Obligation Euro Investment Bank 1.3% ( AU3CB0277291 ) en AUD

Société émettrice Euro Investment Bank
Prix sur le marché refresh price now   86 %  ▲ 
Pays  Luxembourg
Code ISIN  AU3CB0277291 ( en AUD )
Coupon 1.3% par an ( paiement annuel )
Echéance 27/01/2031



Prospectus brochure de l'obligation European Investment Bank (EIB) AU3CB0277291 en AUD 1.3%, échéance 27/01/2031


Montant Minimal 1 000 AUD
Montant de l'émission 500 000 000 AUD
Prochain Coupon 27/01/2026 ( Dans 84 jours )
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 Euro Investment Bank ( Luxembourg ) , en AUD, avec le code ISIN AU3CB0277291, paye un coupon de 1.3% par an.
Le paiement des coupons est annuel et la maturité de l'Obligation est le 27/01/2031







CONFORMED COPY
Issue No.:
2495/0300

European Investment Bank

Australian Dollar
Medium Term Note Programme

Issue of

A$100,000,000 1.300% Notes due 27 January 2031 ("Notes")
(to be consolidated and form a single Series with the Issuer's existing A$300,000,000 1.300% Notes
due 27 January 2031, issued on 27 January 2021 and A$100,000,000 1.300% Notes due
27 January 2031, issued on 16 February 2021)

PLEASE NOTE THAT SALE OF THE NOTES SET OUT BELOW MAY BE SUBJECT TO
SELLING RESTRICTIONS - PLEASE REFER TO THE INFORMATION MEMORANDUM IN
RELATION TO THE ABOVE PROGRAMME AND TO ANY SPECIFIC SELLING
RESTRICTIONS IN THIS PRICING SUPPLEMENT.

The Issuer does not fall under the scope of application of the MiFID II package. Consequently, the Issuer
does not qualify as an "investment firm", "manufacturer" or "distributor" for the purposes of MiFID II.

Solely for the purposes of the manufacturer's product approval process, the target market assessment in
respect of the Notes has led to the conclusion that: (i) the target market for the Notes is eligible
counterparties and professional clients only, each as defined in MiFID II; and (ii) all channels for
distribution of the Notes to eligible counterparties and professional clients are appropriate, subject to the
distributor's suitability and appropriateness obligations under MiFID II, as applicable. Any person
subsequently offering, selling or recommending the Notes (a "distributor") should take into consideration
the manufacturer's target market assessment; however, a distributor subject to MiFID II is responsible for
undertaking its own target market assessment in respect of the Notes (by either adopting or refining the
manufacturer's target market assessment) and determining appropriate distribution channels, subject to the
distributor's suitability and appropriateness obligations under MiFID II, as applicable.

For the purposes of the above, the expression "manufacturer" means TD Global Finance unlimited
company and the expression "MiFID II" means Directive 2014/65/EU, as amended.

NOTIFICATION UNDER SECTION 309B OF THE SECURITIES AND FUTURES ACT,
CHAPTER 289 of SINGAPORE ­ The Notes are "prescribed capital markets products" (as defined in the
Securities and Futures (Capital Markets Products) Regulations 2018) and Excluded Investment Products
(as defined in MAS Notice SFA 04-N12: Notice on the Sale of Investment Products and MAS Notice FAA-
N16: Notice on Recommendations on Investment Products).

This Pricing Supplement (as referred to in the Information Memorandum dated 30 July 2014 ("Information
Memorandum") in relation to the above Programme) relates to the Tranche of Notes referred to above.
The Terms and Conditions of the Notes are as set out on pages 15 to 31 of the Information Memorandum.
The Notes are constituted by the Second MTN Deed Poll dated 30 July 2014. Capitalised terms not defined
in this Pricing Supplement shall have the meanings given in the Information Memorandum.


