Obligation Mexico 4.5% ( US91087BAF76 ) en USD

Mexico

100 % ▲

Mexique

US91087BAF76 ( en USD )

4.5% par an ( paiement semestriel )

21/04/2029

Prospectus brochure de l'obligation Mexico US91087BAF76 en USD 4.5%, échéance 21/04/2029

200 000 USD

3 455 664 000 USD

91087BAF7

22/10/2025 ( Dans 177 jours )

Le Mexique, pays d'Amérique du Nord, possède une riche histoire précolombienne, une culture vibrante mêlant influences indigènes et européennes, et une grande diversité géographique allant de déserts arides à des forêts tropicales luxuriantes.

L'Obligation émise par Mexico ( Mexique ) , en USD, avec le code ISIN US91087BAF76, paye un coupon de 4.5% par an.
Le paiement des coupons est semestriel et la maturité de l'Obligation est le 21/04/2029

Prospectus Supplement dated August 8, 2019
To Prospectus dated January 24, 2019

United Mexican States

U.S.$1,455,664,000 4.500% Global Notes due 2029
U.S.$2,103,527,000 4.500% Global Notes due 2050

The 4.500% Global Notes due 2029 (the "2029 notes") will mature on April 22, 2029. The 4.500% Global Notes due 2050
(the "2050 notes") will mature on January 31, 2050. We refer to the 2029 notes and the 2050 notes collectively as the "notes."
Mexico will pay interest on the 2029 notes on April 22 and October 22 of each year, commencing October 22, 2019. Mexico
will pay interest on the 2050 notes on January 31 and July 31 of each year, commencing January 31, 2020. Mexico may
redeem the notes, in whole or in part, before maturity, on the terms described herein. The notes will not be entitled to the
benefit of any sinking fund. The offering of the 2029 notes and the offering of the 2050 notes, each pursuant to this prospectus
supplement, are not contingent upon one another.
The 2029 notes were consolidated and form a single series with, and are fungible with, the outstanding U.S.$2,000,000,000
4.500% Global Notes due 2029 (CUSIP: 91087B AF7, ISIN US91087BAF76) previously issued by Mexico.
The notes were issued under an indenture, and each of the 2029 notes and the 2050 notes constitutes a separate series
under the indenture. The indenture contains provisions regarding future modifications to the terms of the notes that differ from
those applicable to Mexico's outstanding public external indebtedness issued prior to November 10, 2014. Under these
provisions, which are described beginning on page 17 of the accompanying prospectus dated January 24, 2019, Mexico may
amend the payment provisions of the notes and other reserved matters listed in the indenture with the consent of the holders of:
(1) with respect to a single series of notes, more than 75% of the aggregate principal amount of the outstanding notes of such
series; (2) with respect to two or more series of notes, if certain "uniformly applicable" requirements are met, more than 75%
of the aggregate principal amount of the outstanding notes of all series affected by the proposed modification, taken in the
aggregate; or (3) with respect to two or more series of notes, more than 66 2/3% of the aggregate principal amount of the
outstanding notes of all series affected by the proposed modification, taken in the aggregate, and more than 50% of the
aggregate principal amount of the outstanding notes of each series affected by the proposed modification, taken individually.
The outstanding 2029 notes have been listed on the Luxembourg Stock Exchange. Application has been made for the new
2029 notes and the 2050 notes to be admitted to listing on the Luxembourg Stock Exchange and admitted to trading on the
Euro MTF Market of the Luxembourg Stock Exchange.
Section 309B(1)(c) of the Securities and Futures Act (Chapter 289 of Singapore) Notification
The notes are prescribed capital markets products (as defined in the Securities and Futures (Capital Markets Products)
Regulations 2018).
Neither the Securities and Exchange Commission ("SEC") nor any other regulatory body has approved or
disapproved of these securities or determined whether this prospectus supplement or the related prospectus is truthful
or complete. Any representation to the contrary is a criminal offense.
The notes have not been and will not be registered with the National Securities Registry maintained by the Mexican
National Banking and Securities Commission ("CNBV"), and therefore may not be offered or sold publicly in Mexico.
The notes may be offered or sold to qualified and institutional investors in Mexico, pursuant to the private placement
exemption set forth under Article 8 of the Mexican Securities Market Law. As required under the Mexican Securities
Market Law, Mexico will give notice to the CNBV of the offering of the notes under the terms set forth herein. Such
notice will be submitted to the CNBV to comply with the Mexican Securities Market Law, and for informational
purposes only. The delivery to, and receipt by, the CNBV of such notice does not certify the solvency of Mexico, the
investment quality of the notes, or that the information contained in this prospectus supplement or the prospectus is
accurate or complete. Mexico has prepared this prospectus supplement and is solely responsible for its content, and the
CNBV has not reviewed or authorized such content.

