By Jennifer Chiou
New York, Jan. 29 - Bank of Nova Scotia priced $11.03 million of capped fixed-to-floating notes due Jan. 30, 2026, according to a 424B2 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.
| Issuer: | Bank of Nova Scotia
|
| Issue: | Capped fixed-to-floating notes
|
| Amount: | $11.03 million
|
| Maturity: | Jan. 30, 2026
|
| Coupon: | 4% for first year; after that, 0.8 times the 30-year Constant Maturity Swap rate, subject to a cap of 10%; payable quarterly
|
| Price: | Par
|
| Payout at maturity: | Par
|
| Pricing date: | Jan. 27
|
| Settlement date: | Jan. 30
|
| Underwriters: | Scotia Capital (USA) Inc. and Barclays
|
| Fees: | 2.5%
|
| Cusip: | 064159DK9
|
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