0001193125-23-280693.txt : 20231120 0001193125-23-280693.hdr.sgml : 20231120 20231120163558 ACCESSION NUMBER: 0001193125-23-280693 CONFORMED SUBMISSION TYPE: FWP PUBLIC DOCUMENT COUNT: 1 FILED AS OF DATE: 20231120 DATE AS OF CHANGE: 20231120 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: 231423243 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 d824628dfwp.htm FWP FWP

Filed Pursuant to Rule 433

Registration Statement No. 333-258512

November 20, 2023

PRICING TERM SHEET

5.50% DEBENTURES, SERIES 2023 B

 

Issuer:    Consolidated Edison Company of New York, Inc. (the “Issuer”)
Anticipated Ratings (Moody’s; S&P; Fitch)*:    A3 (Stable); A- (Stable); A- (Stable)
Issue of Securities:    5.50% Debentures, Series 2023 B due 2034
Principal Amount:    $600,000,000
Interest Rate:    5.50% per annum
Interest Payment Dates:    March 15 and September 15 commencing on March 15, 2024
Maturity Date:    March 15, 2034
Benchmark Treasury:    4.500% due November 15, 2033
Benchmark Treasury Price / Yield:    100-18+ / 4.428%
Spread to Benchmark Treasury:    +115 basis points
Yield to Maturity:    5.578%
Public Offering Price:    99.403% of the principal amount
Optional Redemption Provisions:   

Make Whole call at any time prior to December 15, 2033 (the “par call date”) at Treasury Rate +20 basis points (calculated to the par call date)

 

Callable on or after December 15, 2033 at par

Pricing Date:    November 20, 2023
Settlement Date:    November 22, 2023 (T+2)
CUSIP:    209111 GF4 / US209111GF42

Joint Book-Running Managers:   

BofA Securities, Inc.

Mizuho Securities USA LLC

J.P. Morgan Securities LLC

TD Securities (USA) LLC

Wells Fargo Securities, LLC

CIBC World Markets Corp.

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 BofA Securities, Inc. toll-free at 1-800-294-1322 or by email at dg.prospectus_requests@bofa.com, Mizuho Securities USA LLC toll-free at 1-866-271-7403, J.P. Morgan Securities LLC collect at 1-212-834-4533, TD Securities (USA) LLC toll-free at 1-855-495-9846, or Wells Fargo Securities, LLC toll-free at 1-800-645-3751.