FWP
Issuer Free Writing Prospectus
filed pursuant to Rule 433
supplementing the Preliminary
Prospectus Supplement dated
September 8, 2010
Registration No. 333-162822
Final Term Sheet
Vale Overseas Limited
US$1,000,000,000
4.625% Guaranteed Notes due 2020
     
Issuer:
  Vale Overseas Limited
 
    
Guarantor:
  Vale S.A.
 
    
Title of securities:
  4.625% Guaranteed Notes due 2020 (the “2020 Securities”).
 
    
Aggregate Principal Amount:
  US$1,000,000,000 
 
    
Price to Public:
  99.030% of principal amount, plus accrued interest, if any, from September 15, 2010.
 
    
Gross Proceeds:
  US$990,300,000 
 
    
Annual Interest Rate:
  4.625% 
 
    
Maturity:
  September 15, 2020 
 
    
Interest Payment Dates:
  Payable semi-annually on March 15 and September 15, commencing on March 15, 2011.
 
    
Yield to Maturity:
  4.748% 
 
    
Benchmark:
  UST 2.625% due August 15, 2020 
 
    
Benchmark Yield:
  2.648% 
 
    
Spread to Treasury:
  UST + 210 bps
 
    
Pricing Date:
  September 8, 2010 
 
    
Settlement Date:
  September 15, 2010 (T+5)
 
    
Ratings*:
  Baa2 / BBB+ / BBB+ / BBB (high) (Moody’s / Standard & Poor’s / Fitch / DBRS)
 
    
Minimum Denominations:
  US$2,000/US$1,000 
 
    
Make-Whole Call Spread:
  UST + 30 bps
 
    
Joint Bookrunners:
  Credit Suisse Securities (USA) LLC
 
  J.P. Morgan Securities LLC
 
    
Co-Managers:
  Banco Bradesco S.A. – Grand Cayman Branch
 
  BB Securities Ltd.
 
    
Format:
  SEC-Registered
 
    
Underwriters’ Discount:
  0.35% 
 
    
CUSIP:
  91911TAL7 
 
    
ISIN:
  US91911TAL70 
 
    
Listing:
  Issuer will apply to list the 2020 Securities on the New York Stock Exchange.
* A securities rating is not a recommendation to buy, sell or hold securities and may be subject to revision or withdrawal at any time.
The issuer and the guarantor have 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 and the guarantor have filed with the SEC for more complete information about the issuer, the guarantor 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, the guarantor, any underwriter or any dealer participating in the offering will arrange to send you the prospectus if you request it by calling the Credit Suisse Prospectus Department at +1-800-221-1037 or J.P. Morgan Securities LLC at +1-866-846-2874 (each toll-free in the United States) or, if calling from outside the U.S., by calling collect J.P. Morgan Securities LLC at +1-212-834-5402.