Filed pursuant to Rule 433
Registration Statement No. 333-142116
November 7, 2011
Relating to Preliminary Prospectus Supplement
dated November 4, 2011
FEDERATIVE REPUBLIC OF BRAZIL – FINAL PRICING TERMS
| Issuer | Federative Republic of Brazil | |
| Transaction | Re-opening of 5.625% Global Bonds due 2041 | |
| Ratings* | Baa2 /BBB-/BBB (Positive / Positive / Stable) | |
| Distribution | SEC Registered | |
| Amount Issued | US$100,000,000 (brings total size to US$2,925,000,000) | |
| Gross Proceeds | US$114,700,000 (not including accrued interest) | |
| Coupon | 5. 625% 30/360-day count basis | |
| Maturity | January 7, 2041 | |
| Offering Price | 114.700% (plus accrued interest, totalling US$19.22 per USD $1,000 principal amount of global bonds from July 7, 2011 to, but not including November 10, 2011) | |
| Yield to Maturity | 4.694% | |
| Reference Benchmark Bond | UST 4.375% due May 15, 2041 | |
| Benchmark Yield | 3.106% | |
| Reoffer Spread | +158.8 bps | |
| Underwriting Fee | 0.25% | |
| Denominations | US$100,000/US$1,000 | |
| Interest Payment Dates | January 7 and July 7 | |
| First Interest Payment Date | January 7, 2012 | |
| Optional Redemption | The global bonds may be redeemed at the option of Brazil in whole or in part by paying a redemption price equal to the principal amount of the global bonds plus a Make-Whole Amount at the Treasury Rate plus 25 basis points plus accrued interest on the principal amount of the global bonds to the date of redemption. | |
| Pricing Date | November 7, 2011 | |
| Settlement Date | November 10, 2011 (T+3) | |
| CUSIP / ISIN / Common Code | 105756BR0/US105756BR01/045656004 | |
| Listing | Euro MTF Market Luxembourg | |
| Bookrunners | Barclays Capital Inc. Merrill Lynch, Pierce, Fenner & Smith Incorporated | |
| Co-Manager | BB Securities Ltd. | |
| Underwriting Commitments | Barclays Capital Inc.: US$49,500,000 Merrill Lynch, Pierce, Fenner & Smith Incorporated: US$49,500,000 BB Securities: US$1,000,000 | |
A preliminary prospectus supplement of Brazil accompanies the free-writing prospectus and is available from the SEC’s website at:
http://www.sec.gov/Archives/edgar/data/205317/000119312511296503/d248569d424b5.htm
The issuer has filed a registration statement (including a prospectus) with the Securities and Exchange Commission 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 Securities and Exchange Commission 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 Barclays Capital Inc. toll-free at 1-888-603-5847 or Merrill Lynch, Pierce, Fenner & Smith Incorporated toll-free at 1-800-294-1322.
* A securities rating is not a recommendation to buy, sell or hold securities and may be subject to revision or withdrawal at any time.
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