As filed with
the Securities and Exchange Commission on October 28, 2022
Registration
No. 333-
UNITED STATES
SECURITIES
AND EXCHANGE COMMISSION
Washington,
D.C. 20549
FORM S-3
REGISTRATION
STATEMENT UNDER
THE SECURITIES
ACT OF 1933
(Exact name of
registrant as specified in its charter)
Delaware |
58-0628465 |
(State
or other jurisdiction of
incorporation
or organization) |
(I.R.S.
Employer
Identification
Number) |
One Coca-Cola Plaza
Atlanta, Georgia 30313
(404) 676-2121
(Address, including zip code, and telephone number, including area code, of registrant’s principal executive offices)
Monica
Howard Douglas
Senior Vice President and General Counsel
The Coca-Cola Company
One Coca-Cola Plaza
Atlanta, Georgia 30313
(404) 676-2121
(Name, address, including zip code, and telephone number, including area code, of agent for
service)
Copy
to:
Dwight
S. Yoo
Skadden, Arps, Slate, Meagher & Flom LLP
One Manhattan West
New York, NY 10001
(212) 735-3000
Approximate
date of commencement of proposed sale to the public:
From time to time after the effective date of this registration statement as determined by the registrant.
If the
only securities being registered on this Form are being offered pursuant to dividend or interest reinvestment plans, please check
the following box. o
If any
of the securities being registered on this Form are to be offered on a delayed or continuous basis pursuant to Rule 415 under
the Securities Act of 1933, other than securities offered only in connection with dividend or interest reinvestment plans, check
the following box. x
If this
Form is filed to register additional securities for an offering pursuant to Rule 462(b) under the Securities Act, please check
the following box and list the Securities Act registration statement number of the earlier effective registration statement for
the same offering. o
If this
Form is a post-effective amendment filed pursuant to Rule 462(c) under the Securities Act, check the following box and list the
Securities Act registration statement number of the earlier effective registration statement for the same offering. o
If this
Form is a registration statement pursuant to General Instruction I.D. or a post-effective amendment thereto that shall become
effective upon filing with the Commission pursuant to Rule 462(e) under the Securities Act, check the following box. x
If this
Form is a post-effective amendment to a registration statement filed pursuant to General Instruction I.D. filed to register additional
securities or additional classes of securities pursuant to Rule 413(b) under the Securities Act, check the following box. o
Indicate
by check mark whether the registrant is a large accelerated filer, an accelerated filer, a non-accelerated filer, a smaller reporting
company or an emerging growth company. See the definitions of “large accelerated filer,” “accelerated filer,”
“smaller reporting company” and “emerging growth company” in Rule 12b-2 of the Exchange Act.
Large
accelerated filer |
x |
Accelerated
filer |
o |
Non-accelerated
filer |
o |
Smaller
reporting company |
o |
|
|
Emerging
growth company |
o |
If an
emerging growth company, indicate by check mark if the registrant has elected not to use the extended transition period for complying
with any new or revised financial accounting standards provided pursuant to Section 7(a)(2)(B) of Securities Act.
PROSPECTUS
Debt
Securities
Common Stock
Preferred Stock
Warrants
Depositary Shares
Purchase Contracts
We may offer,
issue and sell from time to time, together or separately:
| · | debt
securities, which may be senior or subordinated and may be convertible; |
| · | shares
of our common stock; |
| · | shares
of our preferred stock; |
| · | warrants
to purchase debt or equity securities; |
We may offer
and sell these securities to or through one or more underwriters, dealers and agents, or directly to purchasers, on a continuous
or delayed basis. In addition, selling stockholders may offer and sell, from time to time, these securities on terms described
in a prospectus supplement.
This prospectus
describes some of the general terms that may apply to these securities. The specific terms of any securities to be offered will
be described in a prospectus supplement. The prospectus supplement may also add, update or change information contained in this
prospectus. You should read this prospectus and the applicable prospectus supplement carefully before you make your investment
decision.
Our common
stock is listed on the New York Stock Exchange under the trading symbol “KO.” Unless stated otherwise in a prospectus
supplement, none of these securities will be listed on any securities exchange.
This prospectus
may not be used to sell securities unless accompanied by a prospectus supplement.
You should
carefully read and consider the risk factors incorporated by reference into this prospectus from our Annual Report on Form 10-K
for the year ended December 31, 2021, and any subsequent periodic reports and other information that we file with the Securities
and Exchange Commission before you invest in our securities.
Neither
the Securities and Exchange Commission nor any state securities commission has approved or disapproved of these securities or
passed upon the accuracy or adequacy of this prospectus or any related prospectus supplement. Any representation to the contrary
is a criminal offense.
The date
of this prospectus is October 28, 2022.
TABLE
OF CONTENTS
In this
prospectus, except as otherwise indicated or the context otherwise requires, the terms “The Coca-Cola Company,” the
“Company,” “we,” “us” and “our” mean The Coca-Cola Company and all entities included
in our consolidated financial statements.
ABOUT
THIS PROSPECTUS
This prospectus
is part of an “automatic shelf” registration statement that we filed with the Securities and Exchange Commission (the
“SEC”) as a “well-known seasoned issuer” as defined in Rule 405 under the Securities Act of 1933, as amended
(the “Securities Act”). By using a shelf registration statement, we may offer and sell, from time to time:
| · | debt
securities, which may be senior or subordinated and may be convertible; |
| · | shares
of our common stock; |
| · | shares
of our preferred stock; |
| · | warrants
to purchase debt or equity securities; |
either separately
or in units, in one or more offerings. This prospectus provides you with a general description of those securities. In addition,
selling stockholders may offer and sell, from time to time, these securities on terms described in a prospectus supplement. Each
time we or selling stockholders sell securities, we will provide a prospectus supplement that will contain specific information
about the terms of that offering and the securities offered. The prospectus supplement may also add, update, change or supersede
information contained in this prospectus. If there is any inconsistency between the information in this prospectus and any prospectus
supplement, you should rely on the information in the prospectus supplement. You should read this prospectus and the applicable
prospectus supplement together with the additional information described herein under the heading “Where You Can Find More
Information.”
WHERE
YOU CAN FIND MORE INFORMATION
You may obtain
from the SEC, through the SEC’s website, a copy of the registration statement on Form S-3, including exhibits, that we have
filed with the SEC to register the securities offered under this prospectus. This prospectus is part of the registration statement
and does not contain all the information in the registration statement. Any statement made in this prospectus concerning a contract
or other document of ours is not necessarily complete, and you should read the documents that are filed as exhibits to the registration
statement or otherwise filed with the SEC for a more complete understanding of the document or matter. Each such statement is
qualified in all respects by reference to the document to which it refers.
We file annual,
quarterly and current reports, proxy statements and other information with the SEC. Our SEC filings are available to the public
free of charge at the SEC’s website at www.sec.gov and on our corporate website at www.coca-colacompany.com. Information
on our website does not constitute part of, and is not incorporated by reference into, this prospectus or any accompanying prospectus
supplement.
We “incorporate
by reference” into this prospectus documents we file with the SEC, which means that we can disclose important information
to you by referring you to those documents. The information incorporated by reference is an important part of this prospectus.
Some information contained in this prospectus updates the information incorporated by reference, and information that we file
subsequently with the SEC will automatically update this prospectus. In other words, in the case of a conflict or inconsistency
between information set forth in this prospectus and information that we file later and incorporate by reference into this prospectus,
you should rely on the information contained in the document that was filed later.
We incorporate
by reference into this prospectus the documents listed below and any filings we make with the SEC under Sections 13(a), 13(c),
14 or 15(d) of the Securities Exchange Act of 1934, as amended (the “Exchange Act”) after the date of this prospectus
and prior to the time that all the securities offered by this prospectus have been issued as described in this prospectus (other
than, in each case, documents or information deemed to have been “furnished” and not “filed” in accordance
with SEC rules):
| · | our
Annual Report on Form 10-K for the year ended December 31, 2021, filed with the SEC on
February 22, 2022; |
| · | our
Quarterly Report on Form 10-Q for the quarterly period ended April 1, 2022, filed with
the SEC on April 28, 2022, |
| · | our
Quarterly Report on Form 10-Q for the quarterly period ended July 1, 2022, filed with
the SEC on July 27, 2022; |
| · | our
Quarterly Report on Form 10-Q for the quarterly period ended September 30, 2022, filed
with the SEC on October 26, 2022; |
| · | portions
of our Definitive Proxy Statement on Schedule 14A, filed with the SEC on March 11, 2022,
solely to the extent incorporated by reference into Part III of our Annual Report on
Form 10-K for the year ended December 31, 2021; and |
| · | the
descriptions of the common stock set forth in our registration statements filed with
the SEC pursuant to Section 12 of the Exchange Act, and any amendment or report filed
for the purpose of updating those descriptions (including Exhibit 4.1 to our Annual Report
on Form 10-K for the year ended December 31, 2021). |
You may request
a copy of the registration statement, the above filings and any future filings that are incorporated by reference into this prospectus,
other than an exhibit to a filing unless that exhibit is specifically incorporated by reference into that filing, at no cost,
by writing or calling us at the following address: Office of the Secretary, The Coca-Cola Company, One Coca-Cola Plaza, Atlanta,
Georgia 30313; telephone: (404) 676-2121.
You should
rely only on the information contained or incorporated by reference in this prospectus, any accompanying prospectus supplement
or any free writing prospectus filed by us with the SEC and any information about the terms of securities offered conveyed to
you by us, our underwriters or agents. We have not authorized anyone else to provide you with additional or different information.
These securities are only being offered in jurisdictions where the offer is permitted. You should not assume that the information
contained in this prospectus, any accompanying prospectus supplement or any free writing prospectus is accurate as of any date
other than their respective dates.
CAUTIONARY
NOTE REGARDING FORWARD-LOOKING STATEMENTS
This prospectus,
any accompanying prospectus supplement and the documents incorporated by reference herein may contain information that may constitute
“forward-looking statements” under U.S. federal securities laws. Generally, the words “believe,” “expect,”
“intend,” “estimate,” “anticipate,” “project,” “will” and similar
expressions identify forward-looking statements, which generally are not historical in nature. However, the absence of these words
or similar expressions does not mean that a statement is not forward-looking. All statements that address operating performance,
events or developments that we expect or anticipate will occur in the future — including statements relating to volume
growth, share of sales and earnings per share growth, and statements expressing general views about future operating results —
are forward-looking statements. Management believes that these forward-looking statements are reasonable as and when made. However,
caution should be taken not to place undue reliance on any such forward-looking statements because such statements speak only
as of the date when made. Our Company undertakes no obligation to publicly update or revise any forward-looking statements, whether
as a result of new information, future events or otherwise, except as required by law. In addition, forward-looking statements
are subject to certain risks and uncertainties that could cause our Company’s actual results to differ materially from historical
experience and our present expectations or projections. These risks and uncertainties include, but are not limited to, the possibility
that the assumptions used to calculate our estimated aggregate incremental tax and interest liability related to the potential
unfavorable outcome of the ongoing tax dispute with the U.S. Internal Revenue Service could significantly change; those described
in our Annual Report on Form 10-K for the year ended December 31, 2021 and in our Quarterly Report on Form 10-Q
for the quarter ended April 1, 2022; and those described from time to time in our future reports filed with the Securities and
Exchange Commission.
OUR
COMPANY
The Coca-Cola
Company is a total beverage company, and beverage products bearing our trademarks, sold in the United States since 1886, are now
sold in more than 200 countries and territories. We own or license and market numerous beverage brands, which we group into the
following categories: Trademark Coca-Cola; sparkling flavors; hydration, sports, coffee and tea; nutrition, juice, dairy and plant-based
beverages; and emerging beverages. We own and market five of the world’s top six nonalcoholic sparkling soft drink brands:
Coca-Cola, Sprite, Fanta, Diet Coke and Coca-Cola Zero Sugar.
We make our
branded beverage products available to consumers throughout the world through our network of independent bottling partners, distributors,
wholesalers and retailers as well as our consolidated bottling and distribution operations. Beverages bearing trademarks owned
by or licensed to the Company account for 2.1 billion of the approximately 63 billion servings of all beverages consumed worldwide
every day.
We believe
our success depends on our ability to connect with consumers by providing them with a wide variety of beverage options to meet
their desires, needs and lifestyles. Our success further depends on the ability of our people to execute effectively, every day.
The Coca-Cola
Company was incorporated in September 1919 under the laws of the State of Delaware and succeeded to the business of a Georgia
corporation with the same name that had been organized in 1892.
