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Scotiabank Announces Redemptions of CDN $1,750 million 3.89% Subordinated Debentures due 2029 and CDN $300 million Non-cumulative 5-Year Rate Reset Preferred Shares Series 40

Newswire.ca - Fri Dec 8, 2023

TORONTO, Dec. 8, 2023 /CNW/ - Scotiabank (TSX: BNS) (NYSE: BNS) today announced its intention to redeem (i) all outstanding CDN $1,750 million 3.89% Subordinated Debentures (Non-Viability Contingent Capital (NVCC)) due January 18, 2029 (the "Debentures") at 100% of their principal amount plus accrued and unpaid interest to but excluding the date fixed for redemption, and (ii) all outstanding Non-cumulative 5-Year Rate Reset Preferred Shares Series 40 (Non-Viability Contingent Capital (NVCC)) ("Series 40 Shares") at a price equal to $25.00 per share together with dividends declared and unpaid prior to the redemption. The redemptions of the Debentures and Series 40 Shares will occur on January 18, 2024, and January 29, 2024, respectively. Formal notice will be delivered to the debenture holders in accordance with the terms and conditions set forth in the related trust indenture.

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