<SEC-DOCUMENT>0001292814-20-000149.txt : 20200117
<SEC-HEADER>0001292814-20-000149.hdr.sgml : 20200117
<ACCEPTANCE-DATETIME>20200117081647
ACCESSION NUMBER:		0001292814-20-000149
CONFORMED SUBMISSION TYPE:	6-K
PUBLIC DOCUMENT COUNT:		2
CONFORMED PERIOD OF REPORT:	20200331
FILED AS OF DATE:		20200117
DATE AS OF CHANGE:		20200117

FILER:

	COMPANY DATA:	
		COMPANY CONFORMED NAME:			NATIONAL STEEL CO
		CENTRAL INDEX KEY:			0001049659
		STANDARD INDUSTRIAL CLASSIFICATION:	STEEL WORKS, BLAST FURNACES & ROLLING & FINISHING MILLS [3310]
		IRS NUMBER:				000000000
		FISCAL YEAR END:			1231

	FILING VALUES:
		FORM TYPE:		6-K
		SEC ACT:		1934 Act
		SEC FILE NUMBER:	001-14732
		FILM NUMBER:		20532305

	BUSINESS ADDRESS:	
		STREET 1:		RUA LAURO MULLER
		STREET 2:		116 36 ANDAR
		CITY:			RIO DE JANEIRO RJ BR
		STATE:			D5
		ZIP:			00000
</SEC-HEADER>
<DOCUMENT>
<TYPE>6-K
<SEQUENCE>1
<FILENAME>sid20200117_6k.htm
<DESCRIPTION>FORM 6-K
<TEXT>

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<p align=center style="background:white;margin-bottom:.0001pt;margin-left:0cm;margin-right:0cm;margin-top:0cm;text-align:center;"><b><font color=black face="times new roman" lang=EN-US style="font-size:12.0pt;line-height:normal;">UNITED STATES</font></b></p>

<p align=center style="background:white;margin-bottom:.0001pt;margin-left:0cm;margin-right:0cm;margin-top:0cm;text-align:center;"><b><font color=black face="times new roman" lang=EN-US style="font-size:12.0pt;line-height:normal;">SECURITIES
AND EXCHANGE COMMISSION</font></b></p>

<p align=center style="background:white;margin-bottom:.0001pt;margin-left:0cm;margin-right:0cm;margin-top:0cm;text-align:center;"><b><font color=black face="times new roman" lang=EN-US style="font-size:12.0pt;line-height:normal;">Washington,
D.C. 20549</font></b></p>

<p style="background:white;margin-bottom:.0001pt;margin-left:0cm;margin-right:0cm;margin-top:0cm;"><font color=black face="times new roman" lang=EN-US style="font-size:10.0pt;line-height:normal;">&nbsp;</font></p>

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&nbsp;</div>

<p style="background:white;margin-bottom:.0001pt;margin-left:0cm;margin-right:0cm;margin-top:0cm;"><font color=black face="times new roman" lang=EN-US style="font-size:10.0pt;line-height:normal;">&nbsp;</font></p>

<p align=center style="background:white;margin-bottom:.0001pt;margin-left:0cm;margin-right:0cm;margin-top:0cm;text-align:center;"><b><font color=black face="times new roman" lang=EN-US style="font-size:10.0pt;line-height:normal;">FORM
6-K</font></b></p>

<p style="background:white;margin-bottom:.0001pt;margin-left:0cm;margin-right:0cm;margin-top:0cm;"><font color=black face="times new roman" lang=EN-US style="font-size:10.0pt;line-height:normal;">&nbsp;</font></p>

<p align=center style="background:white;margin-bottom:.0001pt;margin-left:0cm;margin-right:0cm;margin-top:0cm;text-align:center;"><font color=black face="times new roman" lang=EN-US style="font-size:10.0pt;line-height:normal;">Report
of Foreign Private Issuer<br>
Pursuant to Rule 13a-16 or 15d-16 of the</font></p>

<p align=center style="background:white;margin-bottom:.0001pt;margin-left:0cm;margin-right:0cm;margin-top:0cm;text-align:center;"><font color=black face="times new roman" lang=EN-US style="font-size:10.0pt;line-height:normal;">Securities
Exchange Act of 1934</font></p>

<p style="background:white;margin-bottom:.0001pt;margin-left:0cm;margin-right:0cm;margin-top:0cm;"><font color=black face="times new roman" lang=EN-US style="font-size:10.0pt;line-height:normal;">&nbsp;</font></p>

