Obligation Euro Investment Bank 0% ( XS0263023409 ) en CZK

Euro Investment Bank

100 % ▼

Luxembourg

XS0263023409 ( en CZK )

18/08/2030

Prospectus brochure de l'obligation European Investment Bank (EIB) XS0263023409 en CZK 0%, échéance 18/08/2030

1 000 000 CZK

500 000 000 CZK

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 XS0263023409 émise par la Banque européenne d'investissement (BEI) au Luxembourg, d'une valeur nominale totale de 500 000 000 CZK, avec un prix de marché actuel de 100%, offre un taux d'intérêt de 0% et une maturité fixée au 18/08/2030, avec des paiements d'intérêts annuels et une taille minimale d'achat de 1 000 000 CZK.

Offering Circular

European Investment Bank
Debt Issuance Programme
This offering circular describes the debt issuance programme under which European Investment Bank may from time to time
issue bonds in the international bond market. There is no limit on the total aggregate principal amount of bonds which may be
issued or outstanding at any time under the programme. Such bonds will be issued on the terms and conditions set out in this
document as modified and supplemented by the final terms published at the time of issue.
Application has been made to the Luxembourg Stock Exchange for bonds issued under the programme to be admitted to the
official list of, and to trading on, the Bourse de Luxembourg, which is the regulated market of the Luxembourg Stock Exchange.
Unlisted bonds and bonds listed on the regulated markets of other stock exchanges may also be issued.
Bonds issued under the programme will (unless otherwise specified in the relevant final terms) be issued in global form and
deposited with either a depositary for Euroclear Bank S.A./N.V., as operator of the Euroclear System and Clearstream Banking,
société anonyme, or a custodian for the Depositary Trust Company. For more details see "Summary of provisions relating to the
bonds while in global form".
In many countries it is unlawful to offer bonds for sale without complying with certain laws and regulations. No bonds issued
under the programme may be offered or sold except in compliance with such laws and regulations. Readers of this document
should inform themselves about such laws and regulations. For more details see "Subscription and sale".
The bonds issued under the programme have not been and will not be registered under the U.S. Securities Act of 1933 (the
"Securities Act"), and may include bonds in bearer form that are subject to U.S. tax law requirements. Bonds issued under the
programme may not be offered, sold or delivered within the United States unless pursuant to an exemption from, or in a
transaction not subject to, the registration requirements of the Securities Act and applicable U.S. tax law requirement are
satisfied.

Arrangers
Deutsche Bank
Goldman Sachs International
The date of this offering circular is 10 May 2006

CONTENTS
NOTICE TO READERS.................................................................................................................................... 3
SUMMARY DESCRIPTION OF THE PROGRAMME ................................................................................... 4
RISK FACTORS RELATING TO STRUCTURED BONDS ............................................................................ 6
TERMS AND CONDITIONS OF THE BONDS............................................................................................... 7
SUMMARY OF PROVISIONS RELATING TO THE BONDS WHILE IN GLOBAL FORM ..................... 25
COLLECTIVE BONDS................................................................................................................................... 30
SUBSCRIPTION AND SALE ......................................................................................................................... 31
RULE 144A ISSUES ....................................................................................................................................... 33
BOOK-ENTRY SYSTEM................................................................................................................................ 36
FORM OF FINAL TERMS.............................................................................................................................. 40
GENERAL INFORMATION ........................................................................................................................... 52

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NOTICE TO READERS
This document, together with each final terms, contains all the information that European Investment Bank
has authorised to be published concerning the programme. Any information not contained herein must not be
relied upon as having been authorised by European Investment Bank, the Arrangers or any relevant dealer.
This document does not constitute an offer of, or an invitation to purchase, any bonds.
In connection with any issue of 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 bonds (provided that, in the case of any tranche of bonds to be listed on the Luxembourg Stock
Exchange, the aggregate principal amount of bonds allotted does not exceed 105 per cent. of the aggregate
principal amount of the relevant tranche) or effect transactions with a view to supporting the market price of
the bonds at a level higher than that which might otherwise prevail. However, there is 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 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
bonds and 60 days after the date of the allotment of the relevant tranche of bonds.
The terms and conditions set out in this offering circular apply to any issue of bonds on or after the date of
this offering circular unless the relevant final terms specify that the terms and conditions set out in another
offering circular apply to such issue. This offering circular was last revised on the date appearing on the cover.
It speaks as of that date only.

