Filed pursuant to Rule 433
October 27, 2011
Relating to
Preliminary Prospectus Supplement dated October 27, 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 | ||
| Principal Amount: | U.S.$2,000,000,000 | |
| Maturity Date: | March 23, 2022 | |
| Coupon: | 5.000% | |
| Price to Public: | 98.605% | |
| Underwriting Discount: | 0.130% | |
| Proceeds to Issuer: | U.S.$1,969,500,000 | |
| Yield to Maturity: | 5.176% | |
| Spread to Benchmark Treasury: | +280.0 basis points | |
| Spread to US 10 Year Swap: | +259.3 basis points | |
| Benchmark Treasury: | UST 2.125% due August 15, 2021 | |
| Benchmark Treasury Yield: | 2.376% | |
| Interpolated US Swap Yield: | 2.583% | |
| Interest Payment Dates: | March 23 and September 23, commencing March 23, 2012 | |
| Pricing Date: | October 27, 2011 | |
| Settlement Date (T+5): | November 3, 2011 | |
| CUSIP / ISIN: | 857524AB8 / US857524AB80 | |
| Denominations: | U.S.$1,000 and integral multiples thereof | |
| Day Count: | 360-day year of twelve 30-day months | |
| Joint Bookrunners: | Citigroup, Deutsche Bank Securities and HSBC | |
| 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, Deutsche Bank Securities Inc. at +1 800 503 4611 or HSBC Bank plc. at +44 207 991 1422.