<p align=center style="background:white;margin-bottom:.0001pt;margin-left:0cm;margin-right:0cm;margin-top:0cm;text-align:center;"><b><font color=black face="times new roman" lang=EN-US style="font-size:10.0pt;line-height:normal;">For
the month of January 2020</font></b></p>

<p align=center style="background:white;margin-bottom:.0001pt;margin-left:0cm;margin-right:0cm;margin-top:0cm;text-align:center;"><b><font color=black face="times new roman" lang=EN-US style="font-size:10.0pt;line-height:normal;">Commission
File Number 1-14732</font></b></p>

<p style="background:white;margin-bottom:.0001pt;margin-left:0cm;margin-right:0cm;margin-top:0cm;"><font color=black face="times new roman" lang=EN-US style="font-size:10.0pt;line-height:normal;">&nbsp;</font></p>

<div align=center style="margin-bottom:.0001pt;margin-left:0cm;margin-right:0cm;margin-top:0cm;text-align:center;">

<hr align=center noshade size=2 width="21%">

&nbsp;</div>

<p style="background:white;margin-bottom:.0001pt;margin-left:0cm;margin-right:0cm;margin-top:0cm;"><font color=black face="times new roman" lang=EN-US style="font-size:10.0pt;line-height:normal;">&nbsp;</font></p>

<p align=center style="background:white;margin-bottom:.0001pt;margin-left:0cm;margin-right:0cm;margin-top:0cm;text-align:center;"><b><font color=black face="times new roman" lang=EN-US style="font-size:10.0pt;line-height:normal;">COMPANHIA
SIDER&#218;RGICA NACIONAL</font></b></p>

<p align=center style="background:white;margin-bottom:.0001pt;margin-left:0cm;margin-right:0cm;margin-top:0cm;text-align:center;"><font color=black face="times new roman" lang=EN-US style="font-size:10.0pt;line-height:normal;">(Exact
name of registrant as specified in its charter)</font></p>

<p style="background:white;margin-bottom:.0001pt;margin-left:0cm;margin-right:0cm;margin-top:0cm;"><font color=black face="times new roman" lang=EN-US style="font-size:10.0pt;line-height:normal;">&nbsp;</font></p>

<p align=center style="background:white;margin-bottom:.0001pt;margin-left:0cm;margin-right:0cm;margin-top:0cm;text-align:center;"><b><font color=black face="times new roman" lang=EN-US style="font-size:10.0pt;line-height:normal;">National
Steel Company</font></b></p>

<p align=center style="background:white;margin-bottom:.0001pt;margin-left:0cm;margin-right:0cm;margin-top:0cm;text-align:center;"><font color=black face="times new roman" lang=EN-US style="font-size:10.0pt;line-height:normal;">(Translation
of registrant&#8217;s name into English)</font></p>

<p style="background:white;margin-bottom:.0001pt;margin-left:0cm;margin-right:0cm;margin-top:0cm;"><font color=black face="times new roman" lang=EN-US style="font-size:10.0pt;line-height:normal;">&nbsp;</font></p>

<p align=center style="background:white;margin-bottom:.0001pt;margin-left:0cm;margin-right:0cm;margin-top:0cm;text-align:center;"><b><font color=black face="times new roman" lang=PT-BR style="font-size:10.0pt;line-height:normal;">Av.
Brigadeiro Faria Lima 3400, 20th Floor<br>
S&#227;o Paulo, SP, Brazil<br>
04538-132</font></b></p>

<p align=center style="background:white;margin-bottom:.0001pt;margin-left:0cm;margin-right:0cm;margin-top:0cm;text-align:center;"><font color=black face="times new roman" lang=EN-US style="font-size:10.0pt;line-height:normal;">(Address
of principal executive office)</font></p>

<p style="background:white;margin-bottom:.0001pt;margin-left:0cm;margin-right:0cm;margin-top:0cm;"><font color=black face="times new roman" lang=EN-US style="font-size:10.0pt;line-height:normal;">&nbsp;</font></p>

<p align=center style="background:white;margin-bottom:.0001pt;margin-left:0cm;margin-right:0cm;margin-top:0cm;text-align:center;"><font color=black face="times new roman" lang=EN-US style="font-size:10.0pt;line-height:normal;">Indicate
by check mark whether the registrant files or will file annual reports<br>
under cover Form 20-F or Form 40-F.</font></p>

