fwp
Filed pursuant to Rule 433
Registration No. 333-136224
Dated February 23, 2009
(BAXTER LOGO)
FINAL TERM SHEET
4.000% Notes Due 2014
     
Issuer:
  Baxter International Inc.
 
    
Expected Ratings:
  A3/A+/A (stable outlook / positive outlook / stable outlook)
 
    
Format:
  SEC Registered
 
    
Ranking:
  Senior Notes
 
    
Offering Size:
  $350,000,000 
 
    
Trade Date:
  February 23, 2009
 
    
Settlement Date:
  February 26, 2009 (T+3)
 
    
Maturity:
  March 1, 2014 
 
    
Interest Payment Dates:
  Semi-annually on each March 1st and September 1st
 
    
First Pay Date:
  September 1, 2009
 
    
Treasury Benchmark:
  1.750% due 01/31/14
 
    
UST Spot (PX / Yield):
  99-18 / 1.843% 
 
    
Spread to UST:
  +222 bps
 
    
Re-offer Yield to Maturity:
  4.063% 
 
    
Coupon:
  4.000% 
 
    
Issue Price:
  99.716% 
 
    
Day Count Basis:
  30/360 
 
    
Optional Redemption:
  Make Whole + 35 bps
 
    
Minimum Denomination:
  $2,000 x $1,000 

 

 

     
 
    
CUSIP / ISIN:
  071813AZ2 / US071813AZ23
 
    
Bookrunners:
  Deutsche Bank Securities Inc.
UBS Securities LLC
Citigroup Global Markets Inc.
Co-manager:
  Barclays Capital Inc.
     Note: 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 has 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 has filed with the SEC for more complete information about the issuer 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, any underwriter or any dealer participating in the offering will arrange to send you the prospectus if you request it. In the case of Deutsche Bank Securities Inc., you may request the prospectus by calling 1-800-503-4611; in the case of UBS Securities LLC, you may request the prospectus by calling 1-877-827-6444 ext. 561-3884; in the case of Citigroup Global Markets Inc., you may request the prospectus by calling 1-877-585-5407.