FWP 1 a11-2953_3fwp.htm FWP


Filed Pursuant to Rule 433

Registration Statement No. 333-163075-01


South Carolina Electric & Gas Company




Dated:  January 20, 2011




South Carolina Electric & Gas Company




Name of Securities:


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










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.






February 1, 2041




Coupon (Interest Rate):






Yield to Maturity:






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:






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)






$1,000 x $1,000






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)


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