<p align=center style="background:white;margin-bottom:.0001pt;margin-left:0cm;margin-right:0cm;margin-top:0cm;text-align:center;"><font color=black face="times new roman" lang=EN-US style="font-size:10.0pt;line-height:normal;">&nbsp;</font></p>

<p align=center style="background:white;margin-bottom:.0001pt;margin-left:0cm;margin-right:0cm;margin-top:0cm;text-align:center;"><font color=black face="times new roman" lang=EN-US style="font-size:10.0pt;line-height:normal;">Form
20-F ___X___ Form 40-F _______</font></p>

<p align=center style="background:white;margin-bottom:8.0pt;margin-left:0cm;margin-right:0cm;margin-top:0cm;text-align:center;"><font color=black face="times new roman" lang=EN-US style="font-size:10.0pt;line-height:normal;">&nbsp;Indicate by check mark whether the registrant by furnishing
the information contained in this Form is also thereby furnishing the
information to the Commission pursuant to Rule 12g3-2(b) under the Securities
Exchange Act of 1934.</font></p>

<p align=center style="background:white;margin-bottom:.0001pt;margin-left:0cm;margin-right:0cm;margin-top:0cm;text-align:center;"><font color=black face="times new roman" lang=EN-US style="font-size:10.0pt;line-height:normal;">Yes
_______ No ___X____</font></p>

<div style="margin-bottom:.0001pt;margin-left:0cm;margin-right:0cm;margin-top:0cm;">

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&nbsp;</div>

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<p style="margin-bottom:8.0pt;margin-left:0cm;margin-right:0cm;margin-top:0cm;"><b><font color=black face="times new roman" lang=PT-BR style="font-size:10.0pt;line-height:107%;">&nbsp;</font></b></p>


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<P style="BACKGROUND: white; TEXT-ALIGN: center; MARGIN: 0cm 0cm 0pt" align=center>
<IMG border=0 src="sid_logo.gif"></P>

<P style="BACKGROUND: white; TEXT-ALIGN: center; MARGIN: 0cm 0cm 0pt" align=center><B><FONT lang=PT-BR style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=black face="times new roman"></FONT></B>&nbsp;</P>

<P style="BACKGROUND: white; TEXT-ALIGN: center; MARGIN: 0cm 0cm 0pt" align=center><B><FONT lang=PT-BR style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=black face="times new roman">COMPANHIA SIDER&#218;RGICA NACIONAL</FONT></B></P>

<P style="BACKGROUND: white; TEXT-ALIGN: center; MARGIN: 0cm 0cm 0pt" align=center><FONT lang=PT-BR style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=black face="times new roman">Corporate Taxpayer ID (CNPJ/MF): 33.042.730/0001-04</FONT></P>

<P style="BACKGROUND: white; TEXT-ALIGN: center; MARGIN: 0cm 0cm 0pt" align=center><FONT lang=EN-US style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=black face="times new roman">Company Registry (NIRE): 35300396090</FONT></P>

<P style="BACKGROUND: white; TEXT-ALIGN: center; MARGIN: 0cm 0cm 0pt" align=center><FONT lang=EN-US style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=black face="times new roman">Publicly-held Company</FONT></P>

<P style="BACKGROUND: white; TEXT-ALIGN: center; MARGIN: 0cm 0cm 0pt" align=center><FONT lang=EN-US style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=black face="times new roman"></FONT>&nbsp;</P>

<P style="BACKGROUND: white; TEXT-ALIGN: center; MARGIN: 0cm 0cm 0pt" align=center><FONT lang=EN-US style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=black face="times new roman"></FONT>&nbsp;</P>

<P style="MARGIN: 0cm 0cm 0pt"><B><FONT lang=EN-US style="FONT-SIZE: 12pt; LINE-HEIGHT: normal" face="times new roman">Announcement of Tender Offer for Any and All 2020 Notes by CSN Resources S.A.</FONT></B></P>

<P style="MARGIN: 0cm 0cm 0pt"><B><FONT lang=EN-US style="FONT-SIZE: 12pt; LINE-HEIGHT: normal" face="times new roman"></FONT></B>&nbsp;</P>

