/NOTE TO EDITORS: NOT FOR DISSEMINATION OR DISTRIBUTION IN
THE UNITED STATES/
TORONTO, May 29, 2019 /CNW/ - Scotiabank (BNS: TSX, NYSE)
today announced that Scotiabank Tier 1 Trust, a closed-end trust
wholly owned by The Bank of Nova
Scotia, intends to redeem all outstanding 7.802% Scotiabank
Tier 1 Securities – Series 2009-1 due June
30, 2108 (the "Scotia BaTS III Series 2009-1") for 100% of
their principal amount, together with accrued and unpaid interest
to the redemption date. The redemption will occur on June 30, 2019. Formal notice will be delivered to
Scotia BaTS III Series 2009-1 holders in accordance with the terms
of the offering.
Scotia BaTS III Series 2009-1 constitute Additional Tier 1
capital of the Bank. The principal amount of Scotia BaTS III Series
2009-1 is currently $650,000,000. The
redemption of the Scotia BaTS III Series 2009-1 will be financed
out of the general funds of Scotiabank Tier 1 Trust.
About Scotiabank
Scotiabank is Canada's
international bank and a leading financial services provider in the
Americas. We are dedicated to helping our more than 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