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Prospect News home > News index > List of issuers 3 > Headlines for 30-year Constant Maturity Swap rate > News item |
Scotiabank plans capped fixed-to-floaters linked to 30-year CMS rate
By Angela McDaniels
Tacoma, Wash., Jan. 22 - Bank of Nova Scotia plans to price capped fixed-to-floating-rate notes due Jan. 30, 2026, according to a 424B5 filing with the Securities and Exchange Commission.
The interest rate will be 4% for the first year. After that, it will be 0.8 times the 30-year Constant Maturity Swap rate, subject to a cap of 10% per year. 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 Jan. 27 and settle Jan. 30.
The Cusip number is 064159DK9.
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