Obligation Mexica 4.28% ( US91087BAQ32 ) en USD

Société émettrice Mexica
Prix sur le marché refresh price now   100 %  ▲ 
Pays  Mexique
Code ISIN  US91087BAQ32 ( en USD )
Coupon 4.28% par an ( paiement semestriel )
Echéance 14/08/2041



Prospectus brochure de l'obligation Mexico US91087BAQ32 en USD 4.28%, échéance 14/08/2041


Montant Minimal 200 000 USD
Montant de l'émission 2 500 000 000 USD
Cusip 91087BAQ3
Notation Standard & Poor's ( S&P ) N/A
Notation Moody's N/A
Prochain Coupon 14/02/2026 ( Dans 85 jours )
Description détaillée 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 Mexica ( Mexique ) , en USD, avec le code ISIN US91087BAQ32, paye un coupon de 4.28% par an.
Le paiement des coupons est semestriel et la maturité de l'Obligation est le 14/08/2041








Prospectus Supplement dated April 16, 2021
To Prospectus dated September 25, 2020

United Mexican States

U.S.$3,256,899,000 4.280% Global Notes due 2041


The 4.280% Global Notes due 2041 (the "notes") will mature on August 14, 2041. Mexico will pay interest on the notes on
February 14 and August 14 of each year, commencing August 14, 2021. 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 notes were issued under an 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 15 of the accompanying prospectus dated September 25,
2020, 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.
Application has been made to list the notes on the Luxembourg Stock Exchange and to have the notes admitted to trading
on the Euro MTF Market of the Luxembourg Stock Exchange. No assurances can be given by Mexico that such applications
will be approved or that such listings will be maintained.
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 investors that qualify as accredited or institutional investors under 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 and statistical 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 note
99.938%
0.180%
99.758%
Total for the notes
U.S.$3,254,879,723
U.S.$5,862,418
U.S.$3,249,017,304

(1) Plus accrued interest, if any, from April 14, 2021 to the date of settlement, which was April 14, 2021.
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 April 14, 2021.
Joint Bookrunners
BBVA BofA Securities Credit Suisse J.P. Morgan


____________________
April 16, 2021



This prospectus supplement and the attached prospectus dated September 25, 2020 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
Page
Page
About this Prospectus Supplement ................... S-2 About this Prospectus ........................................ 1
Forward-Looking Statements ............................ S-4 Forward-Looking Statements............................. 1
Summary ........................................................... S-5 Data Dissemination ............................................ 2
Risk Factors .................................................... S-10 Use of Proceeds ................................................. 2
Use of Proceeds............................................... S-12 Risk Factors ....................................................... 3
Description of the Notes ................................. S-13 Description of the Securities .............................. 6
Taxation .......................................................... S-15 Taxation ........................................................... 26
Recent Developments ..................................... S-16 Plan of Distribution .......................................... 33
Plan of Distribution (Conflicts of interest) ..... S-35 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 September 25, 2020,
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
(EU) 2016/97 (as amended, the "Insurance Distribution 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 (as amended, 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.
PROHIBITION OF SALES TO UK 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 United Kingdom ("UK"). For these purposes, a retail investor
means a person who is one (or more) of: (i) a retail client, as defined in point (8) of Article 2 of
Regulation (EU) No 2017/565 as it forms part of domestic law by virtue of the European Union
(Withdrawal) Act 2018 (as amended, the "EUWA"); or (ii) a customer within the meaning of the
provisions of the UK Financial Services and Markets Act 2000 (as amended, the "FSMA") and any rules
or regulations made under the FSMA to implement the Insurance Distribution Directive, where that
customer would not qualify as a professional client, as defined in point (8) of Article 2(1) of Regulation
(EU) No 600/2014 as it forms part of domestic law by virtue of the EUWA. Consequently, no key
information document required by Regulation (EU) No 1286/2014 (as amended) as it forms part of
domestic law by virtue of the EUWA (the "UK PRIIPs Regulation") for offering or selling the notes or
otherwise making them available to retail investors in the UK has been prepared and therefore offering or
selling the notes or otherwise making them available to any retail investor in the UK may be unlawful
under the UK PRIIPs Regulation.

The prospectus supplement is only being distributed to and is only directed at (i) persons who are
outside the UK 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 Articles 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.


· Global or national health considerations, including the outbreak of pandemic or contagious disease,
such as the ongoing coronavirus ("COVID-19") pandemic.



