# EDGAR Filing Document

**Accession Number:** 0000357024
**File Stem:** 0001193125-26-014144
**Filing Date:** 2026-1
**Character Count:** 10688
**Document Hash:** 85b94ec02d97d7adc04edb491f2ad5b4
**Contains OCR:** False
**Source Format:** 

## Filing Content

## Filing Summary
**0001193125-26-014144.hdr.sgml**: 20260115

**ACCESSION NUMBER**: 0001193125-26-014144

**CONFORMED SUBMISSION TYPE**: FWP

**PUBLIC DOCUMENT COUNT**: 1

**FILED AS OF DATE**: 20260115

**DATE AS OF CHANGE**: 20260115

**SUBJECT COMPANY**: 

**COMPANY DATA:**
- **COMPANY CONFORMED NAME:** NORDIC INVESTMENT BANK
- **CENTRAL INDEX KEY:** 0000357024
- **STANDARD INDUSTRIAL CLASSIFICATION:** FOREIGN GOVERNMENTS [8888]
- **ORGANIZATION NAME:** International Corp Fin
- **EIN:** 000000000
- **FISCAL YEAR END:** 1231

**FILING VALUES:**
- **FORM TYPE:** FWP
- **SEC ACT:** 1934 Act
- **SEC FILE NUMBER:** 333-250159
- **FILM NUMBER:** 26536603

**BUSINESS ADDRESS:**
- **STREET 1:** FABIANINKATU 34
- **STREET 2:** PB 249
- **CITY:** HELSINKI FINLAND
- **STATE:** H9
- **ZIP:** 00171
- **BUSINESS PHONE:** 01135810618001

**MAIL ADDRESS:**
- **STREET 1:** 700 19TH ST N W
- **STREET 2:** NORDIC-BALTIC EXEC DIRECTORS OFFICE IMF
- **CITY:** WASHINGTON
- **STATE:** DC
- **ZIP:** 20431
**FILED BY**: 

**COMPANY DATA:**
- **COMPANY CONFORMED NAME:** NORDIC INVESTMENT BANK
- **CENTRAL INDEX KEY:** 0000357024
- **STANDARD INDUSTRIAL CLASSIFICATION:** FOREIGN GOVERNMENTS [8888]
- **ORGANIZATION NAME:** International Corp Fin
- **EIN:** 000000000
- **FISCAL YEAR END:** 1231

**FILING VALUES:**
- **FORM TYPE:** FWP

**BUSINESS ADDRESS:**
- **STREET 1:** FABIANINKATU 34
- **STREET 2:** PB 249
- **CITY:** HELSINKI FINLAND
- **STATE:** H9
- **ZIP:** 00171
- **BUSINESS PHONE:** 01135810618001

**MAIL ADDRESS:**
- **STREET 1:** 700 19TH ST N W
- **STREET 2:** NORDIC-BALTIC EXEC DIRECTORS OFFICE IMF
- **CITY:** WASHINGTON
- **STATE:** DC
- **ZIP:** 20431

FILED PURSUANT TO RULE 433

REGISTRATION STATEMENT NUMBER 333-250159

January 15, 2026

**Nordic Investment Bank** 

**USD 1,000,000,000 3.750 % Global Notes due January 23, 2031 (the "Notes")** 

**Final Term Sheet** 

Final Terms and Conditions as of January 15, 2026

---

| | |
|:---|:---|
| Issuer: | Nordic Investment Bank ("NIB") |
| Anticipated Ratings: | Aaa by Moody's Investor Service<br> AAA by S&P Global Ratings Europe Limited |
| Size: | USD 1,000,000,000 SEC Registered Global |
| Coupon: | 3.750 % per annum, payable on a semi-annual basis |
| Interest Payment Dates: | January 23 and July 23 in each year, starting on July 23, 2026 up to and including the Maturity Date |
| Maturity Date: | January 23, 2031 |
| Settlement Date: | January 23, 2026 |
| Public Offering Price: | 99.810% |
| Benchmark: | US Treasury 3.625 % due December 31, 2030 |
| Spread to Benchmark: | T + 5.8bps |
| Managers: | Citigroup Global Markets Europe AG, BNP PARIBAS, Nomura International plc and J.P. Morgan SE |
| Denominations: | USD 200,000 and integral multiples of USD 1,000 thereafter |
| CUSIP / ISIN: | 65562QC45 / US65562QC458 |

---

The Notes are expected to be listed on the Regulated Market of the Luxembourg Stock Exchange.

