FWP 1 a09-6772_3fwp.htm FWP


Filed pursuant to Rule 433

Registration No. 333-145208-01


South Carolina Electric & Gas Company




Dated:  March 10, 2009



South Carolina Electric & Gas Company








The bonds constitute a further issuance of, will form a single series with, will have the same CUSIP number as and will trade interchangeably with the $360 million aggregate principal amount of First Mortgage Bonds, 6.05% Series due January 15, 2038 previously issued by the Issuer on January 14, 2008 and June 24, 2008.



Expected Ratings:

Moody’s: A2 (stable outlook); S&P: A- (negative outlook); Fitch: A+ (negative 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.




January 15, 2038



Coupon (Interest Rate):




Yield to Maturity:




Spread to Benchmark Treasury:

+240 basis points (2.4%)



Benchmark Treasury:

4.50% due May 15, 2038



Benchmark Treasury Price and Yield:




Interest Payment Dates:

January 15 and July 15, commencing July 15, 2009



Redemption Provision:

Make whole call at Adjusted Treasury Rate +30 basis points (0.30%)



Underwriters’ Discount or Commission:




Net Proceeds to Issuer:

$172,740,750, plus accrued interest from January 15, 2009



Price to Public:

99.584%, plus accrued interest from January 15, 2009



Settlement Date:

March 17, 2009 (T + 5)




$1,000 x $1,000




837004 CB4


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:


BNY Mellon Capital Markets, LLC    – 1-(800) 269-6864 (toll free)


Mizuho Securities USA Inc. - 1-(866) 271-7403 (toll free)


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