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SUMMARY DESCRIPTION OF THE PROGRAMME
The following is a summary only. For full details, refer to the appropriate section elsewhere in this document.
Bonds may be issued on terms that are different from those appearing in this document. If so, the relevant
terms will be specified in the final terms relating to those bonds.
Issuer:
European Investment Bank ("EIB")
Arrangers:
Deutsche Bank AG, London Branch and Goldman Sachs
International
Agents and dealers:
Citibank, N.A. is the fiscal agent, principal paying agent,
registrar, exchange agent, transfer agent and calculation agent
under the programme. Other agents are listed at the end of this
offering circular. The relevant dealers appointed in relation to
each issue of bonds will be identified in the relevant final
terms.
Method of issue:
Bonds may be issued on a multi-dealer ("syndicated") or
single-dealer ("non-syndicated") basis.
Further issues:
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, first interest payment date (if any)
and issue price.
Issue price:
Bonds may be issued at their principal amount or at a discount
or premium to their principal amount. Partly-paid bonds may be
issued, the issue price of which will be payable in two or more
instalments.
Form of bonds:
Bonds may be issued in the following forms:

(i) bearer

(ii) registered

(iii) bearer exchangeable for registered.
Clearing systems:
Bonds will normally be initially issued to a common depositary
for Euroclear Bank S.A./N.V., as operator of the Euroclear
System ("Euroclear") and Clearstream Banking, société
anonyme ("Clearstream Banking Luxembourg") or deposited
with a custodian for, and registered in the name of Cede & Co.
as nominee for, the Depository Trust Company ("DTC"). Bonds
may also be issued to a custodian for Clearstream Banking
Aktiengesellschaft ("Clearstream Banking Frankfurt") or for
any other clearing system agreed by EIB, the relevant dealer
and the Fiscal Agent.
Currencies:
Any currency (subject to compliance with relevant laws).
Maturities:
Any maturity (subject to compliance with relevant laws).
Denominations:
As specified in the relevant final terms.

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Redemption:
Principal may be repaid in a single payment at maturity, or by
instalments.
Optional redemption:
Each final terms will state whether the relevant bonds may be
redeemed prior to their stated maturity at the option of EIB
(either in whole or in part) and/or the holders, and if so the
terms applicable to such redemption.
Purchase of bonds by EIB:
EIB may at any time purchase bonds in the open market or
otherwise at any price. Any bonds so purchased may be held,
sold or cancelled at EIB's discretion.
Status of bonds:
Senior unsecured. See "Terms and Conditions of the Bonds -
Status and Negative Pledge".
Negative pledge:
Bonds will be issued with the benefit of EIB's standard
negative pledge. See "Terms and Conditions of the Bonds -
Status and Negative Pledge".
Cross-default:
Bonds will be issued with the benefit of EIB's standard cross-
default clause. See "Terms and Conditions of the Bonds -
Events of Default".
Governing law:
English law, Luxembourg law or another governing law as
specified in the relevant final terms.
Listing:
Application has been made to the Luxembourg Stock Exchange
for bonds issued under the programme to be admitted to the
official list of, and trading on, the Bourse de Luxembourg,
which is the regulated market of the Luxembourg Stock
Exchange. Unlisted bonds and bonds listed on the regulated
markets of other stock exchanges may also be issued.
Redenomination:
Bonds denominated in a currency that may be converted into
euro may be subject to special provisions relating to
redenomination, renominalisation and/or consolidation with
other bonds denominated in euro, if specified in the relevant
final terms.
Selling Restrictions:
There are restrictions on the sale of bonds and the distribution
of offering material in various jurisdictions. See "Subscription
and Sale".
Transfer Restrictions:
There are restrictions on the transfer of registered bonds sold
pursuant to Rule 144A under the Securities Act ("Rule 144A").
See "Rule 144A Issues".

