Scotiabank completes of NVCC preferred share offering

On September 16, 2016, The Bank of Nova Scotia (Scotiabank) completed the domestic public offering of non-cumulative 5-year rate reset preferred shares Series 38 (Non-Viability Contingent Capital (NVCC)).

Scotiabank sold 20 million Series 38 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 January 26, 2022 yielding 4.85% per annum, as and when declared by the Board of Directors of Scotiabank. The gross proceeds of the offering were C$500 million.

The offering was made through a syndicate of underwriters led by Scotia Capital Inc.

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.