Issuer Free Writing Prospectus, dated March 6, 2012

Filed pursuant to Rule 433 under the Securities Act

Registration Statement No. 333-161243

 

BERRY PETROLEUM COMPANY

6 3/8% Senior Notes due 2022

Term Sheet

March 6, 2012

 

The following information supplements the preliminary prospectus supplement dated March 6, 2012 to the prospectus dated August 11, 2009.

 

Issuer:  

 

Berry Petroleum Company  

Security Description:  

 

Senior Notes  

Distribution:  

 

SEC Registered  

Face:  

 

$600,000,000

Net Proceeds to Issuer (before expenses):  

 

$589,500,000

Coupon:  

 

6 3/8

Maturity:  

 

September 15, 2022 

Offering Price:  

 

100.000%  

Yield to Maturity:  

 

6.375%

Spread to Treasury:  

 

+443 bps  

Benchmark:  

 

2.000% due February 15, 2022

Interest Payment Dates:  

 

March 15 and September 15, beginning September 15, 2012

Optional Redemption Call Schedule:

 

 

 

 

 

 

Year

 

Percentage

 

 

 

March 15, 2017

 

103.188

%

 

 

March 15, 2018

 

102.125

%

 

 

March 15, 2019

 

101.063

%

 

 

March 15, 2020 and thereafter

 

100.000

%

 

 

 

 

Make-Whole Amount:

 

Make-whole call prior to March 15, 2017, as described in the preliminary prospectus supplement, plus accrued and unpaid interest.

Equity Claw:

 

Up to 35% prior to March 15, 2015 at 106.375% of the principal amount of the Notes, plus accrued and unpaid interest.

Change of Control:  

 

Put @ 101% of principal plus accrued interest  

Trade Date:  

 

March 6, 2012 

Settlement Date:                        

 

March 9, 2012 (T+3)

CUSIP:  

 

085789 AF2

ISIN:  

 

US085789AF27

Joint Book-Running Managers:  

 

Wells Fargo Securities, LLC

BMO Capital Markets Corp.

Credit Suisse Securities (USA) LLC

J.P. Morgan Securities LLC

RBS Securities Inc.

SG Americas Securities, LLC

Senior Co-Managers:

 

RBC Capital Markets Corporation

Citigroup Global Markets Inc.

Mitsubishi UFJ Securities (USA), Inc.

U.S. Bancorp Investments, Inc.

Co-Managers:

 

BOSC, Inc.

KeyBanc Capital Markets Inc.

Lloyds Securities Inc.

Morgan Keegan & Company, Inc.

Natixis Securities Americas LLC

 



 

 

 

Scotia Capital (USA) Inc.

 

The issuer has filed a registration statement (including a prospectus) with the U.S. Securities and Exchange Commission (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 http://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 by calling Wells Fargo Securities, LLC toll-free at 1-800-326-5897, BMO Capital Markets Corp. at 1-212-702-1882, Credit Suisse Securities (USA) LLC at 1-800-221-1037, J.P. Morgan Securities LLC at 1-800-2445-8812, RBS Securities Inc. toll-free from inside the United States at 1-866-884-2071 or SG Americas Securities, LLC at 1-212-278-7128.