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RISK FACTORS RELATING TO STRUCTURED BONDS
Structured bonds are bonds in relation to which principal and/or interest is linked to exchange rates,
commodity prices, interest rates, credit events or other assets, indices, formulae or events or which may be
redeemed early at the option of EIB.
An investment in structured bonds may entail significant risks not associated with similar investments in
conventional debt securities, including the risks that the resulting interest rate will be less than that payable on
a conventional debt security at the same time and/or that an investor could lose all or a substantial portion of
the principal amount of its investment.
Historical values should not be taken as an indication of future values.
This section does not describe all the risks of an investment in structured bonds. Prospective purchasers
should consult their own professional advisers about the risks associated with investment in a particular series
of bonds and the suitability of investing in those bonds in the light of their particular circumstances.

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TERMS AND CONDITIONS OF THE BONDS
The following are the terms and conditions (the "Conditions") that, as supplemented or varied by the relevant
final terms, shall be applicable to the bonds in definitive form (if any) issued in exchange for the global
bond(s) or collective bond representing them. The full text of the terms and conditions of any series of bonds
shall be endorsed on the relevant definitive bonds or certificates. References in these Conditions to "Bonds"
are to bonds of one series only, not to all bonds that may be issued under the programme.
While Bonds are in global form, these Conditions are supplemented and varied by other provisions. See
"Summary of provisions relating to the bonds while in global form".
Where information is stated to be "specified", it will be specified in the final terms relating to the Bonds.
Capitalised terms which are not defined within the text are defined in Condition 19 or will be defined in the
final terms.
1
Agency Agreement and Agents
The Bonds are issued pursuant to the Agency Agreement between European Investment Bank ("EIB") as
issuer and Citibank, N.A. as Fiscal Agent, principal Paying Agent, Registrar, Transfer Agent, Exchange Agent
and Calculation Agent and Dexia Banque Internationale à Luxembourg, société anonyme as Paying Agent and
Transfer Agent. Bondholders are deemed to have notice of all of the provisions of the Agency Agreement.
If the final terms state that the Bonds are governed by English law, then the Bonds are issued additionally
with the benefit of the Deed of Covenant executed by EIB.
The final terms will specify the identities of the agents appointed in relation to the Bonds, and the office(s)
out of which they are acting for that purpose. In the case of Bearer Bonds, this will include the Fiscal Agent
and principal Paying Agent and may include one or more additional Paying Agents. In the case of Registered
Bonds, this will include the Fiscal Agent and the Registrar and may include one or more Transfer Agents and
an Exchange Agent. Unless otherwise specified, the Fiscal Agent will also act as Calculation Agent. In these
Conditions, the term "Paying Agent" shall include the Fiscal Agent and the principal Paying Agent.
The Fiscal Agent, the Paying Agents, the Registrar, the Transfer Agents, the Exchange Agent and the
Calculation Agent act solely as agents of EIB and do not assume any obligation or relationship of agency or
trust for or with any Bondholder or Couponholder. EIB reserves the right at any time to vary or terminate the
appointment of any agent and to appoint additional or other agents, provided that EIB shall at all times
maintain a Fiscal Agent, a Registrar (in relation to Registered Bonds), one or more Calculation Agents where
the Conditions so require and such other agents as may be required by the rules of any stock exchange on
which the Bonds may be listed. Notice of any change in the identity or the specified office of any agent will
promptly be given to Bondholders.
2
Form, Denomination and Title
The Bonds are issued either as Bearer Bonds or as Registered Bonds. Exchangeable Bearer Bonds may, as so
specified, be exchanged for an equivalent principal amount of Registered Bonds. Bonds will be issued in the
denomination(s) specified. When used below, the expression "Bearer Bonds" includes Exchangeable Bearer
Bonds.
Bearer Bonds are serially numbered and, if they bear interest, are issued with Coupons and, if necessary,
Talons, attached. Bearer Bonds that are redeemable in instalments of principal are issued with Receipts
attached.

