By Susanna Moon
Chicago, Jan. 29 - Bank of Nova Scotia $45 million of callable steepener notes due Jan. 30, 2034, according to a 424B2 filing with the Securities and Exchange Commission.
Interest will accrue at 10.5% for the first year. After that, the rate will be four times the spread of the 30-year Constant Maturity Swap rate over the two-year CMS rate minus 25 basis points, up to a maximum rate of 10.5%. Interest is payable quarterly and cannot be less than zero.
The payout at maturity will be par.
The notes will be callable at par on any interest payment date after one year.
Scotia Capital (USA) Inc. is the underwriter.
| Issuer: | Bank of Nova Scotia
|
| Issue: | Callable steepener notes
|
| Amount: | $45 million
|
| Maturity: | Jan. 30, 2034
|
| Coupon: | 10.5% initially; beginning Jan. 30, 2015, four times spread of 30-year CMS rate over two-year CMS rate minus 25 bps, capped at 10.5%, floor of zero; payable quarterly
|
| Price: | Par
|
| Payout at maturity: | Par
|
| Call option: | At par on interest payment dates beginning on Jan. 30, 2015
|
| Pricing date: | Jan. 27
|
| Settlement date: | Jan. 30
|
| Underwriter: | Scotia Capital (USA) Inc.
|
| Fees: | 3.47%
|
| Cusip: | 064159DF0
|
© 2015 Prospect News.
All content on this website is protected by copyright law in the U.S. and elsewhere.
For the use of the person downloading only.
Redistribution and copying are prohibited by law without written permission in advance from Prospect News.
Redistribution or copying includes e-mailing, printing multiple copies or any other form of reproduction.
