FWP 1 a11-2953_3fwp.htm FWP

 

Filed Pursuant to Rule 433

Registration Statement No. 333-163075-01

 

South Carolina Electric & Gas Company

 

FINAL TERM SHEET

 

Dated:  January 20, 2011

 

Issuer:

 

South Carolina Electric & Gas Company

 

 

 

Name of Securities:

 

First Mortgage Bonds, 5.450% Series due February 1, 2041

 

 

 

Size:

 

$250,000,000

 

 

 

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:

 

5.475%

 

 

 

Spread to Benchmark Treasury:

 

+90 basis points (0.90%)

 

 

 

Benchmark Treasury:

 

UST 3.875% due August 15, 2040

 

 

 

Benchmark Treasury Price and Yield:

 

88-23; 4.575%

 

 

 

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:

 

$246,895,000, plus accrued interest from January 27, 2011

 

 

 

Price to Public:

 

99.633%, plus accrued interest from January 27, 2011

 

 

 

Settlement Date:

 

January 27, 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:

 

Merrill Lynch, Pierce, Fenner & Smith
Incorporated —

 

1-800-294-1322 (toll free)

 

 

 

BB&T Capital Markets,
a division of Scott & Stringfellow, LLC —

 

804-787-8221 (collect)

 

 

 

Credit Suisse Securities (USA) LLC —

 

1-800-221-1037 (toll free)

 

 

 

TD Securities (USA) LLC —

 

1-800-263-5292 (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.