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As Of Filer Filing For·On·As Docs:Size Issuer Filing Agent 8/25/22 European Investment Bank FWP 1:18K European Investment Bank Cravath Swaine & … 01/FA |
Document/Exhibit Description Pages Size 1: FWP Free-Writing Prospectus HTML 17K
Free Writing Prospectus
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Filed Pursuant to Rule 433(d)
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Dated 23 August 2022
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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 November 2027
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Coupon:
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3.250% (semi-annual)
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Interest Payment Dates:
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15 May and 15 November of each year, commencing on 15 November 2022 (short first coupon)
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Reoffer:
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99.970%
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Underwriting Discount:
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0.125%
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Yield to Maturity:
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3.257%
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Benchmark:
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UST 5yr 2.750% due 31 July 2027
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Spread to Benchmark:
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+13.73bps
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Benchmark Yield:
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3.120%
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Trade Date:
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23 August 2022
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Settlement(3):
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30 August 2022 (T+5)
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ISIN / CUSIP / Common Code:
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US298785JT41 / 298785JT4 / 252759026
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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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Citigroup / J.P. Morgan / TD Securities
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Use of Proceeds:
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The proceeds of the Notes will be allocated to the EIB’s lending to activities contributing to sustainability objectives in line with evolving EU sustainable finance legislation.
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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 30 August 2022, 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 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 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 eligible counterparties, professional clients and
retail clients, each as defined in MiFID II; and (ii) all channels for distribution of the Notes 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 manufacturers’ 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 manufacturers’ 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 this paragraph, the expression “MiFID II” means Directive 2014/65/EU of the European Parliament and of the Council of May 15, 2014 on markets in financial
instruments and amending Directive 2002/92/EC and Directive 2011/61/EU, as amended from time to time, and the expression “manufacturer” means any underwriter that is a manufacturer under MiFID II.
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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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This ‘FWP’ Filing | Date | Other Filings | ||
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Filed on: | 8/25/22 | |||
12/11/20 | 18-K/A, S-B | |||
5/15/14 | 424B5, FWP | |||
List all Filings |
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 |