<P style="MARGIN: 0cm 0cm 0pt"><B><FONT lang=EN-US style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" face="times new roman">S&#227;o Paulo, January 17, 2020 &#8211; Companhia Sider&#250;rgica Nacional </FONT></B><FONT lang=EN-US style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" face="times new roman">(&#8220;</FONT><U><FONT lang=EN-US style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" face="times new roman">CSN</FONT></U><FONT lang=EN-US style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" face="times new roman">&#8221;) (NYSE: SID)</FONT><B><FONT lang=EN-US style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" face="times new roman"> </FONT></B><FONT lang=EN-US style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" face="times new roman">announced today that its subsidiary, CSN Resources S.A. (&#8220;</FONT><U><FONT lang=EN-US style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" face="times new roman">CSN Resources</FONT></U><FONT lang=EN-US style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" face="times new roman">&#8221;), has commenced a cash tender offer (the &#8220;</FONT><U><FONT lang=EN-US style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" face="times new roman">Tender Offer</FONT></U><FONT lang=EN-US style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" face="times new roman">&#8221;) for any and all of its outstanding 6.50% Senior Unsecured Guaranteed Notes due 2020 (the &#8220;</FONT><U><FONT lang=EN-US style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" face="times new roman">Notes</FONT></U><FONT lang=EN-US style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" face="times new roman">&#8221;) (144A CUSIP / ISIN Nos. 12644VAA6 / US12644VAA61 and Reg S CUSIP / ISIN Nos. L21779AA8/USL21779AA88).</FONT></P>

<P style="MARGIN: 0cm 0cm 0pt"><FONT lang=EN-US style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" face="times new roman"></FONT>&nbsp;</P>

<P style="MARGIN: 0cm 0cm 0pt"><FONT lang=EN-US style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" face="times new roman">The Notes are fully, unconditionally and irrevocably guaranteed by CSN.</FONT></P>

<P style="MARGIN: 0cm 0cm 0pt"><FONT lang=EN-US style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" face="times new roman"><BR>The following table sets forth the material pricing terms of the Tender Offer:</FONT></P>

<P style="TEXT-ALIGN: justify; MARGIN: 0cm 0cm 0pt"><FONT lang=EN-US style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" face="times new roman"></FONT>&nbsp;</P>

<DIV align=left>

<TABLE style="BORDER-TOP: medium none; BORDER-RIGHT: medium none; WIDTH: 100%; BORDER-BOTTOM: medium none; MARGIN-LEFT: 0pt; BORDER-LEFT: medium none" cellSpacing=0 cellPadding=0 border=0>



<TR style="HEIGHT: 20.9pt">

   <TD style="BORDER-TOP: windowtext 1pt solid; HEIGHT: 20.9pt; BORDER-RIGHT: windowtext 1pt solid; BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0cm; PADDING-TOP: 0cm; PADDING-LEFT: 5.4pt; BORDER-LEFT: windowtext 1pt solid; PADDING-RIGHT: 5.4pt" vAlign=top width="31%">

   <P style="TEXT-ALIGN: center; MARGIN: 0cm 0cm 0pt" align=center><B><U><FONT style="FONT-SIZE: 9pt; LINE-HEIGHT: normal" face="times new roman">Title of Security</FONT></U></B></P></TD>

   <TD style="BORDER-TOP: windowtext 1pt solid; HEIGHT: 20.9pt; BORDER-RIGHT: windowtext 1pt solid; BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0cm; PADDING-TOP: 0cm; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt" vAlign=top width="33%">

   <P style="TEXT-ALIGN: center; MARGIN: 0cm 0cm 0pt" align=center><B><U><FONT style="FONT-SIZE: 9pt; LINE-HEIGHT: normal" face="times new roman">CUSIP / ISIN</FONT></U></B></P></TD>

   <TD style="BORDER-TOP: windowtext 1pt solid; HEIGHT: 20.9pt; BORDER-RIGHT: windowtext 1pt solid; BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0cm; PADDING-TOP: 0cm; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt" vAlign=top width="19%">

   <P style="TEXT-ALIGN: center; MARGIN: 0cm 0cm 0pt" align=center><B><U><FONT style="FONT-SIZE: 9pt; LINE-HEIGHT: normal" face="times new roman">Principal Amount Outstanding</FONT></U></B></P></TD>

   <TD style="BORDER-TOP: windowtext 1pt solid; HEIGHT: 20.9pt; BORDER-RIGHT: windowtext 1pt solid; BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0cm; PADDING-TOP: 0cm; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt" vAlign=top width="17%">

   <P style="TEXT-ALIGN: center; MARGIN: 0cm 0cm 0pt" align=center><B><U><FONT style="FONT-SIZE: 9pt; LINE-HEIGHT: normal" face="times new roman">Purchase Price</FONT></U></B><SUP><B><FONT style="FONT-SIZE: 9pt; LINE-HEIGHT: normal" face="times new roman">(</FONT></B></SUP><SUP><FONT style="FONT-SIZE: 9pt; LINE-HEIGHT: normal" face="times new roman">1)</FONT></SUP></P></TD></TR>

