Filed pursuant to Rule 433
June 7, 2011
Relating to
Preliminary Prospectus Supplement dated June 7, 2011 to
Registration Statement No. 333-173450
THE STATE TREASURY OF THE REPUBLIC OF POLAND
Represented by the Minister of Finance
Pricing Term Sheet
Issuer: | The State Treasury of the Republic of Poland Represented by the Minister of Finance | |
Transaction: | Re-opening of the Issuer’s 5.125% Notes due 2021 | |
Single Series: | The Notes as from their issue date will be fully fungible and consolidated to form a single series, with the existing U.S.$1,000,000,000 5.125% Notes due 2021 | |
Principal Amount: | U.S.$1,000,000,000 | |
Maturity Date: | April 21, 2021 | |
Coupon: | 5.125% | |
Price to Public: | 103.211% plus Accrued Interest | |
Accrued Interest: | 53 days = U.S.$7,545,139 | |
Underwriting Discount: | 0.150% | |
Proceeds to Issuer: | U.S.$1,030,610,000 plus Accrued Interest | |
Yield to Maturity: | 4.713% | |
Spread to Benchmark Treasury: | +170 basis points | |
Spread to US 10 Year Swap: | +157.6 basis points | |
Benchmark Treasury: | UST 3.125% due May 15, 2021 | |
Benchmark Treasury Yield: | 3.013% | |
US 10 Year Swap Yield: | 3.137% | |
Interest Payment Dates: | April 21 and October 21, commencing October 21, 2011 | |
Pricing Date: | June 7, 2011 | |
Settlement Date (T+5): | June 14, 2011 | |
CUSIP / ISIN: | 857524 AA0 / US857524AA08 | |
Denominations: | U.S.$1,000 and integral multiples thereof | |
Day Count: | 360-day year of twelve 30-day months | |
Joint Bookrunners: | Citi, Goldman Sachs International and RBS | |
Ratings of the Republic of Poland: | A2 (Moody’s) / A- (S&P) / A- (Fitch) |
Note:A securities rating is not a recommendation to buy, sell or hold securities and may be subject to revision or withdrawal at any time.
The issuer has filed a registration statement (including a prospectus) with the U.S. Securities and Exchange Commission (“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. You may get these documents for free by visiting EDGAR on the SEC website 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 Citigroup Global Markets Inc. at +1 877 858 5407, Goldman Sachs International at +1 866 471 2526 or RBS Securities Inc. at +1 866 884 2071.