Page 1


The particulars to be specified in relation to such Tranche are as follows:

1
Issuer:
European Investment Bank
2
Lead Manager:
TD Global Finance unlimited company
3
Type of Issue:
Non-Private Placement
4
Dealer:
TD Global Finance unlimited company
5
Aggregate Principal Amount of issue of Notes:
A$100,000,000
6
If to be consolidated with existing Series:
The Notes are to be consolidated and form a
single Series with the Issuer's existing
A$300,000,000 1.300% Notes due
27 January 2031, issued on 27 January 2021 and
A$100,000,000 1.300% Notes due
27 January 2031, issued on 16 February 2021.
7
Issue Date:
25 February 2021
8
Issue Price:
97.777%
9
Accrued Interest (if any):
0.104%
10
Settlement Price:
97.610% (net of fees)
11
Denomination(s):
Denominations of A$1,000
The minimum consideration payable when
issued in Australia will be A$500,000
In addition, the issue and the transfer of Notes
in Australia must comply with Banking
exemption No. 1 of 2018 dated 21 March 2018
promulgated by the Australian Prudential
Regulation Authority as if it applied to the
Issuer mutatis mutandis (and which requires all
offers of any parcels of Notes to be for an
aggregate principal amount of at least
A$500,000)
12
Tenor:
25 February 2021 to 27 January 2031
13
Interest:

(a)
If Interest bearing:

(i)
Interest Rate:
1.300% per annum paid semi-annually

(ii)
Interest Payment Dates:
27 January and 27 July each year from and
including 27 July 2021, up to and including, the
Maturity Date

Page 2



(iii)
Interest Period End Dates:
27 January and 27 July

(iv)
Applicable Business Day
Following Business Day Convention
Convention:

-
for Interest Payment
Following Business Day Convention
Dates:

-
for Interest Period
None
End Dates:

-
any other date:
Following Business Day Convention

(v)
Interest Commencement Date
27 January 2021
(if different from the Issue
Date):

(vi)
Minimum Interest Rate:
Not applicable

(vii)
Maximum Interest Rate:
Not applicable

(viii)
Interest amount (Condition
A$6.50 per Note paid semi-annually and in
5.4):
arrear in accordance with items 13(a)(i) and (ii)
of this Pricing Supplement

(ix)
Rounding (Condition 5.4):
Applicable

(b)
If non-interest bearing:

(i)
Amortisation Yield:
Not applicable

(ii)
Rate of interest on overdue
Not applicable
amount:

(c)
Day Count Fraction:
RBA Bond Basis

(d)
Calculations (Condition 5.5):
Not applicable
14
Business Days:
Sydney
15
Maturity Date:
27 January 2031
16
Maturity Redemption Amount:
Outstanding Principal Amount
17
Early Termination Amount:
Outstanding Principal Amount
18
Listing:
Regulated market of the Luxembourg Stock
Exchange
19
Clearance and Settlement:
Austraclear and, if applicable, through
Euroclear/Clearstream, Luxembourg
20
Other Relevant Terms and Conditions:
Not applicable
21
Additional Selling Restrictions:
See Schedule A to this Pricing Supplement

Page 3


22
Calculation Agent:
Not applicable
23
Foreign Securities Number ISIN/Common
ISIN:
AU3CB0277291
Code (if any):
Common Code: 229141384
24
Governing Law:
New South Wales, Australia
25
Additional Information:
See Schedules B and C to this Pricing
Supplement

