Scotiabank plans floored floaters linked to 10-year CMS rate

By Marisa Wong

Madison, Wis., May 21 - Bank of Nova Scotia plans to price floored floating-rate notes due June 10, 2021, according to a 424B5 filing with the Securities and Exchange Commission.

The interest rate will equal 0.58 times the 10-year Constant Maturity Swap rate, subject to a minimum rate of 2%. Interest will be payable quarterly.

The payout at maturity will be par.

Scotia Capital (USA) Inc. and Barclays are the underwriters.

The notes will price on June 5 and settle on June 10.

The Cusip number is 064159EV4.

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