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Certificates shall be issued to Holders of Registered Bonds. Title to Bearer Bonds, Coupons and Talons shall
pass by delivery. Title to Registered Bonds shall pass by registration in the Register. Each Receipt is to be
detached from its Bond only by a Paying Agent when the relevant instalment of principal is paid, to show that
the Holder of the Bond has received that instalment of principal. A Receipt is not a bearer instrument and title
to it cannot pass separately from the Bond to which it is attached on issue. If detached from the relevant Bond
it is, therefore, of no effect.
The Holder of any Bond, Coupon or Talon shall be deemed to be its absolute owner for all purposes,
regardless of any notice of trust or joint ownership, any writing on it (or on the Certificate representing it) or
its theft or loss (or that of the related Certificate).
Bearer Bonds, once issued in definitive form in one denomination, may not be exchanged for Bearer Bonds of
another denomination.
3
Provisions relating to Registered Bonds
(a)
Exchange of Exchangeable Bearer Bonds
Subject as provided in paragraph (f) below, Exchangeable Bearer Bonds may be exchanged for the
same aggregate principal amount of Registered Bonds at the request in writing of the relevant
Bondholder. The Bondholder must surrender each Exchangeable Bearer Bond to be exchanged,
together with all unmatured Coupons and Talons relating to it, at the specified office of a Transfer
Agent. In this context an "unmatured" Coupon is one in relation to which the Record Date has not yet
occurred.
(b)
Transfer of Registered Bonds
Registered Bonds may be transferred upon the surrender (at the specified office of the Registrar or a
Transfer Agent) of the Certificate representing such Registered Bonds, together with the form of
transfer endorsed on such Certificate duly completed and executed and any other evidence that the
Registrar or Transfer Agent may reasonably require. In the case of a transfer of part only of a holding
of Registered Bonds represented by one Certificate, the existing Certificate shall be cancelled and two
new Certificates shall be issued: one to the transferee, in respect of the Bonds transferred, and one to
the transferor, in respect of the Bonds not transferred.
(c)
Exercise of options in respect of, or partial redemption of, Registered Bonds
In the case of an exercise of EIB's or a Bondholder's option in respect of, or a partial redemption of, a
holding of Registered Bonds represented by a single Certificate, a new Certificate shall be issued to the
Holder to reflect the exercise of such option or in respect of the balance of the holding not redeemed.
In the case of a partial exercise of an option resulting in Registered Bonds of the same holding having
different terms, separate Certificates shall be issued in respect of those Bonds of that holding that have
the same terms. New Certificates shall only be issued against surrender of the existing Certificates to
the Registrar or a Transfer Agent. In the case of a transfer of Registered Bonds to a person who is
already a holder of Registered Bonds, a new Certificate representing the enlarged holding shall only be
issued against surrender of the Certificate representing the existing holding.
(d)
Delivery of new Certificates
Each new Certificate to be issued pursuant to this condition shall be available for delivery within three
business days (at the specified office of the Registrar or the relevant Transfer Agent) of receipt of the
required documentation by the Registrar or a Transfer Agent. Delivery of the new Certificate shall be
made by collection from the office to which the relevant application was made. Alternatively, if