Our principal
office is located at One Coca-Cola Plaza, Atlanta, Georgia 30313, and our telephone number at that address is (404) 676-2121.
We maintain a website at www.coca-colacompany.com where general information about us is available. Information on our website
does not constitute part of, and is not incorporated by reference into, this prospectus or the accompanying prospectus supplement.
USE
OF PROCEEDS
Except as
may be otherwise set forth in the applicable prospectus supplement accompanying this prospectus, the net proceeds from the sale
of the securities by us will be used for general corporate purposes, including:
| · | acquisitions
of or investments in businesses or assets; |
| · | redemption
and repayment of short-term or long-term borrowings; and |
| · | purchases
of our common stock. |
Pending application
of the net proceeds, we may temporarily invest the net proceeds in short-term marketable securities.
We will not
receive any proceeds from the sale of securities by selling stockholders.
DESCRIPTION
OF DEBT SECURITIES
This section
describes the general terms and provisions of the debt securities. The applicable prospectus supplement will describe the specific
terms of the debt securities offered by that prospectus supplement and any general terms outlined in this section that will not
apply to those debt securities.
Any debt securities
will be either our senior unsecured obligations issued in one or more series, which we refer to as the “senior debt securities,”
or our subordinated unsecured obligations issued in one or more series, which we refer to as the “subordinated debt securities.”
We will issue the senior debt securities under an amended and restated indenture between us and Deutsche Bank Trust Company Americas,
as successor to Bankers Trust Company, as trustee, dated as of April 26, 1988, as amended, which we refer to as the “senior
indenture.” We will issue the subordinated debt securities under an indenture to be entered into between us and Deutsche
Bank Trust Company Americas, as trustee, which we refer to as the “subordinated indenture.” We refer to the senior
indenture and the subordinated indenture, collectively, as the “indentures.” As used in this prospectus, “debt
securities” means the debentures, notes, bonds and other evidences of indebtedness that we issue and the trustee authenticates
and delivers under the indentures. The indentures and all debt securities issued under the indentures will be governed by and
construed in accordance with the laws of the State of New York. Additionally, the indentures are subject to the provisions of
the Trust Indenture Act of 1939, as amended.
We have summarized
selected terms and provisions of the indentures in this section. We have also incorporated by reference the indentures as exhibits
to the registration statement of which this prospectus forms a part. You should read the indentures for additional information
before you buy any debt securities. See “Where You Can Find More Information” for information on how to obtain copies
of the indentures. The summary that follows includes references to section numbers of the indentures (as supplemented by the first
supplemental indenture to the senior indenture, dated as of February 24, 1992, and the second supplemental indenture to the senior
indenture, dated as of November 1, 2007, in some instances) so that you can more easily locate these provisions. Unless otherwise
indicated, section references are the same for the senior indenture and the subordinated indenture. Capitalized terms used but
not defined in this summary have the meanings specified in the indentures.
General
The senior
debt securities will rank equally and ratably with our other unsecured and unsubordinated obligations. The subordinated debt securities
will be subordinated in right of payment to the prior payment in full of our senior debt, including any senior debt securities,
as described below under “Subordinated Indenture Provisions—Subordination.” The debt securities will rank junior
to all of our currently existing and future secured debt.
We are not
limited as to the amount of debt securities that we can issue under the indentures. We may issue debt securities under the indentures
in one or more series, each with different terms, up to the aggregate principal amount which we may authorize from time to time.
We also have the right to “reopen” a previous issue of a series of debt securities by issuing additional debt securities
of such series. (Section 3.01).
A prospectus
supplement relating to a series of debt securities being offered will include specific terms relating to that offering. In addition
to stating whether the securities will be senior or subordinated, these terms will include some or all of the following:
| · | the
title and type of the debt securities; |
| · | the
total principal amount of debt securities of that series that are authorized and outstanding
as of the most recent date; |
| · | any
limit on the total principal amount of the debt securities; |
| · | the
price at which the debt securities will be issued; |
| · | the
date or dates on which the principal of and premium, if any, on the debt securities will
be payable; |
| · | the
maturity date of the debt securities; |
| · | the
minimum denominations in which the debt securities will be issued; |
| · | if
the debt securities will bear interest; |
| · | the
interest rate on the debt securities or the method of calculating the interest rate; |
| · | the
date from which interest will accrue; |
| · | the
record and interest payment dates for the debt securities; |
| · | the
first interest payment date; |
| · | the
place or places at which the principal or premium, if any, and interest, if any, on the
debt securities will be paid; |
| · | any
optional redemption provisions that would permit us or the holders of the debt securities
to elect redemption of the debt securities prior to their final maturity; |
| · | any
sinking fund or mandatory redemption or retirement provisions that would obligate us
to redeem the debt securities prior to their final maturity; |
| · | the
currency or currencies in which the debt securities will be denominated and payable,
if other than U.S. dollars; |
| · | any
provisions that would permit us or the holders of the debt securities to elect the currency
or currencies in which the debt securities are paid; |
| · | the
portion of the principal amount of the debt securities that will be payable upon declaration
or acceleration of maturity of the debt securities (if other than the principal amount
of the debt securities); |
| · | whether
the provisions described under the heading “Defeasance of the Indentures and Securities”
below apply to the debt securities; |
| · | whether
the provisions of some or all of the covenants described under the heading “Restrictive
Covenants” below apply to the debt securities; |
| · | any
changes to or additional Events of Default (as defined under the heading “Event
of Default” below) or covenants; |
| · | whether
the debt securities will be issued in whole or in part in the form of global securities
and, if so, the depositary for those global securities; |
| · | any
special tax implications of the debt securities; |
| · | for
the subordinated debt securities, whether the specific subordination provisions applicable
to the subordinated debt securities are other than as set forth in the subordinated indenture; |
| · | whether
the debt securities are convertible or exchangeable into our common stock or other equity
securities and the terms and conditions upon which such conversion or exchange shall
be effected; and |
| · | any
other terms of the debt securities. |
If the purchase
price of any debt securities is denominated in a foreign currency or composite currency, or if the principal of or any premium
or interest on any debt securities is payable in a foreign currency or composite currency, we will include the restrictions, elections,
tax consequences, specific terms and other information with respect to the debt securities and the applicable foreign currency
or composite currency in the applicable prospectus supplement.
We may issue
debt securities as Original Issue Discount Securities (as defined below) to be offered and sold at a substantial discount from
their principal amount and typically bearing no interest or interest at a rate which at the time of issuance is below market rates.
An “Original Issue Discount Security” is any debt security which provides for an amount less than its principal amount
to be due and payable upon a declaration of acceleration of its maturity. (Section 1.01). We will describe the federal income
tax, accounting and other considerations relevant to any such Original Issue Discount Securities in the applicable prospectus
supplement.
The particular
terms of a series of debt securities will be set forth in an officers’ certificate or supplemental indenture, and described
in the applicable prospectus supplement. We urge you to read the applicable indenture as supplemented by any officers’ certificate
or supplemental indenture that is applicable to you because that indenture, as supplemented, and not this section, defines your
rights as a holder of the debt securities.
Restrictive
Covenants
The indentures
contain certain restrictive covenants that apply, or may apply, to us and all of our Restricted Subsidiaries (as defined below).
The covenants described below under “Restrictions on Liens” and “Restrictions on Sale and Leaseback Transactions”
will not apply to a series of debt securities unless we specifically so provide in the applicable prospectus supplement. These
covenants do not apply to any of our Subsidiaries that are not designated as Restricted Subsidiaries.
You should
carefully read the applicable prospectus supplement for the particular provisions of the series of debt securities being offered,
including any additional restrictive covenants or Events of Default that may be included in the terms of such debt securities.
Restrictions
on Liens. If the applicable prospectus supplement states that the covenant set forth in Section 5.03 of the indentures
will be applicable to a series of debt securities, then we will be subject to a covenant providing that we will not, nor will
we permit any Restricted Subsidiary (as defined below) to, create, incur, issue, assume or guarantee any debt for money borrowed
(as used in this “Restrictive Covenants” section, “Debt”) if such Debt is secured by a mortgage, pledge,
lien, security interest or other encumbrance upon any Principal Property (as defined below) or on any shares of stock or indebtedness
of any Restricted Subsidiary (whether such Principal Property, shares of stock or indebtedness are now owned or acquired in the
future), without, in any such case, effectively providing that the debt securities and, at our option, any of our other indebtedness
or guarantees or any indebtedness or guarantees of a Restricted Subsidiary ranking equally with the debt securities, will be secured
equally and ratably with (or, at our option, prior to) such Debt. The foregoing restrictions do not apply to:
| 1. | mortgages
on property, shares of stock or indebtedness of any corporation existing at the time
such corporation becomes a Restricted Subsidiary; |
| 2. | mortgages
on property existing at the time of acquisition of such property and, in some instances,
certain purchase money mortgages; |
| 3. | mortgages
securing Debt owing by any Restricted Subsidiary to us or another Restricted Subsidiary; |
| 4. | mortgages
on property of a corporation existing at the time such corporation is merged into or
consolidated with us or a Restricted Subsidiary or at the time of a sale, lease or other
disposition of the properties of a corporation or firm as an entirety or substantially
as an entirety to us or a Restricted Subsidiary; |
| 5. | mortgages
in favor of any country or any political subdivision of any country, or any instrumentality
thereof, to secure payments pursuant to any contract or statute or to secure any indebtedness
incurred for the purpose of financing all or any part of the purchase price or the cost
of construction of the property subject to such mortgages; or |
| 6. | any
extension, renewal or replacement (or successive extensions, renewals or replacements),
in whole or in part, of any mortgage referenced in clauses (1) through (5) above, inclusive,
or any mortgage existing at the respective date of the applicable indenture, provided
that the principal amount of Debt secured at the time of such extension may not be increased,
and the collateral which secures the same cannot be expanded. |
Notwithstanding
these exceptions, we and one or more Restricted Subsidiaries may, without securing the debt securities, create, incur, issue,
assume or guarantee secured Debt which would otherwise be subject to the foregoing restrictions, provided that if, after giving
effect to such Debt, the aggregate of such secured Debt then outstanding (not including secured Debt permitted under the foregoing
exceptions) at such time does not exceed 10% of our consolidated shareowners’ equity as of the end of the preceding fiscal
year. (Section 5.03).
Restrictions
on Sale and Leaseback Transactions. If the applicable prospectus supplement states that the covenant set forth in Section
5.04 of the indentures will be applicable to a series of debt securities, then we will be subject to the covenant providing that
we will not, and we will not permit any Restricted Subsidiary to, enter into any lease, other than intercompany leases, longer
than three years covering any Principal Property that is sold to any other person in connection with such lease unless:
| 1. | we
or such Restricted Subsidiary would be entitled, pursuant to “Restrictions on Liens”
described above, to incur Debt secured by a mortgage on the Principal Property involved
in an amount at least equal to the Attributable Debt (as defined below) without equally
and ratably securing the debt securities provided that such Attributable Debt shall then
be deemed to be Debt subject to the provisions of such restriction on liens; |
| 2. | since
the respective date of the applicable indenture and within a period commencing twelve
months prior to the consummation of the sale and leaseback transaction and ending twelve
months after the consummation of such transaction, we or such Restricted Subsidiary has
expended, or will expend, for the Principal Property an amount equal to (a) the net proceeds
of such sale and leaseback transaction, and we elect to designate all of such amount
as a credit against such transaction or (b) a part of the net proceeds of such sale and
leaseback transaction, and we elect to designate such amount as a credit against such
transaction and apply an amount equal to the remainder of the net proceeds as provided
in clause (3) below; or |
| 3. | an
amount equal to such Attributable Debt (less any amount elected under clause (2) above)
is applied within 90 days of such lease to the retirement of Debt, other than intercompany
Debt, which by its terms matures at, or is prepayable or extendible or renewable at the
sole option of the obligor without requiring the consent of the obligee to, a date more
than twelve months after the date of the creation of such Debt. (Section 5.04). |
Consolidation,
Merger and Sale
The indentures
generally provide that we may consolidate with or merge into any other corporation, or transfer or lease our properties and assets
as an entirety or substantially as an entirety to any other corporation, if the corporation formed by or resulting from any such
consolidation, into which we are merged or which shall have acquired or leased such properties and assets, shall, pursuant to
a supplemental indenture, assume payment of the principal of (and premium, if any) and interest, if any, on the debt securities
and the performance and observance of the covenants of the indentures. (Section 11.01).
