Obligation Mexico 3.375% ( XS1369323149 ) en EUR

Mexico

100 % ▲

Mexique

XS1369323149 ( en EUR )

3.375% par an ( paiement annuel )

22/02/2031

Prospectus brochure de l'obligation Mexico XS1369323149 en EUR 3.375%, échéance 22/02/2031

100 000 EUR

1 700 000 000 EUR

23/02/2026 ( Dans 301 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 mexicaine (XS1369323149) d'une valeur nominale de 1 700 000 000 EUR, libellée en euros, avec un taux d'intérêt annuel de 3,375 %, échéant le 22/02/2031, est actuellement cotée à 100 %, négociable par tranche minimale de 100 000 EUR et payant des coupons annuellement.

Filed Pursuant to Rule 424(b)(2)
Registration No. 333-209421

Prospectus Supplement dated November 14, 2016
To Prospectus dated March 10, 2016
United Mexican States

1,200,000,000 1.375% Global Notes due 2025
700,000,000 3.375% Global Notes due 2031

The 1.375% Global Notes due 2025 (the "2025 notes") will mature on January 15, 2025. The 3.375% Global Notes due 2031 (the "2031
notes") will mature on February 23, 2031. We refer to the 2025 notes and the 2031 notes collectively as the "notes." Mexico will pay interest
on the 2025 notes on January 15 of each year, commencing January 15, 2017. Mexico will pay interest on the 2031 notes on February 23 each
year, commencing February 23, 2017. Mexico may redeem the notes in whole or in part before maturity, at par plus the Make-Whole Amount
and accrued interest, as described herein. The notes will not be entitled to the benefit of any sinking fund. The offering of the 2025 notes and
the offering of the 2031 notes, each pursuant to this prospectus supplement, are not contingent upon one another.
The 2031 notes will be consolidated and form a single series with, and be fungible with, the outstanding 1,000,000,000 3.375% Global
Notes due 2031 (ISIN XS1369323149, Common Code 136932314), previously issued by Mexico.
The notes will be issued under an indenture, and each of the 2025 notes and the 2031 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 March 10, 2016, 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 2031 notes have been listed on the Luxembourg Stock Exchange. Application has been made to list the 2025 notes and
the new 2031 notes on the Luxembourg Stock Exchange and to have the notes admitted to trading on the Euro MTF Market of the Luxembourg
Stock Exchange.
Neither the Securities and Exchange Commission 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, the
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 2025 note .........................................
99.127%
0.170%
98.957%
Total for 2025 notes ...............................
1,189,524,000
2,040,000
1,187,484,000
Per 2031 note .........................................
114.285%
0.190%
114.095%
Total for 2031 notes ...............................
799,995,000
1,330,000
798,665,000
(1) Plus accrued interest, if any, from November 1, 2016 for the 2025 notes to the date of settlement, and from February 23, 2016 to the date of
settlement for the 2031 notes. The amount of accrued interest on the 2031 notes from February 23, 2016 to November 1, 2016 is 16,266,393.44.
The notes were delivered in book-entry form only through the facilities of Euroclear Bank S.A./N.V., as operator of the Euroclear System
("Euroclear") and Clearstream Banking, société anonyme, Luxembourg ("Clearstream, Luxembourg") against payment on November 1, 2016.
____________________
Joint Book-Running Managers
BNP PARIBAS
Citigroup
Santander

November 14, 2016

This prospectus supplement and the attached prospectus dated March 10, 2016 shall constitute a prospectus for the purpose of the Luxembourg
Law dated 10 July 2005 on Prospectuses for Securities, as amended.

