Buckeye Partners, L.P.
Filed Pursuant to Rule 433
Issuer Free Writing Prospectus dated August 11, 2009
Registration Statement No. 333-155522
PRICING TERM SHEET
5.50% Senior Unsecured Notes due August 15, 2019
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Issuer: |
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Buckeye Partners, L.P. |
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Trade Date: |
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August 11, 2009 |
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Expected Settlement Date: |
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August 18, 2009 |
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Principal Amount: |
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$275,000,000 |
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Maturity Date: |
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August 15, 2019 |
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Coupon: |
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5.50% |
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Interest Payment Dates: |
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February 15 and August 15, commencing February 15, 2010 |
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Price to Public: |
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99.349% of principal amount |
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Net Proceeds: |
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$271,422,250 after deducting the underwriting discount |
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Benchmark Treasury: |
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3.125% due May 15, 2019 |
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Benchmark Treasury Yield: |
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3.711% |
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Spread to Benchmark Treasury: |
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187.5 bps |
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Yield to Maturity: |
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5.586% |
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Make-Whole Call: |
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MW + 30 bps |
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CUSIP: |
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118230AH4 |
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ISIN: |
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US118230AH45 |
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Ratings*: |
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Baa2 by Moody’s Investors Service, Inc. BBB by Standard & Poor’s Ratings Services |
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Joint Book-Running Managers: |
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Barclays Capital Inc. SunTrust Robinson Humphrey, Inc. BNP Paribas Securities Corp. Wells Fargo Securities, LLC |
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Co-Managers: |
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Banc of America Securities LLC Credit Suisse Securities (USA) LLC J.P. Morgan Securities Inc. UBS Securities LLC |
*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 this offering will arrange to send you the prospectus if you request it by calling Barclays Capital Inc. toll-free at 1-888-603-5847, SunTrust Robinson Humphrey, Inc. at 1-800-685-4786, BNP Paribas Securities Corp. toll-free at 1-800-854-5674 or Wells Fargo Securities, LLC toll-free at 1-800-326-5897.