Ventas, Inc. — Capital/Financing Update 2013

Sep 23, 2013

Issuer Free Writing Prospectus filed pursuant to Rule 433 supplementing the Preliminary Prospectus Supplement dated September 23, 2013 and the Prospectus dated April 2, 2012 Registration No. 333-180521

*VENTAS REALTY, LIMITED PARTNERSHIP*

*Fully and unconditionally guaranteed by Ventas, Inc.*

*Terms applicable to*

*$550,000,000 1.55% Senior Notes due 2016*

Issuer :	Ventas Realty, Limited Partnership
Guarantor :	Ventas, Inc.
Aggregate Principal Amount :	$550,000,000
Final Maturity Date :	September 26, 2016
Public Offering Price :	99.910%, plus accrued and unpaid interest, if any, from September 26, 2013
Coupon :	1.550%
Yield to Maturity :	1.581%
Benchmark Treasury :	0.875% due September 15, 2016
Benchmark Treasury Yield :	0.681%
Spread to Benchmark Treasury :	T+90 bps
Interest Payment Dates :	March 26 and September 26, commencing March 26, 2014
Optional Redemption :	The redemption price for notes that are redeemed before September 26, 2016 will be equal to (i) 100% of their principal amount, together with accrued and unpaid interest thereon, if any, to the date of redemption, plus (ii) a make-whole premium (T+15 bps).
Joint Book-Running Managers :	Goldman, Sachs & Co.
	J.P. Morgan Securities LLC
	Merrill Lynch, Pierce, Fenner & Smith
	Incorporated
	UBS Securities LLC
	Barclays Capital Inc.

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	Credit Agricole Securities (USA) Inc.
	Morgan Stanley & Co. LLC
Senior Co-Managers :	Jefferies LLC
	RBC Capital Markets, LLC
	RBS Securities Inc.
	TD Securities (USA) LLC
Co-Managers :	BNP Paribas Securities Corp.
	Fifth Third Securities, Inc.
	The Williams Capital Group, L.P.
CUSIP / ISIN :	92277G AA5 / US92277GAA58
Denominations :	$1,000 x $1,000
Trade Date :	September 23, 2013
Settlement Date :	September 26, 2013 (T+3)
Form of Offering :	SEC Registered (Registration No. 333-180521)

*Terms applicable to*

*$300,000,000 5.70% Senior Notes due 2043*

Issuer :	Ventas Realty, Limited Partnership
Guarantor :	Ventas, Inc.
Aggregate Principal Amount :	$300,000,000
Final Maturity Date :	September 30, 2043
Public Offering Price :	99.628%, plus accrued and unpaid interest from September 26, 2013
Coupon :	5.700%
Yield to Worst :	5.726%
Benchmark Treasury :	2.875% due May 15, 2043
Benchmark Treasury Yield :	3.776%
Spread to Benchmark Treasury :	T+195 bps
Interest Payment Dates :	March 30 and September 30, commencing March 30, 2014
Optional Redemption :	The redemption price for notes that are redeemed before March 30, 2043 will be equal to (i) 100% of their principal amount, together with accrued and unpaid interest thereon, if any, to the date of redemption, plus (ii) a make-whole premium (T+30 bps).

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	The redemption price for notes that are redeemed on or after March 30, 2043 will be equal to 100% of their principal amount, together with accrued and unpaid interest thereon, if any, to the date of redemption, and will not include a make-whole premium.
Joint Book-Running Managers :	Goldman, Sachs & Co.
	J.P. Morgan Securities LLC
	Merrill Lynch, Pierce, Fenner & Smith
	Incorporated
	UBS Securities LLC
	Barclays Capital Inc.
	Credit Agricole Securities (USA) Inc.
	Morgan Stanley & Co. LLC
Senior Co-Managers :	Jefferies LLC
	RBC Capital Markets, LLC
	RBS Securities Inc.
	TD Securities (USA) LLC
	Wells Fargo Securities, LLC
Co-Managers :	BB&T Capital Markets, a division of BB&T Securities, LLC
	BBVA Securities Inc.
	Mitsubishi UFJ Securities (USA), Inc.
	SMBC Nikko Securities America, Inc.
CUSIP / ISIN :	92277G AB3 / US92277GAB32
Denominations :	$1,000 x $1,000
Trade Date :	September 23, 2013
Settlement Date :	September 26, 2013 (T+3)
Form of Offering :	SEC Registered (Registration No. 333-180521)

*Additional Changes to the Preliminary Prospectus Supplement:*

On an as adjusted basis, after giving effect to the sale of the notes offered hereby and the application of the net proceeds therefrom, as if each had occurred on June 30, 2013, we would have had approximately $9.0 billion of outstanding indebtedness (excluding unamortized fair value adjustment and unamortized discounts).

Ventas, Inc. and the issuer have filed a registration statement (including a prospectus) with the 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 that Ventas, Inc. and the issuer have filed with the SEC, including the prospectus supplement, for more complete information about Ventas, Inc., the issuer and this offering. You may get these documents for free by visiting the SEC Web site at www.sec.gov. Alternatively, Ventas, Inc., the issuer, any underwriter or any dealer participating in the offering will arrange to send you the prospectus and the accompanying prospectus supplement if you request it by contacting Merrill Lynch, Pierce, Fenner & Smith Incorporated, 222 Broadway, 7th Floor, New York, NY 10038, Attention: Prospectus Department, or by calling: 1-800-294-1322 or emailing: dg.prospectus_requests@baml.com; Goldman, Sachs & Co., 200 West Street, New York, NY 10282 Attention: Prospectus Department, or by calling: 866-471-2526; J.P. Morgan Securities LLC by calling: 212-834-4533 (collect),

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or by fax: 212-834-6081; or UBS Securities LLC, 299 Park Avenue, New York, NY 10171, Attention: Prospectus Specialist, or by calling: 1-877-827-6444, ext. 561 3884.

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