CONFIRMED


By:
RICHARD TEICHMEISTER

By:
JANETTE BRANDON

Authorised officers of European Investment Bank

Date: 23 February 2021

Page 4


SCHEDULE A

The section of the Information Memorandum entitled "Subscription and Sale" is amended by deleting the
selling restrictions set out in paragraphs 3 and 5 and substituting with the following:
"3
New Zealand
Each Dealer has represented and agreed, and each further Dealer appointed under the Programme will be
required to represent and agree, that:
(a)
it has not offered or sold, and will not offer or sell, directly or indirectly, any Notes; and
(b)
it has not distributed and will not distribute, directly or indirectly, any offering materials or
advertisement in relation to any offer of Notes,
in each case in New Zealand other than:
(i)
to persons who are "wholesale investors" as that term is defined in clauses 3(2)(a), (c) and
(d) of Schedule 1 to the Financial Markets Conduct Act 2013 of New Zealand ("FMC
Act"), being a person who is:
(A)
an "investment business";
(B)
"large"; or
(C)
a "government agency",
in each case as defined in Schedule 1 to the FMC Act; or
(ii)
in other circumstances where there is no contravention of the FMC Act, provided that
(without limiting paragraph (i) above) Notes may not be offered or transferred to any
"eligible investors" (as defined in the FMC Act) or any person that meets the investment
activity criteria specified in clause 38 of Schedule 1 to the FMC Act."
"5
Singapore
Any reference to the "SFA" is a reference to the Securities and Futures Act, Chapter 289 of Singapore and
a reference to any term as defined in the SFA or any provision in the SFA is a reference to that term or
provision as modified or amended from time to time including by such of its subsidiary legislation as may
be applicable at the relevant time.
Each Dealer has acknowledged, and each further Dealer appointed under the Programme will be required
to acknowledge, that the Information Memorandum has not been registered as a prospectus with the
Monetary Authority of Singapore.
Accordingly, each Dealer has represented, warranted and agreed, and each further Dealer appointed under
the Programme will be required to represent, warrant and agree, that it has not offered or sold any Notes or
caused the Notes to be made the subject of an invitation for subscription or purchase and will not offer or
sell any Notes or cause the Notes to be made the subject of an invitation for subscription or purchase, and
has not circulated or distributed, nor will it circulate or distribute, the Information Memorandum or any
other document or material in connection with the offer or sale, or invitation for subscription or purchase,
of the Notes, whether directly or indirectly, to any person in Singapore other than:
(a)
to an institutional investor (as defined in Section 4A of the SFA) pursuant to Section 274 of the
SFA;

Page 5


(b)
to a relevant person (as defined in Section 275(2) of the SFA) pursuant to Section 275(1) of the
SFA, or any person pursuant to Section 275(1A) of the SFA, and in accordance with the conditions
specified in Section 275 of the SFA, and (where applicable) Regulation 3 of the Securities and
Futures (Classes of Investors) Regulations 2018; or
(c)
otherwise pursuant to, and in accordance with the conditions of, any other applicable provision of
the SFA.
Where the Notes are subscribed or purchased under Section 275 of the SFA by a relevant person which is:
(1)
a corporation (which is not an accredited investor) (as defined in Section 4A of the SFA) the sole
business of which is to hold investments and the entire share capital of which is owned by one or
more individuals, each of whom is an accredited investor; or
(2)
a trust (where the trustee is not an accredited investor) whose sole purpose is to hold investments
and each beneficiary of the trust is an individual who is an accredited investor,
securities or securities-based derivatives contracts (each term as defined in Section 2(1) of the SFA) of that
corporation or the beneficiaries' rights and interest (howsoever described) in that trust shall not be
transferred within six months after that corporation or that trust has acquired the Notes pursuant to an offer
made under Section 275 of the SFA except:
(i)
to an institutional investor or to a relevant person, or to any person arising from an offer referred to
in Section 275(1A) or Section 276(4)(i)(B) of the SFA;
(ii)
where no consideration is, or will be, given for the transfer;
(iii)
where the transfer is by operation of law;
(iv)
as specified in Section 276(7) of the SFA; or
(v)
as specified in Regulation 37A of the Securities and Futures (Offers of Investments) (Securities and
Securities-based Derivatives Contracts) Regulations 2018."



