September 11, 2013
Filed pursuant to Rule 433
Registration Statement No. 333-186853
FMS Wertmanagement
Pricing Term Sheet
U.S.$1,500,000,000 1.125% Notes due October 14, 2016
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.$1,500,000,000 | |
Pricing: | September 11, 2013 | |
Settlement: | September 18, 2013 (T + 5) | |
Maturity: | October 14, 2016 | |
Interest Payment Dates: | April 14 and October 14, with the Notes bearing interest from September 18, 2013, with the initial interest payment being made on April 14, 2014 | |
Coupon: | 1.125% per annum, payable semi-annually in arrears, 30/360 unadjusted following | |
Reoffer Spread vs Midswaps: | MS + 10bps | |
Reoffer Spread vs Benchmark: | UST + 26bps | |
| 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 23, 2012. |
Reoffer Price: | 99.897% | |
Reoffer Yield: | 1.159% | |
Underwriting Commissions: | 0.100% | |
All-in Price: | 99.797% | |
All-in Yield: | 1.192% | |
Net Proceeds to the Issuer: | U.S.$1,496,955,000 | |
Settlement: | DTC (deliverable through Euroclear and Clearstream) | |
Benchmark: | UST 0.875% due September 15, 2016 | |
Benchmark Yield: | 0.899% | |
Denominations: | U.S.$200,000and integral multiples of U.S.$1,000 in excess thereof | |
Joint-Leads: | Barclays Capital Inc. BNP Paribas Goldman Sachs International Morgan Stanley & Co. International plc | |
Senior Co-Lead: | Bank of Montreal, London Branch | |
Business Days: | New York | |
Listing: | Expected on Luxembourg Stock Exchange | |
ISIN / CUSIP: | US30254WAC38 / 30254W AC3 | |
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 registration statement including the preliminary prospectus may also be accessed through the hyperlinkhttp://www.sec.gov/Archives/edgar/data/1556421/000119312513074073/d488347dsb.htm, and the preliminary prospectus supplement may be accessed through the hyperlinkhttp://www.sec.gov/Archives/edgar/data/1556421/000119312513362517/d592650d424b5.htm. Information found through hyperlinks from the above hyperlink is not part of this pricing term sheet.