Issuer: | South Carolina Electric & Gas Company |
Name of Securities:
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First Mortgage Bonds, 5.450% Series due February 1, 2041
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Size:
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$100,000,000
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Expected Ratings:
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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.
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Maturity:
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February 1, 2041
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Coupon (Interest Rate):
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5.450%
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Yield to Maturity:
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5.262%
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Spread to Benchmark Treasury:
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+105 basis points (1.05%)
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Benchmark Treasury:
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UST 4.750% due February 15, 2041
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Benchmark Treasury Price and Yield:
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109-02; 4.212%
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Interest Payment Dates:
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February 1 and August 1, commencing August 1, 2011
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Make-Whole Redemption Provision:
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Prior to August 1, 2040, make whole call at Adjusted Treasury Rate +15 basis points (0.15%)
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Par Redemption Provision:
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On or after August 1, 2040
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Underwriters’ Discount or Commission:
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0.875%
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Net Proceeds to Issuer:
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$101,924,000, plus accrued interest from January 27, 2011
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Price to Public:
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102.799%, plus accrued interest from January 27, 2011
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Settlement Date:
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May 24, 2011 (T+5)
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Denominations:
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$1,000 x $1,000
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CUSIP:
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837004 CE8
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J.P. Morgan Securities LLC –
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1-212-834-4533 (collect)
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Mizuho Securities USA Inc. – | 1-866-271-7403 (toll free) |