/NOT FOR DISTRIBUTION OR DISSEMINATION IN THE UNITED STATES/
TORONTO, Jan. 11, 2019 /CNW/ - The Bank of Nova Scotia ("Scotiabank") (TSX, NYSE: "BNS")
today announced an offering of $1.75
billion of 3.89% Subordinated Debentures (Non-Viability
Contingent Capital (NVCC)) due 2029 (the "Debentures") pursuant to
its July 25, 2018 base shelf
prospectus.
The Debentures, to be sold through an agency syndicate led by
Scotiabank Global Banking & Markets, are expected to be issued
on January 18, 2019. Interest
will be payable semi-annually from the date of issue until
January 18, 2024 at 3.89% per
annum. From January 18, 2024 to
maturity on January 18, 2029, the
Debentures will pay a quarterly coupon at a rate of the 90 day
bankers' acceptance plus 1.58%, beginning April 18, 2024.
On or after January 18, 2024,
Scotiabank may, at its option, with the prior approval of the
Superintendent of Financial Institutions (Canada), redeem the Debentures, in whole at
any time or in part from time to time on not less than 30 nor more
than 60 days' prior notice, at a redemption price of par plus
accrued and unpaid interest.
Net proceeds from this transaction will be used for general
banking purposes.
Scotiabank intends to file, in Canada, a prospectus supplement to its
July 25, 2018 base shelf
prospectus. A copy of this document as well as the base shelf
prospectus can be obtained at www.sedar.com.
The Debentures have not been and will not be registered under
the United States Securities Act of 1933, as amended (the
"Securities Act"), or under any state securities laws and, subject
to certain exceptions, may not be offered, sold, or delivered
directly or indirectly, within the United
States of America, its territories and possessions or to, or
for the account or benefit of, U.S. persons. This release does not
constitute an offer to sell or a solicitation to buy the Debentures
in the United States.
Scotiabank is Canada's
international bank and a leading financial services provider in the
Americas. We are dedicated to helping our 25 million customers
become better off through a broad range of advice, products and
services, including personal and commercial banking, wealth
management and private banking, corporate and investment banking,
and capital markets. With a team of more than 97,000 employees and
assets of $998 billion (as at
October 31, 2018), Scotiabank trades
on the Toronto (TSX: BNS) and New
York Exchanges (NYSE: BNS). For more information, please visit
www.scotiabank.com and follow us on Twitter @ScotiabankViews.
SOURCE Scotiabank