<TR style="HEIGHT: 46.3pt">

   <TD style="HEIGHT: 46.3pt; BORDER-RIGHT: windowtext 1pt solid; BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0cm; PADDING-TOP: 0cm; PADDING-LEFT: 5.4pt; BORDER-LEFT: windowtext 1pt solid; PADDING-RIGHT: 5.4pt" vAlign=top width="31%">

   <P style="TEXT-ALIGN: center; MARGIN: 6pt 0cm 0pt" align=center><FONT lang=EN-US style="FONT-SIZE: 9pt; LINE-HEIGHT: normal" face="times new roman">6.50% Senior Unsecured Guaranteed Notes due 2020</FONT></P></TD>

   <TD style="HEIGHT: 46.3pt; BORDER-RIGHT: windowtext 1pt solid; BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0cm; PADDING-TOP: 0cm; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt" vAlign=top width="33%">

   <P style="TEXT-ALIGN: center; MARGIN: 6pt 0cm 0pt" align=center><FONT lang=EN-US style="FONT-SIZE: 9pt; LINE-HEIGHT: normal" face="times new roman">144A: 12644VAA6 / US12644VAA61</FONT></P>

   <P style="TEXT-ALIGN: center; MARGIN: 6pt 0cm 0pt" align=center><FONT lang=EN-US style="FONT-SIZE: 9pt; LINE-HEIGHT: normal" face="times new roman">Regulation S:</FONT></P>

   <P style="TEXT-ALIGN: center; MARGIN: 0cm 0cm 0pt" align=center><FONT style="FONT-SIZE: 9pt; LINE-HEIGHT: normal" face="times new roman">L21779AA8 / USL21779AA88</FONT></P></TD>

   <TD style="HEIGHT: 46.3pt; BORDER-RIGHT: windowtext 1pt solid; BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0cm; PADDING-TOP: 0cm; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt" vAlign=top width="19%">

   <P style="TEXT-ALIGN: center; MARGIN: 6pt 0cm 0pt" align=center><FONT style="FONT-SIZE: 9pt; LINE-HEIGHT: normal" face="times new roman">US$433,603,000</FONT></P></TD>

   <TD style="HEIGHT: 46.3pt; BORDER-RIGHT: windowtext 1pt solid; BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0cm; PADDING-TOP: 0cm; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt" vAlign=top width="17%">

   <P style="TEXT-ALIGN: center; MARGIN: 6pt 0cm 0pt" align=center><FONT style="FONT-SIZE: 9pt; LINE-HEIGHT: normal" face="times new roman">US$1,020</FONT></P></TD></TR></TABLE></DIV>

<P style="TEXT-ALIGN: justify; MARGIN: 0cm 0cm 0pt"><FONT lang=EN-US style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" face="times new roman">__________________</FONT></P>

<P style="TEXT-ALIGN: justify; MARGIN: 0cm 0cm 0pt"><FONT lang=EN-US style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" face="times new roman"></FONT>&nbsp;</P>

<P style="MARGIN: 0cm 0cm 0pt 36pt; TEXT-INDENT: -18pt"><FONT lang=EN-US style="FONT-SIZE: 8pt; LINE-HEIGHT: normal" face="times new roman">(1)&nbsp;&nbsp; The amount to be paid for each US$1,000 principal amount of Notes validly tendered and accepted for purchase. In addition, accrued interest up to, but excluding, the settlement date (&#8220;</FONT><U><FONT lang=EN-US style="FONT-SIZE: 8pt; LINE-HEIGHT: normal" face="times new roman">Accrued Interest</FONT></U><FONT lang=EN-US style="FONT-SIZE: 8pt; LINE-HEIGHT: normal" face="times new roman">&#8221;) will be paid.</FONT></P>

<P style="MARGIN: 0cm 0cm 0pt 36pt; TEXT-INDENT: -18pt"><FONT lang=EN-US style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" face="times new roman"></FONT>&nbsp;</P>