Proceeds to Mexico,
Price to Public(1)
Underwriting Discounts
before expenses(1)
Per 2029 note
106.162%
0.170%
105.992%
Total for the 2029 notes
U.S.$1,545,362,015.68
U.S.$2,474,628.80
U.S.$1,542,887,386.88
Per 2050 note
99.147%
0.190%
98.957%
Total for the 2050 notes
U.S.$2,085,583,914.69
U.S.$3,996,701.30
U.S.$2,081,587,213.39
(1) Plus accrued interest for the 2029 notes totaling U.S.$17,831,884.00, from April 22, 2019 to, but not including July 31, 2019, the date
Mexico delivered the notes offered by this prospectus supplement and for the 2050 notes, any additional interest to July 31, 2019.
The notes were delivered in book-entry form only through the facilities of The Depository Trust Company ("DTC"), the
Euroclear System ("Euroclear") and Clearstream Banking, société anonyme, Luxembourg ("Clearstream, Luxembourg")
against payment on July 31, 2019.

Joint Bookrunners
BBVA
Credit Suisse
Goldman Sachs & Co. LLC
____________________
August 8, 2019

This prospectus supplement and the attached prospectus dated January 24, 2019 shall constitute a prospectus for the purpose of
Part IV of the Luxembourg Law on Prospectuses for Securities dated July 16, 2019.

TABLE OF CONTENTS

Prospectus Supplement
Prospectus
About this Prospectus ........................................ 1
About this Prospectus Supplement ................ S-2
Forward-Looking Statements ............................ 1
Forward-Looking Statements ......................... S-4
Data Dissemination ............................................ 2
Use of Proceeds.............................................. S-5
Use of Proceeds ................................................. 2
Risk Factors ................................................... S-6
Risk Factors ....................................................... 3
Summary ........................................................ S-7
Description of the Securities .............................. 6
Description of the Notes .............................. S-13
Taxation ........................................................... 26
Recent Developments .................................. S-16
Plan of Distribution ......................................... 33
Taxation ....................................................... S-34
Official Statements .......................................... 41
Plan of Distribution (Conflicts of Interest) .. S-35
Validity of the Securities ................................. 43
Authorized Representative............................... 44
Where You Can Find More Information ......... 44
Glossary ........................................................... 46

____________________
Mexico is a foreign sovereign state. Consequently, it may be difficult for investors to obtain
or realize upon judgments of courts in the United States against Mexico. See "Risk Factors" in the
accompanying prospectus.
S-1

