Obligation NorthInvest Bank 2.5% ( US65562QAP00 ) en USD

NorthInvest Bank

100 % ▼

Finlande

US65562QAP00 ( en USD )

2.5% par an ( paiement semestriel )

15/07/2015 - Obligation échue

Prospectus brochure de l'obligation Nordic Investment Bank (NIB) US65562QAP00 en USD 2.5%, échue

100 000 USD

1 250 000 000 USD

65562QAP0

La Nordic Investment Bank (NIB) est une banque multilatérale de développement appartenant aux pays nordiques et détenue par leurs gouvernements, qui finance des projets de développement dans ces pays et dans les pays voisins de la région de la Baltique.

L'Obligation émise par NorthInvest Bank ( Finlande ) , en USD, avec le code ISIN US65562QAP00, paye un coupon de 2.5% par an.
Le paiement des coupons est semestriel et la maturité de l'Obligation est le 15/07/2015

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Table of Contents
Filed pursuant to Rule 424(b)(2)
Registration No. 333-142934
PRICING SUPPLEMENT
(To prospectus dated May 22, 2007 and
prospectus supplement dated May 22, 2007)

Nordic Investment Bank
Medium-Term Notes, Series D
Due Nine Months or More from Date of Issue
US$1,250,000,000 2.50% NOTES DUE JULY 15, 2015
Issue Price: 99.760%
The Notes will mature on July 15, 2015. The Notes will not be redeemable before maturity and will not be entitled to the benefit of any sinking fund.
NIB has applied to list the Notes on the Regulated Market of the Luxembourg Stock Exchange in accordance with the Rules of the Luxembourg Stock Exchange pursuant
to Chapter 2 of Part III of the Loi relative aux prospectus pour valeurs mobilières dated July 10, 2005 (the "Luxembourg Prospectus Act").
Neither the Securities and Exchange Commission nor any other regulatory body has approved or disapproved of these securities or determined whether this pricing
supplement or the related prospectus supplement and prospectus is truthful or complete. Any representation to the contrary is a criminal offense.

Price to
Discounts and
Proceeds, before

Public
Commissions
expenses, to NIB
Per Note

99.760%
0.125%
99.635%
Total
US$1,247,000,000
US$1,562,500
US$1,245,437,500
Purchasers of the Notes will also be required to pay accrued interest from June 4, 2010 if the Notes are delivered after that date.
The underwriters expect to deliver the Notes to investors on or about June 4, 2010.

CREDIT

NOMURA
RBC CAPITAL
SUISSE

HSBC
INTERNATIONAL
MARKETS
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BNP PARIBAS
NORDEA MARKETS
RBS
The date of this Pricing Supplement is May 27, 2010.

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ABOUT THIS PRICING SUPPLEMENT
This pricing supplement supplements the accompanying prospectus supplement dated May 22, 2007, relating to NIB's US$10,000,000,000 Medium-Term Note
Program and the accompanying prospectus dated May 22, 2007, relating to NIB's debt securities and warrants. If the information in this pricing supplement differs from
the information contained in the prospectus supplement or the prospectus, you should rely on the information in this pricing supplement.
This pricing supplement, together with the accompanying prospectus supplement and prospectus dated May 22, 2007, fulfills the requirement for a simplified
prospectus pursuant to chapter 2 of Part III of the Luxembourg Prospectus Act.
You should read this pricing supplement along with the accompanying prospectus supplement and prospectus. All three documents contain information you should
consider when making your investment decision. You should rely only on the information provided or incorporated by reference in this pricing supplement, the prospectus
supplement and the prospectus. NIB has not authorized anyone else to provide you with different information. NIB and the purchasers are offering to sell the Notes and
seeking offers to buy the Notes only in jurisdictions where it is lawful to do so. The information contained in this pricing supplement and the accompanying prospectus
supplement and prospectus is current only as of its date.
NIB is furnishing this pricing supplement, the prospectus supplement and the prospectus solely for use by prospective investors in connection with their
consideration of a purchase of the Notes. NIB confirms that:

·
the information contained in this pricing supplement and the accompanying prospectus supplement and prospectus is true and correct in all material respects and
is not misleading;

·
it has not omitted other facts the omission of which makes this pricing supplement and the accompanying prospectus supplement and prospectus as a whole
misleading; and

·
it accepts responsibility for the information it has provided in this pricing supplement and the accompanying prospectus supplement and prospectus.
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DESCRIPTION OF THE NOTES
NIB will issue the Notes under the Fiscal Agency Agreement dated as of May 22, 2007, as amended by an agreement dated October 2, 2009. The information
contained in this section and in the prospectus supplement and the prospectus summarizes some of the terms of the Notes and the Fiscal Agency Agreement. This summary
does not contain all of the information that may be important to you as a potential investor in the Notes. You should read the Fiscal Agency Agreement and the form of the
Notes before making your investment decision. NIB has filed copies of these documents with the SEC and has filed copies of these documents at the offices of the fiscal
agent and the paying agent.

Aggregate Principal Amount:
US$1,250,000,000

Issue Price:
99.760%

Original Issue Date:
June 4, 2010

Maturity Date:
July 15, 2015

Specified Currency:
U.S. Dollars

Authorized Denominations:
US$100,000 and integral multiples of US$1,000 thereafter

Form:
The Notes will be issued in book-entry form under a master global security, in registered form without
coupons registered in the name of Cede & Co., as nominee of The Depository Trust Company.

