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As Of Filer Filing For·On·As Docs:Size Issuer Filing Agent 4/20/23 European Investment Bank FWP 1:16K European Investment Bank Cravath Swaine & … 01/FA |
Document/Exhibit Description Pages Size 1: FWP Free-Writing Prospectus HTML 15K
Free Writing Prospectus
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Filed Pursuant to Rule 433(d)
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Dated 18 April 2023
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Registration Statement No. 333-251291
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Issuer:
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European Investment Bank
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Ratings(1):
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AAA (S&P)(2) / Aaa (Moody’s)(2) / AAA (Fitch)(2)
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Status:
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Senior Unsecured Notes
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Format:
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SEC-Registered
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Currency/Size:
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USD 4,000,000,000
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Maturity:
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15 July 2030
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Coupon:
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3.625% (semi-annual)
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Interest Payment Dates:
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15 January and 15 July of each year, commencing on 15 July 2023 (short first coupon)
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Reoffer:
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99.320%
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Underwriting Discount:
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0.150%
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Yield to Maturity:
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3.734%
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Benchmark:
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UST 7yr 3.625% due 31 March 2030
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Spread to Benchmark:
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+11.15bps
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Benchmark Yield:
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3.622%
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Trade Date:
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18 April 2023
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Settlement(3):
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25 April 2023 (T+5)
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ISIN / CUSIP / Common Code:
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US298785JW79 / 298785JW7 / 261565820
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Denominations:
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USD 1,000
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Governing Law:
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New York
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Listing:
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The Notes are expected to be listed on the Luxembourg Stock Exchange. No assurance can be given that such application will be approved or that any of the Notes will be listed.
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Target Market:
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Retail / Professional / Eligible Counterparties (all distribution channels)(4)
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Leads:
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Barclays / J.P. Morgan / Morgan Stanley
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(1) |
A security rating is not a recommendation to buy, sell or hold securities. Ratings are subject to revision or withdrawal at any time by the assigning rating organization. Each rating should be evaluated independently of any other
rating.
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(2) |
Carrying a stable outlook.
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(3) |
It is expected that delivery of the Notes will be made against payment therefor on or about 25 April 2023, which will be the fifth business day following the date of pricing of the Notes (this settlement cycle being referred to as
“T+5”). Under Rule 15c6-1 under the U.S. Securities Exchange Act of 1934, as amended, trades of securities in the secondary market generally are required to settle in two business days, unless the parties to any such trade expressly
agree otherwise. Accordingly, purchasers who wish to trade the Notes prior to the second business day before the delivery of the Notes will be required, by virtue of the fact that the Notes initially will settle in T+5, to specify an
alternate settlement cycle at the time of any such trade to prevent a failed settlement. Purchasers of the Notes who wish to make such trades should consult their own advisor.
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(4) |
The Issuer does not fall under the scope of application of the UK MiFIR package. Consequently, the Issuer does not qualify as an “investment firm”, “manufacturer” or “distributor” for the purposes of UK MiFIR. Solely for the purposes
of each 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 retail clients, as defined in point (8) of Article 2 of
Regulation (EU) No 2017/565 and eligible counterparties, as defined in COBS and professional clients, as defined in UK MiFIR; and (ii) all channels for distribution of the Notes are appropriate, subject to the distributor’s suitability
and appropriateness obligations under COBS, as applicable. Any person subsequently offering, selling or recommending the Notes (a “distributor”) should take into consideration the manufacturers’ target market assessment; however, a
distributor subject to the UK MiFIR Product Governance Rules is responsible for undertaking its own target market assessment in respect of the Notes (by either adopting or refining the manufacturers’ target market assessment) and
determining appropriate distribution channels, subject to the distributor’s suitability and appropriateness obligations under COBS, as applicable. For the purposes of this paragraph, the expression “UK MiFIR” means Regulation (EU) No
600/2014 of the European Parliament and of the Council of 15 May 2014 on markets in financial instruments and amending Regulation (EU) No 648/2012, as amended from time to time, as it forms part of UK domestic law by virtue of the EUWA,
the expression “Regulation (EU) No 2017/565” means Commission Delegated Regulation (EU) 2017/565 of 25 April 2016 supplementing Directive 2014/65/EU of the European Parliament and of the Council as regards organisational requirements and
operating conditions for investment firms and defined terms for the purposes of that Directive, as amended from time to time, as it forms part of UK domestic law by virtue of the EUWA, the expression “COBS” means the FCA Handbook -
Conduct of Business Sourcebook, as amended from time to time, the expression “UK MiFIR Product Governance Rules” means the FCA Handbook - Product Intervention and Product Governance Sourcebook, as amended from time to time, the expression
“EUWA” means the European Union (Withdrawal) Act 2018, as amended from time to time, and the expression “manufacturer” means any underwriter that is a manufacturer under UK MiFIR.
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As Of Filer Filing For·On·As Docs:Size Issuer Filing Agent 12/11/20 European Investment Bank S-B 7:1.3M Cravath Swaine & … 01/FA |