November 14, 2012
Filed pursuant to Rule 433
Registration Statement No. 333-184318
FMS Wertmanagement
Pricing Term Sheet
U.S.$2,000,000,000 1.00% Notes due November 21, 2017
| Issuer: | FMS Wertmanagement | |
| Issuer Ratings1: | AAA by Standard & Poor’s, Aaa by Moody’s Investors Service2 and AAA by Fitch Ratings. | |
| Status of the Notes: | Senior, unsecured, unsubordinated | |
| Currency/Size: | U.S.$2,000,000,000 | |
| Pricing: | November 14, 2012 | |
| Settlement: | November 21, 2012 | |
| Maturity: | November 21, 2017 | |
| Interest Payment Dates: | May 21 and November 21, with the Notes bearing interest from November 21, 2012, with the initial interest payment being made on May 21, 2013 | |
| Coupon: | 1.00% paid semi-annually in arrears, 30/360 unadjusted following | |
| Reoffer Spread vs Midswaps: | m/s + 24 bps | |
| Reoffer Spread vs Benchmark: | T + 37.1 bps | |
| Reoffer Price: | 99.981% | |
| 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. |
| 2 | Outlook changed to “negative” on July 25, 2012. |
| Reoffer Yield: | 1.004% | |
| Underwriting Commissions: | 0.125% | |
| All-in Price: | 99.856% | |
| All-in Yield: | 1.030% | |
| Net Proceeds to the Issuer: | U.S.$1,997,120,000 | |
| Settlement: | DTC | |
| Benchmark: | UST 0.750% due 2017 | |
| Benchmark Yield: | 0.633% | |
| Denominations: | U.S.$200,000 and integral multiples of U.S.$1,000 in excess thereof | |
| Leads: | Citigroup Global Markets Inc. Deutsche Bank AG, London Branch Goldman Sachs International HSBC Bank plc | |
| Business Days: | New York | |
| Listing: | Expected on Luxembourg Stock Exchange | |
| ISIN / CUSIP: | US30254WAA71 / 30254W AA7 | |
| Common Code: | 085699105 | |
| Governing Law: | New York law | |
The issuer has filed a registration statement (including a preliminary prospectus, which contains information that is not complete and may be changed) with the SEC for the offering to which this communication relates. Before you invest, you should read the preliminary 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 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 +1-866-471-2526. The prospectus may also be accessed through the following hyperlink:http://www.sec.gov/Archives/edgar/data/1556421/000119312512456642/d408147dsba.htm. Information found through hyperlinks from the above hyperlink is not part of this pricing term sheet.
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