Registration Statement No. 333-234311
Filed Pursuant to Rule 433
Supplementing the Preliminary
Prospectus Supplement
Dated March 20, 2020
(To Prospectus dated October 24, 2019)
Pricing Term Sheet
Fixed-Rate Notes due 2025, 2027, 2030, 2040 and 2050
The information in this pricing term sheet relates only to the offering of Notes (the “Notes Offering”) and should be read together with (i) the preliminary prospectus supplement dated March 20, 2020 relating to the Notes Offering, filed pursuant to Rule 424(b) under the Securities Act of 1933, as amended, including the documents incorporated by reference therein, and (ii) the related base prospectus dated October 24, 2019, which forms part of Registration Statement No. 333-234311.
Issuer: |
| The Coca-Cola Company |
Security: |
| 2.950% Notes due 2025 |
Offering Format: |
| SEC Registered |
Principal Amount: |
| $1,000,000,000 of 2025 Notes |
Maturity Date: |
| March 25, 2025 for 2025 Notes |
Coupon: |
| 2.950% per year for 2025 Notes |
|
| 4.125% per year for 2040 Notes |
Price to Public: |
| 99.917% of principal amount for 2025 Notes |
Yield to Maturity: |
| 2.968% for 2025 Notes |
Spread to Benchmark Treasury: |
| +245 bps for 2025 Notes |
Benchmark Treasury: |
| UST 1.125% due February 28, 2025 for 2025 Notes |
Benchmark Treasury Yield: |
| 0.518% for 2025 Notes |
Benchmark Treasury Price: |
| 102—30+ for 2025 Notes |
Interest Payment Dates: |
| Semiannually on March 25 and September 25, commencing on September 25, 2020 for the 2025 Notes |
|
| Semiannually on March 25 and September 25, commencing on September 25, 2020 for the 2027 Notes |
Make-Whole Call: |
| +40 bps for 2025 Notes |
Day Count Convention: |
| 30 / 360 |
Trade Date: |
| March 20, 2020 |
Settlement Date: |
| March 25, 2020 (T+3) |
CUSIP / ISIN: |
| 191216 CN8 / US191216CN81 for 2025 Notes |
Denominations: |
| $2,000 x $1,000 |
Expected Ratings*: |
| A1 by Moody’s Investors Service, Inc. |
Underwriters: |
| Bookrunners: |
|
| Co-Managers: |
|
| Mischler Financial Group, Inc. |
|
| Siebert Williams Shank & Co., LLC |
*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 U.S. Securities and Exchange Commission (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, Citigroup Global Markets Inc. toll-free at 1-800-831-9146, J.P. Morgan Securities LLC collect at 1-212-834-4533, or Wells Fargo Securities, LLC toll-free at 1-800-645-3751.
Any legends, disclaimers or other notices that may appear below are not applicable to this communication and should be disregarded. Such legends, disclaimers or other notices have been automatically generated as a result of this communication having been sent via Bloomberg or another system.