Filed Pursuant to Rule 433
Registration Statement No. 333-136268
March 23, 2009
PRICING TERM SHEET FOR THE 6.65% DEBENTURES, SERIES 2009 B
| Issuer: | Consolidated Edison Company of New York, Inc. | |
| Anticipated Ratings (Moody’s; S&P; Fitch)*: | A1 (Review for Possible Downgrade); A- (Stable); A- (Stable) | |
| Issue of Securities: | 6.65% Debentures, Series 2009 B due 2019 | |
| Principal Amount: | $475,000,000 | |
| Interest Rate and Interest Payment Dates: | 6.65% per annum, payable April 1 and October 1, commencing on October 1, 2009 | |
| Record Dates: | March 15 and September 15 | |
| Maturity: | April 1, 2019 | |
| Treasury Benchmark: | 2.75% due February 15, 2019 | |
| US Treasury Yield: | 2.67% | |
| Spread to Treasury: | +400 basis points | |
| Re-offer Yield: | 6.67% | |
| Public Offering Price: | per Debenture: 99.854%; Total: $474,306,500 | |
| Optional Redemption: | Make Whole at Treasury Rate +50 basis points | |
| Minimum Denomination: | $1,000 | |
| Settlement Date: | March 25, 2009 (T+2) | |
| CUSIP: | 209111 EX7 | |
| Joint Book-Running Managers: | Barclays Capital Inc. | |
| Morgan Stanley & Co. Incorporated | ||
| Wachovia Capital Markets, LLC | ||
| Co-Managers: | Cabrera Capital Markets, LLC | |
| KeyBanc Capital Markets Inc. | ||
| Mitsubishi UFJ Securities (USA), Inc. | ||
| Mizuho Securities USA Inc. | ||
| M.R. Beal & Company | ||
*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 1-888-227-2275, Ext. 2663, Morgan Stanley & Co. Incorporated toll free at 1-866-718-1649 or Wachovia Capital Markets, LLC toll free at 1-800-326-5897.