Prospectus Filed Pursuant to Rule 424(b)(3) (424b3)

The information in this preliminary pricing supplement is not complete and may be changed. This preliminary pricing supplement and the accompanying prospectus supplement and prospectus are not offers to sell these securities and are not soliciting an offer to buy these securities in any jurisdiction where the offer or sale is not permitted.

Subject to completion

Preliminary Pricing Supplement dated March 23, 2015

 

																		Filed under 424(b)(3), Registration Statement No. 333-186728
												Pricing Supplement No. 196 - Dated Monday, March 23, 2015 (To: Prospectus Dated February 19, 2013, and Prospectus Supplement Dated February 19, 2013)
CUSIP Number		Principal Amount		Selling Price				Gross Concession				Net Proceeds		Coupon Rate				Coupon Frequency				Maturity Date				1st Coupon Date				1st Coupon Amount				Survivor’s Option				Product Ranking
26054LB51					100	%			1.250	%					2.250	%			Semi- Annual				04/15/2020				10/15/2015			$	12.06				Yes			Senior Unsecured Notes
Redemption Information: Callable at 100% on 04/15/2016 and every coupon date thereafter   Joint Lead Managers and Lead Agents: BofA Merrill Lynch, Incapital LLC Agents: Citi, Merrill Lynch, Morgan Stanley, UBS Securities LLC, Wells Fargo Advisors, LLC   The Dow Chemical Company InterNotes will be subject to redemption at the option of The Dow Chemical Company, in whole on the interest payment date occurring on 04/15/2016 and on any interest payment date thereafter at a redemption price equal to 100% of the principal amount of the The Dow Chemical Company InterNotes plus accrued interest thereon, if any, upon at least 30 days prior notice to the noteholder and the trustee, as described in the prospectus.
26054LB69					100	%			1.450	%					2.750	%			Semi- Annual				04/15/2022				10/15/2015			$	14.74				Yes			Senior Unsecured Notes
Redemption Information: Callable at 100% on 04/15/2016 and every coupon date thereafter   Joint Lead Managers and Lead Agents: BofA Merrill Lynch, Incapital LLC Agents: Citi, Merrill Lynch, Morgan Stanley, UBS Securities LLC, Wells Fargo Advisors, LLC   The Dow Chemical Company InterNotes will be subject to redemption at the option of The Dow Chemical Company, in whole on the interest payment date occurring on 04/15/2016 and on any interest payment date thereafter at a redemption price equal to 100% of the principal amount of the The Dow Chemical Company InterNotes plus accrued interest thereon, if any, upon at least 30 days prior notice to the noteholder and the trustee, as described in the prospectus.
26054LB77					100	%			1.800	%					3.200	%			Semi- Annual				04/15/2025				10/15/2015			$	17.16				Yes			Senior Unsecured Notes
Redemption Information: Callable at 100% on 04/15/2016 and every coupon date thereafter   Joint Lead Managers and Lead Agents: BofA Merrill Lynch, Incapital LLC Agents: Citi, Merrill Lynch, Morgan Stanley, UBS Securities LLC, Wells Fargo Advisors, LLC   The Dow Chemical Company InterNotes will be subject to redemption at the option of The Dow Chemical Company, in whole on the interest payment date occurring on 04/15/2016 and on any interest payment date thereafter at a redemption price equal to 100% of the principal amount of the The Dow Chemical Company InterNotes plus accrued interest thereon, if any, upon at least 30 days prior notice to the noteholder and the trustee, as described in the prospectus.

		Trade Date: Monday, March 30, 2015 @ 12:00 PM ET Settle Date: Thursday, April 2, 2015   Minimum Denomination/Increments: $1,000.00/$1,000.00 Initial trades settle flat and clear SDFS: DTC Book Entry only DTC Number 0235 via RBC Dain Rauscher Inc   If the maturity date or an interest payment date for any note is not a business day (as term is defined in prospectus), principal, premium, if any, and interest for that note is paid on the next business day, and no interest will accrue from, and after, the maturity date or interest payment date.   InterNotes® is a registered trademark of Incapital Holdings LLC. All Rights Reserved.		The Dow Chemical Company   The Dow Chemical Company InterNotes
The Dow Chemical Company 2030 Willard H. Dow Center Midland, Michigan 48674