Page 6


SCHEDULE B

EIB Group Update on COVID-19
In response to the COVID-19 pandemic, the EIB and the European Investment Fund (the "EIF" and
together, the "EIB Group") continue to work on a variety of supportive measures and programmes to help
counter and alleviate the effects of the COVID-19 pandemic both within the European Union ("EU") and
outside of the EU's borders. In the health sector, the supportive measures and programmes mainly focus
on immediate health-related emergencies, the development of a cure and of a vaccine and various solutions
to help contain the spread of the virus. In the economic sphere, the focus of supportive measures and
programmes is on the multiple economic challenges caused by the COVID-19 pandemic, which are having
a profound impact on businesses and the economy as a whole.
As part of its response to the economic effects of the COVID-19 pandemic, the EIB has decided to make a
number of supportive measures available to its clients in certain circumstances, which include, among other
things, (i) the temporary easing (including waivers) of financial covenants and other key clauses, (ii) the re-
profiling of cash flows by setting new repayment schedules or the temporary standstill of repayment
obligations, and (iii) certain other complementary supportive measures, such as the signing of new contracts,
accelerating loan disbursements and increasing amounts lent to borrowers. The EIB is assessing requests
for such measures on a case-by-case basis within the limits of certain specific conditions. These measures
are intended to be extended to clients who are temporarily affected by the economic effects of the COVID-
19 pandemic but who are not experiencing any structural financial difficulties or solvency issues and are
considered to be a going concern at the time of granting such measures. If, as a result of the assessment, a
client does not meet these requirements or the EIB identifies risks for the long-term sustainability of the
client's business model, it will consider any other appropriate measures and, if necessary, follow the EIB's
standard restructuring processes.
Furthermore, to enable the EIB Group to scale up its response to the economic effects of the COVID-19
pandemic, on 26 May 2020, the EIB's Board of Directors approved the creation of the "Pan-European
Guarantee Fund in response to COVID-19" (the "Guarantee Fund"), a temporary guarantee fund with a
focus on supporting financing for SMEs. Each EU Member State is eligible to participate in the Guarantee
Fund with a contribution, pro rata to its share in the EIB's subscribed capital, taking the form of an
irrevocable, unconditional and first demand guarantee, which will cover any potential losses and related
costs, incurred in the implementation of operations supported by the Guarantee Fund, in an amount not to
exceed the level of its participation in the Guarantee Fund. Contributions from EU institutions or institutions
created by EU Member States are also eligible. The Guarantee Fund has a targeted amount of EUR 25
billion in the event that all EU Member States participate. The Guarantee Fund was formally established
on 24 August 2020. As of 11 December 2020, EU Member States accounting for approximately 97% of
the EIB's subscribed capital are participating in the Guarantee Fund.
Both the EIB and the EIF will execute transactions in connection with the Guarantee Fund, which are
expected to focus on high risk operations. As part of the structure of the Guarantee Fund, the EIB will make
available uncollateralised liquidity credit facilities to each of the participating EU Member States, which
will be used solely for the temporary financing of payments owed to the EIB pursuant to the first demand
guarantee in the event that funds to cover such payments are not available from other finance sources of
those EU Member States under the structure of the Guarantee Fund. The EIB will also provide funding for
certain operations of the Guarantee Fund. The Guarantee Fund is temporary in nature and operations may
be submitted for approval until 31 December 2021, which deadline could be extended by six months if at
least 50% of the contributors representing 80% of the contributions consent. Any further prolongation
would be subject to the unanimous agreement of all contributors.
Despite the general context of uncertainty in the global financial markets due to the COVID-19 pandemic,
the EIB Group currently continues to maintain a robust liquidity position and flexibility to access the
necessary liquidity resources mainly as a result of its prudent approach to liquidity management. Moreover,

Page 7


in general, the quality of the EIB's loan portfolio currently remains high as it relies on a risk management
strategy based on adequate levels of security and guarantees, as well as standard protective clauses included
in its loan agreements. While it is difficult at this stage to quantify the ultimate impact of the economic
effects of the COVID-19 pandemic on the EIB, certain value adjustments and impairments for potential
losses in respect of the EIB's loan portfolio have been reflected, as applicable, in the unaudited condensed
semi-annual consolidated financial statements of the EIB Group under IFRS as of 30 June 2020 and for the
six-month period then ended, the unaudited condensed semi-annual consolidated financial statements of the
EIB Group under EU Accounting Directives as of 30 June 2020 and for the six-month period then ended,
and the unaudited condensed semi-annual financial statements of the EIB under EU Accounting Directives
as of 30 June 2020 and for the six-month period then ended, which have been published on the EIB's
website. The EIB Group continues to monitor the situation closely, including the impact of the COVID-19
pandemic on its loan portfolio. In the context of national, EU and international measures taken in response
to the COVID-19 pandemic, the EIB Group may also consider and implement additional or increased
supportive measures and programmes.



