0001193125-22-281223.txt : 20221109 0001193125-22-281223.hdr.sgml : 20221109 20221109161402 ACCESSION NUMBER: 0001193125-22-281223 CONFORMED SUBMISSION TYPE: FWP PUBLIC DOCUMENT COUNT: 1 FILED AS OF DATE: 20221109 DATE AS OF CHANGE: 20221109 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: 333-258512 FILM NUMBER: 221372767 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 d418603dfwp.htm FWP FWP

Filed Pursuant to Rule 433

Registration Statement No. 333-258512

November 9, 2022

PRICING TERM SHEET

6.15% DEBENTURES, SERIES 2022 A

 

Issuer:    Consolidated Edison Company of New York, Inc. (the “Issuer”)
Anticipated Ratings (Moody’s; S&P; Fitch)*:    Baa1 (Stable); A- (Stable); A- (Stable)
Issue of Securities:    6.15% Debentures, Series 2022 A due 2052
Principal Amount:    $700,000,000
Interest Rate:    6.15% per annum
Interest Payment Dates:    May 15 and November 15 commencing on May 15, 2023
Maturity Date:    November 15, 2052
Benchmark Treasury:    2.875% due May 15, 2052
Benchmark Treasury Price / Yield:    75-22 / 4.345%
Spread to Benchmark Treasury:    +185 basis points
Yield to Maturity:    6.195%
Public Offering Price:    99.390% of the principal amount
Optional Redemption Provisions:   

Make Whole call at any time prior to May 15, 2052 (the “par call date”) at Treasury Rate +30 basis points (calculated to the par call date)

Callable on or after May 15, 2052 at par

Pricing Date:    November 9, 2022
Settlement Date:    November 14, 2022 (T+2)
CUSIP:    209111 GD9

Joint Book-Running Managers:   

BNY Mellon Capital Markets, LLC

BofA Securities, Inc.
J.P. Morgan Securities LLC

Wells Fargo Securities, LLC

PNC Capital Markets LLC

Scotia Capital (USA) Inc.

Co-Managers:   

Loop Capital Markets LLC

Samuel A. Ramirez & Company, Inc.

 

*

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 BNY Mellon Capital Markets, LLC toll-free at 1-800-269-6864, BofA Securities, Inc. toll-free at 1-800-294-1322 or by email at dg.prospectus_requests@bofa.com, J.P. Morgan Securities LLC collect at 1-212-834-4533 or Wells Fargo Securities, LLC toll-free at 1-800-645-3751.