Filed pursuant to Rule 433
Registration Statement No. 333-181500
Relating to Preliminary Prospectus Supplement
dated September 3, 2014
FEDERATIVE REPUBLIC OF BRAZIL - FINAL PRICING TERMS
| Issuer | Federative Republic of Brazil | |
| Transaction | 4.25% Global Bonds due 2025 | |
| Ratings* | Baa2/BBB-/BBB (Moody’s/S&P/Fitch) | |
| Distribution | SEC Registered | |
| Amount Issued | U.S.$50,000,000.00 (brings total size to U.S.$4,300,000,000.00) | |
| Gross Proceeds | U.S.$51,525,000.00 (not including accrued interest) | |
| Coupon | 4.25% per annum, 30/360-day count basis, payable semi annually | |
| Maturity | January 7, 2025 | |
| Offering Price | 103.050% of the principal amount plus accrued interest totalling U.S.$371,875.00, or U.S.$7.44 per U.S.$1,000.00 principal amount of global bonds, from July 7, 2014, but not including September 10, 2014. | |
| Yield to Maturity | 3.888% per annum | |
| Reference Benchmark Bond | UST 2.375% due August 15, 2024 | |
| Benchmark Yield | 2.418% | |
| Reoffer Spread | +147 bps | |
| Underwriting Fee | 0.225% | |
| Interest Payment Dates | January 7 and July 7 of each year | |
| First Interest Payment Date | January 7, 2015 | |
| 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 | September 4, 2014 (Hong Kong time) | |
| Settlement Date | September 10, 2014 (T+4) | |
| CUSIP / ISIN | 105756BV1 / US105756BV13 | |
| Denominations | U.S.$200,000 and integral multiples of U.S.$1,000 in excess thereof | |
| Listing | Euro MTF Market Luxembourg | |
| Joint Bookrunners | Banco BTG Pactual S.A. - Cayman Branch** Citigroup Global Markets Inc. Morgan Stanley & Co. LLC | |
| Underwriting Commitments | Banco BTG Pactual S.A. - Cayman Branch**: Citigroup Global Markets Inc.: Morgan Stanley & Co. LLC: | U.S.$16,666,000.00 U.S.$16,667,000.00 U.S.$16,667,000.00 | ||
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/205317/000119312514329889/d784893d424b5.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 atwww.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 from your sales representative at Banco BTG Pactual S.A. - Cayman Branch, calling collect at 1-212-293-4618, or at Citigroup Global Markets Inc., calling toll-free 1-800-831-9146 or at Morgan Stanley & Co. LLC, calling toll-free 1-866-718-1649.
| * | A securities rating is not a recommendation to buy, sell or hold securities and may be subject to revision or withdrawal at any time. |
| ** | Banco BTG Pactual S.A. – Cayman Branch is not a broker-dealer registered with the SEC and therefore may not make sales of any global bonds in the United States or to U.S. persons except in compliance with applicable U.S. laws and regulations. To the extent that Banco BTG Pactual S.A. – Cayman Branch intends to effect sales of the global bonds in the United States, it will do so only through BTG Pactual US Capital, LLC, its selling agents, or one or more U.S. registered broker-dealers or otherwise as permitted by applicable U.S. law. |
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