Page 8


SCHEDULE C
The section of the Information Memorandum entitled "Information relating to the European Investment
Bank" is amended as follows:
1
the information under the heading "Constitution and Membership" is deleted and substituted with
the following:
"The Issuer is separate from the EU institutions and it has its own governing bodies, sources of
revenues and financial operations and is solely responsible for its indebtedness. The Issuer is
governed by the provisions of the Treaty, the Statute of the Issuer, as amended, which is annexed
as a protocol to the Treaty (the "Statute"), and the Protocol on the Privileges and Immunities of
the European Union (the "Protocol").
The Treaty establishes the Issuer and defines the mission of the Issuer. The Statute sets forth the
objectives, structure, capital, membership, financial resources, means of intervention and auditing
arrangements of the Issuer. The Protocol gives the Issuer a range of privileges and immunities
considered necessary for the performance by the Issuer of its tasks and other functions.
The members of the Issuer are the 27 Member States of the EU and the following table sets out the
share of each Member State in the subscribed capital of the Issuer as of the date of the Information
Memorandum.
Country
EUR
Germany
46,722,369,149
France
46,722,369,149
Italy
46,722,369,149
Spain
28,033,421,847
Netherlands
12,951,115,777
Belgium
12,951,115,777
Poland
11,366,679,827
Sweden
8,591,781,713
Denmark
6,557,521,657
Austria
6,428,994,386
Finland
3,693,702,498
Greece
3,512,961,713
Portugal
2,263,904,037
Czech Republic
2,206,922,328
Hungary
2,087,849,195
Ireland
1,639,379,073
Romania
1,639,379,073
Croatia
1,062,312,542
Slovakia
751,236,149
Slovenia
697,455,090

Page 9


Country
EUR
Bulgaria
510,041,217
Lithuania
437,633,208
Luxembourg
327,878,318
Cyprus
321,508,011
Latvia
267,076,094
Estonia
206,248,240
Malta
122,381,664
Total subscribed capital
248,795,606,881

The board of directors of the Issuer may require payment of the balance of the subscribed capital,
to such extent as may be required by the Issuer to meet its obligations. Each Member State shall
make this payment in proportion to its share of the subscribed capital.";
2
the information under the heading "Administration" is deleted and substituted with the following:
"The Issuer is directed and managed by a board of governors, a board of directors and a
management committee. The board of governors consists of government ministers, usually
ministers of finance, appointed by the Member States. The board of governors lays down general
directives on the credit policy of the Issuer and ensures that such directives are implemented. In
addition, the board of governors decides on increases in the subscribed capital and the Issuer's
participation in financing operations outside the EU. Decisions of the board of governors are based
on a voting regime ranging from simple majority (representing at least 50% of the subscribed
capital) to unanimity.
The board of directors is composed of 28 directors and 31 alternate directors, each appointed by the
board of governors on nomination by the Member States and the Commission of the EU. There are
also six non-voting experts co-opted to the board of directors. Functions of the board of directors
include, but are not limited to, the following: (a) taking decisions in respect of granting finance, in
particular, in the form of loans and guarantees and borrowings; (b) approving the criteria for the
fixing of interest rates; and (c) ensuring that the Issuer is managed in accordance with the provisions
of the Treaty and the Statute and the general directives laid down by the board of governors.
Decisions of the board of directors are based on a voting regime ranging from one third of its
members (representing at least 50% of the subscribed capital) to unanimity.
The management committee consists of the president and vice-presidents appointed for a period of
six years by the board of governors on a proposal from the board of directors. The management
committee as the executive body of the Issuer is responsible for the day-to-day business of the
Issuer. The management committee prepares the decisions of the board of directors, in particular,
the decisions on granting finance, in particular, in the form of loans and guarantees, and it ensures
that such decisions are implemented."; and
3
the following paragraphs are added to the section:
"Lending Activities
In support of the objectives of the EU, the Issuer finances investments carried out by public or
private undertakings, in particular, in the areas of transport, energy, information technology,

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