<P style="BACKGROUND: white; MARGIN: 0cm 0cm 0pt"><FONT lang=EN-GB style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" face="times new roman">The Tender Offer is scheduled to expire at 5:00 p.m., New York City time, on January 24, 2020, unless extended or earlier terminated as described herein (such time, as may be extended, the &#8220;</FONT><U><FONT lang=EN-GB style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" face="times new roman">Expiration Time</FONT></U><FONT lang=EN-GB style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" face="times new roman">&#8221;). Holders of Notes who validly tender (and do not validly withdraw) their Notes or deliver a properly completed and duly executed notice of guaranteed delivery (the &#8220;</FONT><U><FONT lang=EN-GB style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" face="times new roman">Notice of Guaranteed Delivery</FONT></U><FONT lang=EN-GB style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" face="times new roman">&#8221;) at or prior to the Expiration Time will be eligible to receive US$</FONT><FONT lang=EN-US style="FONT-SIZE: 9pt; LINE-HEIGHT: normal" face="times new roman">1,020 </FONT><FONT lang=EN-GB style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" face="times new roman">for each US$1,000 principal amount of Notes </FONT><FONT lang=EN-US style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" face="times new roman">validly tendered and accepted for purchase, </FONT><I><FONT lang=EN-US style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" face="times new roman">plus </FONT></I><FONT lang=EN-US style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" face="times new roman">Accrued Interest</FONT><FONT lang=EN-GB style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" face="times new roman">. Validly tendered Notes may be validly withdrawn at any time at or prior to the Expiration Time, unless extended or earlier terminated as described below, but not thereafter. </FONT></P>

<P style="BACKGROUND: white; MARGIN: 0cm 0cm 0pt"><FONT lang=EN-GB style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=#373737 face="times new roman"></FONT>&nbsp;</P>

<P style="MARGIN: 0cm 0cm 10pt"><FONT lang=EN-US style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" face="times new roman">The consideration for each US$1,000 principal amount of Notes validly tendered and accepted for purchase pursuant to the Tender Offer will be the purchase price set forth in the table on the cover page of the Offer to Purchase. Holders of Notes validly tendered or with respect to which a properly completed and duly executed Notice of Guaranteed Delivery is delivered at or prior to the Expiration Time and accepted for purchase pursuant to the Tender Offer will receive the purchase price for the Notes. In addition to the purchase price, all holders of Notes accepted for purchase pursuant to the Tender Offer will receive Accrued Interest.</FONT></P>

<P style="BACKGROUND: white; MARGIN: 0cm 0cm 0pt"><FONT lang=EN-GB style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" face="times new roman">CSN Resources&#8217; obligation to purchase Notes validly tendered pursuant to the Tender Offer is subject to market conditions and the satisfaction or waiver of certain conditions described in the Offer to Purchase, including completion by CSN, through one or more finance subsidiaries, of new debt financing on satisfactory terms and conditions. However, the Tender Offer is not conditioned on any minimum amount of Notes being tendered. Subject to applicable law, CSN Resources expressly reserves the right, in its sole discretion, to terminate the Tender Offer if the conditions are not satisfied. If the Tender Offer is terminated at any time, the Notes tendered will be promptly returned to the tendering holders without compensation or cost to such holders and will remain outstanding. Furthermore, CSN Resources reserves the right, in its sole discretion, not to accept any tenders of Notes for any reason.</FONT></P>

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<P style="BACKGROUND: white; MARGIN: 0cm 0cm 0pt"><FONT lang=EN-US style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" face="times new roman">Settlement of the Tender Offer is expected to occur on the fifth business day following the Expiration Time, unless the Tender Offer is terminated prior to such date. Tendered Notes may be withdrawn at any time at or prior to the earlier of the Expiration Time and, in the event that the Tender Offer is extended, the tenth business day after commencement of the Tender Offer. Tendered Notes may be withdrawn at any time after the 60<SUP>th</SUP> business day after commencement of the Tender Offer if for any reason the offer has not been consummated within 60 business days after commencement.</FONT></P>

