By Susanna Moon
Chicago, Aug. 28 – Bank of Nova Scotia priced $1 million of floored floating-rate notes due Aug. 28, 2024, according to a 424B2 filing with the Securities and Exchange Commission.
Interest will be 0.7 times the 30-year Constant Maturity Swap rate, with a minimum interest rate of 2% per year. Interest is payable quarterly.
The payout at maturity will be par.
Scotia Capital (USA) Inc. and Barclays are the underwriters.
| Issuer: | Bank of Nova Scotia
|
| Issue: | Floored floating-rate notes
|
| Amount: | $1 million
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| Maturity: | Aug. 28, 2024
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| Coupon: | 0.7 times 30-year CMS rate, floor of 2%; payable quarterly
|
| Price: | Par
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| Payout at maturity: | Par
|
| Pricing date: | Aug. 25
|
| Settlement date: | Aug. 28
|
| Underwriters: | Scotia Capital (USA) Inc. and Barclays
|
| Fees: | 2%
|
| Cusip: | 064159FP6
|
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