PRICING SUPPLEMENT NO. 3 (To Prospectus dated October 23, 2001)
DATED AUGUST 8, 2002 Rule 424(b)(2)
File Nos. 333-49960, 333-90073 and 333-68266
SCANA CORPORATION
Medium-Term Notes
Due Nine Months or More From Date of Issue
Principal Amount: $100,000,000 Original Issue Date: August 15, 2002
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Issue Price: 100 % Maturity Date: August 15, 2003
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Net Proceeds to Company: $99,800,000 x Book-Entry Note
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Certificated Note
x Agent. Agent's Commission: .200%
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Principal.
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Redemption by Company (check one):
No. The Notes are not subject to redemption.
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x Yes. The Notes are subject to redemption as described below under
------- "Optional Redemption by the Company."
Initial Redemption Date: February 15, 2003
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Optional Repayment at Option of Holder (if applicable, check one):
x No. The Notes are not subject to repayment.
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Yes. The Holder may elect repayment as follows:
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Optional Repayment Date(s):
Optional Repayment Price(s):
Provisions:
Interest (check one):
Fixed Rate Note. If this box is checked, the interest rate on the
Notes shall be % per annum.
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x Floating Rate Note. The Initial Interest Rate on the Notes shall be
------ determined on August 13, 2002 for the Interest Payment Period
commencing August 15, 2002. The interest rate on the Notes shall be
calculated as set forth in the prospectus dated October 23, 2001 and as
further described below under "Interest Rate," using the following
terms, as applicable:
Base Rate: LIBOR
Index Maturity: 3 Month
Spread: +.875%
Designated Libor Page: Libor Telerate, page 3750
Interest Payment Period: Quarterly
Interest Payment Dates: 15th day of each August, November,
February and May, commencing
November 15, 2002,
(provided that if any such date
(other than the Maturity Date) is
not a Business Day (as defined in
the prospectus dated October 23,
2001), then the next succeeding day that
is a Business Day).
Interest Reset Period: Quarterly
Interest Reset Dates: Same as Interest Payment Dates (provided
that if not a Business Day, then the
next suceeding day that is a Business Day).
Record Dates: 15 days prior to each Interest Payment Date
Interest Determination
Date: 2 Business Days prior to each Interest
Reset Date
To the extent of any conflict between the terms of the prospectus and this
pricing supplement, this pricing supplement shall govern.
Optional Redemption by the Company
The Notes will be redeemable at the option of the Company, in whole but
not in part, upon notice given as described in the prospectus dated October 23,
2001 at any time on or after February 15, 2002, at a redemption price equal to
100% of the principal amount plus accrued and unpaid interest on such Notes to
the date of redemption.
Notice of Redemption
The Notes will be subject to redemption upon not less than 30 Business
Days prior notice mailed to each holder of Notes to be redeemed at its
registered address by first-class mail. On and after the redemption date,
interest will cease to accrue on the Notes unless the Company defaults in the
payment thereof.
Except as set forth above, the Notes will not be redeemable by the
Company prior to maturity.
Interest Rate
Each Note will bear interest from August 15, 2002, at the rate
determined for each Interest Payment Period, in accordance with the prospectus
dated October 23, 2001 and the terms of this pricing supplement. Interest will
be payable on each Interest Payment Date.
The Notes will bear interest at a floating rate, reset for each
Interest Payment Period, at a per annum rate determined by The Bank of New York
or its successor appointed by the Company, acting as calculation agent, and in
accordance with the procedures described in this pricing supplement and the
prospectus dated October 23, 2001.
Original Issue Date Statement
It is expected that delivery of the Notes will be made against payment
therefor on or about the Original Issue Date which is the fifth business day
following the date of this pricing supplement. Under Rule 15c6-1 of the
Securities and Exchange Commission under the Securities Exchange Act of 1934,
trades in the secondary market generally are required to settle in three
business days unless the parties to any such trade expressly agree otherwise.
Accordingly, purchasers who wish to trade Notes on the date hereof or the next
succeeding business day will be required, by virtue of the fact that the Notes
initially will settle in T + 5, to specify an alternate settlement cycle at the
time of any such trade to prevent a failed settlement and should consult their
own advisor.
Legal Matters
Certain legal matters in connection with the validity of the
Notes offered hereby are being passed upon for the Company by McNair Law Firm,
P.A., Columbia, South Carolina and by H. Thomas Arthur, Esq. or Sarena D. Burch,
Esq. of Columbia, South Carolina, who are our Senior Vice President and General
Counsel and Deputy General Counsel, respectively, and for the lenders or Agents
(as defined in the prospectus dated October 23, 2001) by Troutman Sanders LLP,
Richmond, Virginia. Troutman Sanders LLP will rely as to all matters of South
Carolina law upon the opinion of H. Thomas Arthur, Esq. or Sarena D. Burch, Esq.
Ratings
As of the date of this pricing supplement, the Notes are rated by the
respective rating agencies as follows: Moody's (A3), Standard & Poor's (BBB+)
and Fitch Ratings (A-).
Credit Suisse First Boston
BNY Capital Markets, Inc.