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<P style="MARGIN: 0cm 0cm 10pt"><FONT lang=EN-US style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" face="times new roman">Upon the terms and subject to the conditions of the Tender Offer set forth in the Offer to Purchase, dated January 17, 2020 (the &#8220;</FONT><U><FONT lang=EN-US style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" face="times new roman">Offer to Purchase</FONT></U><FONT lang=EN-US style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" face="times new roman">&#8221;), all Notes validly tendered and not validly withdrawn or with respect to which a properly completed and duly executed Notice of Guaranteed Delivery (as described in the Offer to Purchase) is delivered at or prior to the Expiration Time, as applicable, will be accepted for purchase. CSN Resources reserves the absolute right to amend or terminate the Tender Offer in its sole discretion, subject to disclosure and other requirements under applicable law. In the event of termination of the Tender Offer, Notes tendered and not accepted for purchase pursuant to the Tender Offer will be promptly returned to the tendering holders. The complete terms and conditions of the Tender Offer are described in the Offer to Purchase and the Notice of Guaranteed Delivery, copies of which may be obtained from D.F. King &amp; Co., Inc., the tender agent and information agent (the &#8220;</FONT><U><FONT lang=EN-US style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" face="times new roman">Tender Agent and Information Agent</FONT></U><FONT lang=EN-US style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" face="times new roman">&#8221;) for the Tender Offer, at </FONT><I><FONT lang=EN-US style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" face="times new roman">www.dfking.com/csn</FONT></I><FONT lang=EN-US style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" face="times new roman">, by telephone at +1 (866) 530-8636 (U.S. toll free) or +1 (212) 269-5550 (collect), in writing to 48 Wall Street, 22nd Floor, New York, NY 10005, Attention: Andrew Beck, or by email to </FONT><I><FONT lang=EN-US style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" face="times new roman">csn@dfking.com</FONT></I><FONT lang=EN-US style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" face="times new roman">.</FONT></P>

<P style="MARGIN: 0cm 0cm 0pt"><FONT lang=EN-US style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" face="times new roman">CSN Resources has engaged BofA Securities, Inc., J.P. Morgan Securities LLC and Morgan Stanley &amp; Co. LLC to act as the dealer managers (the &#8220;</FONT><U><FONT lang=EN-US style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" face="times new roman">Dealer Managers</FONT></U><FONT lang=EN-US style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" face="times new roman">&#8221;) in connection with the Tender Offer. Questions regarding the terms of the Tender Offer may be directed to BofA Securities, Inc. at +1 (888) 292-0070 (U.S. toll free) or +1 (646) 855-8988 (collect), J.P. Morgan Securities LLC at +1 (866) 846-2874 (U.S. toll free) or +1 (212) 834-7279 (collect) and Morgan Stanley &amp; Co. LLC at +1 (800) 624-1808 (U.S. toll free) or +1 (212) 761-1057 (collect).</FONT></P>

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<P style="MARGIN: 0cm 0cm 0pt"><B><FONT lang=EN-US style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" face="times new roman">Disclaimer </FONT></B></P>

<P style="MARGIN: 0cm 0cm 0pt"><FONT lang=EN-US style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" face="times new roman"></FONT>&nbsp;</P>

<P style="MARGIN: 0cm 0cm 0pt"><FONT lang=EN-US style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" face="times new roman">None of CSN, CSN Resources, the Dealer Managers, the Tender Agent and Information Agent or the trustee for the Notes, or any of their respective affiliates, is making any recommendation as to whether holders should or should not tender any Notes in response to the Tender Offer or expressing any opinion as to whether the terms of the Tender Offer are fair to any holder. Holders must make their own decision as to whether to tender any Notes and, if so, the principal amount of Notes to tender. Please refer to the Offer to Purchase for a description of the offer terms, conditions, disclaimers and other information applicable to the Tender Offer.</FONT></P>

<P style="MARGIN: 0cm 0cm 0pt"><FONT lang=EN-US style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" face="times new roman"></FONT>&nbsp;</P>

<P style="MARGIN: 0cm 0cm 0pt"><FONT lang=EN-US style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" face="times new roman">This press release is for informational purposes only and does not constitute an offer to purchase or the solicitation of an offer to sell any securities. The Tender Offer is being made solely by means of the Offer to Purchase. The Tender Offer is not being made to holders of Notes in any jurisdiction in which the making or acceptance thereof would not be in compliance with the securities, blue sky or other laws of such jurisdiction. In those jurisdictions where the securities, blue sky or other laws require any tender offer to be made by a licensed broker or dealer, the Tender Offer will be deemed to be made on behalf of CSN Resources by the Dealer Managers or one or more registered brokers or dealers licensed under the laws of such jurisdiction.</FONT></P>

<P style="MARGIN: 0cm 0cm 0pt"><B><FONT lang=EN-US style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=#fe5000 face="times new roman"></FONT></B>&nbsp;</P>

<P style="MARGIN: 0cm 0cm 0pt"><FONT lang=EN-US style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" face="times new roman">This release may contain forward-looking statements within the meaning of Section 27A of the U.S. Securities Act of 1933 and Section 21E of the U.S. Securities Exchange Act of 1934, as amended, including those related to the Tender Offer. Forward-looking information involves important risks and uncertainties that could significantly affect anticipated results in the future, and, accordingly, such results may differ from those expressed in any forward-looking statements. </FONT></P>

