0001193125-20-087094.txt : 20200326 0001193125-20-087094.hdr.sgml : 20200326 20200326170935 ACCESSION NUMBER: 0001193125-20-087094 CONFORMED SUBMISSION TYPE: FWP PUBLIC DOCUMENT COUNT: 1 FILED AS OF DATE: 20200326 DATE AS OF CHANGE: 20200326 SUBJECT COMPANY: COMPANY DATA: COMPANY CONFORMED NAME: CONSOLIDATED EDISON CO OF NEW YORK INC CENTRAL INDEX KEY: 0000023632 STANDARD INDUSTRIAL CLASSIFICATION: ELECTRIC & OTHER SERVICES COMBINED [4931] IRS NUMBER: 135009340 STATE OF INCORPORATION: NY FISCAL YEAR END: 1231 FILING VALUES: FORM TYPE: FWP SEC ACT: 1934 Act SEC FILE NUMBER: 333-226539 FILM NUMBER: 20746889 BUSINESS ADDRESS: STREET 1: 4 IRVING PL CITY: NEW YORK STATE: NY ZIP: 10003 BUSINESS PHONE: 2124604600 MAIL ADDRESS: STREET 1: 4 IRVING PL CITY: NEW YORK STATE: NY ZIP: 10003 FILED BY: COMPANY DATA: COMPANY CONFORMED NAME: CONSOLIDATED EDISON CO OF NEW YORK INC CENTRAL INDEX KEY: 0000023632 STANDARD INDUSTRIAL CLASSIFICATION: ELECTRIC & OTHER SERVICES COMBINED [4931] IRS NUMBER: 135009340 STATE OF INCORPORATION: NY FISCAL YEAR END: 1231 FILING VALUES: FORM TYPE: FWP BUSINESS ADDRESS: STREET 1: 4 IRVING PL CITY: NEW YORK STATE: NY ZIP: 10003 BUSINESS PHONE: 2124604600 MAIL ADDRESS: STREET 1: 4 IRVING PL CITY: NEW YORK STATE: NY ZIP: 10003 FWP 1 d866738dfwp.htm FWP FWP

Filed Pursuant to Rule 433

Registration Statement No. 333-226539

March 26, 2020

PRICING TERM SHEET FOR THE 3.95% DEBENTURES, SERIES 2020 B

 

Issuer:

   

Consolidated Edison Company of New York, Inc.

Anticipated Ratings (Moody’s; S&P; Fitch)*:

   

Baa1 (Stable); A- (Stable); A- (Negative)

Issue of Securities:

   

3.95% Debentures, Series 2020 B due 2050

Principal Amount:

   

$1,000,000,000

Interest Rate:

   

3.95% per annum

Interest Payment Dates:

   

April 1 and October 1 commencing on October 1, 2020

Maturity Date:

   

April 1, 2050

Benchmark Treasury:

   

2.375% due November 15, 2049

Benchmark Treasury Price / Yield:

   

122-17 / 1.438%

Spread to Benchmark Treasury:

   

+255 basis points

Yield to Maturity:

   

3.988%

Public Offering Price:

   

99.338% of the principal amount

Optional Redemption Provisions:

   

Make Whole call at any time prior to October 1, 2049 (the “par call date”) at Treasury Rate +40 basis points (calculated to the par call date)

Callable on or after the par call date at par

Pricing Date:

   

March 26, 2020

Settlement Date:

   

March 31, 2020 (T+3)

CUSIP:

   

209111 FY4

Joint Book-Running Managers:

   

Barclays Capital Inc.

BofA Securities, Inc.

J.P. Morgan Securities LLC

Mizuho Securities USA LLC

Citigroup Global Markets Inc.

KeyBanc Capital Markets Inc.

MUFG Securities Americas Inc.

Scotia Capital (USA) Inc.

SMBC Nikko Securities America, Inc.

U.S. Bancorp Investments, Inc.

Co-Managers:

   

PNC Capital Markets LLC

TD Securities (USA) LLC

Loop Capital Markets LLC

*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.

The issuer has filed a registration statement (including a prospectus) with the 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 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 Barclays Capital Inc. toll-free at 1-888-603-5847, BofA Securities, Inc. toll-free at 1-800-294-1322, J.P. Morgan Securities LLC collect at 1-212-834-4533 or Mizuho Securities USA LLC toll-free at 1-866-271-7403.