FORM FWP
Filed pursuant to Rule 433
Registration No. 333-160966
Dated August 17, 2009
(BAXTER LOGO)
FINAL TERM SHEET
4.500% Senior Notes Due 2019
     
 
Issuer:
  Baxter International Inc.
 
Ratings:
  A3 / A+ / A (stable outlook / positive outlook / stable outlook)
 
Format:
  SEC Registered
 
Ranking:
  Senior Notes
 
Offering Size:
  $500,000,000 
 
Trade Date:
  August 17, 2009
 
Settlement Date:
  August 20, 2009 (T+3)
 
Maturity:
  August 15, 2019 
 
Interest Payment Dates:
  Semi-annually on each February 15th and August 15th 
 
First Pay Date:
  February 15, 2010 
 
Treasury Benchmark:
  3.625% due 08/15/2019 
 
Benchmark (Price / Yield):
  101-3+ / 3.492% 
 
Spread to UST:
  +105 bps
 
Re-offer Yield to Maturity:
  4.542% 
 
Coupon:
  4.500% 
 
Issue Price:
  99.666% 
 
Day Count Basis:
  30 / 360 
 
Optional Redemption:
  Make Whole + 20 bps 
 
Minimum Denomination:
  $2,000 x $1,000 
 
CUSIP / ISIN:
  071813 BA6 / US071813BA62 
 
Bookrunners:
  Banc of America Securities LLC
J.P. Morgan Securities Inc.
RBS Securities Inc.
Co-manager:
  Citigroup Global Markets Inc.
Credit Suisse Securities (USA) LLC
Goldman, Sachs & Co.
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 the offering will arrange to send you the prospectus if you request it. In the case of Banc of America Securities LLC, you may request the prospectus by calling 1-800-294-1322; in the case of J.P. Morgan Securities Inc., you may request the prospectus by calling 1-212-834-4533; in the case of RBS Securities Inc., you may request the prospectus by calling 1-866-884-2071.