Filed Pursuant to Rule 433
Registration Statement No. 333-161016
June 2, 2010
PRICING TERM SHEET FOR THE 4.45% DEBENTURES, SERIES 2010 A
| Issuer: |
Consolidated Edison Company of New York, Inc. |
| Anticipated Ratings (Moody’s; S&P; Fitch)*: |
A3 (Stable); A- (Stable); A- (Stable) |
| Issue of Securities: |
4.45% Debentures, Series 2010 A due 2020 |
| Principal Amount: |
$350,000,000 |
| Interest Rate: |
4.45% per annum |
| Interest Payment Dates: |
June 15 and December 15, commencing on December 15, 2010 |
| Maturity: |
June 15, 2020 |
| Treasury Benchmark: |
3.50% due May 15, 2020 |
| US Treasury Yield: |
3.327% |
| Spread to Treasury: |
+115 basis points |
| Re-offer Yield: |
4.477% |
| Public Offering Price: |
99.783% |
| Optional Redemption: |
Make Whole at Treasury Rate +20 basis points |
| Pricing Date: |
June 2, 2010 |
| Settlement Date: |
June 7, 2010 (T+3) |
| CUSIP: |
209111EZ2 |
| Joint Book-Running Managers: |
Banc of America Securities LLC |
J.P. Morgan Securities Inc.
Morgan Stanley & Co. Incorporated
Wells Fargo Securities, LLC
| Co-Managers: |
KeyBanc Capital Markets Inc. |
The Williams Capital Group, L.P.
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 Banc of America Securities LLC toll free at 1-800-294-1322, J.P. Morgan Securities Inc. collect at 212-834-4533, Morgan Stanley & Co. Incorporated toll free at 1-866-718-1649, or Wells Fargo Securities, LLC toll-free at 1-800-326-5897.