ABOUT THIS PROSPECTUS SUPPLEMENT

This prospectus supplement supplements the accompanying prospectus dated January 24, 2019,
relating to Mexico's debt securities and warrants. If the information in this prospectus supplement differs
from the information contained in the prospectus, you should rely on the information in this prospectus
supplement.
You should read this prospectus supplement along with the accompanying prospectus. Both
documents contain information you should consider when making your investment decision. Mexico is
responsible for the information contained and incorporated by reference in this prospectus and in any
related free-writing prospectus or prospectus supplement that Mexico prepares or authorizes. Mexico has
not authorized anyone else to provide you with any other information and takes no responsibility for any
other information that others may give you. Mexico and the underwriters are offering to sell the notes
and seeking offers to buy the notes only in jurisdictions where it is lawful to do so. The information
contained in this prospectus supplement and the accompanying prospectus is current only as of the dates
of this prospectus supplement and the accompanying prospectus, respectively.
Mexico is furnishing this prospectus supplement and the accompanying prospectus solely for use
by prospective investors in connection with their consideration of a purchase of the notes. Mexico
confirms that:
the information contained in this prospectus supplement and the accompanying prospectus is
true and correct in all material respects and is not misleading;
it has not omitted other facts the omission of which makes this prospectus supplement and the
accompanying prospectus as a whole misleading; and
it accepts responsibility for the information it has provided in this prospectus supplement and
the accompanying prospectus.
This prospectus supplement does not constitute an offer to sell or the solicitation of an offer to
buy any notes in any jurisdiction to any person to whom it is unlawful to make the offer or solicitation in
such jurisdiction. The distribution of this prospectus supplement and the offer or sale of notes may be
restricted by law in certain jurisdictions. Mexico and the underwriters do not represent that this
prospectus supplement may be lawfully distributed, or that any notes may be lawfully offered, in
compliance with any applicable registration or other requirements in any such jurisdiction, or pursuant to
an exemption available thereunder, or assume any responsibility for facilitating any such distribution or
offering. In particular, no action has been taken by Mexico or the underwriters which would permit a
public offering of the notes or distribution of this prospectus supplement in any jurisdiction where action
for that purpose is required. Accordingly, no notes may be offered or sold, directly or indirectly, and
neither this prospectus supplement nor any offering material may be distributed or published in any
jurisdiction, except under circumstances that will result in compliance with any applicable laws and
regulations and the underwriters have represented that all offers and sales by them will be made on the
same terms. Persons into whose possession this prospectus supplement comes are required by Mexico
and the underwriters to inform themselves about and to observe any such restriction. In particular, there
are restrictions on the distribution of this prospectus supplement and the offer or sale of notes in Belgium,
Canada, Chile, Colombia, the European Economic Area, France, Germany, Hong Kong, Italy, Japan,
Luxembourg, Mexico, the Netherlands, Peru, Singapore, Spain, Switzerland, the United Kingdom and
Uruguay, see the section entitled "Plan of Distribution" in this prospectus supplement and in the
accompanying prospectus.
S-2

PROHIBITION OF SALES TO EEA RETAIL INVESTORS The notes are not intended to
be offered, sold or otherwise made available to and should not be offered, sold or otherwise made
available to any retail investor in the European Economic Area ("EEA"). For these purposes, a retail
investor means a person who is one (or more) of: (i) a retail client as defined in point (11) of Article 4(1)
of Directive 2014/65/EU (as amended, "MiFID II"); or (ii) a customer within the meaning of Directive
2002/92/EC (as amended, the "Insurance Mediation Directive"), where that customer would not qualify
as a professional client as defined in point (10) of Article 4(1) of MiFID II. Consequently no key
information document required by Regulation (EU) No 1286/2014 (the "PRIIPs Regulation") for offering
or selling the notes or otherwise making them available to retail investors in the EEA has been prepared
and therefore offering or selling the notes or otherwise making them available to any retail investor in the
EEA may be unlawful under the PRIIPS Regulation.
The prospectus supplement is only being distributed to and is only directed at (i) persons who are
outside the United Kingdom or (ii) investment professionals falling within Article 19(5) of the Financial
Services and Markets Act 2000 (Financial Promotion) Order 2005, as amended (the "Order") or (iii) high
net worth companies, and other persons to whom it may lawfully be communicated, falling within Article
49(2)(a) to (d) of the Order (all such persons together being referred to as "relevant persons"). The notes
are only available to, and any invitation, offer or agreement to subscribe, purchase or otherwise acquire
such notes will be engaged in only with, relevant persons. Any person who is not a relevant person should
not act or rely on this document or any of its contents.
S-3