If upon (1)
any consolidation or merger of us, or of us and any Subsidiary, with or into any other corporation or corporations, or upon the
merger of another corporation into us, or (2) successive consolidations or mergers to which we or our successors shall be a party
or parties, or (3) upon any sale or conveyance of our property, or the property of us and any Subsidiary, as an entirety or substantially
as an entirety, any Principal Property or any shares of stock or Debt of any Restricted Subsidiary would then become subject to
any mortgage, we will cause the debt securities, and at our option any other indebtedness of or guarantees by us or such Restricted
Subsidiary ranking equally with the debt securities, to be secured equally and ratably with (or, at our option, prior to) any
Debt secured thereby, unless such Debt could have been incurred without us being required to secure the debt securities equally
or ratably with (or prior to) such Debt pursuant to “Restrictions on Liens” described above. (Section 11.01).
Certain
Definitions
As used in
the indentures and this prospectus, the following definitions apply:
“Attributable
Debt” means, in respect of a sale and leaseback transaction, as of any particular time, the present value (discounted at
the rate of interest implicit in the terms of the lease involved in such sale and leaseback transaction, as determined in good
faith by us) of the obligation of the lessee thereunder for rental payments (excluding, however, any amounts required to be paid
by such lessee, whether or not designated as rent or additional rent, on account of maintenance and repairs, insurance, taxes,
assessments, water rates or similar charges or any amounts required to be paid by such lessee thereunder contingent upon the amount
of sales, maintenance and repairs, insurance, taxes, assessments, water rates or similar charges) during the remaining term of
such lease (including any period for which such lease has been extended or may, at the option of the lessor, be extended). (Section
1.01).
“Principal
Property” means our manufacturing plants or facilities or those of a Restricted Subsidiary located within the United States
of America (other than its territories and possessions) or Puerto Rico, except any such manufacturing plant or facility which
our board of directors by resolution reasonably determines not to be of material importance to the total business conducted by
us and our Restricted Subsidiaries. (Section 1.01).
“Restricted
Subsidiary” means any Subsidiary (1) substantially all of the property of which is located, or substantially all of the
business of which is carried on, within the United States of America (other than its territories and possessions) or Puerto Rico
and (2) which owns or is the lessee of any Principal Property, but does not include any Subsidiary primarily engaged in financing
activities, primarily engaged in the leasing of real property to persons other than us and our Subsidiaries, or which is characterized
by us as a temporary investment. The terms “Restricted Subsidiary” does not include Coca-Cola Financial Corporation,
The Coca-Cola Trading Company LLC, 55th & 5th Avenue Corporation, Bottling Investments Corporation or ACCBC Holding Company,
and their respective Subsidiaries. (Section 1.01).
“Subsidiary”
means a corporation more than 50% of the outstanding Voting Stock of which is owned, directly or indirectly, by us or one or more
other Subsidiaries, or by us and one or more other Subsidiaries. (Section 1.01).
“Voting
Stock” means stock of the class or classes having general voting power under ordinary circumstances to elect at least a
majority of the board of directors, managers or trustees of said corporation (irrespective of whether or not at the time stock
of any other class or classes shall have or might have voting power by reason of the happening of any contingency). (Section 1.01).
Event
of Default
“Event
of Default,” when used in the indentures with respect to any series of debt securities, means any of the following events:
| · | default
for 30 days in payment of any interest on such series; |
| · | default
in payment of any principal of or premium, if any, on such series; |
| · | default
in payment of any sinking fund installment for such series; |
| · | default
for 90 days after written notice in performance of any other covenant in the indentures
(other than a covenant or agreement included in the indentures solely for the benefit
of holders of debt securities of any series other than that series); |
| · | certain
events of bankruptcy, insolvency or reorganization; or |
| · | any
other Event of Default provided with respect to that series. (Section 7.01). |
The indentures
require us to deliver annually to the trustee an officers’ certificate, in which certain of our officers certify whether
or not they have knowledge of any default in our performance of the covenants described. (Section 5.07).
If an Event
of Default shall occur and be continuing with respect to the debt securities of any series, the trustee or the holders of not
less than 25% in aggregate principal amount of the debt securities of such series then outstanding may declare the principal (or,
if the debt securities of such series are Original Issue Discount Securities, such portion of the principal amount as may be specified
in the applicable prospectus supplement for such series) of all the debt securities of such series and the interest accrued thereon
to be due and payable. (Section 7.02). The holders of not less than a majority in aggregate principal amount of the outstanding
debt securities of such series (or, in the case of certain Events of Default pertaining to all outstanding debt securities, with
the consent of holders of a majority in aggregate principal amount of all the debt securities then outstanding acting as one class)
may waive any Event of Default with respect to a particular series of debt securities, except an Event of Default in the payment
of principal of or any premium or interest on any debt securities of such series or in respect of a covenant or provision of the
indentures which, under the terms thereof, cannot be modified or amended without the consent of the holders of each outstanding
debt security of such series. (Section 7.11). See “Modifications of the Indentures” below.
Subject to
the provisions of the indentures relating to the duties of the trustee in case an Event of Default shall occur and be continuing,
the trustee is under no obligation to exercise any of the rights or powers under the indentures at the request, order or direction
of any of the holders of debt securities of any series, unless such securityholders shall have offered to the trustee reasonable
security or indemnity against the costs, expenses and liabilities which might be incurred by such exercise. (Section 8.02). Subject
to such provisions for the indemnification of the trustee and certain limitations contained in the indentures, the holders of
a majority in aggregate principal amount of all debt securities of such series at the time outstanding shall have the right to
direct the time, method and place of conducting any proceeding for any remedy available to the trustee or exercising any trust
or power conferred on the trustee with respect to the debt securities of that series. (Section 7.10).
If any debt
securities are denominated in a foreign currency or composite currency, then for the purposes of determining whether the holders
of the requisite principal amount of debt securities have taken any action as herein described, the principal amount of such debt
securities shall be deemed to be that amount of United States dollars that could be obtained for such principal amount on the
basis of the spot rate of exchange into United States dollars for the currency or composite currency in which such debt securities
are denominated (as determined by us or an authorized exchange rate agent and evidenced to the trustee) as of the date the taking
of such action by the holders of such requisite principal amount is evidenced to the trustee as provided in the indentures. (Section
14.10).
Modifications
of the Indentures
We and the
trustee may modify and amend the indentures with the consent of the holders of not less than a majority in aggregate principal
amount then outstanding of any series of the debt securities affected by such modification or amendment. However, we may not,
without the consent of the holders of each debt security so affected:
| · | extend
the fixed maturity of such series of debt securities; |
| · | reduce
the principal amount of such series of debt securities; |
| · | reduce
the rate or extend the time of payment of interest on such series of debt securities; |
| · | impair
or affect the right of any securityholder to institute suit for payment of principal
or interest or change the coin or currency in which the principal of or interest on such
series of debt securities is payable; or |
| · | reduce
the percentage of aggregate principal amount of debt securities of such series from whom
consent is required to modify the indentures. (Section 10.02). |
In addition,
under our subordinated indenture, without the consent of each holder of each debt security so affected, we may not modify the
provisions of the subordinated indenture with respect to subordination of the debt securities in a manner adverse to the holders.
We and the
trustee may modify and amend the indentures without the consent of any holders of debt securities to:
| · | provide
for security for the debt securities; |
| · | evidence
the assumption of our obligations under the applicable indenture by a successor; |
| · | add
covenants that would benefit holders of any debt securities; |
| · | cure
any ambiguity, omission, defect or inconsistency; |
| · | change
or eliminate any of the provisions of the indentures so long as such change or elimination
becomes effective only when there are no securities created prior to the execution of
the supplemental indenture then outstanding which are entitled to the benefit of such
provision; |
| · | provide
for a successor trustee; or |
| · | make
such provisions as may be necessary or advisable in order to comply with the withholding
provisions of the Internal Revenue Code of 1986, as amended, and the rules and regulations
thereunder. (Section 10.01). |
Defeasance
of the Indentures and Securities
Unless the
applicable prospectus supplement states otherwise, the indentures provide that we will be deemed to have paid and discharged the
entire indebtedness on the debt securities of any series, and our obligations under the indentures with respect to the debt securities
of such series (other than certain specified obligations, such as the obligations to maintain a security register pertaining to
transfer of the debt securities, to maintain a paying agency office, and to replace stolen, lost or destroyed debt securities)
will cease to be in effect, from and after the date that we deposit with the trustee, in trust:
| · | money
in the currency or composite currency in which the debt securities of such series are
denominated; or |
| · | U.S.
Government Obligations, in the case of debt securities denominated in dollars, or obligations
issued or guaranteed by the government which issued the currency in which the debt securities
of such series are denominated, in the case of debt securities denominated in foreign
currencies, which through the payment of interest and principal in accordance with their
terms will provide money in the currency in which the debt securities of such series
are denominated; or |
which is sufficient
to pay and discharge the principal and premium, if any, and interest, if any, to the date of maturity on or the redemption date
of, such series of debt securities. (Sections 12.01 and 12.02). In the event of any such defeasance, holders of such debt securities
would be able to look only to such trust fund for payment of principal (and premium, if any) and interest, if any, on their debt
securities until maturity.
Such defeasance
may be treated as a taxable exchange of the related debt securities for an issue of obligations of the trust or a direct interest
in the money, U.S. Government Obligations or other obligations held in the trust. In that case, holders of such debt securities
may recognize gain or loss as if the trust obligations or the money, U.S. Government Obligations or other obligations deposited,
as the case may be, had actually been received by them in exchange for their debt securities. Such holders thereafter might be
required to include in income a different amount than would be includable in the absence of defeasance. We encourage prospective
investors to consult with their own tax advisors as to the specific consequences of defeasance.
Denominations
Unless the
applicable prospectus supplement states otherwise, the debt securities will be issued only in registered form without coupons,
in U.S. dollars in denominations of $1,000 or any integral multiples of $1,000. We will issue a book-entry security equal to the
aggregate principal amount of outstanding debt securities of the series represented by such book-entry security. We will specify
the denominations of a series of debt securities denominated in a foreign currency or composite currency in the applicable prospectus
supplement. (Sections 3.02 and 3.03).
Registration
and Transfer
You may exchange
any certificated securities of any series for other certificated securities of the same series and of a like aggregate principal
amount and tenor of different authorized denominations. Upon payment of any taxes and other governmental charges as described
in the indentures, you may present certificated securities for registration of transfer (with the form of transfer duly executed),
without a service charge, at the office of the securities registrar or at the office of any transfer agent that we designate for
such purpose and reference in the applicable prospectus supplement with respect to any series of debt securities. Subject to its
satisfaction with the documents of title and identity of the person making the request, the securities registrar or such transfer
agent, as the case may be, will effect such transfer or exchange.
We have initially
appointed the trustee as securities registrar under the indentures. (Section 3.05). If the prospectus supplement refers to any
transfer agent in addition to the securities registrar initially designated by us with respect to any series of debt securities,
we may at any time rescind the designation of any such transfer agent or approve a change in the location through which any such
transfer agent acts, except that we will be required to maintain a transfer agent in the borough of Manhattan, the city of New
York, for such series. We may at any time designate additional transfer agents with respect to any series of debt securities.
(Section 5.02).
In the event
of any partial redemption in part of a series of debt securities, we will not be required to (1) issue securities of such series,
register the transfer of securities of such series or exchange debt securities of such series during a period beginning at the
opening of business 15 days before the mailing date of a notice of redemption of such debt securities of that series selected
to be redeemed and ending at the close of business on such mailing date or (2) register the transfer or exchange of any debt security,
or portion of any such debt security, that is called for redemption, except the unredeemed portion of any debt security being
redeemed in part. (Section 3.05).
Payment
and Paying Agents
Unless the
applicable prospectus supplement states otherwise, we will pay the principal of and any premium and interest on debt securities
at the office of the paying agent or paying agents as we may designate from time to time. However, at our option we may pay any
interest by check mailed or delivered to the address of the person entitled to such payment as it appears in the securities register.
(Section 2.02). Unless the applicable prospectus supplement states otherwise, we will pay any installment of interest on debt
securities to the person in whose name the debt security is registered at the close of business on the regular record date for
such interest payment. (Section 3.07). Payments of any interest on the debt securities may be subject to the deduction of applicable
withholding taxes. (Section 5.01).