TABLE OF CONTENTS

Prospectus Supplement Page
Prospectus

Page
About This Prospectus ....................................... 1
About This Prospectus Supplement ............... S-2
Forward-Looking Statements ............................ 1
Use of Proceeds.............................................. S-3
Data Dissemination ............................................ 2
Summary ........................................................ S-4
Use of Proceeds ................................................. 2
Description of the Notes ................................ S-9
Risk Factors ....................................................... 3
Taxation ....................................................... S-12
Description of the Securities .............................. 6
Plan of Distribution ...................................... S-13
Taxation ........................................................... 26
Plan of Distribution ......................................... 33
Official Statements .......................................... 41
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 March 10, 2016,
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 Canada,
Chile, Colombia, the European Economic Area, France, Germany, Hong Kong, Italy, Japan, Mexico, the
Netherlands, Singapore, Spain, Switzerland, the United Kingdom and Uruguay, see the section entitled
"Plan of Distribution" in the accompanying prospectus.

S-2

USE OF PROCEEDS
The net proceeds to Mexico from the sale of the notes will be approximately 1,986,049,000,
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 100,000. Mexico intends to apply the net
proceeds of the offering of the notes to redeem in full its outstanding 4.250% Global Notes due 2017 (the
"2017 notes") and for the general purposes of the Government of Mexico, including the refinancing,
repurchase or retirement of domestic and external indebtedness of the Government. The outstanding
principal amount of the 2017 notes, which are scheduled to mature in July 2017, is approximately
639,182,000, and Mexico plans to give a notice of redemption pursuant to the provisions of the 2017
notes promptly following the pricing of the offering of the notes.
S-3

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
United Mexican States
Aggregate Principal Amount
For the 2025 notes: 1,200,000,000
For the 2031 notes: 700,000,000
Issue Price
For the 2025 notes: 99.127%, plus accrued interest, if any, from
November 1, 2016
For the 2031 notes: 114.285%, plus accrued interest from
February 23, 2016
Issue Date
For the 2025 notes: November 1, 2016
For the 2031 notes: November 1, 2016
Maturity Date
For the 2025 notes: January 15, 2025
For the 2031 notes: February 23, 2031
Specified Currency
Euro ()
Authorized Denominations
100,000 and integral multiples of 1,000 in excess thereof
Fungibility
The 2031 notes will be consolidated and form a single series
with, and be fungible with, the outstanding 1,000,000,000
3.375% Global Notes due 2031 (ISIN XS1369323149, Common
Code 136932314), previously issued by Mexico.
Form
Registered; Book-Entry
Each series of the notes will be represented by a single global
note, without interest coupons, in registered form, to be deposited
on or about the issue date with Deutsche Bank AG, London
Branch. Deutsche Bank AG, London Branch will serve as
common depositary for Euroclear and Clearstream, Luxembourg.
Interest Rate
For the 2025 notes: 1.375% per annum, accruing from November
1, 2016
For the 2031 notes: 3.375% per annum, accruing from February
23, 2016
Interest Payment Date
For the 2025 notes: Annually on January 15 of each year,
commencing on January 15, 2017
S-4

For the 2031 notes: Annually on February 23 of each year,
commencing on February 23, 2017
Regular Record Date
For the 2025 notes: January 14 of each year
For the 2031 notes: February 22 of each year
Status
The notes will 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 each series of 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.
"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 an annual basis (assuming the actual number
of days in a 365- or 366-day year) at the Benchmark Rate (as
defined below) plus (a) in the case of the 2025 notes, 25 basis
points, or (b) in the case of the 2031 notes, 50 basis points, over
(ii) the principal amount of such notes.

"Benchmark Rate" means, with respect to any redemption date,
the rate per annum equal to the annual equivalent yield to
maturity or interpolated maturity of the Comparable Benchmark
Issue (as defined below), assuming a price for the Comparable
Benchmark Issue (expressed as a percentage of its principal
amount) equal to the Comparable Benchmark Price (as defined
below) for such redemption date.

"Comparable Benchmark Issue" means the Bundesanleihe
security or securities (Bund) of the German Government selected
by an Independent Investment Banker (as defined below) as
having an actual or interpolated maturity comparable to the
remaining term of the notes to be redeemed that would be
utilized, at the time of selection and in accordance with
customary financial practice, in pricing new issues of euro-
denominated corporate debt securities of a comparable maturity
S-5

to the remaining term of such notes.