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requested in writing by the Holder of the Bonds represented by the new Certificate (and at such
Holder's risk), the new Certificate may be despatched by uninsured mail to the address specified by the
Holder.
(e)
Registration free of charge
Neither EIB, the Registrar nor any Transfer Agent shall charge for any registration. However, if any
tax or duty is, or may be, imposed in connection with such registration, registration may be refused
until the person applying for the registration has paid such tax or duty (or has given such indemnity as
the Registrar or the relevant Transfer Agent may require).
(f) Closed
periods
No Bondholder may require the transfer of a Registered Bond to be registered or an Exchangeable
Bearer Bond to be exchanged:
(i)
during the period of fifteen days before the final redemption date of the Bond or the date for
payment of an instalment of principal
(ii) during the period of fifteen days before any date on which the Bond may be called for
redemption by EIB on exercise of an Issuer's option
(iii) after the Bond has been called for redemption by EIB on exercise of an Issuer's option or
(iv)
during the period of seven days before any Record Date.
An Exchangeable Bearer Bond called for redemption by EIB on exercise of an Issuer's option may,
however, be exchanged for one or more Registered Bond(s) before the relevant Record Date. In such
an event the Registrar or the relevant Transfer Agent may require the new Certificate to be surrendered
immediately on issue.
4
Status and Negative Pledge
The Bonds, Coupons and Talons will be unconditional, direct and general obligations of EIB in accordance
with their terms for their payment and performance. The Bonds, Coupons and Talons 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 Bonds, Coupons and Talons. If EIB shall in the future secure any such present or future
indebtedness by any mortgage, pledge or other security interest on any 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 Bonds, Coupons and Talons will be secured by such mortgage, pledge or security
interest equally and rateably with such indebtedness and the instrument creating such mortgage, pledge or
other security interest will expressly so provide.
5
Interest and other Calculations
(a)
Interest Rate and accrual
Each Bond shall be of the Interest Type specified.
Each Bond (except those with an Interest Type specified as Zero Coupon) shall bear interest at the
rate(s) specified in respect of the period from the Interest Commencement Date to the first Interest
Period End Date and each successive period from one Interest Period End Date to the next. Each of

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these periods is a "Calculation Period". When counting the number of days in any period, the first day
shall be included, but not the last.
The amount of interest payable on any Bond in respect of any period shall be the product of the
following formula:
Outstanding principal amount of the Bond x Interest Rate for the relevant Calculation Period x
Day Count Fraction
Interest shall be payable in arrear on each Interest Payment Date.
Interest shall cease to accrue on each Bond on the final Interest Period End Date unless, when the
Bond is presented for payment of principal, payment is improperly withheld or refused, in which event
interest shall continue to accrue (both before and after judgment) at the Interest Rate until the Actual
Payment Date. The foregoing rule shall also apply, mutatis mutandis, in the event of late payment of an
instalment of principal or the late payment of interest.
If no Day Count Fraction is specified, the Day Count Fraction will be determined by the Calculation
Agent in accordance with market practice.
(b)
Interest Rate on Fixed Rate Bonds
If the Interest Type is specified as being Fixed Rate, the Interest Rate for the relevant Calculation
Period shall be the rate, expressed as a decimal, equal to the per annum rate specified.
However, if an Interest Amount in respect of each or any Calculation Period (or a Broken Amount in
respect of any period less than a full Calculation Period), or a method for its calculation, is specified,
the amount of interest payable on the Interest Payment Date applicable to such period shall be that
Interest Amount (or Broken Amount), or shall be calculated in accordance with that method specified,
instead of in accordance with Condition 5(a).
(c)
Interest Rate on Floating Rate Bonds
If the Interest Type is specified as being Floating Rate, the Interest Rate for the relevant Calculation
Period shall be determined by the Calculation Agent on each Interest Determination Date in
accordance with the following provisions. The Interest Rate for each Calculation Period shall apply
with effect from the Reset Date for that Calculation Period.
If the final terms specify "Screen Page", the Interest Rate for a Reset Date shall be the rate for deposits
in the Relevant Currency for a period of the Designated Maturity which appears on that Screen Page as
of the Interest Determination Time on the Interest Determination Date, provided that if such rate does
not appear on the relevant Screen Page, the Interest Rate for that Reset Date shall be determined as if
the final terms had specified "Reference Banks".
If the final terms specify "Reference Banks", the Interest 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 Interest 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 the principal
financial centre of the relevant currency (or if the Relevant Currency is the euro, major banks in the
euro-zone) at approximately the Interest Determination Time on that Reset Date for loans in the

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