Registration Statement No. 333-234311
Filed Pursuant to Rule 433
Supplementing the Preliminary
Prospectus Supplement
Dated April 29, 2020
(To Prospectus dated October 24, 2019)
Pricing Term Sheet
Fixed-Rate Notes due 2027, 2030, 2040, 2050 and 2060
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 April 29, 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: |
| 1.450% Notes due 2027 |
Offering Format: |
| SEC Registered |
Principal Amount: |
| $1,500,000,000 of 2027 Notes |
Maturity Date: |
| June 1, 2027 for 2027 Notes |
Coupon: |
| 1.450% per year for 2027 Notes |
|
| 2.600% per year for 2050 Notes |
Price to Public: |
| 99.879% of principal amount for 2027 Notes |
Yield to Maturity: |
| 1.468% for 2027 Notes |
Spread to Benchmark Treasury: |
| +95 bps for 2027 Notes |
Benchmark Treasury: |
| UST 0.625% due March 31, 2027 for 2027 Notes |
Benchmark Treasury Yield: |
| 0.518% for 2027 Notes |
Benchmark Treasury Price: |
| 100—23 ¼ for 2027 Notes |
Interest Payment Dates: |
| Semiannually on June 1 and December 1, commencing on December 1, 2020 for the 2027 Notes |
|
| Semiannually on June 1 and December 1, commencing on December 1, 2020 for the 2030 Notes |
Make-Whole Call: |
| +15 bps for 2027 Notes |
Day Count Convention: |
| 30 / 360 |
Trade Date: |
| April 29, 2020 |
Settlement Date: |
| May 1, 2020 (T+2) |
CUSIP / ISIN: |
| 191216 CU2 / US191216CU25 for 2027 Notes |
Denominations: |
| $2,000 x $1,000 |
Expected Ratings*: |
| A1 by Moody’s Investors Service, Inc. |
Underwriters: |
| Joint Book-Running Managers: |
|
| Goldman Sachs & Co. |
|
| Co-Managers: |
*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 Barclays Capital Inc. toll free at 1-888-603-5847, BNP Paribas Securities Corp. toll free at 1-800-854-5674, Deutsche Bank Securities Inc. toll free at 1-800-503-4611, HSBC Securities (USA) Inc. toll free at 1-866-811-8049, Morgan Stanley & Co. LLC toll free at 1-866-718-1649, Santander Investment Securities Inc. toll free at 1-855-403-3636, Goldman Sachs & Co. toll free at 1-866-471-2526, or Standard Chartered Bank toll free at 1-877-308-2182.
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.