FWP 1 fmbtermsheet.htm FMB TERM SHEET fmbtermsheet.htm

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


Dated:  January 23, 2012

South Carolina Electric & Gas Company
Name of Securities:
First Mortgage Bonds, 4.350% Series due February 1, 2042
Expected Ratings:
Moody’s: A3 (stable 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.
February 1, 2042
Coupon (Interest Rate):
Yield to Maturity:
Spread to Benchmark Treasury:
+125 basis points (1.25%)
Benchmark Treasury:
UST 3.750% due August 15, 2041
Benchmark Treasury Price and Yield:
112-13; 3.105%
Interest Payment Dates:
February 1 and August 1, commencing August 1, 2012
Make-Whole Redemption Provision:
Prior to August 1, 2041, make-whole call at Adjusted Treasury Rate +20 basis points
Par Redemption Provision:
On or after August 1, 2041
Underwriters’ Discount or Commission:
Net Proceeds to Issuer:
$247,605,000, plus accrued interest from January 30, 2012
Price to Public:
99.917%, plus accrued interest from January 30, 2012
Settlement Date:
January 30, 2012 (T+5)
$1,000 x $1,000
837004 CF5
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)
Mogan Stanley & Co. LLC -                                                             1-866-718-1649 (toll free)
UBS Securities LLC   –                                                                      1-877-827-6444, ext. 561-3884 (toll free)
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