They share a common feast day because according to tradition, they were executed on the same day during persecution under the Emperor Nero. Historical records indicate Peter was martyred in c. 64-67 AD and Paul in 67 AD. St. Peter was crucified upside since he considered himself unworthy to be martyred in the same manner as Christ. He was buried on Vatican Hill where 20th century excavations revealed his tomb on the site of the Basilica of St. Peter's. By virtue of his Roman citizenship, St. Paul was beheaded in the Via Ostia on the spot where the basilica bearing his name now stands.
A partial indulgence may be gained today by anyone who makes devout use of a religious article (crucifix, cross, rosary. scapular or medal) blessed by a priest. But if the article of devotion has been blessed by the Sovereign Pontiff or by any Bishop, the faithful, using it, can also gain a plenary indulgence, provided they also make a profession of faith (e.g. the Apostles Creed), and satisfy the usual conditions.
The Life of St. Peter
After the miraculous draught of fish on the Sea of Galilee, Peter received his definitive call and left wife, family, and occupation to take his place as leader of the Twelve. Thereafter we find him continually at Jesus' side, whether it be as spokesman of the apostolic college (John 6:68; Matt. 16:16), or as one specially favored (e.g., at the restoration to life of Jairus' daughter, at the transfiguration, during the agony in the garden). His sanguine temperament often led him into hasty, unpremeditated words and actions; his denial of Jesus during the passion was a salutary lesson. It accentuated a weakness in his character and made him humble.
After the ascension, Peter always took the leading role, exercising the office of chief shepherd that Christ had entrusted to him. He delivered the first sermon on Pentecost and received the first Gentiles into the Church (Cornelius; Acts 10:1). Paul went to Jerusalem "to see Peter." After his miraculous deliverance from prison (Easter, 42 A.D.), Peter "went to a different place," most probably to Rome. Details now become scanty; we hear of his presence at the Council of Jerusalem (Acts 15:1), and of his journey to Antioch (Gal. 2:11).
It is certain that Peter labored in Rome as an apostle, that he was the city's first bishop, and that he died there as a martyr, bound to a cross (67 A.D.). According to tradition he also was the first bishop of Antioch. He is the author of two letters, the first Christian encyclicals. His burial place is Christendom's most famous shrine, an edifice around whose dome are inscribed the words: Tu es Petrus, et super hanc petram aedificabo ecclesiam meam.
Excerpted from The Church's Year of Grace, Pius Parsch.
The Life of St. Paul
As a youth he went to Jerusalem to become immersed in the Law and had as a teacher the celebrated Gamaliel. He acquired skill as a tent-maker, a work he continued even as an apostle. At the time of Jesus' ministry he no longer was at Jerusalem; neither did he see the Lord during His earthly-life. Upon returning to the Holy City, Paul discovered a flourishing Christian community and at once became its bitter opponent. When Stephen impugned Law and temple, Paul was one of the first at his stoning; thereafter his fiery personality would lead the persecution. Breathing threats of slaughter against the disciples of Jesus, he was hurrying to Damascus when the grace of God effected his conversion.
After receiving baptism and making some initial attempts at preaching, Paul withdrew into the Arabian desert (c. 34-37 A.D.), where he prepared himself for his future mission. During this retreat he was favored with special revelations, Christ appearing to him personally. Upon his return to Damascus he began to preach but was forced to leave when the Jews sought to kill him. Then he went to Jerusalem "to see Peter." Barnabas introduced him to the Christian community, but the hatred of the Jews again obliged him to take secret flight. The following years (38-42 A.D.) he spent at Tarsus until Barnabas brought him to the newly founded Christian community at Antioch, where both worked a year for the cause of Christ; in the year 44 he made another journey to Jerusalem with the money collected for that famine stricken community.
The first major missionary journey (45-48) began upon his return as he and Barnabas brought the Gospel to Cyprus and Asia Minor (Acts 13-14). The Council of Jerusalem occasioned Paul's reappearance in Jerusalem (50). Spurred on by the decisions of the Council, he began the second missionary journey (51-53), traveling through Asia Minor and then crossing over to Europe and founding churches at Philippi, Thessalonia (his favorite), Berea, Athens, Corinth. He remained almost two years at Corinth, establishing a very flourishing and important community. In 54 he returned to Jerusalem for the fourth time.
Paul's third missionary journey (54-58) took him to Ephesus, where he labored three years with good success; after visiting his European communities, he returned to Jerusalem for a fifth time (Pentecost, 58). There he was seized by the Jews and accused of condemning the Law. After being held as a prisoner for two years at Caesarea, he appealed to Caesar and was sent by sea to Rome (60 A.D.). Shipwrecked and delayed on the island of Malta, he arrived at Rome in the spring of 61 and passed the next two years in easy confinement before being released. The last years of the saint's life were devoted to missionary excursions, probably including Spain, and to revisiting his first foundations. In 66 he returned to Rome, was taken prisoner, and beheaded a year later. His fourteen letters are a precious legacy; they afford a deep insight into a great soul.
Excerpted from The Church's Year of Grace, Pius Parsch.
Grant, we pray, O Lord our God, that we may be sustained by the intercession of the blessed Apostles Peter and Paul, that, as through them you gave your Church the foundations of her heavenly office, so through them you may help her to eternal salvation. Through our Lord Jesus Christ, your Son, who lives and reigns with you in the unity of the Holy Spirit, one God, for ever and ever. Amen.