Interest Rate:
2.50% per annum

Interest Payment Dates:
January 15 and July 15 of each year, starting on January 15, 2011, until and including the Maturity
Date. The initial interest period will be a long interest period. Any payment required to be made on a
day that is not a Business Day will be made on the next succeeding Business Day, and no additional
interest shall accrue as a result of such delayed payment.

Day Count Fraction:
30/360 (Unadjusted)

Regular Record Date:
Fifteen calendar days immediately preceding the Interest Payment Date.

Business Days:
New York

Optional Repayment:
___Yes X No

Optional Redemption:
___Yes X No

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Indexed Note:
___Yes X No

Foreign Currency Note:
___Yes X No
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Purchasers:
Credit Suisse Securities (Europe) Limited, HSBC Bank plc, Nomura International plc, RBC Capital
Markets Corporation, BNP Paribas, Nordea Bank Danmark A/S and RBS Securities Inc.

Purchase Price:
99.635%

Net Proceeds, after Commissions, to NIB:
US$1,245,437,500

Closing Date:
June 4, 2010

Listing: Luxembourg

Securities Codes:

CUSIP: 65562Q
AP0

ISIN: US65562QAP00

Common Code:
051500369

Fiscal Agent:
Citibank, N.A.

Paying Agent:
Citibank, N.A.

Luxembourg Paying Agent:
BNP Paribas Securities Services, Luxembourg Branch

Calculation Agent:
Citibank, N.A.

Exchange Rate Agent:
Citibank, N.A.

Transfer Agent:
Citibank, N.A.

Further Issues:
NIB may from time to time, without the consent of existing holders, create and issue further Notes
having the same terms and conditions as the Notes being offered hereby in all respects, except for the
issue date, issue price and, if applicable, the first payment of interest thereon. Additional Notes issued
in this manner will be consolidated with, and will form a single series with, the previously outstanding
Notes.

Payment of Principal and Interest:
Under the laws of New York, claims relating to payment of principal and interest on the Notes will be
prescribed according to the applicable statute of limitations. See also "Payment of Principal and
Interest" below.

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Governing Law:
The Notes will be governed by, and construed in accordance with, New York law, except for
authorization and execution of the Notes by NIB and any other matters required to be governed by the
2004 Agreement and the Statutes of NIB, as amended.
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Further Information:
See "General Information Relating to the Luxembourg Stock Exchange Listing".
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NORDIC INVESTMENT BANK -- RECENT DEVELOPMENTS
The information included in this section supplements the information about NIB corresponding to the headings below that is incorporated by reference in the
accompanying prospectus supplement dated May 22, 2007 and prospectus dated May 22, 2007. To the extent that the information included in this section differs from the
information incorporated by reference in the prospectus, you should rely on the information in this section.
Between December 31, 2009 and May 27, 2010 NIB has carried out 23 borrowing transactions in 7 different currencies, in an amount corresponding to Euro
1,755 million*. Repayment of borrowings previously entered into corresponded to Euro 224 million. The maturity profile for new borrowings during this period is set
forth in the table below.
Maturity profile for new borrowing

Number of
Amount in

transactions
EUR million
Percentage

1-3 years
19
1,235
71
>3-5 years
3
497
28
>5-7 years

0
0
0
>7-10 years

1
23
1
10 years and longer

0
0
0
Total
23
1,755
100

*
During the period NIB has entered into an additional new borrowing transaction that has not yet settled corresponding to Euro 75 million.
Provisions for loan losses
Currently there are two loans in non-performing status.
Change of Independent Auditors
Based on a tender process the Control Committee of NIB appointed as its independent joint auditors for NIB for the 2008 and 2009 financial years Authorized
Public Accountant Sixten Nyman representing the accounting firm KPMG Oy Ab, Finland, and State Authorized Public Accountant Per Gunslev, representing KPMG
Statsautoriseret Revisionspartnerselskab, Denmark. NIB has reappointed KPMG Oy Ab, Finland and KPMG Statsautoriseret Revisionspartnerselskab, Denmark as its
independent joint auditors for the 2010 financial year.
EXPERTS
The financial statements of Nordic Investment Bank for the years ended December 31, 2009 and 2008 appearing in Nordic Investment Bank's Annual Report on
Form 18-K filed on May 12, 2010 and on Form 18-K filed on May 14, 2009, respectively, have been audited by KPMG Oy Ab, Finland and KPMG Statsautoriseret
Revisionspartnerselskab, Denmark, independent joint auditors, as set forth in their report thereon included therein, and incorporated herein by reference. The financial
statements of Nordic Investment Bank for the year ended December 31, 2007 appearing in Nordic Investment Bank's Annual Reports on Form 18-K/A filed on April 4,
2008 and Form 18-K filed on May 9, 2008 have been audited by Ernst & Young, independent auditors, as set forth in their reports thereon included therein, and
incorporated herein by reference. Such financial statements are incorporated herein by reference in reliance upon such reports given on the authority of such firm as
experts in accounting and auditing.
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