Unless the
applicable prospectus supplement states otherwise, the principal office of the trustee in the city of New York is designated as
our paying agent for payments with respect to debt securities. Any other paying agents that we may designate at the time of the
offering and issuance of a series of debt securities will be named in the related prospectus supplement. With regard to any series,
we may at any time designate additional paying agents, rescind the designation of any paying agents or approve a change in the
office through which any paying agent acts, except that we will be required to maintain a paying agent in the borough of Manhattan
in the city of New York. (Section 5.02).
The trustee
or any paying agent for the payment of principal of or interest on any debt security will repay to us all moneys paid by us which
remain unclaimed at the end of two years after such principal or interest shall have become due and payable, and, after such repayment
occurs, the holder of the applicable debt security will be entitled to look only to us for payment. (Section 12.04).
Concerning
the Trustee
Deutsche Bank
Trust Company Americas, as successor to Bankers Trust Company, New York, New York, is the trustee under the senior indenture and
has agreed to act as trustee under the subordinated indenture. We maintain banking relationships in the ordinary course of business
with affiliates of Deutsche Bank Trust Company Americas, and affiliates of Deutsche Bank Trust Company Americas have entered into
foreign currency transactions with us, serve as fiscal agents for certain of our outstanding obligations and have provided back-up
lines of credit for our commercial paper.
Book-Entry
Delivery and Settlement
Global
Notes
We will issue
any debt securities in the form of one or more global notes in definitive, fully registered, book-entry form. The global notes
will be deposited with or on behalf of the Depository Trust Company (“DTC”) and registered in the name of Cede &
Co., as nominee of DTC.
DTC,
Clearstream and Euroclear
Beneficial
interests in the global notes will be represented through book-entry accounts of financial institutions acting on behalf of beneficial
owners as direct and indirect participants in DTC. Investors may hold interests in the global notes through either DTC (in the
United States), Clearstream Banking, societe anonyme, Luxembourg, which we refer to as Clearstream, or Euroclear Bank S.A./ N.V.,
as operator of the Euroclear System, which we refer to as Euroclear, in Europe, either directly if they are participants in such
systems or indirectly through organizations that are participants in such systems. Clearstream and Euroclear will hold interests
on behalf of their participants through customers’ securities accounts in Clearstream’s and Euroclear’s names
on the books of their U.S. depositaries, which in turn will hold such interests in customers’ securities accounts in the
U.S. depositaries’ names on the books of DTC.
DTC has advised
us that:
| · | DTC
is a limited-purpose trust company organized under the New York Banking Law, a “banking
organization” within the meaning of the New York Banking Law, a member of the Federal
Reserve System, a “clearing corporation” within the meaning of the New York
Uniform Commercial Code and a “clearing agency” registered under Section
17A of the Exchange Act. |
| · | DTC
holds securities that its participants deposit with DTC and facilitates the settlement
among participants of securities transactions, such as transfers and pledges, in deposited
securities through electronic computerized book-entry changes in participants’
accounts, thereby eliminating the need for physical movement of securities certificates. |
| · | Direct
participants include both U.S. and non-U.S. securities brokers and dealers, banks, trust
companies, clearing corporations and other organizations, some of whom, and/or their
representatives, own DTC. |
| · | DTC
is a wholly-owned subsidiary of The Depository Trust & Clearing Corporation (“DTCC”).
DTCC is the holding company for DTC, National Securities Clearing Corporation and Fixed
Income Clearing Corporation, all of which are registered clearing agencies. DTCC is owned
by the users of its regulated subsidiaries. |
| · | Access
to the DTC system is also available to others such as both U.S. and non-U.S. securities
brokers and dealers, banks and trust companies that clear through or maintain a custodial
relationship with a direct participant, either directly or indirectly. |
| · | The
rules applicable to DTC and its direct and indirect participants are on file with the
SEC. |
Clearstream
has advised us that it is incorporated under the laws of Luxembourg as a professional depositary. Clearstream holds securities
for its customers and facilitates the clearance and settlement of securities transactions between its customers through electronic
book-entry changes in accounts of its customers, thereby eliminating the need for physical movement of certificates. Clearstream
provides to its customers, among other things, services for safekeeping, administration, clearance and settlement of internationally
traded securities and securities lending and borrowing. Clearstream interfaces with domestic markets in several countries. As
a professional depositary, Clearstream is subject to regulation by the Luxembourg Commission for the Supervision of the Financial
Sector. Clearstream customers are recognized financial institutions around the world, including underwriters, securities brokers
and dealers, banks, trust companies, clearing corporations and other organizations and may include the underwriters. Indirect
access to Clearstream is also available to others, such as banks, brokers, dealers and trust companies that clear through or maintain
a custodial relationship with a Clearstream customer either directly or indirectly.
Euroclear
has advised us that it was created in 1968 to hold securities for participants of Euroclear and to clear and settle transactions
between Euroclear participants through simultaneous electronic book-entry delivery against payment, thereby eliminating the need
for physical movement of certificates and any risk from lack of simultaneous transfers of securities and cash. Euroclear provides
various other services, including securities lending and borrowing and interfaces with domestic markets in several countries.
Euroclear is operated by Euroclear Bank S.A./ N.V., which we refer to as the Euroclear Operator. All operations are conducted
by the Euroclear Operator, and all Euroclear securities clearance accounts and Euroclear cash accounts are accounts with the Euroclear
Operator. Euroclear participants include banks (including central banks), securities brokers and dealers, and other professional
financial intermediaries and may include the underwriters. Indirect access to Euroclear is also available to other firms that
clear through or maintain a custodial relationship with a Euroclear participant, either directly or indirectly.
We understand
that the Euroclear Operator is licensed by the Belgian Banking and Finance Commission to carry out banking activities on a global
basis. As a Belgian bank, it is regulated and examined by the Belgian Banking and Finance Commission.
We have provided
the descriptions of the operations and procedures of DTC, Clearstream and Euroclear in this prospectus supplement solely as a
matter of convenience. These operations and procedures are solely within the control of those organizations and are subject to
change by them from time to time. None of us, the underwriters nor the trustee takes any responsibility for these operations or
procedures, and you are urged to contact DTC, Clearstream and Euroclear or their participants directly to discuss these matters.
We expect
that under procedures established by DTC:
| · | upon
deposit of the global notes with DTC or its custodian, DTC will credit on its internal
system the accounts of direct participants designated by the underwriters with portions
of the principal amounts of the global notes; and |
| · | ownership
of the debt securities will be shown on, and the transfer of ownership thereof will be
effected only through, records maintained by DTC or its nominee, with respect to interests
of direct participants, and the records of direct and indirect participants, with respect
to interests of persons other than participants. |
The laws of
some jurisdictions may require that purchasers of securities take physical delivery of those securities in definitive form. Accordingly,
the ability to transfer interests in the debt securities represented by a global note to those persons may be limited. In addition,
because DTC can act only on behalf of its participants, who in turn act on behalf of persons who hold interests through participants,
the ability of a person having an interest in debt securities represented by a global note to pledge or transfer those interests
to persons or entities that do not participate in DTC’s system, or otherwise to take actions in respect of such interest,
may be affected by the lack of a physical definitive security in respect of such interest.
So long as
DTC or its nominee is the registered owner of a global note, DTC or that nominee will be considered the sole owner or holder of
the debt securities represented by that global note for all purposes under the indenture and under the debt securities. Except
as provided below, owners of beneficial interests in a global note will not be entitled to have debt securities represented by
that global note registered in their names, will not receive or be entitled to receive physical delivery of certificated notes
and will not be considered the owners or holders thereof under the applicable indenture or under the debt securities for any purpose,
including with respect to the giving of any direction, instruction or approval to the trustee. Accordingly, each holder owning
a beneficial interest in a global note must rely on the procedures of DTC and, if that holder is not a direct or indirect participant,
on the procedures of the participant through which that holder owns its interest, to exercise any rights of a holder of debt securities
under the applicable indenture or a global note.
Neither we
nor the trustee will have any responsibility or liability for any aspect of the records relating to or payments made on account
of debt securities by DTC, Clearstream or Euroclear, or for maintaining, supervising or reviewing any records of those organizations
relating to the debt securities.
Payments on
the debt securities represented by the global notes will be made to DTC or its nominee, as the case may be, as the registered
owner thereof. We expect that DTC or its nominee, upon receipt of any payment on the debt securities represented by a global note,
will credit participants’ accounts with payments in amounts proportionate to their respective beneficial interests in the
global note as shown in the records of DTC or its nominee. We also expect that payments by participants to owners of beneficial
interests in the global note held through such participants will be governed by standing instructions and customary practice as
is now the case with securities held for the accounts of customers registered in the names of nominees for such customers. The
participants will be responsible for those payments.
Distributions
on the debt securities held beneficially through Clearstream will be credited to cash accounts of its customers in accordance
with its rules and procedures, to the extent received by the U.S. depositary for Clearstream.
Securities
clearance accounts and cash accounts with the Euroclear Operator are governed by the Terms and Conditions Governing Use of Euroclear
and the related Operating Procedures of the Euroclear System, and applicable Belgian law (collectively, the “Terms and Conditions”).
The Terms and Conditions govern transfers of securities and cash within Euroclear, withdrawals of securities and cash from Euroclear,
and receipts of payments with respect to securities in Euroclear. All securities in Euroclear are held on a fungible basis without
attribution of specific certificates to specific securities clearance accounts. The Euroclear Operator acts under the Terms and
Conditions only on behalf of Euroclear participants and has no record of or relationship with persons holding through Euroclear
participants.
Distributions
on the debt securities held beneficially through Euroclear will be credited to the cash accounts of its participants in accordance
with the Terms and Conditions, to the extent received by the U.S. depositary for Euroclear.
Clearance
and Settlement Procedures
Initial settlement
for the debt securities will be made in immediately available funds. Secondary market trading between DTC participants will occur
in the ordinary way in accordance with DTC rules and will be settled in immediately available funds. Secondary market trading
between Clearstream customers and/or Euroclear participants will occur in the ordinary way in accordance with the applicable rules
and operating procedures of Clearstream and Euroclear, as applicable, and will be settled using the procedures applicable to conventional
eurobonds in immediately available funds.
Cross-market
transfers between persons holding directly or indirectly through DTC, on the one hand, and directly or indirectly through Clearstream
customers or Euroclear participants, on the other, will be effected through DTC in accordance with DTC rules on behalf of the
relevant European international clearing system by its U.S. depositary; however, such cross-market transactions will require delivery
of instructions to the relevant European international clearing system by the counterparty in such system in accordance with its
rules and procedures and within its established deadlines (European time). The relevant European international clearing system
will, if the transaction meets its settlement requirements, deliver instructions to the U.S. depositary to take action to effect
final settlement on its behalf by delivering or receiving the debt securities in DTC, and making or receiving payment in accordance
with normal procedures for same-day funds settlement applicable to DTC. Clearstream customers and Euroclear participants may not
deliver instructions directly to their U.S. depositaries.
Because of
time-zone differences, credits of the debt securities received in Clearstream or Euroclear as a result of a transaction with a
DTC participant will be made during subsequent securities settlement processing and dated the business day following the DTC settlement
date. Such credits or any transactions in the debt securities settled during such processing will be reported to the relevant
Clearstream customers or Euroclear participants on such business day. Cash received in Clearstream or Euroclear as a result of
sales of the debt securities by or through a Clearstream customer or a Euroclear participant to a DTC participant will be received
with value on the DTC settlement date but will be available in the relevant Clearstream or Euroclear cash account only as of the
business day following settlement in DTC.
Although DTC,
Clearstream and Euroclear have agreed to the foregoing procedures to facilitate transfers of the debt securities among participants
of DTC, Clearstream and Euroclear, they are under no obligation to perform or continue to perform such procedures and such procedures
may be changed or discontinued at any time.
Certificated
Notes
Individual
certificates in respect of any debt securities will not be issued in exchange for the global notes, except in very limited circumstances.
We will issue or cause to be issued certificated notes to each person that DTC identifies as the beneficial owner of the debt
securities represented by a global note upon surrender by DTC of the global note if:
| · | DTC
notifies us that it is no longer willing or able to act as a depositary for such global
note or ceases to be a clearing agency registered under the Securities Exchange Act of
1934, and we have not appointed a successor depositary within 90 days of that notice
or becoming aware that DTC is no longer so registered; |
| · | an
event of default has occurred and is continuing, and DTC requests the issuance of certificated
notes; or |
| · | we
determine not to have the debt securities of such series represented by a global note. |
Neither we
nor the trustee will be liable for any delay by DTC, its nominee or any direct or indirect participant in identifying the beneficial
owners of the debt securities. We and the trustee may conclusively rely on, and will be protected in relying on, instructions
from DTC or its nominee for all purposes, including with respect to the registration and delivery, and the respective principal
amounts, of the certificated notes to be issued.
