Filed pursuant to Rule 433
Registration Statement No. 333-190198
Relating to Preliminary Prospectus Supplement dated
May 20, 2014
FINAL TERMS AND CONDITIONS AS OF MAY 20, 2014 OF
ECOPETROL S.A. 5.875% NOTES DUE 2045
| ISSUER: | Ecopetrol S.A. |
| SECURITY: | 5.875% Notes Due 2045 |
| RANKING: | Senior, unsecured and unsubordinated obligations of the Issuer, rankingpari passu, without any preferences among themselves, with all of its other present and future unsecured and unsubordinated obligations that constitute its External Indebtedness (as defined in the prospectus). |
| PRINCIPAL AMOUNT: | $2,000,000,000 |
| MATURITY: | May 28, 2045 |
| ISSUE PRICE: | 99.336% (plus accrued interest, if any, from May 28, 2014, the expected settlement date) |
| INTEREST PAYMENT DATES: | May 28 and November 28, commencing on November 28, 2014 |
| COUPON RATE: | 5.875% |
| BENCHMARK TREASURY: | UST 3.625% due February 15, 2044 |
| BENCHMARK TREASURY SPOT AND YIELD: | 104-23, 3.372% |
| SPREAD TO BENCHMARK TREASURY: | 255 basis points |
| YIELD: | 5.922% |
| PRICING DATE: | May 20, 2014 |
| MAKE-WHOLE CALL: | 40 basis points |
| EXPECTED SETTLEMENT DATE: | May 28, 2014, T+5 |
| NET PROCEEDS BEFORE EXPENSES: | $1,980,720,000 |
| CUSIP/ISIN: | CUSIP: 279158 AJ8 ISIN: US279158AJ82 |
| CLEARING: | DTC |
| JOINT BOOK-RUNNING MANAGERS: | Goldman, Sachs & Co. Deutsche Bank Securities Inc. |
| MINIMUM DENOMINATION: | $1,000 and integral multiples of $1,000 in excess thereof |
| GOVERNING LAW: | New York |
| FORMAT: | Registered |
| DAY COUNT: | 360/30 |
| OPTIONAL REDEMPTION PROVISIONS: | At any time or from time to time, in whole or in part, at the Issuer’s option at a make-whole premium based on Treasury Rate plus 40 basis points. |
| WITHHOLDING TAX REDEMPTION PROVISIONS: | At any time at the Issuer’s option if the Issuer becomes obligated to pay additional amounts under the Notes, in whole but not in part, at par. |
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, including the Issuer’s current report on Form 6-K filed with the SEC on May 20, 2014 and accessible via the following link http://www.sec.gov/Archives/edgar/data/1444406/000114420414032269/v378928_6k.htm. You may get these documents for free by visiting EDGAR on the SEC Web site at www.sec.gov. Alternatively, the Underwriters can arrange to send you the prospectus if you request it by calling or e-mailing Goldman, Sachs and Co. at 866-471-2526 or prospectus-ny@ny.email.gs.com or Deutsche Bank Securities Inc. at 800-503-4611.
