PROSPECTUS SUPPLEMENT
(To prospectus dated November 6, 2017)
Summit Midstream Partners, LP
300,000 Units
9.50%
Series A
Fixed-to-Floating
Rate Cumulative Redeemable
Perpetual Preferred Units
(Liquidation Preference $1,000 per unit)
We are selling
300,000 of our 9.50% Series A
Fixed-to-Floating
Rate Cumulative Redeemable Perpetual Preferred Units, liquidation preference $1,000 per unit, representing limited
partner interests in Summit Midstream Partners, LP (Series A Preferred Units) in this offering.
Distributions on the Series A
Preferred Units are cumulative and compounding from the date of original issue and will be payable semi-annually in arrears on the 15th day of June and December of each year through and including December 15, 2022 and, thereafter, quarterly in
arrears on the 15th day of March, June, September and December of each year, when, as and if declared by our general partner. A
pro-rated
initial distribution on the Series A Preferred Units offered hereby
will be payable on December 15, 2017 in an amount equal to approximately $7.9167 per Series A Preferred Unit. Distributions on the Series A Preferred Units will be payable out of amounts legally available therefor from and including the date of
original issue to, but not including, December 15, 2022, at a rate equal to 9.50% per annum of the $1,000 liquidation preference. On and after December 15, 2022, distributions on the Series A Preferred Units will accumulate for each distribution
period at a percentage of the $1,000 liquidation preference equal to the three-month LIBOR plus a spread of 7.43%.
At any time on or
after December 15, 2022, we may redeem the Series A Preferred Units, in whole or in part, at the redemption prices set forth and as described under the caption Description of Our Series A Preferred UnitsRedemptionOptional
Redemption on or after December 15, 2022 plus an amount equal to all accumulated and unpaid distributions thereon to, but not including, the date of redemption, whether or not declared. In addition, upon the occurrence of certain rating agency
events as described under Description of Our Series A Preferred UnitsRedemptionOptional Redemption upon a Ratings Event, we may redeem the Series A Preferred Units, in whole but not in part, at a price of $1,020 per Series A
Preferred Unit plus an amount equal to all accumulated and unpaid distributions thereon to, but not including, the date of redemption, whether or not declared. If a change of control triggering event, as described under Description of Our
Series A Preferred UnitsChange of Control Triggering Event, occurs, each holder of our Series A Preferred Units may require us to repurchase all or a portion of such holders Series A Preferred Units at a purchase price of $1,010
per Series A Preferred Unit (101% of the liquidation preference) plus an amount equal to all accumulated and unpaid distributions thereon to, but not including, the date of settlement.
The Series A Preferred Units will rank, as to the payment of distributions and amounts payable on a liquidation event, senior to our common
units.
Investing in our Series A Preferred Units involves risks. See
Risk Factors
on
page S-17
of this prospectus supplement.
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Per Series A
Preferred Unit
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Total
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Public Offering Price
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$
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1,000.0000
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$
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300,000,000
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Underwriting Discount
(1)
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$
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20.0767
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$
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6,023,000
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Proceeds to Summit Midstream Partners, LP (before expenses)
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$
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979.9233
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$
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293,977,000
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(1)
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Please read Underwriting for a description of all compensation payable in connection with this offering.
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Delivery of the Series A Preferred Units is expected to be made on or about November 14, 2017.
Neither the Securities and Exchange Commission nor any state securities commission has approved or disapproved of these securities or
determined if this prospectus supplement or the accompanying base prospectus is truthful or complete. Any representation to the contrary is a criminal offense.
Joint
Book-Running Managers
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BofA Merrill Lynch
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Credit Suisse
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Morgan Stanley
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Wells Fargo Securities
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Senior Co-Managers
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BBVA
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BMO Capital Markets
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Deutsche Bank Securities
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ING
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RBC Capital Markets
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Regions Securities LLC
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TD Securities
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Co-Managers
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BB&T Capital Markets
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Capital One Securities
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Citigroup
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Citizens Capital Markets
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Prospectus supplement dated November 9, 2017.