fwp.htm
Filed pursuant to Rule 433
Registration Statement No. 333-163075-01
 
South Carolina Electric & Gas Company

FINAL TERM SHEET


Dated:  May 17, 2011

                                                      
 Issuer:   South Carolina Electric & Gas Company
 
Name of Securities:
First Mortgage Bonds, 5.450% Series due February 1, 2041
 
Size:
$100,000,000
 
Expected Ratings:
Moody’s: A3 (negative outlook); S&P: A (stable outlook); Fitch: A (stable outlook). A securities rating is not a recommendation to buy, sell or hold securities and may be subject to review, revision, suspension, reduction or withdrawal at any time by the assigning rating agency.
 
Maturity:
February 1, 2041
 
Coupon (Interest Rate):
5.450%
 
Yield to Maturity:
5.262%
 
Spread to Benchmark Treasury:
+105 basis points (1.05%)
 
Benchmark Treasury:
UST 4.750% due February 15, 2041
 
Benchmark Treasury Price and Yield:
109-02; 4.212%
 
Interest Payment Dates:
February 1 and August 1, commencing August 1, 2011
 
Make-Whole Redemption Provision:
Prior to August 1, 2040, make whole call at Adjusted Treasury Rate +15 basis points (0.15%)
 
Par Redemption Provision:
On or after August 1, 2040
 
Underwriters’ Discount or Commission:
0.875%
 
Net Proceeds to Issuer:
$101,924,000, plus accrued interest from January 27, 2011
 
 
 
 
 
Price to Public:
102.799%, plus accrued interest from January 27, 2011
 
Settlement Date:
May 24, 2011 (T+5)
 
Denominations:
$1,000 x $1,000
 
CUSIP:
837004 CE8
 
The issuer has filed a registration statement (including a prospectus) with the SEC for the offering to which this communication relates.  Before you invest, you should read the prospectus in that registration statement and other documents the issuer has filed with the SEC for more complete information about the issuer and this offering.  You may get these documents for free by visiting EDGAR on the SEC Web site at www.sec.gov.  Alternatively, the issuer, any underwriter or any dealer participating in the offering will arrange to send you the prospectus if you request it by calling:
 
J.P. Morgan Securities LLC   –
1-212-834-4533 (collect)
 
 
 Mizuho Securities USA Inc.   –    1-866-271-7403 (toll free)
         
Any disclaimers or other notices that may appear below are not applicable to this communication and should be disregarded.  Such disclaimers or other notices were automatically generated as a result of this communication being sent via Bloomberg or another email system.