Subordinated
Indenture Provisions
The subordinated
debt securities will be issued under the subordinated indenture. The subordinated debt securities will rank on an equal basis
with certain of our other subordinated debt that may be outstanding from time to time and will rank junior to all of our senior
debt, as defined below, including any senior debt securities that may be outstanding from time to time.
Subordination.
If we issue subordinated debt securities, the aggregate principal amount of senior debt outstanding as of a recent date
will be set forth in the applicable prospectus supplement. Neither the senior nor the subordinated indenture restricts the amount
of senior debt that we may incur.
Holders of
subordinated debt securities should recognize that contractual provisions in the subordinated indenture may prohibit us from making
payments on those securities. Subordinated debt securities are subordinate and junior in right of payment, to the extent and in
the manner stated in the subordinated indenture or any supplement thereto to all of our senior debt, including all debt securities
we have issued and will issue under the senior indenture.
As used in
the subordinated indenture and this prospectus, the term “senior debt” means the principal, premium, if any, unpaid
interest and all fees and other amounts payable in connection with any debt for money borrowed other than (1) debt incurred (a)
with respect to certain elections under the federal bankruptcy code, (b) debt to our subsidiaries, (c) debt to our employees,
(d) tax liability, and (e) certain trade payables, (2) all obligations under interest rate, currency and commodity swaps, caps,
floors, collars, hedge arrangements, forward contracts or similar agreements and (3) renewals, modifications and refunds of any
such debt.
Unless otherwise
indicated in the applicable prospectus supplement, we may not pay principal of, premium, if any, or interest on any subordinated
debt securities or defease, purchase, redeem or otherwise retire such securities if:
| · | a
default in the payment of any principal, or premium, if any, or interest on any senior
debt, occurs and is continuing or any other amount owing in respect of any senior debt
is not paid when due; or |
| · | any
other default occurs with respect to any senior debt and the maturity of such senior
debt is accelerated in accordance with its terms, unless and until such default in payment
or event of default has been cured or waived and any such acceleration is rescinded or
such senior debt has been paid in full in cash. |
If there is
any payment or distribution of our assets to creditors upon a total or partial liquidation or a total or partial dissolution or
in a bankruptcy, reorganization, insolvency, receivership or similar proceeding, holders of all present and future senior debt
(which will include interest accruing after, or which would accrue but for, the commencement of any bankruptcy, reorganization,
insolvency, receivership or similar proceeding) are entitled to receive payment in full before any payment or distribution, whether
in cash, securities or other property, in respect of the subordinated indebtedness. In addition, unless otherwise indicated in
the applicable prospectus supplement, in any such event, payments or distributions which would otherwise be made on subordinated
debt securities will generally be paid to the holders of senior debt, or their representatives, in accordance with the priorities
existing among these creditors at that time until the senior debt is paid in full.
After payment
in full of all present and future senior debt, holders of subordinated debt securities will be subrogated to the rights of any
holders of senior debt to receive any further payments or distributions that are applicable to the senior debt until all the subordinated
debt securities are paid in full. The subordinated indenture provides that the foregoing subordination provisions may not be changed
in a manner which would be adverse to the holders of senior debt without the consent of the holders of such senior debt.
The prospectus
supplement delivered in connection with the offering of a series of subordinated debt securities will set forth a more detailed
description of the subordination provisions applicable to any such debt securities.
If the trustee
under the subordinated indenture or any holders of the subordinated debt securities receive any payment or distribution that is
prohibited under the subordination provisions, then the trustee or the holders will have to repay that money to the holders of
the senior debt.
Even if the
subordination provisions prevent us from making any payment when due on the subordinated debt securities of any series, we will
be in default on our obligations under that series if we do not make the payment when due. This means that the trustee under the
subordinated indenture and the holders of that series can take action against us, but they will not receive any money until the
claims of the holders of senior debt have been fully satisfied.
DESCRIPTION
OF CAPITAL STOCK
Set forth
below is a summary description of the material terms of our capital stock. For more information, please see our restated certificate
of incorporation, as amended.
Description
of Common Stock
We may issue
shares of our common stock, either separately or together with other securities offered pursuant to this prospectus. Under our
restated certificate of incorporation, as amended, we are authorized to issue up to 11,200,000,000 shares of our common stock, par
value $0.25 per share, of which 4,324,513,264 shares were issued and outstanding as of October 24, 2022. You should read the
applicable prospectus supplement relating to an offering of shares of our common stock, or of securities convertible, exchangeable
or exercisable for shares of our common stock, for the terms of such offering, including the number of shares of common stock
offered, the initial offering price and market prices and dividend information relating to our common stock.
The holders
of our common stock are entitled to one vote for each share on all matters submitted to a vote of shareowners. Each share of our
common stock outstanding is entitled to participate equally in any distribution of net assets made to the shareowners in the liquidation,
dissolution or winding up of our Company and is entitled to participate equally in dividends as and when declared by our board
of directors. There are no redemption, sinking fund, conversion or preemptive rights with respect to the shares of our common
stock. All shares of our common stock have equal rights and preferences. The rights, preferences and privileges of the holders
of our common stock are subject to and may be adversely affected by the rights of holders of shares of any series of our preferred
stock that we may designate and issue in the future.
Description
of Preferred Stock
Our restated
certificate of incorporation, as amended, authorizes our board of directors to issue, from time to time, up to 100,000,000 shares
of preferred stock, par value $1.00 per share, in one or more series, subject to certain limitations prescribed by law. There
are no preferred shares issued and outstanding as of the date of this prospectus. Our board of directors is authorized to establish
from time to time the number of shares to be included in any series of preferred stock, and to fix the designation, powers, preferences,
and rights of the shares of such series and any qualifications, limitations or restrictions thereof.
The specific
terms of any preferred stock to be sold under this prospectus will be described in the applicable prospectus supplement. If so
indicated in such prospectus supplement, the terms of the preferred stock offered may differ from the general terms set forth
below. Unless otherwise specified in the prospectus supplement relating to the preferred stock offered thereby, each series of
preferred stock offered will rank equal in right of payment to all other series of our preferred stock, and holders thereof will
have no preemptive rights. The preferred stock offered will, when issued, be fully paid and nonassessable.
You should
read the applicable prospectus supplement for the terms of the preferred stock offered. The terms of the preferred stock set forth
in such prospectus supplement may include the following, as applicable to the preferred stock offered thereby:
| · | the
title and stated value of the preferred stock; |
| · | the
number of shares of the preferred stock offered; |
| · | the
liquidation preference and the offering price of the preferred stock; |
| · | the
dividend rates of the preferred stock and/or methods of calculation of such dividends; |
| · | periods
and/or payment dates for the preferred stock dividends; |
| · | whether
dividends on the preferred stock are cumulative; |
| · | the
liquidation rights of the preferred stock; |
| · | the
procedures for any auction and remarketing, if any, of the preferred stock; |
| · | the
sinking fund provisions, if applicable, for the preferred stock; |
| · | the
redemption provisions, if applicable, for the preferred stock; |
| · | whether
the preferred stock will be convertible into or exchangeable for other securities and,
if so, the terms and conditions of conversion or exchange, including the conversion price
or exchange ratio and the conversion or exchange period or the method of determining
the same; |
| · | whether
the preferred stock will have voting rights and, if so, the terms of such voting rights; |
| · | whether
the preferred stock will be listed on any securities exchange; |
| · | whether
the preferred stock will be issued with any other securities and, if so, the amount and
terms of such other securities; and |
| · | any
other specific terms, preferences or rights of, or limitations or restrictions on, the
preferred stock. |
Our authorized
shares of common stock and preferred stock are available for issuance without further action by our shareowners, unless such action
is required by applicable law or the rules of the stock exchange or automated quotation system on which our securities may be
listed or trade. If the approval of our shareowners is not required for the issuance of shares of our common stock or preferred
stock, our board of directors may determine to issue shares without seeking shareowners’ approval.
Our board
of directors could issue a series of preferred stock that could, depending on the terms of such series, delay, defer or prevent
a change in control of our Company. Our board of directors would make any determination to issue such shares based on its judgment
as to the best interests of our Company and our shareowners. Our board of directors, in so acting, could issue preferred stock
having terms that could discourage an attempt to acquire our Company, including tender offers or other transactions that some,
or a majority, of our shareowners might believe to be in their best interests, or in which our shareowners might receive a premium
for their stock over the then current market price of such stock.
Certain
Anti-takeover Matters
Our restated
certificate of incorporation, as amended, and by-laws contain provisions that may make it more difficult for a potential acquirer
to acquire us by means of a transaction that is not negotiated with our board of directors. These provisions and General Corporation
Law of the State of Delaware, or the “DGCL,” could delay or prevent entirely a merger or acquisition that our shareowners
consider favorable. These provisions may also discourage acquisition proposals or have the effect of delaying or preventing entirely
a change in control, which could harm our stock price. Our board of directors is not aware of any current effort to accumulate
shares of our common stock or to otherwise obtain control of our Company and does not currently contemplate adopting or recommending
the approval of any other action that might have the effect of delaying, deterring or preventing a change in control of our Company.
Following
is a description of the anti-takeover effects of certain provisions of our restated certificate of incorporation, as amended,
and of our by-laws.
No cumulative
voting. The DGCL provides that stockholders of a Delaware corporation are not entitled to the right to cumulate votes
in the election of directors unless its certificate of incorporation, as amended, provides otherwise. Our restated certificate
of incorporation, as amended, does not provide for cumulative voting.
Calling
of special meetings of shareowners. Our by-laws provide that special meetings of our shareowners may be called only by
or at the direction of our board of directors, the chairman of our board of directors, our chief executive officer or by our secretary
if appropriately requested by a person (or group of persons) beneficially owning at least a twenty-five percent (25%) “net
long position” of the Company’s outstanding shares of common stock.
Advance
notice requirements for shareowner proposals and director nominations. Our by-laws provide that shareowners seeking to
nominate candidates for election as directors or to bring business before an annual meeting of shareowners or a shareowner requested
special meeting of shareowners must provide timely notice of their proposal in writing to our corporate secretary.
Generally,
to be timely, a shareowner’s notice regarding an annual meeting of shareowners must be received at our principal executive
offices not less than 120 days prior to the first anniversary of the previous year’s annual meeting. Our by-laws also specify
requirements as to the form and content of a shareowner’s notice. These provisions may impede shareowners’ ability
to bring matters before an annual meeting of shareowners, a shareowner requested special meeting of shareowners or make nominations
for directors.
Limitations
on liability and indemnification of officers and directors. The DGCL authorizes corporations to limit or eliminate the
personal liability of directors to corporations and their stockholders for monetary damages for breaches of directors’ fiduciary
duties. Our restated certificate of incorporation, as amended, includes a provision that eliminates the personal liability of
directors for monetary damages for any breach of fiduciary duty in such capacity, except for liability:
| · | for
any breach of the director’s duty of loyalty to us or our shareowners; |
| · | for
acts or omissions not in good faith or which involve intentional misconduct or a knowing
violation of law; |
| · | under
Section 174 of the DGCL (providing for liability of directors for unlawful payment of
dividends or unlawful stock purchases or redemptions); or |
| · | for
any transaction from which the director derived any improper personal benefit. |
Our restated
certificate of incorporation, as amended, further provides, that if the DGCL is amended to authorize corporate action further
eliminating or limiting the personal liability of directors, then the liability of the directors will be eliminated or limited
to the fullest extent permitted by the DGCL, as so amended.
We are also
expressly authorized to carry directors’ and officers’ insurance for the benefit of our directors, officers, employees
and agents. We believe that these indemnification provisions and insurance are useful to attract and retain qualified directors
and executive officers.
The limitation
of liability and indemnification provisions in the restated certificate of incorporation, as amended, and the by-laws may discourage
our shareowners from bringing a lawsuit against directors for breach of their fiduciary duty. These provisions may also have the
effect of reducing the likelihood of derivative litigation against directors and officers, even though such an action, if successful,
might otherwise benefit us and our shareowners. In addition, the shareowner’s investment may be adversely affected to the
extent we pay the costs of settlement and damage awards against directors and officers pursuant to these indemnification provisions.
Board
authority to amend by-laws. Under the by-laws, our board of directors has the authority to adopt, amend or repeal the
by-laws without the approval of our shareowners. However, the holders of common stock will also have the right to initiate on
their own, with the affirmative vote of a majority of the shares outstanding and without the approval of our board of directors,
proposals to adopt, amend or repeal the by-laws.
