The European Investment Bank today priced its first EUR benchmark Euro Area Reference Note (EARN) of 2013.

First EARN benchmark through mid-swaps since 2008

On Tuesday 18th September 2012, the European Investment Bank priced it’s third new Euro Area Reference Note (EARN) of 2012, and the first 10-year benchmark maturity EARN since September 2011, providing a new liquid point on the EIB EARN curve.

[5] Various indicators of profitability are EBITDA (Earnings Before Interest, Taxes, Depreciation and Amortisation), free cash flow to equity, underlying net income.

13 (1) For the purpose of calculating an earnings factor with a view to determining the right to benefits under United Kingdom legislation, subject to paragraph 15, each week during which an employed or self-employed person has been subject to the legislation of another Member State and which commenced during the relevant income tax year within the meaning of United Kingdom legislation shall be taken into account in the following way: (a) (i) for each week of insurance, employment, or residence as an employed person the person concerned shall be deemed to have paid contributions as an employed earner on the basis of earnings equivalent t ...[+++]o two-thirds of that year's upper earnings limit;

"17 (1) For the purpose of calculating an earnings factor with a view to determining the right to benefits under United Kingdom legislation, each week during which a worker has been subject to the legislation of another Member State and which commenced during the relevant income tax year within the meaning of United Kingdom legislation shall be taken into account in the following way: (a) for each week of insurance, employment or residence as a worker, the person concerned shall be deemed to have paid contributions as an employed earner on the basis of earnings equivalent to two-thirds of that year's upper earnings limit;