Filed Pursuant to Rule 433
Registration Statement No. 333-184426-01
South Carolina Electric & Gas Company
FINAL TERM SHEET
Dated: May 20, 2014
Issuer: South Carolina Electric & Gas Company
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| Name of Securities: | First Mortgage Bonds, 4.50% Series due June 1, 2064 |
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| Expected Ratings: | Moody’s: A3 (stable outlook); S&P: A (negative 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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| Settlement Date: | May 27, 2014 (T+4) |
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| Maturity Date: | June 1, 2064 |
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| Interest Payment Dates: | June 1 and December 1, commencing December 1, 2014 |
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| Coupon (Interest Rate): | 4.50% |
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| Benchmark Treasury: | 3.625% due February 15, 2044 |
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| Benchmark Treasury Yield: | 3.354% |
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| Spread to Benchmark Treasury: | +120 basis points (1.20%) |
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| Make-Whole Redemption Provision: | Prior to December 1, 2063, make-whole call at Adjusted Treasury Rate +20 basis points |
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| Par Redemption Provision: | On or after December 1, 2063 |
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| Price to Public: | 98.938%, plus accrued interest from, and including, May 27, 2014 |
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| Underwriting Discount: | 0.875% |
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| Net Proceeds to Issuer (before expenses): | $294,189,000, plus accrued interest from, and including, May 27, 2014 |
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| Denominations: | $1,000 x $1,000 |
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| Joint Book-Running Managers: | Credit Suisse Securities (USA) LLC, J.P. Morgan Securities LLC, TD Securities (USA) LLC and Wells Fargo Securities, LLC |
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| Co-Managers: | U.S. Bancorp Investments, Inc., Drexel Hamilton, LLC and FTN Financial Securities Corp |
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)
J.P. Morgan Securities LLC – 1-212-834-4533 (collect)
TD Securities (USA) LLC – 1-855-495-9846 (toll free)
Wells Fargo Securities, LLC – 1-800-326-5897 (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.
