PRICING SUPPLEMENT NO. 1 (To Prospectus dated October 23, 2001) DATED JANUARY 24, 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: $250,000,000 Original Issue Date: January 31, 2002 --------------- ---------------- Issue Price: 99.545% Maturity Date: February 1, 2012 ---------------- ---------------- Net Proceeds to Company: $247,300,000 x Book-Entry Note --------------------- -------- Certificated Note Agent. Agent's Commission: % --------- ------------- x Principal. -------- Redemption by Company (check one): No. The Notes are not subject to redemption. -------- x Yes. The Notes are subject to redemption as described below -------- under "Optional Redemption by the Company." Optional Repayment at Option of Holder (if applicable, check one): x No. The Notes are not subject to repayment. -------- Yes. The Holder may elect repayment as follows: -------- Optional Repayment Date(s): Optional Repayment Price(s): Provisions: Interest (check one): x Fixed Rate Note. If this box is checked, the interest rate on the Notes shall be 6.25% per annum. ---------- Initial Interest Payment Period: January 31, 2002 to August 1, 2002 Interest Payment Dates: February 1 and August 1, commencing August 1, 2002 Record Dates: January 15 and July 15 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 may be redeemed at any time at the option of the Company, in whole or in part, upon notice given as described in the prospectus dated October 23, 2001 at a redemption price equal to the sum of (i) the principal amount of the Notes being redeemed, plus accrued interest thereon to the redemption date, and (ii) the Make-Whole Amount, if any, with respect to such Notes. "Make-Whole Amount" means the excess, if any, of (i) the aggregate present value as of the date of any optional redemption of each dollar of principal being redeemed and the amount of interest (exclusive of interest accrued to date of redemption) that would have been payable in respect of such dollar of principal if such redemption had not been made, determined by discounting, on a semi-annual basis, such principal and interest at the Reinvestment Rate (determined on the third Business Day (as defined in the prospectus dated October 23, 2001) preceding the date notice of such redemption is given) from the respective dates on which such principal and interest would have been payable if such redemption has not been made, over (ii) the aggregate principal amount of the Notes being redeemed. "Reinvestment Rate" means .20% (twenty one-hundredths of one percent) plus the arithmetic mean of the yields under the respective headings "This Week" and "Last Week" published in the Statistical Release under the caption "Treasury Constant Maturities" for the maturity (rounded to the nearest month) corresponding to the remaining life to maturity, as of the payment date of the principal being redeemed. If no maturity exactly corresponds to such maturity, yields for the two published maturities most closely corresponding to such maturity shall be calculated pursuant to the immediately preceding sentence and the Reinvestment Rate shall be interpolated or extrapolated from such yields on a straight-line basis, rounding in each of such relevant periods to the nearest month. For purposes of calculating the Reinvestment Rate, the most recent Statistical Release published prior to the date of determination of the Make-Whole Amount shall be used. "Statistical Release" means the statistical release designated "H.15(519)" or any successor publication which is published weekly by the Federal Reserve System and which establishes yields on actively traded United States government securities adjusted to constant maturities or, if such statistical release is not published at the time of any determination, then such other reasonably comparable index which shall be designated by the Company. Underwriting We have been advised by the underwriters that they propose initially to offer the Notes to the public at the public offering price set forth on the cover page of this pricing supplement, and to certain dealers at such price less a concession not in excess of .375% of the principal amount of the Notes. The underwriters may allow and such dealers may reallow a concession not in excess of .250% of the principal amount. After the initial public offering, the public offering price and the concession may be changed. In connection with the offering, the underwriters are permitted to engage in certain transactions that stabilize the price of the Notes. Possible transactions consist of bids or purchases for the purpose of pegging, fixing or maintaining the price of the Notes. If the underwriters create a short position in the Notes in connection with this offering, that is, if they sell a greater aggregate principal amount of Notes than is set forth on the cover page of this pricing supplement, the underwriters may reduce that short position by purchasing Notes in the open market. The underwriters may also impose a penalty bid on certain selling group members. This means that if an underwriter purchases Notes in the open market to reduce its short position or to stabilize the price of the Notes, it may reclaim the amount of the selling concession from the selling group members who sold those Notes as part of the offering. In general, purchases of a security for the purposes of stabilization or to reduce a short position could cause the price of the security to be higher than it might be in the absence of such purchases. The imposition of a penalty bid might also have an effect on the price of a Note to the extent that it were to discourage resales of the Notes. Neither we nor the underwriters make any representation or prediction as to the direction or magnitude of any effect that the transactions described above might have on the price of the Notes. In addition, neither we nor the underwriters make any representation that the underwriters will engage in such transactions. Such transactions, once commenced, may be discontinued without notice. 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. UBS Warburg Credit Suisse First Boston Banc of America Securities LLC Wachovia Securities