UNDERWRITING AGREEMENT
June 19, 2002
To the Representative Named
on the Signature Page Hereof:
Dear Sirs:
Subject to the terms and conditions stated or incorporated by reference herein,
Consolidated Edison Company of New York, Inc (the "Company") hereby agrees to
sell to the Underwriters named in Schedule I hereto (the "Underwriters") and the
Underwriters hereby agree to purchase, severally and not jointly, the principal
amount set forth opposite their names in Schedule I hereto of the securities
specified in Schedule II hereto (the "Designated Securities").
The representative named on the signature page hereof (the "Representative")
represents that the Underwriters have authorized the Representative to enter
into this Underwriting Agreement and to act hereunder on their behalf.
Except as otherwise provided in Schedule II hereto each of the provisions of the
Company's Underwriting Agreement Basic Provisions, dated November 1, 1999, as
filed as Exhibit 1.2 to Registration Statement No. 333-90385 (the "Basic
Provisions"), is incorporated herein by reference in its entirety, and shall be
deemed to be a part of this Agreement to the same extent as if such provisions
had been set forth in full herein. Unless otherwise defined herein, terms
defined in the Basic Provisions are used herein as therein defined.
Payment for the Designated Securities will be made against delivery thereof to
the Representative for the accounts of the respective Underwriters at the time
and place and at the purchase price to the Underwriters set forth in Schedule II
hereto.
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If the foregoing is in accordance with your understanding, please sign and
return to us counterparts hereof, and upon acceptance hereof by you, on behalf
of each of the Underwriters, this letter and such acceptance hereof, including
the Basic Provisions incorporated herein by reference, shall constitute a
binding agreement between each of the Underwriters and the Company.
Very truly yours,
CONSOLIDATED EDISON COMPANY
OF NEW YORK, INC.
By Xxxxxx X. Xxxxxxx
Xxxxxx X. Xxxxxxx
Vice President and Treasurer
Confirmed and Accepted as of the date hereof on behalf of itself and each other
Underwriter, if any:
XXXXXXX XXXXX XXXXXX INC.
By: Yukari Saegusa
Yukari Saegusa
Vice President
SCHEDULE I
Principal Amount of
Designated Securities
Underwriter to be Purchased
Xxxxxxx Xxxxx Xxxxxx Inc. $260,000,000
BNP Paribas Securities Corp. 40,000,000
--------------
Total $300,000,000
SCHEDULE II
Title of Designated Securities:
5.625% Debentures, Series 2002 A.
Aggregate principal amount:
$300,000,000
Price to Public:
Initially 99.507% of the principal amount of the Designated Securities,
plus accrued interest, if any, from June 24, 2002 to the date of
delivery, and thereafter at market prices prevailing at the time of sale
or at negotiated prices.
Purchase Price by Underwriters:
99.394% of the principal amount of the Designated Securities, plus
accrued interest, if any, from June 24, 2002 to the date of delivery.
Specified funds for, and manner of, payment of purchase price:
Funds will be delivered by wire transfer pursuant to the Company's
written instructions to the Representative.
Indenture:
Indenture, dated as of December 1, 1990, between the Company and
JPMorgan Chase Bank (successor to The Chase Manhattan Bank), as Trustee,
as amended and supplemented by the First Supplemental Indenture, dated
as of March 6, 1996, between the Company and The Chase Manhattan Bank,
as Trustee.
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Maturity:
July 1, 2012
Interest Rate:
5.625% per annum.
Interest Payment Dates:
January 1, 2003 and thereafter semi-annually on each January 1 and
July 1.
Redemption Provisions:
None.
Sinking Fund Provisions:
None.
Time of Delivery:
10:00 a.m., on June 24, 2002.
Closing Location:
Room 1618-S at the Company, 0 Xxxxxx Xxxxx, Xxx Xxxx, XX 00000.
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Information furnished by or on behalf of the Underwriters for use in the
Prospectus for the Designated Securities:
1. The sentence regarding delivery of the Designated Securities on the
front cover of the Prospectus Supplement
Address of Representative:
Xxxxxxx Xxxxx Xxxxxx Inc.
000 Xxxxxxxxx Xxxxxx
Xxx Xxxx, XX 00000
Attention: Xxx X. Xxxxx
Managing Director
Captions in the Prospectus and Prospectus Supplement referred to in Section
6(c)(xi) of the Basic Provisions:
Description of Securities
Description of Debentures
Modification of Basic Provisions
Delete Section I (a) of the Basic Provisions in its entirety and substitute the
following:
"(a) Registration statements in respect of the Designated Securities have been
filed with the Securities and Exchange Commission (the "Commission"); the
registration statements have been declared effective by the Commission or become
effective upon filing; and no stop order suspending the effectiveness of the
registration statements has been issued and no proceeding for that purpose has
been initiated or threatened by the Commission. The Company proposes to file
pursuant to Rule 424 under the Securities Act of 1933 (the "Act") a prospectus
supplement specifically relating to the Designated Securities and has previously
advised the Underwriters of all information to be set forth therein. The term
"Registration Statement" means the aforesaid registration statements as amended
to the date of this Agreement. The term "Basic Prospectus" means the prospectus
included in the Company's registration statement No. 333-61008. The term
"Prospectus" means the Basic Prospectus together with the prospectus supplement
specifically relating to the Designated Securities, as first filed with the
Commission pursuant to Rule 424. The term "Preliminary Prospectus" means a
preliminary prospectus supplement specifically relating to the Designated
Securities together with the Basic Prospectus. As used herein, the terms
"Registration Statement", "Basic Prospectus", "Prospectus" and "Preliminary
Prospectus" shall include in each case the material, if any, incorporated by
reference therein."
Delete Section 4 (c) of the Basic Provisions in its entirety and substitute the
following:
"(b) To deliver to the Representative conformed copies of the Registration
Statement, and each amendment thereto, including exhibits thereto and documents
incorporated by reference therein, and to furnish to the Underwriters copies of
the Prospectus, and each amendment or supplement thereto, in such quantities as
the Representative may from time to time reasonably request, and, if the
delivery of a prospectus is required at any time in connection with the offering
or sale of the Designated Securities and if at that time any event shall have
occurred as a result of which the Prospectus would include an untrue statement
of a material fact or omit to state any material fact necessary in order to make
the statements therein, in the light of the circumstances under which they were
made when the Prospectus is delivered, not misleading, or, if for any other
reason it shall be necessary during the same period to amend or supplement the
Prospectus or to file under the Exchange Act any document incorporated by
reference in the Prospectus in order to comply with the Act or the Exchange Act,
to notify the Representative and upon its request to file the document and to
prepare and furnish without charge to the Underwriters and to any dealer in
securities as many copies as the Representative may from time to time reasonably
request of an amended Prospectus or a supplement to the Prospectus that will
correct the statement or omission or effect compliance;"
Delete Section 6 (d) of the Basic Provisions in its entirety and substitute the
following:
"The Representative shall have received at the Time of Delivery a letter from
PricewaterhouseCoopers LLP, dated the Time of Delivery, substantially in the
form theretofore supplied to and deemed satisfactory by the Representative."