The following information of Nordic Investment Bank and regarding the securities is available from the SEC's website and accompanies this free writing prospectus:

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[https://www.sec.gov/Archives/edgar/data/357024/000119312525275649/0001193125-25-275649-index.htm](http://www.sec.gov/Archives/edgar/data/357024/000119312525275649/0001193125-25-275649-index.htm)

[https://www.sec.gov/Archives/edgar/data/357024/000119312525180291/0001193125-25-180291-index.htm](http://www.sec.gov/Archives/edgar/data/357024/000119312525180291/0001193125-25-180291-index.htm)

[https://www.sec.gov/Archives/edgar/data/357024/000119312525101709/0001193125-25-101709-index.htm](http://www.sec.gov/Archives/edgar/data/357024/000119312525101709/0001193125-25-101709-index.htm)

[https://www.sec.gov/Archives/edgar/data/357024/000119312525041115/0001193125-25-041115-index.htm](http://www.sec.gov/Archives/edgar/data/357024/000119312525041115/0001193125-25-041115-index.htm)

[https://www.sec.gov/Archives/edgar/data/357024/000119312524251720/0001193125-24-251720-index.htm](http://www.sec.gov/Archives/edgar/data/357024/000119312524251720/0001193125-24-251720-index.htm)

[https://www.sec.gov/Archives/edgar/data/357024/000119312524200210/0001193125-24-200210-index.htm](http://www.sec.gov/Archives/edgar/data/357024/000119312524200210/0001193125-24-200210-index.htm)

[https://www.sec.gov/Archives/edgar/data/357024/000119312524116411/0001193125-24-116411-index.htm](http://www.sec.gov/Archives/edgar/data/357024/000119312524116411/0001193125-24-116411-index.htm)

[https://www.sec.gov/Archives/edgar/data/357024/000119312524052192/0001193125-24-052192-index.htm](http://www.sec.gov/Archives/edgar/data/357024/000119312524052192/0001193125-24-052192-index.htm)

[https://www.sec.gov/Archives/edgar/data/357024/000119312523267666/d535374d18ka.htm](http://www.sec.gov/Archives/edgar/data/357024/000119312523267666/d535374d18ka.htm)

[https://www.sec.gov/Archives/edgar/data/357024/000119312523220610/d434197d18ka.htm](http://www.sec.gov/Archives/edgar/data/357024/000119312523220610/d434197d18ka.htm)

[https://www.sec.gov/Archives/edgar/data/357024/000119312523124088/d483539d18ka.htm](http://www.sec.gov/Archives/edgar/data/357024/000119312523124088/d483539d18ka.htm)

[https://www.sec.gov/Archives/edgar/data/357024/000119312523052893/d434883d18k.htm](http://www.sec.gov/Archives/edgar/data/357024/000119312523052893/d434883d18k.htm)

[https://www.sec.gov/Archives/edgar/data/357024/000114036122037933/brhc10043142_18ka.htm](http://www.sec.gov/Archives/edgar/data/357024/000114036122037933/brhc10043142_18ka.htm)

[https://www.sec.gov/Archives/edgar/data/357024/000114036122030963/brhc10041156_18ka.htm](http://www.sec.gov/Archives/edgar/data/357024/000114036122030963/brhc10041156_18ka.htm)

[https://www.sec.gov/Archives/edgar/data/357024/000114036122016426/brhc10036767_18ka.htm](http://www.sec.gov/Archives/edgar/data/357024/000114036122016426/brhc10036767_18ka.htm)