General
Corporation Law of the State of Delaware. We are a Delaware corporation that is subject to Section 203 of the DGCL. Section
203 provides that, subject to certain exceptions specified in the law, a Delaware corporation shall not engage in certain “business
combinations” with any “interested stockholder” for a three-year period following the time that the stockholder
became an interested stockholder unless:
| · | prior
to such time, the board of directors approved either the business combination or the
transaction that resulted in the stockholder becoming an interested stockholder; |
| · | upon
consummation of the transaction that resulted in the stockholder becoming an interested
stockholder, the interested stockholder owned at least 85% of the corporation’s
voting stock outstanding at the time the transaction commenced, excluding certain shares;
or |
| · | at
or subsequent to that time, the business combination is approved by the board of directors
of the corporation and by the affirmative vote of holders of at least 66 2/3% of the
outstanding voting stock that is not owned by the interested stockholder. |
Generally,
a “business combination” includes a merger, asset or stock sale or other transaction resulting in a financial benefit
to the interested stockholder. Subject to certain exceptions, an “interested stockholder” is a person who, together
with that person’s affiliates and associates, owns, or within the previous three years did own, 15% or more of our voting
stock.
Under certain
circumstances, Section 203 makes it more difficult for a person who would be an “interested stockholder” to effect
various business combinations with a corporation for a three year period. The provisions of Section 203 may encourage any entity
interested in acquiring our company to negotiate in advance with our board of directors because the stockholder approval requirement
would be avoided if our board of directors approves either the business combination or the transaction that results in such entity
becoming an interested stockholder. These provisions also may make it more difficult to accomplish transactions involving our
Company that our shareowners may otherwise deem to be in their best interests.
Listing
Our common
stock is listed and traded on the New York Stock Exchange under the symbol “KO.”
Transfer
Agent and Registrar
The transfer
agent and registrar for our common stock is Computershare Trust Company, N.A.
DESCRIPTION
OF WARRANTS
This section
describes the general terms and provisions of the warrants. The applicable prospectus supplement will describe the specific terms
of the warrants offered by that prospectus supplement and any general terms outlined in this section that will not apply to those
warrants.
We may issue
warrants to purchase debt or equity securities. Each warrant will entitle the holder of warrants to purchase for cash the amount
of debt or equity securities at the exercise price stated or determinable in the prospectus supplement for the warrants. We may
issue warrants independently or together with any offered securities. The warrants may be attached to or separate from those offered
securities. We will issue the warrants under warrant agreements to be entered into between us and a bank or trust company, as
warrant agent, all as described in the applicable prospectus supplement. The warrant agent will act solely as our agent in connection
with the warrants and will not assume any obligation or relationship of agency or trust for or with any holders or beneficial
owners of warrants.
The prospectus
supplement relating to any warrants that we may offer will contain the specific terms of the warrants. These terms may include
the following:
| · | the
title of the warrants; |
| · | the
price or prices at which the warrants will be issued and the currency or composite currency
you may use to purchase the warrants; |
| · | the
designation, amount and terms of the securities for which the warrants are exercisable; |
| · | the
designation and terms of the other securities, if any, with which the warrants are to
be issued and the number of warrants issued with each other security; |
| · | if
applicable, the principal amount of debt securities you may purchase upon exercise of
each debt warrant and the price and currency or composite currency or other consideration
(which may include debt securities) you may use to purchase such principal amount of
debt securities upon such exercise; |
| · | the
aggregate number of warrants; |
| · | any
provisions for adjustment of the number or amount of securities receivable upon exercise
of the warrants or the exercise price of the warrants; |
| · | the
price or prices at which the securities purchasable upon exercise of the warrants may
be purchased; |
| · | the
date on and after which the warrants and the securities purchasable upon exercise of
the warrants will be separately transferable, if applicable; |
| · | a
discussion of any material U.S. federal income tax considerations applicable to the exercise
of the warrants; |
| · | the
date on which the right to exercise the warrants will commence, and the date on which
the right will expire; |
| · | the
maximum or minimum number of warrants that may be exercised at any time; |
| · | the
terms of any mandatory or option redemption by us; |
| · | the
identity of the warrant agent; |
| · | information
with respect to book-entry procedures, if any; and |
| · | any
other terms of the warrants, including terms, procedures and limitations relating to
the exchange and exercise of the warrants. |
DESCRIPTION
OF DEPOSITARY SHARES
This section
describes the general terms and provisions of the depositary shares. The applicable prospectus supplement will describe the specific
terms of the depositary shares offered by that prospectus supplement and any general terms outlined in this section that will
not apply to those depositary shares.
General
We may, at
our option, elect to offer depositary shares, each representing a fraction (to be set forth in the prospectus supplement relating
to a particular series of preferred stock) of a share of a particular class or series of preferred stock as described below. In
the event we elect to do so, depositary receipts evidencing depositary shares will be issued to the public.
The shares
of any class or series of preferred stock represented by depositary shares will be deposited under a deposit agreement among us,
a depositary selected by us and the holders of the depositary receipts. The depositary will be a bank or trust company having
its principal office in the United States and having a combined capital and surplus of at least $50,000,000. Subject to the terms
of the deposit agreement, each owner of a depositary share will be entitled, in proportion to the applicable fraction of a share
of preferred stock represented by such depositary share, to all the rights and preferences of the shares of preferred stock represented
by the depositary share, including dividend, voting, redemption and liquidation rights. The depositary shares will be evidenced
by depositary receipts issued pursuant to the deposit agreement. Depositary receipts will be distributed to those persons purchasing
the fractional shares of the related class or series of preferred shares in accordance with the terms of the offering described
in the applicable prospectus supplement.
Pending the
preparation of definitive depositary receipts the depositary may, upon our written order, issue temporary depositary receipts
substantially identical to, and entitling the holders thereof to all the rights pertaining to, the definitive depositary receipts
but not in definitive form. Definitive depositary receipts will be prepared without unreasonable delay, and temporary depositary
receipts will be exchangeable for definitive depositary receipts without charge to the holder.
Dividends
and Other Distributions
The depositary
will distribute all cash dividends or other cash distributions received for the preferred stock to the entitled record holders
of depositary shares in proportion to the number of depositary shares that the holder owns on the relevant record date, provided,
however, that if we or the depositary is required by law to withhold an amount on account of taxes, then the amount distributed
to the holders of depositary shares shall be reduced accordingly. The depositary will distribute only an amount that can be distributed
without attributing to any holder of depositary shares a fraction of one cent. The depositary will add the undistributed balance
to and treat it as part of the next sum received by the depositary for distribution to holders of the depositary shares.
If there is
a non-cash distribution, the depositary will distribute property received by it to the entitled record holders of depositary shares,
in proportion, insofar as possible, to the number of depositary shares owned by the holders, unless the depositary determines,
after consultation with us, that it is not feasible to make such distribution. If this occurs, the depositary may, with our approval,
sell such property and distribute the net proceeds from such sale to the holders. The deposit agreement also will contain provisions
relating to how any subscription or similar rights that we may offer to holders of the preferred stock will be available to the
holders of the depositary shares.
Withdrawal
of Shares
Upon surrender
of the depositary receipts at the corporate trust office of the depositary, unless the related depositary shares have previously
been called for redemption, converted or exchanged into our other securities, the holder of the depositary shares evidenced thereby
is entitled to delivery of the number of whole shares of the related class or series of preferred stock and any money or other
property represented by such depositary shares. Holders of depositary receipts will be entitled to receive whole shares of the
related class or series of preferred stock on the basis set forth in the prospectus supplement for such class or series of preferred
stock, but holders of such whole shares of preferred stock will not thereafter be entitled to exchange them for depositary shares.
If the depositary receipts delivered by the holder evidence a number of depositary shares in excess of the number of depositary
shares representing the number of whole shares of preferred stock to be withdrawn, the depositary will deliver to such holder
at the same time a new depositary receipt evidencing such excess number of depositary shares. In no event will fractional shares
of preferred stock be delivered upon surrender of depositary receipts to the depositary.
Conversion,
Exchange and Redemption
If any class
or series of preferred stock underlying the depositary shares may be converted or exchanged, each record holder of depositary
receipts representing the shares of preferred stock being converted or exchanged will have the right or obligation to convert
or exchange the depositary shares represented by the depositary receipts. Whenever we redeem or convert shares of preferred stock
held by the depositary, the depositary will redeem or convert, at the same time, the number of depositary shares representing
the preferred stock to be redeemed or converted. The depositary will redeem the depositary shares from the proceeds it receives
from the corresponding redemption of the applicable series of preferred stock. The depositary will mail notice of redemption or
conversion to the record holders of the depositary shares that are to be redeemed between 30 and 60 days before the date fixed
for redemption or conversion. The redemption price per depositary share will be equal to the applicable fraction of the redemption
price per share on the applicable class or series of preferred stock. If less than all the depositary shares are to be redeemed,
the depositary will select which shares are to be redeemed by lot on a pro rata basis or by any other equitable method as the
depositary may decide. After the redemption or conversion date, the depositary shares called for redemption or conversion will
no longer be outstanding. When the depositary shares are no longer outstanding, all rights of the holders will end, except the
right to receive money, securities or other property payable upon redemption or conversion.
Voting
the Preferred Stock
When the depositary
receives notice of a meeting at which the holders of the particular class or series of preferred stock are entitled to vote, the
depositary will mail the particulars of the meeting to the record holders of the depositary shares. Each record holder of depositary
shares on the record date may instruct the depositary on how to vote the shares of preferred stock underlying the holder’s
depositary shares. The depositary will try, if practical, to vote the number of shares of preferred stock underlying the depositary
shares according to the instructions. We will agree to take all reasonable action requested by the depositary to enable it to
vote as instructed.
Amendment
and Termination of the Deposit Agreement
We and the
depositary may agree at any time to amend the deposit agreement and the depositary receipt evidencing the depositary shares. Any
amendment that (1) imposes or increases certain fees, taxes or other charges payable by the holders of the depositary shares as
described in the deposit agreement or (2) otherwise materially adversely affects any substantial existing rights of holders of
depositary shares, will not take effect until such amendment is approved by the holders of at least a majority of the depositary
shares then outstanding. Any holder of depositary shares that continues to hold its shares after such amendment has become effective
will be deemed to have agreed to the amendment.
We may direct
the depositary to terminate the deposit agreement by mailing a notice of termination to holders of depositary shares at least
30 days prior to termination. The depositary may terminate the deposit agreement if 90 days have elapsed after the depositary
delivered written notice of its election to resign and a successor depositary is not appointed. In addition, the deposit agreement
will automatically terminate if:
| · | the
depositary has redeemed all related outstanding depositary shares; |
| · | all
outstanding shares of preferred stock have been converted into or exchanged for common
stock; or |
| · | we
have liquidated, terminated or wound up our business and the depositary has distributed
the preferred stock of the relevant series to the holders of the related depositary shares. |
Reports
and Obligations
The depositary
will forward to the holders of depositary shares all reports and communications from us that are delivered to the depositary and
that we are required by law, the rules of an applicable securities exchange or our restated certificate of incorporation, as amended,
to furnish to the holders of the preferred stock. Neither we nor the depositary will be liable if the depositary is prevented
or delayed by law or any circumstances beyond its control in performing its obligations under the deposit agreement. The deposit
agreement limits our obligations to performance in good faith of the duties stated in the deposit agreement. The depositary assumes
no obligation and will not be subject to liability under the deposit agreement except to perform such obligations as are set forth
in the deposit agreement without negligence or bad faith. Neither we nor the depositary will be obligated to prosecute or defend
any legal proceeding connected with any depositary shares or class or series of preferred stock unless the holders of depositary
shares requesting us to do so furnish us with a satisfactory indemnity. In performing our obligations, we and the depositary may
rely and act upon the advice of our counsel on any information provided to us by a person presenting shares for deposit, any holder
of a receipt, or any other document believed by us or the depositary to be genuine and to have been signed or presented by the
proper party or parties.
Payment
of Fees and Expenses
We will pay
all fees, charges and expenses of the depositary, including the initial deposit of the preferred stock and any redemption of the
preferred stock. Holders of depositary shares will pay taxes and governmental charges and any other charges as are stated in the
deposit agreement for their accounts.
