Filed pursuant to Rule 433

Registration Statement No. 333-142116

January 7, 2009

Relating to Preliminary Prospectus Supplement

dated January 6, 2009

FEDERATIVE REPUBLIC OF BRAZIL—FINAL PRICING TERMS

Issuer	Federative Republic of Brazil
Transaction	5.875% Global Bonds due 2019
Ratings	Ba1/BBB-/BBB- (Stable / Stable / Stable)
Distribution	SEC Registered
Amount Issued	US$1,000,000,000; Brazil reserves the right to increase the aggregate principal amount of the global bonds being offered by up to US$25,000,000, during Asian market hours on January 7, 2009
Gross Proceeds	US$981,350,000 (not including accrued interest if any)
Coupon	5.875% 30/360-day count basis
Maturity	January 15, 2019
Offering Price	98.135%
Yield to Maturity	6.127%
Reference Benchmark Bond	UST 3.750% due November 15, 2018
Benchmark Yield	2.427%
Reoffer Spread	370 bps
Underwriting Fee	0.25%
Denominations (Min /Increment)	US$100,000/US$1,000
Interest Pay Dates	January 15 and July 15
First Interest Payment Date	July 15, 2009
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 50 basis points plus accrued interest on the principal amount of the global bonds to the date of redemption.
Pricing Date	January 6, 2009
Settlement Date	January 13, 2009 (T+5)
Listing	Euro MTF Market Luxembourg
CUSIP / ISIN	105756BQ2 / US105756BQ28
Bookrunners	Goldman, Sachs & Co. Merrill Lynch, Pierce, Fenner & Smith Incorporated
Co-Manager	BB Securities Ltd.
Underwriting Commitments	Goldman, Sachs & Co.: US$495,000,000 Merrill Lynch, Pierce, Fenner & Smith Incorporated: US$495,000,000 BB Securities Ltd.: US$10,000,000

A preliminary prospectus supplement of Brazil accompanies the free-writing prospectus and is available from the SEC’s website at: http://idea.sec.gov/Archives/edgar/data/205317/000119312509001764/d424b5.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 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 from Goldman, Sachs & Co. Prospectus Department at 212-902-1171, or from Merrill Lynch, Pierce, Fenner & Smith Incorporated at toll-free 1-866 500 5408.

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