Scotiabank completes C$350 million NVCC preferred share offering

On December 17, 2015, The Bank of Nova Scotia (Scotiabank) completed the domestic public offering of non-cumulative 5-year rate reset preferred shares Series 34 (Non-Viability Contingent Capital (NVCC)).

Scotiabank sold 14 million Series 34 preferred shares at a price of C$25.00 per share and holders will be entitled to receive a non-cumulative quarterly fixed dividend for the initial period ending April 25, 2021 yielding 5.50% per annum, as and when declared by the Board of Directors of Scotiabank. The gross proceeds of the offering were C$350 million.

The offering was made through a syndicate of underwriters led by Scotia Capital Inc. pursuant to a prospectus supplement dated December 9, 2015 to Scotiabank's June 27, 2014 base shelf prospectus.

Scotiabank is Canada's international bank and a leading financial services provider in North America, Latin America, the Caribbean and Central America, and parts of Asia.

Further information can be found on Scotiabank's website.