SEC Form FWP filed by Blackstone Secured Lending Fund

Filed Pursuant to Rule 433

Issuer Free Writing Prospectus dated October 6, 2025

Relating to Preliminary Prospectus Supplement dated October 6, 2025 and

Prospectus dated July 11, 2025

Registration No. 333-288640

Blackstone Secured Lending Fund

$500,000,000 5.125% Notes due 2031

PRICING TERM SHEET

October 6, 2025

The following sets forth the final terms of the 5.125% Notes due 2031 (the “Notes”) and should only be read together with the preliminary prospectus supplement dated October 6, 2025 (the “Preliminary Prospectus Supplement”) related to the Notes, and supersedes the information in the Preliminary Prospectus Supplement to the extent inconsistent with the information in the Preliminary Prospectus Supplement. In all other respects, this pricing term sheet is qualified in its entirety by reference to the Preliminary Prospectus Supplement. Terms used herein but not defined herein shall have the respective meanings as set forth in the Preliminary Prospectus Supplement. All references to dollar amounts are references to U.S. dollars.

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.

Note:    **Blackstone Secured Lending Fund expects that delivery of the Notes will be made to investors on or about October 14, 2025, which will be the fifth business day following the date hereof. Under Rule 15c6-1 under the Exchange Act, trades in the secondary market are required to settle in one business day, unless the parties to any such trade expressly agree otherwise. Accordingly, purchasers who wish to trade notes prior to the business day before the delivery of the Notes will be required, by virtue of the fact that the Notes initially settle in T+5, to specify an alternative arrangement at the time of any such trade to prevent a failed settlement and should consult their own advisors.

Investors are advised to carefully consider the investment objectives, risks, charges and expenses of Blackstone Secured Lending Fund before investing. The Preliminary Prospectus Supplement contains this and other information about Blackstone Secured Lending Fund and should be read carefully before investing.

The information in the Preliminary Prospectus Supplement is not complete and may be changed. The Preliminary Prospectus Supplement and this pricing term sheet are not offers to sell any securities of Blackstone Secured Lending Fund and are not soliciting an offer to buy such securities in any state or jurisdiction where such offer and sale is not permitted. You may obtain these documents for free by visiting EDGAR on the SEC website at www.sec.gov. Alternatively, Blackstone Secured Lending Fund, any underwriter or any dealer participating in the offering will arrange to send you the Preliminary Prospectus Supplement if you request it from Citigroup Global Markets Inc., c/o Broadridge Financial Solutions, 1155 Long Island Avenue, Edgewood, New York 11717, Telephone: (800) 831-9146, email: [email protected]; Deutsche Bank Securities Inc., 1 Columbus Circle, New York, New York 10019, Attention: Debt Capital Markets Syndicate, email: [email protected] or by calling at 1-800-503-4611, Morgan Stanley & Co. LLC toll-free at +1-866-718-1649, SMBC Nikko Securities America, Inc. telephone: 1-888-868-6856, email: prospectus@smbcnikko-si.com or Truist Securities, Inc. 740 Battery Avenue SE, 3rd Floor, Atlanta, Georgia, 30339, Attn: Prospectus Department or toll-free at 1- 800-685-4786 or [email protected].

Any disclaimers or notices that may appear on this term sheet below the text of this legend are not applicable to this term sheet and should be disregarded. Such disclaimers may have been electronically generated as a result of this term sheet having been sent via, or posted on, Bloomberg or another electronic mail system.