S-4








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
Aggregate Principal Amount ................. U.S.$3,256,899,000

LEI ........................................................... 254900EGTWEU67VP6075
Issue Price ..............................................
99.938%, plus accrued interest, if any, from April 14, 2021

Issue Date ...............................................
April 14, 2021
Maturity Date ........................................
August 14, 2041

Specified Currency..............................
U.S. dollars (U.S.$)
Authorized Denominations
U.S.$200,000 and integral multiples of U.S.$1,000 in excess
thereof
Form .......................................................
Registered; Book-Entry through the facilities of DTC,
Euroclear and Clearstream, Luxembourg.
Interest Rate .........................................
4.280% per annum, accruing from April 14, 2021

Interest Payment Date ..........................
Semi-annually on February 14 and August 14 of each year,
commencing on August 14, 2021

Regular Record Date ............................
February 8 and August 8 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 rank and will rank without any preference among
themselves and equally with all other unsubordinated public
S-5



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............................
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, 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 February 14, 2041 (six months prior to the
maturity date of the 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
February 14, 2041 (six months prior to the maturity date of
the 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 35 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 Issue (as defined below), assuming a price for the
Comparable Treasury Issue (expressed as a percentage of its
principal amount) equal to the Comparable Treasury Price (as
defined below) for such redemption date.

"Comparable Treasury Issue" means the United States
Treasury security or securities 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 investment grade debt
securities of a comparable maturity to the remaining term of
such notes.

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

"Comparable Treasury Price" means, with respect to any
redemption date, (a) the average of the Reference Treasury
S-6





Dealer Quotations for such redemption date, after excluding
the highest and lowest such Reference Treasury Dealer
Quotation (as defined below) or (b) if Mexico obtains fewer
than four such Reference Treasury Dealer Quotations, the
average of all such quotations.

"Reference Treasury Dealer" means each of BofA Securities,
Inc., Credit Suisse Securities (USA) LLC and J.P. Morgan
Securities LLC or their affiliates which are primary United
States government securities dealers and their respective
successors, and two other Primary Treasury Dealers (as
defined below) selected by Mexico; provided that if any of
the foregoing shall cease to be a primary United States
government securities dealer in the City of New York (a
"Primary Treasury Dealer"), Mexico will substitute therefor
another Primary Treasury Dealer.

"Reference Treasury Dealer Quotation" means, with respect
to each Reference Treasury Dealer and any redemption date,
the average, as determined by Mexico, of the bid and ask
prices for the Comparable Treasury Issue (expressed in each
case as a percentage of its principal amount) quoted in
writing to Mexico by such Reference Treasury Dealer at 3:30
p.m., New York 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 date of the notes.
Use of Proceeds ....................................
Mexico intends to use the net proceeds from the sale of the
notes to retire outstanding indebtedness of Mexico, pursuant
to the redemption of part or all of its 2023 notes (as defined
below) and the Tender Offer (as defined below), and for the
general purposes of the Government of Mexico. For further
information, see "Use of Proceeds."
Underwriters .........................................
BBVA Securities Inc.
BofA Securities, Inc.
Credit Suisse Securities (USA) LLC
J.P. Morgan Securities LLC

Listing ....................................................
Application has been made to list the notes on the
Luxembourg Stock Exchange and to have the notes admitted
to trading on the Euro MTF Market of the Luxembourg Stock
Exchange. No assurances can be given by Mexico that such
applications will be approved or that such listings will be
maintained.
Securities Codes ....................................

ISIN:
US91087BAQ32
S-7





CUSIP:
91087B AQ3
Common Code:
233209295
Trustee, Principal Paying Agent,
Deutsche Bank Trust Company Americas
Transfer Agent and Registrar ............
Luxembourg Listing Agent ..................
Banque Internationale à Luxembourg S.A.
Withholding Taxes and Additional
Subject to certain exceptions, Mexico will make all payments
Amounts .................................................
on the notes without withholding or deducting any Mexican
taxes. For further information, see "Description of the
Securities--Additional Amounts" in the accompanying
prospectus and this prospectus supplement.
Taxation .................................................
Payments of principal or interest under the notes made to
holders of such notes that are non-resident of Mexico for tax
purposes will not be subject to Mexican withholding taxes.
Further Issues ......................................
Mexico may from time to time, without the consent of
holders of the notes, create and issue notes having the same
terms and conditions as the 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. If issued pursuant to a "qualified reopening"
of the original series, otherwise treated as part of the same
"issue" of debt instruments as the original series or issued
with no more than a de minimis amount of original issue
discount, in each case for U.S. federal income tax purposes,
such additional notes may have the same ISIN numbers and
CUSIP numbers as the notes offered pursuant to this
prospectus supplement and may be consolidated with, and
form a single series with, any other outstanding notes of this
series.
Payment of Principal and Interest .......
Principal of and interest on the notes will be payable by
Mexico to the Principal Paying Agent in U.S. dollars.
Governing Law ......................................
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 laws 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 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 15 of the accompanying prospectus dated
S-8





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