SCEG--FWP3

Filed Pursuant to Rule 433
Registration Statement No. 333-184426-01

South Carolina Electric & Gas Company

FINAL TERM SHEET

Dated: May 20, 2014

Issuer:    South Carolina Electric & Gas Company
Name of Securities:
First Mortgage Bonds, 4.50% Series due June 1, 2064
Size:
$300,000,000
Expected Ratings:
Moody’s: A3 (stable outlook); S&P: A (negative 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.
Trade Date:
May 20, 2014
Settlement Date:
May 27, 2014 (T+4)
Maturity Date:
June 1, 2064
Interest Payment Dates:
June 1 and December 1, commencing December 1, 2014
Coupon (Interest Rate):
4.50%
Benchmark Treasury:
3.625% due February 15, 2044
Benchmark Treasury Yield:
3.354%
Spread to Benchmark Treasury:
+120 basis points (1.20%)
Yield to Maturity:
4.554%
Make-Whole Redemption Provision:
Prior to December 1, 2063, make-whole call at Adjusted Treasury Rate +20 basis points
Par Redemption Provision:
On or after December 1, 2063



Price to Public:
98.938%, plus accrued interest from, and including, May 27, 2014
Underwriting Discount:
0.875%
Net Proceeds to Issuer (before expenses):
$294,189,000, plus accrued interest from, and including, May 27, 2014
Denominations:
$1,000 x $1,000
CUSIP:
837004 CH1
Joint Book-Running Managers:
Credit Suisse Securities (USA) LLC, J.P. Morgan Securities LLC, TD Securities (USA) LLC and Wells Fargo Securities, LLC
Co-Managers:
U.S. Bancorp Investments, Inc., Drexel Hamilton, LLC and FTN Financial Securities Corp
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:
Credit Suisse Securities (USA) LLC –            1-800-221-1037 (toll free)

J.P. Morgan Securities LLC –             1-212-834-4533 (collect)
TD Securities (USA) LLC –            1-855-495-9846 (toll free)
Wells Fargo Securities, LLC –            1-800-326-5897 (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.