Published on 11/19/2015 in the Prospect News Structured Products Daily.
New Issue: Scotiabank prices $2 million step-up callables with 2.5% initial rate
By Devika Patel
Knoxville, Tenn., Nov. 19 – Bank of Nova Scotia priced $2 million of step-up callable notes due Nov. 20, 2025, according to a 424B2 filing with the Securities and Exchange Commission.
The coupon will initially be 2.5%, stepping up to 4% on Nov. 20, 2021, to 5% on Nov. 20, 2022, to 6% on Nov. 20, 2023 and to 7% on Nov. 20, 2024. Interest is payable semiannually.
The payout at maturity will be par.
The notes will be callable at par on any semiannual call date after three years.
Scotia Capital (USA) Inc. is the agent.
Issuer: | Bank of Nova Scotia
|
Issue: | Step-up callable notes
|
Amount: | $2 million
|
Maturity: | Nov. 20, 2025
|
Coupon: | 2.5% initially, stepping up to 4% on Nov. 20, 2021, to 5% on Nov. 20, 2022, to 6% on Nov. 20, 2023 and to 7% on Nov. 20, 2024
|
Price: | Par of $1,000
|
Payout at maturity: | Par
|
Call option: | At par quarterly starting Nov. 20, 2018
|
Pricing date: | Nov. 17
|
Settlement date: | Nov. 20
|
Agent: | Scotia Capital (USA) Inc.
|
Fees: | 1.5%
|
Cusip: | 064159GY6
|
|
|
© 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.