"Independent Investment Banker" means one of the Reference
Dealers (as defined below) appointed by Mexico.

"Comparable Benchmark Price" means, with respect to any
redemption date, (i) the average of the Reference Dealer
Quotations for such redemption date, after excluding the highest
and lowest such Reference Dealer Quotation or (ii) if Mexico
obtains fewer than four such Reference Dealer Quotations, the
average of all such quotations.

"Reference Dealer" means (a) with respect to the 2025 notes,
each of Banco Santander, S.A., BNP Paribas and Citigroup
Global Markets Limited or their affiliates which are dealers of
Bund of the German Government, and one other leading dealer of
Bund of the German Government designated by Mexico, and
their respective successors, and (b) with respect to the 2031
notes, any of Barclays Bank PLC, BNP Paribas, Credit Suisse
Securities (Europe) Limited and UBS Limited or their affiliates
which are dealers of Bund of the German Government, and one
other leading dealer of Bund of the German Government
designated by Mexico, and their respective successors; provided
that if any of the foregoing shall cease to be a dealer of Bund of
the German Government, Mexico will substitute therefor another
dealer of Bund of the German Government.

"Reference Dealer Quotation" means, with respect to each
Reference Dealer and any redemption date, the average, as
determined by Mexico, of the bid and asked prices for the
Comparable Benchmark Issue (expressed in each case as a
percentage of its principal amount) quoted in writing to Mexico
by such Reference Dealer at 3:30 p.m., Frankfurt, Germany time
on the third business day preceding such redemption date.
Optional Repayment
Holders of the notes will not have the option to elect repayment
by Mexico before the maturity dates of the notes.
Underwriters
Banco Santander, S.A.
BNP Paribas
Citigroup Global Markets Limited
Purchase Price
For the 2025 notes: 99.127%, plus accrued interest, if any, from
November 1, 2016
For the 2031 notes: 114.285%, plus accrued interest from
February 23, 2016
Method of Payment
Wire transfer of immediately available funds to an account
designated by Mexico.
S-6

Listing
The outstanding 2031 notes have been listed on the Luxembourg
Stock Exchange. Application has been made to list the 2025
notes and the new 2031 notes on the Luxembourg Stock
Exchange and to have the notes admitted to trading on the Euro
MTF Market of the Luxembourg Stock Exchange.
Securities Codes

ISIN:
For the 2025 notes: XS1511779305
For the 2031 notes: XS1369323149
Common Code:
For the 2025 notes: 151177930
For the 2031 notes: 136932314
Trustee, Principal Paying Agent, Deutsche Bank Trust Company Americas
Transfer Agent, Registrar,
Authenticating Agent and
Exchange Rate Agent
Luxembourg Listing Agent
KBL European Private Bankers S.A.
Withholding Taxes and
Mexico will make all payments on the notes without withholding
Additional Amounts
or deducting any Mexican taxes. For further information, see
"Description of the Securities--Additional Amounts" in the
accompanying prospectus.
Taxation
Mexico expects that the 2031 notes will be treated as issued in a
"qualified reopening" for U.S. federal income tax purposes and,
accordingly, the 2031 notes will be fungible with the
1,000,000,000 3.375% Global Notes due 2031 previously issued
by Mexico. The 2031 notes issued pursuant to this offering
generally will be treated as having premium. For further
information, see the discussion set forth under the heading
"Taxation--United States Federal Taxation" in this preliminary
prospectus supplement.
Payments of principal or interest under the 2031 notes made to
holders of such notes that are non-resident of Mexico, will not be
subject to Mexican withholding taxes.
Further Issues
Mexico may from time to time, without the consent of holders of
the 2025 notes or the 2031 notes, as the case may be, create and
issue notes of such series having the same terms and conditions
as the applicable series of notes offered pursuant to this
prospectus supplement in all respects, except for the issue date,
issue price and, if applicable, the first payment of interest
thereon; provided, however, that any such additional 2025 notes
and 2031 notes shall be issued either in a "qualified reopening"
for U.S. federal income tax purposes or with no more than de
minimis original issue discount for U.S. federal income tax
purposes. Additional 2025 notes and 2031 notes issued in this
S-7

