/Not for dissemination or distribution in the United States/
TORONTO, Oct. 20, 2020 /CNW/ - Scotiabank (TSX: BNS)
(NYSE: BNS) today announced its intention to redeem all outstanding
CDN $750 million 3.367% Debentures
(Non-Viability Contingent Capital (NVCC)) due December 8, 2025 at 100% of their principal
amount plus accrued interest to the redemption date. The redemption
will occur on December 8,
2020. Formal notice will be delivered to the debenture holders
in accordance with the terms and conditions set forth in the
related trust indenture.
The redemption has been approved by the Office of the
Superintendent of Financial Institutions and will be financed out
of the general funds of Scotiabank. This redemption is part of the
Bank's ongoing management of its Tier 2 capital.
About Scotiabank
Scotiabank is a leading bank in the Americas. Guided by our
purpose: "for every future", we help our customers, 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 a team
of over 90,000 employees and assets of approximately $1.2 trillion (as at July
31, 2020), Scotiabank trades on the Toronto Stock Exchange
(TSX: BNS) and New York Stock Exchange (NYSE: BNS). For more
information, please visit our website and follow us on Twitter
@ScotiabankViews.
SOURCE Scotiabank