FORWARD-LOOKING STATEMENTS

This prospectus supplement may contain forward-looking statements. Statements that are not
historical facts, including statements about Mexico's beliefs and expectations, are forward-
looking statements. These statements are based on current plans, estimates and projections, and therefore
you should not place undue reliance on them. Forward-looking statements speak only as of the date they
are made, and Mexico undertakes no obligation to update publicly any of them in light of new
information or future events. Forward-looking statements involve inherent risks and uncertainties. Mexico
cautions you that a number of important factors could cause actual results to differ materially from those
contained in any forward-looking statement. Such factors include, but are not limited to:

· Adverse external factors, such as high international interest rates, low oil prices and recession or low
growth in Mexico's trading partners. High international interest rates could increase Mexico's

expenditures, low oil prices could decrease the Mexican Government's revenues and recession or
low growth in Mexico's main trading partners could lead to fewer exports. A combination of these
factors could negatively affect Mexico's current account.
· Instability or volatility in the international financial markets. This could lead to domestic volatility,

making it more complicated for the Mexican Government to achieve its macroeconomic goals. This
could also lead to declines in foreign investment inflows, portfolio investment in particular.
· Adverse domestic factors, such as domestic inflation, high domestic interest rates, exchange rate

volatility and political uncertainty. Each of these could lead to lower growth in Mexico, declines in
foreign direct and portfolio investment and potentially lower international reserves.

S-4

USE OF PROCEEDS
The net proceeds to Mexico from the sale of the notes were approximately
U.S.$3,624,224,600.27, after the deduction of the underwriting discount and Mexico's share of the
expenses in connection with the sale of the notes, which are estimated to be approximately
U.S.$250,000.00. Mexico intends to use the net proceeds of the sale of the notes, (i) in part, for
refinancing, repurchase or retirement of domestic and/or external indebtedness of Mexico from time to
time, including to pay the purchase price for certain outstanding notes of Mexico, which Mexico may
purchase pursuant to a tender offer (the "Tender Offer"), on the terms and subject to the conditions set
forth in the offer to purchase, dated July 23, 2019 (the "Offer to Purchase"), (ii) in part, to redeem in full
its outstanding 3.500% Global Notes due 2021 (the "2021 notes") and, (iii) in part, for the general
purposes of the Government of Mexico. The underwriters of this offering acted as joint dealer managers
for the Tender Offer. None of the underwriters shall have any responsibility for the application of the net
proceeds of the notes. The outstanding principal amount of the 2021 notes, which are scheduled to mature
in January 2021, is approximately U.S.$932,584,000.00, and Mexico gave a notice of redemption
pursuant to the provisions of the 2021 notes promptly following the pricing of the offering of the notes.

S-5

RISK FACTORS
The following risk factor supplements the information contained under "Risk Factors" in the
accompanying prospectus. You should consult your financial and legal advisors about the risks of
investing in the debt securities and the suitability of your investment in light of your particular situation.
Mexico disclaims any responsibility for advising you on these matters.
There can be no assurances that Mexico's credit ratings will improve or remain stable, or that
they will not be downgraded, suspended or cancelled by the rating agencies.
Mexico's long-term public external indebtedness is currently rated investment grade by the three
leading rating agencies. Fitch had a negative outlook since October 2018 and downgraded Mexico's debt
rating on June 5, 2019. In addition, on June 5, 2019 Moody's changed its outlook from stable to negative.
S&P has had a negative outlook since March 1, 2019.
Ratings address the creditworthiness of Mexico and the likelihood of timely payment of Mexico's
long-term debt securities. Ratings are not a recommendation to purchase, hold or sell securities and may
be changed, suspended or withdrawn at any time. Mexico's current ratings and the rating outlooks
currently assigned to it depend, in part, on economic conditions and other factors that affect credit risk
and are outside the control of Mexico, as well as assessments of the creditworthiness of its productive
state-owned enterprises. Certain ratings agencies have recently downgraded PEMEX's credit ratings and
their assessment of PEMEX's creditworthiness may affect Mexico's credit ratings.
There can be no assurances that Mexico's credit ratings will be maintained or that they will not be
downgraded, suspended or cancelled. Any credit rating downgrade, suspension or cancellation may have
an adverse effect on the market price and the trading of the notes.
S-6

SUMMARY
This summary highlights information contained elsewhere in this prospectus supplement and the
accompanying prospectus. It does not contain all the information that you should consider before
investing in the notes. You should carefully read this entire prospectus supplement.