[https://www.sec.gov/Archives/edgar/data/357024/000119312522047913/0001193125-22-047913-index.htm](http://www.sec.gov/Archives/edgar/data/357024/000119312522047913/0001193125-22-047913-index.htm)

[https://www.sec.gov/Archives/edgar/data/357024/000119312521161529/0001193125-21-161529-index.htm](http://www.sec.gov/Archives/edgar/data/357024/000119312521161529/0001193125-21-161529-index.htm)

[https://www.sec.gov/Archives/edgar/data/357024/000119312521046275/0001193125-21-046275-index.htm](http://www.sec.gov/Archives/edgar/data/357024/000119312521046275/0001193125-21-046275-index.htm)

[https://www.sec.gov/Archives/edgar/data/357024/000119312520127721/0001193125-20-127721-index.htm](http://www.sec.gov/Archives/edgar/data/357024/000119312520127721/0001193125-20-127721-index.htm)

[https://www.sec.gov/Archives/edgar/data/357024/000119312520049550/0001193125-20-049550-index.htm](http://www.sec.gov/Archives/edgar/data/357024/000119312520049550/0001193125-20-049550-index.htm)

[https://www.sec.gov/Archives/edgar/data/357024/000119312520321327/0001193125-20-321327-index.htm](http://www.sec.gov/Archives/edgar/data/357024/000119312520321327/0001193125-20-321327-index.htm)

[https://www.sec.gov/Archives/edgar/data/357024/000119312520296604/0001193125-20-296604-index.htm](http://www.sec.gov/Archives/edgar/data/357024/000119312520296604/0001193125-20-296604-index.htm)

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The issuer has filed a registration statement (including a prospectus) with the SEC for the offering to which this communication relates. Before you invest, you should read the prospectus in that registration statement and other documents the issuer has filed with the SEC for more complete information about the issuer and this offering. You may get these documents for free by visiting EDGAR on the SEC's Web site at www.sec.gov. Alternatively, the issuer, any underwriter or any dealer participating in the offering will arrange to send you the prospectus if you request it by calling Citigroup Global Markets Europe AG at +1 800-831-9146, BNP PARIBAS at + 1 800-854-5674, Nomura International plc at +1 800-638-2268 and J.P. Morgan SE at +1 866-803-9204.

**MIFID II product governance / eligible counterparties, professional investors and retail investors target market** – 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 Directive 2014/65/EU (as amended or superseded, "MiFID II"); and (ii) all channels for distribution of the Notes to eligible counterparties, professional investors and retail clients are appropriate. Any person subsequently offering, selling or recommending the Notes (a "distributor") should take into consideration the manufacturer's 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.

**UK MiFIR product governance / eligible counterparties, professional investors and retail investors target market** – Solely for the purposes of the 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, as defined in the FCA Handbook Conduct of Business Sourcebook ("COBS"), professional clients, as defined in Regulation (EU) No 600/2014 as it forms part of domestic law by virtue of the European Union (Withdrawal) Act 2018 ("EUWA") ("UK MiFIR"), and retail clients (for these purposes, a retail client means a person who is not a professional client); and (ii) all channels for distribution of the Notes to eligible counterparties, professional investors and retail clients are appropriate. 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 FCA Handbook Product Intervention and Product Governance Sourcebook (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 manufacturer's target market assessment) and determining appropriate distribution channels.

**ANY DISCLAIMERS OR OTHER NOTICES THAT MAY APPEAR AFTER THIS MESSAGE ARE NOT APPLICABLE TO THIS COMMUNICATION AND SHOULD BE DISREGARDED. SUCH DISCLAIMERS OR OTHER NOTICES WERE AUTOMATICALLY GENERATED AS A RESULT OF THIS COMMUNICATION BEING SENT VIA BLOOMBERG OR ANOTHER EMAIL SYSTEM.**