Filed pursuant to Rule 433
Registration No. 333-145208-01
South Carolina Electric & Gas Company
FINAL TERM SHEET
Dated: March 10, 2009
Issuer: | South Carolina Electric & Gas Company |
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Size: | $175,000,000 |
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| 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. |
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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. |
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Maturity: | January 15, 2038 |
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Coupon (Interest Rate): | 6.05% |
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Yield to Maturity: | 6.08% |
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Spread to Benchmark Treasury: | +240 basis points (2.4%) |
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Benchmark Treasury: | 4.50% due May 15, 2038 |
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Benchmark Treasury Price and Yield: | 114-19/3.68% |
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Interest Payment Dates: | January 15 and July 15, commencing July 15, 2009 |
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Redemption Provision: | Make whole call at Adjusted Treasury Rate +30 basis points (0.30%) |
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Underwriters’ Discount or Commission: | .875% |
Net Proceeds to Issuer: | $172,740,750, plus accrued interest from January 15, 2009 |
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Price to Public: | 99.584%, plus accrued interest from January 15, 2009 |
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Settlement Date: | March 17, 2009 (T + 5) |
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Denominations: | $1,000 x $1,000 |
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CUSIP: | 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)
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.
