Filed pursuant to Rule 433
Registration StatementNo. 333-220694
Relating to Preliminary Prospectus Supplement dated January 21, 2020
Republic of Colombia
Preliminary Term Sheet
U.S. $1,542,968,000 3.000% Global Bonds due 2030*
| Issuer: | Republic of Colombia (“Republic”) | |
| Transaction: | 3.000% Global Bonds due 2030 (“2030 Global Bonds”) | |
| Expected Issue Ratings**: | Baa2 / BBB-/ BBB (Moody’s, stable / S&P, stable / Fitch, negative) | |
| Format: | SEC Registered | |
| Principal Amount: | U.S. $1,542,968,000 | |
| Pricing Date: | January 21, 2020 | |
| Settlement Date: | January 30, 2020 (T+7) | |
| Make-Whole Call: | Prior to October 30, 2029 at a discount rate of Treasury Yield plus 20 basis points | |
| Par Call: | On and after October 30, 2029 (three months before the maturity date) redeemable at 100.000% | |
| Maturity Date: | January 30, 2030 | |
| Interest Payment Dates: | January 30 and July 30 of each year, commencing July 30, 2020, to the holders of record on January 15 and July 15 preceding each payment date | |
| Benchmark Treasury: | 1.750% UST due November 15, 2029 | |
| Benchmark Treasury Price and Yield: | 99-24 and 1.778% | |
| Spread to Benchmark Treasury: | +135 bps | |
| Yield to Maturity: | 3.128% | |
| Coupon: | 3.000% | |
| Price to Public: | 98.908% not including accrued interest | |
| Gross Proceeds (before underwriting discount and expenses) to Issuer***: | U.S. $1,526,118,789 plus accrued interest, if any, from January 30, 2020 | |
| Day Count: | 30/360 | |
| Denominations: | U.S. $200,000 and increments of U.S. $1,000 in excess thereof | |
| Listing and Trading: | Application will be made to list the 2030 Global Bonds on the official list of the Luxembourg Stock Exchange and to trade on the Euro MTF Market. | |
| Joint Book-Running Managers: | BBVA Securities Inc. Goldman Sachs & Co. LLC Scotia Capital (USA) Inc. | |
| Preliminary Prospectus Supplement: | https://www.sec.gov/Archives/edgar/data/917142/000119312520010642/d874002d424b3.htm | |
| Clearing: | DTC and its participants, including the depositaries for Euroclear Bank S.A./N.V. as operator of the Euroclear System plc, and Clearstream Banking,société anonyme. | |
| CUSIP/ISIN: | 195325 DR3/US195325DR36 |
| * | Note: The aggregate principal amount of 2030 Global Bonds includes an amount intended to fund the purchase of outstanding Preferred Tenders andNon-Preferred Tenders (as such terms are defined in the Offer to Purchase, dated January 21, 2020 of the Republic) in the concurrent tender offer pursuant to the Offer to Purchase, based on final acceptances in the tender offer. The Republic will announce the amount of Preferred Tenders andNon-Preferred Tenders that it is accepting on January 22, 2020. |
| ** | Note: A securities rating is not a recommendation to buy, sell or hold securities and may be subject to suspension, reduction, revision or withdrawal at any time. |
| *** | Note: The total gross proceeds amount may be adjusted in proportion to the adjustment, if any, to be made to the aggregate amount of 2030 Global Bonds. |
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 Web site of the Securities and Exchange Commission 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 BBVA Securities Inc. toll-free at +1 (800)422-8692, Goldman Sachs & Co. LLC toll-free at +1-866-471-2526 or Scotia Capital (USA) Inc. toll-free at+1-800-372-3930.
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