/NOT FOR DISTRIBUTION OR DISSEMINATION IN
THE UNITED STATES/
TORONTO, June 25, 2019 /CNW/ - The Bank of
Nova Scotia ("Scotiabank") (TSX,
NYSE: "BNS") today announced an offering of $1.5 billion of 2.836% 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 July 3, 2019. Interest will
be payable semi-annually from the date of issue until July 3, 2024 at 2.836% per annum. From
July 3, 2024 to maturity on
July 3, 2029, if not redeemed, the
Debentures will pay a quarterly coupon at a rate of the three-month
bankers' acceptance plus 1.18%, beginning October 3, 2024.
On or after July 3, 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, 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.
About Scotiabank
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 99,000 employees and
assets of over $1 trillion (as at
April 30, 2019), Scotiabank trades on
the Toronto Stock Exchange (TSX: BNS) and New York Stock Exchange
(NYSE: BNS). For more information, please visit www.scotiabank.com
and follow us on Twitter @ScotiabankViews.
SOURCE Scotiabank