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Scotiabank Announces Redemption of US $1,250 million 4.900% Fixed Rate Resetting Perpetual Subordinated Additional Tier 1 Capital Notes
Scotiabank Announces Redemption of US $1,250 million 4.900% Fixed Rate Resetting Perpetual Subord...
About this update from Bank Of Nova Scotia
[{"type":"text","content":"\n\n\n\n Scotiabank Announces Redemption of US $1,250 million 4.900% Fixed Rate Resetting Perpetual Subordinated Additional Tier 1 Capital Notes\n \n\n /* Style Definitions */\nspan.prnews_span\n{\nfont-size:8pt;\nfont-family:\"Arial\";\ncolor:black;\n}\na.prnews_a\n{\ncolor:blue;\n}\nli.prnews_li\n{\nfont-size:8pt;\nfont-family:\"Arial\";\ncolor:black;\n}\np.prnews_p\n{\nfont-size:0.62em;\nfont-family:\"Arial\";\ncolor:black;\nmargin:0in;\n}\n \n\n\n\n\n\n Canada NewsWire\n \n\n\n\n\n\n TORONTO\n \n\n ,\n \n\n May 1, 2025\n \n\n /CNW/ - Scotiabank (TSX: BNS) (NYSE: BNS) today announced its intention to redeem all outstanding US\n \n $1,250 million\n \n 4.900% Fixed Rate Resetting Perpetual Subordinated Additional Tier 1 Capital Notes (Non-Viability Contingent Capital (NVCC)) (the \"Notes\") at 100% of their principal amount plus accrued and unpaid interest to, but excluding, the date fixed for redemption. The redemption of the Notes will occur on\n \n June 4\n \n , 2025. Formal notice will be delivered to the noteholders in accordance with the terms and conditions set forth in the related trust indenture.\n \n\n\n\n\n\n\n\n\n The redemption of the Notes has been approved by the Office of the Superintendent of Financial Institutions and will be financed out of the general funds of Scotiabank. The redemption is part of the Bank's ongoing management of its Tier 1 capital.\n \n\n\n About Scotiabank\n \n\n Scotiabank's vision is to be our clients' most trusted financial partner and deliver sustainable, profitable growth. Guided by our purpose: \"for every future,\" we help our clients, their families and their communities achieve success 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 assets of approximately\n \n $1.4 trillion\n \n (as at\n \n January 31, 2025\n \n ), Scotiabank is one of the largest banks in\n \n North America\n \n by assets, and trades on the Toronto Stock Exchange (TSX: BNS) and New York Stock Exchange (NYSE: BNS). For more information, please visit\n \n www.scotiabank.com\n \n and follow us on X @Scotiabank.\n \n\n\n Forward-looking Statements\n \n\n From time to time, our public communications include oral or written forward-looking statements. Statements of...