<P style="BACKGROUND: white; TEXT-ALIGN: justify; MARGIN: 0cm 0cm 0pt"><FONT lang=EN-US style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=black face="times new roman"></FONT>&nbsp;</P>

<P style="BACKGROUND: white; TEXT-ALIGN: center; MARGIN: 0cm 0cm 0pt" align=center><FONT lang=EN-US style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=black face="times new roman"></FONT>&nbsp;</P>

<P style="BACKGROUND: white; TEXT-ALIGN: center; MARGIN: 0cm 0cm 0pt" align=center><B><FONT lang=PT-BR style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=black face="times new roman">COMPANHIA SIDER&#218;RGICA NACIONAL</FONT></B></P>

<P style="BACKGROUND: white; TEXT-ALIGN: center; MARGIN: 0cm 0cm 0pt" align=center><B><FONT lang=PT-BR style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=black face="times new roman">Marcelo Cunha Ribeiro</FONT></B></P>

<P style="BACKGROUND: white; TEXT-ALIGN: center; MARGIN: 0cm 0cm 0pt" align=center><B><FONT lang=EN-US style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=black face="times new roman">Chief Financial and Investor Relations Officer</FONT></B></P>

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<P style="BACKGROUND: white; TEXT-ALIGN: center; MARGIN: 0cm 0cm 0pt" align=center><B><FONT lang=EN-US style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=black face="times new roman">SIGNATURES</FONT></B></P>

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<P style="BACKGROUND: white; MARGIN: 0cm 0cm 0pt; TEXT-INDENT: 24.5pt"><FONT lang=EN-US style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=black face="times new roman">Pursuant to the requirements of the U.S. Securities Exchange Act of 1934, the registrant has duly caused this report to be signed on its behalf by the undersigned, thereunto duly authorized.</FONT></P>

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   <P style="MARGIN: 0cm 0cm 0pt"><FONT lang=EN-US style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" face="times new roman">January 17, 2020</FONT></P></TD>

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   <P style="MARGIN: 0cm 0cm 0pt"><B><FONT lang=EN-US style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" face="times new roman">Companhia Sider&#250;rgica Nacional </FONT></B></P></TD></TR>

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   <P style="MARGIN: 0cm 0cm 0pt"><FONT lang=EN-US style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" face="times new roman">By: </FONT></P>

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   <P style="MARGIN: 0cm 0cm 0pt"><FONT lang=EN-US style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" face="times new roman">Benjamin Steinbruch</FONT></P></TD></TR>

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   <P style="MARGIN: 0cm 0cm 0pt"><FONT lang=EN-US style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" face="times new roman">Chief Executive Officer </FONT></P></TD></TR>

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   <P style="MARGIN: 0cm 0cm 0pt"><FONT style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" face="times new roman">Marcelo Cunha Ribeiro</FONT></P></TD></TR>

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   <P style="MARGIN: 0cm 0cm 0pt"><FONT lang=EN-US style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" face="times new roman">Chief Financial and Investor Relations Officer</FONT></P></TD></TR>

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<P style="BACKGROUND: white; TEXT-ALIGN: center; MARGIN: 0cm 0cm 0pt" align=center><B><FONT lang=EN-US style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=black face="times new roman">FORWARD-LOOKING STATEMENTS</FONT></B></P>

<P style="BACKGROUND: white; MARGIN: 0cm 0cm 8pt"><FONT lang=EN-US style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=black face="times new roman">This press release may contain forward-looking statements. These statements are statements that are not historical facts, and are based on management&#8217;s current view and estimates of future economic circumstances, industry conditions, company performance and financial results. The words &#8220;anticipates,&#8221; &#8220;believes,&#8221; &#8220;estimates,&#8221; &#8220;expects,&#8221; &#8220;plans&#8221; and similar expressions, as they relate to the company, are intended to identify forward-looking statements. Statements regarding the declaration or payment of dividends, the implementation of principal operating and financing strategies and capital expenditure plans, the direction of future operations and the factors or trends affecting financial condition, liquidity or results of operations are examples of forward-looking statements. Such statements reflect the current views of management and are subject to a number of risks and uncertainties. There is no guarantee that the expected events, trends or results will actually occur. The statements are based on many assumptions and factors, including general economic and market conditions, industry conditions and operating factors. Any changes in these assumptions or factors could cause actual results to differ materially from current expectations.</FONT></P>

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end
</TEXT>
</DOCUMENT>
</SEC-DOCUMENT>
