Filed pursuant to Rule 433
Registration Statement No. 333-109215
August 9, 2006
Relating to Preliminary Prospectus Supplement
dated August 9, 2006
Pricing Term Sheet
A preliminary prospectus supplement of the Republic of Colombia accompanies this free-writing prospectus and is available from the SEC’s website athttp://www.sec.gov/Archives/edgar/data/917142/000119312506166772/d424b3.htm
Republic of Colombia
Securities: 12.000% Global TES Bonds due 2015
Registration:Registered with the U.S. SEC
Aggregate Principal Amount:Ps. 716,412,000,000
Representative Market Rate:Ps. 2,388.13/USD on August 9, 2006
Face Amount (U.S. Dollar Equivalent): Approx. USD 300 million
Minimum denomination:Ps. 5,000,000/ Ps. 1,000,000
Gross Proceeds: Approx. USD 347 million (not including accrued interest)
Maturity Date:October 22, 2015
Coupon:12.000%
Interest Payment Date:Annually on October 22
Clearing Yield: 9.35%
Proration: 9.77388%
Public Offering Price:115.789%
Underwriting Discount:50 bps
Net Proceeds (not including accrued interest and before expenses) to the Republic of Colombia:Approx. USD 346 million
Pricing: August 9, 2006
Settlement: August 16, 2006
Bookrunners:Deutsche Bank Securities Inc. and Morgan Stanley & Co. Incorporated
Allocation:
| Face Amount | ||||
Deutsche Bank Securities Inc. | Ps. 358,206,000,000 | |||
Morgan Stanley & Co. Incorporated | Ps. 358,206,000,000 | |||
Total | Ps. 716,412,000,000 |
The issuer has filed a registration statement (including a prospectus) with the 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 Web site atwww.sec.gov. Alternately, the issuer, any underwriter or any dealer participating in the offering will
arrange to send you the prospectus if you request it by calling toll-free 1-800-503-4611 or 1-866-718-1649 / 1-800-503-4611 or collect 1-212-761-4000.
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