Resignation
and Removal of Depositary
At any time,
the depositary may resign by delivering notice to us, and we may remove the depositary at any time. Resignations or removals will
take effect upon the appointment of a successor depositary and its acceptance of the appointment. The successor depositary must
be appointed within 90 days after the delivery of the notice of resignation or removal and must be a bank or trust company having
its principal office in the United States and having a combined capital and surplus of at least $50,000,000.
DESCRIPTION
OF PURCHASE CONTRACTS
This section
describes the general terms and provisions of the purchase contracts. The applicable prospectus supplement will describe the specific
terms of the purchase contracts offered by that prospectus supplement and any general terms outlined in this section that will
not apply to those purchase contracts.
We may issue
purchase contracts for the purchase or sale of:
| · | debt
or equity securities issued by us or securities of third parties, a basket of such securities,
an index or indices of such securities or any combination of the above as specified in
the applicable prospectus supplement; |
Each purchase
contract will entitle the holder thereof to purchase or sell, and obligate us to sell or purchase, on specified dates, such securities,
currencies or commodities at a specified purchase price, which may be based on a formula, all as set forth in the applicable prospectus
supplement. We may, however, satisfy our obligations, if any, with respect to any purchase contract by delivering the cash value
of such purchase contract or the cash value of the property otherwise deliverable or, in the case of purchase contracts on underlying
currencies, by delivering the underlying currencies, as set forth in the applicable prospectus supplement. The applicable prospectus
supplement will also specify the methods by which the holders may purchase or sell such securities, currencies or commodities
and any acceleration, cancellation or termination provisions or other provisions relating to the settlement of a purchase contract.
The purchase
contracts may require us to make periodic payments to the holders thereof or vice versa, which payments may be deferred to the
extent set forth in the applicable prospectus supplement, and those payments may be unsecured or prefunded on some basis. The
purchase contracts may require the holders thereof to secure their obligations in a specified manner to be described in the applicable
prospectus supplement. Alternatively, purchase contracts may require holders to satisfy their obligations thereunder when the
purchase contracts are issued. Our obligation to settle such pre-paid purchase contracts on the relevant settlement date may constitute
indebtedness.
PLAN
OF DISTRIBUTION
We may sell
the securities being offered hereby in one or more of the following ways from time to time:
| · | to
underwriters or dealers for resale to the public or to other purchasers; |
| · | directly
to one or more purchasers; |
| · | as
part of a consent solicitation; or |
| · | through
a combination of any of these methods of sale. |
We will disclose
in the applicable prospectus supplement any required information with respect to the selling stockholders, if any.
If we use
underwriters or dealers in the sale, the securities will be acquired by the underwriters or dealers for their own account and
may be resold from time to time in one or more transactions, including:
| · | at
a fixed price or prices, which may be changed from time to time; |
| · | in
“at the market offerings” within the meaning of Rule 415(a)(4) under the
Securities Act; |
| · | at
prices related to such prevailing market prices; or |
For each series
of securities, the applicable prospectus supplement will set forth the terms of the offering of the securities, which may include:
| · | the
initial public offering price; |
| · | the
method of distribution, including the names of any underwriters, dealers or agents; |
| · | the
purchase price of the securities; |
| · | our
net proceeds from the sale of securities by us; |
| · | any
underwriting discounts, agency fees, or other compensation payable to underwriters or
agents; |
| · | any
discounts or concessions allowed or reallowed or repaid to dealers; and |
| · | the
securities exchanges on which the securities will be listed, if any. |
If we use
underwriters in the sale, they will buy the securities for their own account. The underwriters may then resell the securities
in one or more transactions at a fixed public offering price or at varying prices determined at the time of sale or thereafter.
The obligations of the underwriters to purchase the securities will be subject to certain conditions. The underwriters may be
obligated to purchase all the securities offered if they purchase any securities. Any initial public offering price and any discounts
or concessions allowed or reallowed or paid to dealers may be changed from time to time. In connection with an offering, underwriters
and selling group members and their affiliates may engage in transactions to stabilize, maintain or otherwise affect the market
price of the securities in accordance with applicable law.
If we use
dealers in the sale, we will sell securities to such dealers as principals. The dealers may then resell the securities in one
or more transactions at a fixed offering price or at varying prices to be determined by such dealers at the time of resale. If
we use agents in the sale, they may use their reasonable best efforts to solicit purchases for the period of their appointment.
If we sell directly, no underwriters would be involved. We are not making an offer of securities in any jurisdiction that does
not permit such an offer.
Underwriters,
dealers and agents that participate in the securities distribution may be deemed to be underwriters as defined in the Securities
Act. Any discounts, commissions or profit they receive when they resell the securities may be treated as underwriting discounts
and commissions under the Securities Act. We may have agreements with underwriters, dealers and agents to indemnify them against
certain civil liabilities, including certain liabilities under the Securities Act, or to contribute with respect to payments that
they may be required to make. Underwriters, dealers and agents may engage in transactions with, or perform services for, us or
our subsidiaries in the ordinary course of their business.
We may authorize
underwriters, dealers or agents to solicit offers from certain institutions whereby the institutions contractually agree to purchase
the securities from us on a future date at a specific price. This type of contract may be made only with institutions that we
specifically approve. Such institutions could include banks, insurance companies, pension funds, investment companies and educational
and charitable institutions. The underwriters, dealers or agents will not be responsible for the validity or performance of these
contracts.
Unless otherwise
specified in the applicable prospectus supplement, we will not list any securities (other than our common stock) on any exchange.
The underwriters, if any, of the securities may make a market in the securities. If the underwriters make a market in the securities,
such market making may be discontinued at any time without notice. No assurance can be given as to the liquidity of the trading
market for any securities.
LEGAL
MATTERS
The validity
of the securities offered by this prospectus will be passed upon for us by Skadden, Arps, Slate, Meagher & Flom LLP, New York,
New York, and for any underwriters or agents by counsel named in the applicable prospectus supplement.
EXPERTS
Ernst &
Young LLP, independent registered public accounting firm, has audited our consolidated financial statements included in our Annual
Report on Form 10-K for the year ended December 31, 2021, and the effectiveness of our internal control over financial reporting
as of December 31, 2021, as set forth in their reports, which are incorporated by reference in this prospectus and elsewhere in
the registration statement. Our consolidated financial statements are, and our audited financial statements to be included in
subsequently filed documents will be, incorporated by reference herein in reliance on the reports of Ernst & Young LLP pertaining
to such financial statements and the effectiveness of our internal control over financial reporting as of the respective dates
(to the extent covered by consents filed with the Securities and Exchange Commission), given on the authority of Ernst & Young
LLP as experts in accounting and auditing.
PART
II
INFORMATION NOT REQUIRED IN PROSPECTUS
Item
14. Other Expenses of Issuance and Distribution.
The following
table sets forth the expenses, other than underwriting discounts and commissions, payable by us in connection with the sale of
the securities being registered hereby. All amounts are estimates:
| |
Amount to
be paid
| |
SEC registration fee | |
$ | * | |
Accounting fees and expenses | |
| * | |
Legal fees and expenses | |
| * | |
Printing expenses | |
| * | |
Transfer agent, registrar and trustee fees and expenses | |
| * | |
Rating agency fees | |
| * | |
Miscellaneous expenses | |
| * | |
| |
$ | * | |
* | Because
this registration statement covers an indeterminate amount of securities, the SEC registration
fee and other expenses are not currently determinable. Such SEC registration fee is deferred
in accordance with Rules 456(b) and Rule 457(r) under the Securities Act. |
Item
15. Indemnification of Directors and Officers.
Set forth
below is a description of certain provisions of the restated certificate of incorporation, as amended, and by-laws of The Coca-Cola
Company (the “registrant”) and the General Corporation Law of the State of Delaware (“DGCL”), as such
provisions relate to the indemnification of the directors and officers of the registrant. This description is intended only as
a summary and is qualified in its entirety by reference to the restated certificate of incorporation, as amended, the by-laws
and the DGCL.
Section
145 of the DGCL provides that a corporation may indemnify directors and officers as well as other employees and individuals against
expenses, including attorneys’ fees, judgments, fines and amounts paid in settlement in connection with specified actions,
suits and proceedings whether civil, criminal, administrative, or investigative, other than a derivative action by or in the right
of the corporation, if they acted in good faith and in a manner they reasonably believed to be in or not opposed to the best interests
of the corporation and, with respect to any criminal action or proceeding, had no reasonable cause to believe their conduct was
unlawful. A similar standard is applicable in the case of derivative actions, except that indemnification extends only to expenses,
including attorneys’ fees, incurred in connection with the defense or settlement of such action and the statute requires
court approval before there can be any indemnification where the person seeking indemnification has been found liable to the corporation.
The statute provides that it is not exclusive of other indemnification that may be granted by a corporation’s certificate
of incorporation, as amended, by-laws, disinterested director vote, stockholder vote, agreement, or otherwise.
As permitted
by the DGCL, the registrant’s restated certificate of incorporation, as amended, provides that directors will not be personally
liable to the registrant or its shareowners for monetary damages for breach of fiduciary duty as a director, except for liability:
| · | for
any breach of the director’s duty of loyalty to the registrant or its shareowners,
for acts or omissions not in good faith or which involve intentional misconduct or a
knowing violation of law, |
| · | under
Section 174 of the DGCL (providing for liability of directors for unlawful payment of
dividends or unlawful stock purchases or redemptions), or |
| · | for
any transaction from which the director derived any improper personal benefit. |
If the
DGCL is amended to authorize corporate action further eliminating or limiting the personal liability of directors, then the liability
of the registrant’s directors shall be eliminated or limited to the fullest extent permitted by the DGCL, as so amended.
Article
VII of the registrant’s by-laws provides that the registrant shall indemnify any person who was or is a party or is threatened
to be made a party to any threatened, pending or completed action, suit or proceeding, whether civil, criminal, administrative
or investigative (other than an action by or in the right of the registrant) by reason of the fact that he is or was a director,
officer, employee, or agent of the registrant, or is or was serving at the request of the registrant as a director, officer, employee
or agent of another corporation, partnership, joint venture, trust or other enterprise, against expenses (including attorneys’
fees), judgments, fines and amounts paid in settlement actually and reasonably incurred by him in connection with such action,
suit or proceeding if he acted in good faith and in a manner he reasonably believed to be in or not opposed to the best interest
of the registrant, and, with respect to any criminal action or proceeding, had no reasonable cause to believe his conduct was
unlawful. The termination of any action, suit or proceeding by judgment, order, settlement, conviction, or upon a plea of nolo
contendere or its equivalent, shall not, of itself, create a presumption that the person did not act in good faith and in a manner
which he reasonably believed to be in or not opposed to the best interest of the registrant, and with respect to any criminal
action or proceeding, had reasonable cause to believe that his conduct was unlawful. Notwithstanding the foregoing, except with
respect to a proceeding to enforce rights to indemnification or advancement of expenses under Article VII, the registrant is required
to indemnify a person under this Article VII in connection with a proceeding (or part thereof) initiated by such person only if
such proceeding (or part thereof) was authorized by the board of directors of the registrant.
The registrant
will also indemnify any person who was or is a party or is threatened to be made a party to any threatened, pending or completed
action or suit by or in the right of the registrant to procure a judgment in its favor by reason of the fact that he is or was
a director, officer, employee or agent of the registrant, or is or was serving at the request of the registrant, as a director,
officer, employee or agent of another corporation, partnership, joint venture, trust or other enterprise against expenses (including
attorneys’ fees) actually and reasonably incurred by him in connection with the defense or settlement of such action or
suit if he acted in good faith and in a manner he reasonably believed to be in or not opposed to the best interests of the registrant
and except that no indemnification shall be made in respect of any claim, issue or matter as to which such person shall have been
adjudged to be liable to the registrant unless and only to the extent that the Court of Chancery or the court in which such action
or suit was brought shall determine upon application that, despite the adjudication of liability but in view of all the circumstances
of the case, such person is fairly and reasonably entitled to indemnity for such expenses which the Court of Chancery or such
other court shall deem proper.
Article
VII of the by-laws further provides that the registrant may purchase and maintain insurance on behalf of any person who is or
was a director, officer, employee or agent of the registrant.
The registrant
has purchased directors’ and officers’ liability insurance covering many of the possible actions and omissions of
persons acting or failing to act in such capacities.
Article
VII of the by-laws also provides that the registrant shall have the power to enter into indemnification agreements with any director,
officer, employee or agent of the registrant in furtherance of the provisions of Article VII.
Item
16. List of Exhibits.
The list
of exhibits is set forth under “Exhibit Index” at the end of this registration statement and is incorporated herein
by reference.
