevant monetary, stock exchange or other authorities and applicable European Community and
national laws and regulations.
3. Application has been made for the Notes to be admitted to the official list of the Luxembourg Stock
Exchange and traded on the Bourse de Luxembourg, which is the regulated market of the
Luxembourg Stock Exchange. Application may also be made to list the Notes on one or more other
Stock Exchanges in the European Community after the Specified Date (as defined above in the
Terms and Conditions of the Notes).
4.
ElB's 2006 Financial Report and ElB's statute are incorporated herein by reference. Copies of ElB's
Statute and of the Fiscal and Paying Agency Agreement will be available for inspection by holders
of the Notes at the specified offices of the Fiscal Agent in London and Paying Agent in
Luxembourg during the life of the Notes. In addition, copies of the annual reports of EIB may be
obtained by holders of the Notes at the said offices during such period.
5. On 13th December, 2007 the member states of the European Union signed the "Treaty amending the
Treaty on European Union and the Treaty Establishing the European Community" in Lisbon (the
"Reform Treaty"). Protocol no. 11 annexed to the Reform Treaty amends the Statute of the
European Investment Bank and will become effective when the Reform Treaty enters into force in
accordance with Article 6 (Final Provisions) of the Reform Treaty.

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