Issuer
The United Mexican States
LEI
254900EGTWEU67VP6075
Aggregate Principal Amount
For the 2029 notes: U.S.$1,455,664,000
For the 2050 notes: U.S.$2,103,527,000
Issue Price
For the 2029 notes: 106.162%, plus accrued interest, if any,
from April 22, 2019
For the 2050 notes: 99.147%, plus accrued interest, if any, from
July 31, 2019
Issue Date
For the 2029 notes: July 31, 2019
For the 2050 notes: July 31, 2019
Maturity Date
For the 2029 notes: April 22, 2029
For the 2050 notes: January 31, 2050
Specified Currency
U.S. dollars (U.S.$)
Authorized Denominations
U.S.$200,000 and integral multiples of U.S.$1,000 in excess
thereof
Fungibility
The 2029 notes are consolidated and form a single series with,
and are fungible with, the outstanding U.S.$2,000,000,000
4.500% Global Notes due 2029 (CUSIP: 91087B AF7, ISIN
US91087BAF76) previously issued by Mexico.
Form
Registered; Book-Entry through the facilities of DTC, Euroclear
and Clearstream, Luxembourg
Interest Rate
For the 2029 notes: 4.500% per annum, accruing from April 22,
2019
For the 2050 notes: 4.500% per annum, accruing from July 31,
2019
Interest Payment Date
For the 2029 notes: Semi-annually on April 22 and October 22
of each year, commencing on October 22, 2019
For the 2050 notes: Semi-annually on January 31 and July 31
S-7

of each year, commencing on January 31, 2020
Regular Record Date
For the 2029 notes: April 16 and October 16 of each year
For the 2050 notes: January 25 and July 25 of each year
Status
The notes constitute direct, general, unconditional and
unsubordinated public external indebtedness of Mexico for
which the full faith and credit of Mexico is pledged. The notes
of each series rank and will rank without any preference among
themselves and equally with all other unsubordinated public
external indebtedness of Mexico. It is understood that this
provision shall not be construed so as to require Mexico to make
payments under the notes ratably with payments being made
under any other public external indebtedness.
Optional Redemption
With respect to the 2029 notes, Mexico will have the right at its
option, upon giving not less than 30 days' nor more than 60

days' notice, to redeem the notes of such series, in whole or in
part, at any time or from time to time prior to their maturity, at a

redemption price equal to the principal amount thereof, plus the
Make-Whole Amount (as defined below), plus interest accrued
but not paid on the principal amount of such notes to the date of
redemption.
With respect to the 2050 notes, Mexico will have the right at its
option, upon giving not less than 30 days' nor more than 60
days' notice, to redeem the notes of such series, in whole or in
part, at any time or from time to time prior to their maturity, at a
redemption price equal to (a) if redeemed prior to July 31, 2049
(six months prior to the maturity date of the 2050 notes), the
principal amount thereof, plus the Make-Whole Amount (as
defined below), plus interest accrued but not paid on the
principal amount of such notes to the date of redemption, or (b)
if redeemed on or after July 31, 2049 (six months prior to the
maturity date of the 2050 notes), the principal amount thereof,
plus interest accrued but not paid on the principal amount of
such notes to the date of redemption.
"Make-Whole Amount" means the excess of (i) the sum of the
present values of each remaining scheduled payment of principal
and interest on the notes to be redeemed (exclusive of interest
accrued but not paid to the date of redemption), discounted to
the redemption date on a semi-annual basis (assuming a 360-day
year consisting of twelve 30-day months) at the Treasury Rate
(as defined below) plus (a) in the case of the 2029 notes, 30
basis points or (b) in the case of the 2050 notes, 30 basis points
over (ii) the principal amount of such notes.

"Treasury Rate" means, with respect to any redemption date, the
rate per annum equal to the semi-annual equivalent yield to
maturity or interpolated maturity of the Comparable Treasury
S-8