Exhibit
No. |
|
Description
|
1.1 |
|
Form
of underwriting agreement.* |
4.1 |
|
As
permitted by the rules of the SEC, the Company has not filed certain instruments defining the rights of holders of long-term
debt of the Company or consolidated subsidiaries under which the total amount of securities authorized does not exceed 10
percent of the total assets of the Company and its consolidated subsidiaries. The Company agrees to furnish to the SEC, upon
request, a copy of any omitted instrument. |
4.2 |
|
Amended
and Restated Indenture, dated as of April 26, 1988, between the Company and Deutsche Bank Trust Company Americas, as successor
to Bankers Trust Company, as trustee—incorporated herein by reference to Exhibit 4.1 to the Company’s Registration
Statement on Form S-3 (Registration No. 33-50743) filed on October 25, 1993. |
4.3 |
|
First
Supplemental Indenture, dated as of February 24, 1992, to Amended and Restated Indenture, dated as of April 26, 1988, between
the Company and Deutsche Bank Trust Company Americas, as successor to Bankers Trust Company, as trustee—incorporated
herein by reference to Exhibit 4.2 to the Company’s Registration Statement on Form S-3 (Registration No. 33-50743) filed
on October 25, 1993. |
4.4 |
|
Second
Supplemental Indenture, dated as of November 1, 2007, to Amended and Restated Indenture, dated as of April 26, 1988, as amended,
between the Company and Deutsche Bank Trust Company Americas, as successor to Bankers Trust Company, as trustee—incorporated
herein by reference to Exhibit 4.3 to the Company’s Current Report on Form 8-K filed on March 5, 2009. |
4.5 |
|
Form
of subordinated indenture between the Company and Deutsche Bank Trust Company Americas, as trustee (incorporated by reference
to Exhibit 4.4 to the Company’s Registration Statement on Form S-3 (Registration No. 333-146983), which was filed with
the Securities and Exchange Commission on October 29, 2007). |
4.6 |
|
Form
of warrant agreement for warrants sold attached to debt securities (incorporated by reference to Exhibit 4.3 to the Company’s
Registration Statement on Form S-3 (Registration No. 333-59936), which was filed with the Securities and Exchange Commission
on May 1, 2001). |
4.7 |
|
Form
of warrant sold attached to debt securities (incorporated by reference to Exhibit 4.3 to the Company’s Registration
Statement on Form S-3 (Registration No. 333-59936), which was filed with the Securities and Exchange Commission on May 1,
2001). |
4.8 |
|
Form
of warrant agreement for warrants sold alone (incorporated by reference to Exhibit 4.5 to the Company’s Registration
Statement on Form S-3 (Registration No. 333-59936), which was filed with the Securities and Exchange Commission on May 1,
2001). |
4.9 |
|
Form
of warrant sold alone (incorporated by reference to Exhibit 4.5 to the Company’s Registration Statement on Form S-3
(Registration No. 333-59936), which was filed with the Securities and Exchange Commission on May 1, 2001). |
4.10 |
|
Form
of warrant agreement, including form of warrant certificate.* |
4.11 |
|
Form
of deposit agreement, including form of depositary receipt for depositary shares.* |
4.12 |
|
Form
of purchase contract.* |
5.1 |
|
Opinion of Skadden, Arps, Slate, Meagher & Flom LLP. |
23.1 |
|
Consent of Ernst & Young LLP. |
23.2 |
|
Consent of Skadden, Arps, Slate, Meagher & Flom LLP (included in Exhibit 5.1). |
24.1 |
|
Powers of Attorney of Officers and Directors signing this Registration Statement on Form S-3. |
25.1 |
|
Form T-1 statement of eligibility under the Trust Indenture Act of 1939, as amended, of Deutsche Bank Trust Company Americas, as trustee for the senior debt securities. |
25.2 |
|
Form T-1 statement of eligibility under the Trust Indenture Act of 1939, as amended, of Deutsche Bank Trust Company Americas, as trustee for the subordinated debt securities. |
|
|
|
107 |
|
Filing Fee Table |
*
To be filed as an exhibit to a Current Report on Form 8-K and incorporated by reference herein.
Item
17. Undertakings.
| (a) | The
undersigned registrant hereby undertakes: |
| (1) | To
file, during any period in which offers or sales are being made, a post-effective amendment
to this registration statement: |
| (i) | To
include any prospectus required by Section 10(a)(3) of the Securities Act; |
| (ii) | To
reflect in the prospectus any facts or events arising after the effective date of the
registration statement (or the most recent post-effective amendment thereof) which, individually
or in the aggregate, represent a fundamental change in the information set forth in the
registration statement. Notwithstanding the foregoing, any increase or decrease in volume
of securities offered (if the total dollar value of securities offered would not exceed
that which was registered) and any deviation from the low or high end of the estimated
maximum offering range may be reflected in the form of prospectus filed with the Commission
pursuant to Rule 424(b) if, in the aggregate, the changes in volume and price represent
no more than 20% change in the maximum aggregate offering price set forth in the “Calculation
of Registration Fee” table in the effective registration statement; and |
| (iii) | To
include any material information with respect to the plan of distribution not previously
disclosed in the registration statement or any material change to such information in
the registration statement; |
provided,
however, that paragraphs (a)(1)(i), (a)(1)(ii) and (a)(1)(iii) of this section do not apply if the registration statement
is on Form S-3 or Form F-3 and the information required to be included in a post-effective amendment by those paragraphs is contained
in reports filed with or furnished to the Commission by the registrant pursuant to section 13 or section 15(d) of the Exchange
Act that are incorporated by reference in the registration statement, or is contained in a form of prospectus filed pursuant to
Rule 424(b) that is part of the registration statement.
| (2) | That,
for the purpose of determining any liability under the Securities Act, each such post-effective
amendment shall be deemed to be a new registration statement relating to the securities
offered therein, and the offering of such securities at that time shall be deemed to
be the initial bona fide offering thereof. |
| (3) | To
remove from registration by means of a post-effective amendment any of the securities
being registered which remain unsold at the termination of the offering. |
| (4) | That,
for the purpose of determining liability under the Securities Act to any purchaser: |
| (i) | Each
prospectus filed by the registrant pursuant to Rule 424(b)(3) shall be deemed to be part
of the registration statement as of the date the filed prospectus was deemed part of
and included in the registration statement; and |
| (ii) | Each
prospectus required to be filed pursuant to Rule 424(b)(2), (b)(5) or (b)(7) as part
of a registration statement in reliance on Rule 430B relating to an offering made pursuant
to Rule 415(a)(1)(i), (vii), or (x) for the purpose of providing the information required
by section 10(a) of the Securities Act shall be deemed to be part of and included in
the registration statement as of the earlier of the date such form of prospectus is first
used after effectiveness or the date of the first contract of sale of securities in the
offering described in the prospectus. As provided in Rule 430B, for liability purposes
of the issuer and any person that is at that date an underwriter, such date shall be
deemed to be a new effective date of the registration statement relating to the securities
in the registration statement to which that prospectus relates, and the offering of such
securities at that time shall be deemed to be the initial bona fide offering thereof;
provided, however, that no statement made in a registration statement or
prospectus that is part of the registration statement or made in a document incorporated
or deemed incorporated by reference into the registration statement or prospectus that
is part of the registration statement will, as to a purchaser with a time of contract
of sale prior to such effective date, supersede or modify any statement that was made
in the registration statement or prospectus that was part of the registration statement
or made in any such document immediately prior to such effective date. |
| (5) | That,
for the purpose of determining liability of the registrant under the Securities Act to
any purchaser in the initial distribution of the securities, the undersigned registrant
undertakes that in a primary offering of securities of the undersigned registrant pursuant
to this registration statement, regardless of the underwriting method used to sell the
securities to the purchaser, if the securities are offered or sold to such purchaser
by means of any of the following communications, the undersigned registrant will be a
seller to the purchaser and will be considered to offer or sell such securities to such
purchaser: |
| (i) | Any
preliminary prospectus or prospectus of the undersigned registrant relating to the offering
required to be filed pursuant to Rule 424; |
| (ii) | Any
free writing prospectus relating to the offering prepared by or on behalf of the undersigned
registrant or used or referred to by the undersigned registrant; |
| (iii) | The
portion of any other free writing prospectus relating to the offering containing material
information about the undersigned registrant or its securities provided by or on behalf
of the undersigned registrant; and |
| (iv) | Any
other communication that is an offer in the offering made by the undersigned registrant
to the purchaser. |
| (b) | The
undersigned registrant hereby undertakes that, for purposes of determining any liability
under the Securities Act, each filing of the registrant’s annual report pursuant
to Section 13(a) or Section 15(d) of the Exchange Act (and, where applicable, each filing
of an employee benefit plan’s annual report pursuant to Section 15(d) of the Exchange
Act) that is incorporated by reference in the registration statement shall be deemed
to be a new registration statement relating to the securities offered therein, and the
offering of such securities at that time shall be deemed to be the initial bona fide
offering thereof. |
| (c) | Insofar
as indemnification for liabilities arising under the Securities Act may be permitted
to directors, officers and controlling persons of the registrant pursuant to the foregoing
provisions, or otherwise, the registrant has been advised that in the opinion of the
Securities and Exchange Commission such indemnification is against public policy as expressed
in the Securities Act and is, therefore, unenforceable. In the event that a claim for
indemnification against such liabilities (other than the payment by the registrant of
expenses incurred or paid by a director, officer or controlling person of the registrant
in the successful defense of any action, suit or proceeding) is asserted by such director,
officer or controlling person in connection with the securities being registered, the
registrant will, unless in the opinion of its counsel the matter has been settled by
controlling precedent, submit to a court of appropriate jurisdiction the question whether
such indemnification by it is against public policy as expressed in the Securities Act
and will be governed by the final adjudication of such issue. |
SIGNATURES
Pursuant
to the requirements of the Securities Act of 1933, the registrant has duly caused this registration statement to be signed on
its behalf by the undersigned, thereunto duly authorized, in the City of Atlanta, State of Georgia, on the 28th day
of October, 2022.
|
THE COCA-COLA COMPANY |
|
|
|
|
By: |
/s/
John Murphy |
|
|
Name: John Murphy |
|
|
Title: President and
Chief Financial Officer |
Pursuant
to the requirements of the Securities Act of 1933, this registration statement has been signed by the following persons in the
capacities and on the dated indicated.
Signature |
|
Title |
|
Date |
|
|
|
|
|
/s/ James R. Quincey |
|
Chairman of the Board of Directors and
Chief |
|
October 28, 2022 |
James R. Quincey |
|
Executive Officer (Principal Executive
Officer) |
|
|
|
|
|
|
|
/s/ John Murphy |
|
President and Chief Financial Officer |
|
October 28, 2022 |
John Murphy |
|
(Principal Financial Officer) |
|
|
|
|
|
|
|
/s/ Mark Randazza |
|
Vice President, Assistant Controller and
Chief |
|
October 28, 2022 |
Mark Randazza |
|
Accounting Officer (Principal Accounting
Officer) |
|
|
|
|
|
|
|
* |
|
Director |
|
October 28, 2022 |
Herb Allen |
|
|
|
|
|
|
|
|
|
* |
|
Director |
|
October 28, 2022 |
Marc Bolland |
|
|
|
|
|
|
|
|
|
* |
|
Director |
|
October 28, 2022 |
Ana Botín |
|
|
|
|
|
|
|
|
|
* |
|
Director |
|
October 28, 2022 |
Christopher C. Davis |
|
|
|
|
|
|
|
|
|
* |
|
Director |
|
October 28, 2022 |
Barry Diller |
|
|
|
|
|
|
|
|
|
* |
|
Director |
|
October 28, 2022 |
Carolyn Everson |
|
|
|
|
|
|
|
|
|
* |
|
Director |
|
October 28, 2022 |
Helene D. Gayle |
|
|
|
|
|
|
|
|
|
* |
|
Director |
|
October 28, 2022 |
Alexis M. Herman |
|
|
|
|
|
|
|
|
|
* |
|
Director |
|
October 28, 2022 |
Maria Elena Lagomasino |
|
|
|
|
|
|
|
|
|
* |
|
Director |
|
October 28, 2022 |
Caroline J. Tsay |
|
|
|
|
|
|
|
|
|
* |
|
Director |
|
October 28, 2022 |
David B. Weinberg |
|
|
|
|
|
*By: |
/s/ Jennifer D. Manning |
|
|
Jennifer D. Manning |
|
|
Attorney-in-Fact |
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