manner will be consolidated with, and will form a single series
with, any other outstanding notes of such series.
Payment of Principal and
Principal of and interest on the notes, except as described below,
Interest
will be payable by Mexico to the Paying Agent in euro. Holders
of the notes will not have the option to elect to receive payments
in U.S. dollars.
If Mexico determines that euro are not available for making
payments on the notes due to the imposition of exchange controls
or other circumstances beyond Mexico's control, then payments
on the notes shall be made in U.S. dollars until Mexico
determines that euro are again available for making these
payments. In these circumstances, U.S. dollar payments in
respect of the notes will be made at a rate determined by the
exchange rate agent in accordance with the Exchange Rate
Agency Agreement between Mexico and the exchange rate agent.
Any payment made under such circumstances in U.S. dollars will
not constitute an Event of Default under the notes.
Governing Law
State of New York; provided, however, that all matters governing
Mexico's authorization and execution of the indenture and the
notes will be governed by and construed in accordance with the
law of Mexico. Notwithstanding any authorization or any
reserved matter modification, all matters related to the consent of
holders and to modifications of the indenture or the notes will
always be governed by and construed in accordance with the law
of the State of New York.
Additional Provisions
The notes will contain provisions regarding future modifications
to their terms that differ from those applicable to Mexico's
outstanding public external indebtedness issued prior to
November 10, 2014. Those provisions are described beginning
on page 17 of the accompanying prospectus dated March 10,
2016.
Stabilization
In connection with issues of notes, Banco Santander, S.A., BNP
Paribas and Citigroup Global Markets Limited (the "stabilizing
underwriters") or any person acting for the stabilizing
underwriters may over-allot or effect transactions with a view to
supporting the market price of notes at a level higher than that
which might otherwise prevail for a limited period after the issue
date. However, there may be no obligation of the stabilizing
underwriters or any agent of the stabilizing underwriters to do
this. Any such stabilizing, if commenced, may be discontinued at
any time and must be brought to an end after a limited period.

S-8

DESCRIPTION OF THE NOTES
Mexico will issue the notes under an amended and restated indenture, dated as of June 1, 2015,
between Mexico and Deutsche Bank Trust Company Americas, as trustee. The information contained in
this section summarizes some of the terms of the notes and the indenture. This summary does not contain
all of the information that may be important to you as a potential investor in the notes. You should read
the prospectus, the indenture and the form of the notes before making your investment decision. Mexico
has filed or will file copies of these documents with the SEC and will also file copies of these documents
at the offices of the trustee.
Terms of the 2025 Notes

The 2025 notes will:
be issued on or about November 1, 2016 in an aggregate principal amount of 1,200,000,000;
mature on January 15, 2025;
be redeemable at maturity at a redemption price equal to the principal amount of the notes,
plus interest accrued but not paid on the principal amount of such notes to the date of
maturity;
bear interest at a rate of 1.375% per year, accruing from November 1, 2016. Interest on the
notes will be payable annually on January 15 of each year, commencing on January 15, 2017;
pay interest to the persons in whose names the notes are registered at the close of business on
January 14 preceding each payment date;
constitute direct, general, unconditional and unsubordinated external indebtedness of Mexico
for which the full faith and credit of Mexico is pledged;
rank without any preference among themselves and equally all other unsubordinated public
external indebtedness of Mexico (it being 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);
be represented by one or more global securities in book-entry, registered form only;
be registered in the name of the common depositary of Deutsche Bank AG, London Branch,
as operator of the Euroclear System, or Euroclear, and Clearstream Banking, société
anonyme, or Clearstream, Luxembourg;
be redeemable before maturity at the option of Mexico, upon giving not less than 30 days'
nor more than 60 days' notice, to redeem the notes, 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, plus interest accrued but not paid on the principal
amount of such notes to the date of redemption;
not be repayable before maturity; and
S-9