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Bank of Nova Scotia Halifax | Non-cumulative 5-Year Rate Reset Preferred Shares Series 20 (BNS.PRQ.CA)
Prospectus excerpt: The holders of Non-cumulative 5-Year Rate Reset Preferred Shares Series 20 (the “Preferred Shares Series 20”) of The Bank of Nova Scotia (the “Bank”) will be entitled to receive fixed non-cumulative preferential cash dividends, as and when declared by the board of directors of the Bank (the “Board of Directors”), for the initial period commencing on the closing date and ending on and including October 25, 2013 (the “Initial Fixed Rate Period”), payable quarterly on the third last business day of January, April, July and October in each year, at a rate equal to $0.3125 per share. The initial dividend, if declared, will be payable July 29, 2008 and will be $0.1678 per share, based on the anticipated closing date of June 10, 2008. Full Prospectus PDF », BNS.CA Page »
Series: | 20 | Alternate symbology: | BNS-Q.CA, BNS-PQ.CA, BNSprQ.CA | Redeemable?: | Yes | Call Date: | 4/26/2013 (Now Trading Post Call Date) | Perpetual?: | Yes | Cumulative?: | No | Conversion Ratio: | The holders of Preferred Shares Series 20 will have the right, at their option, to convert their shares into Non-cumulative Floating Rate Preferred Shares Series 21 of the Bank (the “Preferred Shares Series 21”), subject to certain conditions, on October 26, 2013 and on October 26 every five years hereafter. The holders of Preferred Shares Series 21 will be entitled to receive floating rate non-cumulative preferential cash dividends, as and when declared by the Board of Directors, payable quarterly on the third last business day of January, April, July and October in each year (the initial quarterly dividend period and each subsequent quarterly dividend period is referred to as a “Quarterly Floating Rate Period”), in the amount per share determined by multiplying the applicable Floating Quarterly Dividend Rate (as defined herein) by $25.00. The Floating Quarterly Dividend Rate will be equal to the sum of the T-Bill Rate (as defined herein) plus 1.70% (calculated on the basis of the actual number of days elapsed in the applicable Quarterly Floating Rate Period divided by 365) determined on the 30th day prior to the first day of the applicable Quarterly Floating Rate Period. | Shares Offered: | 12000000 | Overallotment: | 2000000 | Liquidation Preference: | $25 | Original Coupon: | 5% for the initial fixed rate period, then for each five-year period after the Initial Fixed Rate Period, the holders of Preferred Shares Series 20 will be entitled to receive fixed non-cumulative preferential cash dividends, as and when declared by the Board of Directors, payable quarterly on the third last business day of January, April, July and October in each year, in the amount per share per annum determined by multiplying the Annual Fixed Dividend Rate applicable to such Subsequent Fixed Rate Period by 5.00. The Annual Fixed Dividend Rate for the ensuing Subsequent Fixed Rate Period will be determined by the Bank on the 30th day prior to the first day of such Subsequent Fixed Rate Period and will be equal to the sum of the Government of Canada Yield (as defined herein) on the date on which the Annual Fixed Dividend Rate is determined plus 1.70%. | Pay Period: | Quarterly | Pay Dates: | 31-Jan, 30-Apr, 31-Jul, 31-Oct | CDx3 Compliance Rating: |
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The Bank of Nova Scotia is a financial services provider providing a range of products and services, including personal, commercial, corporate and investment banking. Co. has four operating segments: Canadian Banking, which provides a suite of financial advice and banking solutions to Retail, Small Business and Commercial Banking customers; International Banking, which is a franchise with Retail, Corporate and Commercial customers; Global Wealth Management, which is focused on delivering wealth management advice and solutions; and Global Banking and Markets, which provides corporate clients with lending and transaction services, investment banking advice and access to capital markets. Preferreds: BNS.PRJ.CA, BNS.PRK.CA, BNS.PRL.CA, BNS.PRM.CA, BNS.PRN.CA, BNS.PRO.CA, BNS.PRP.CA, BNS.PRQ.CA, BNS.PRR.CA, BNS.PRS.CA, BNS.PRT.CA, BNS.PRX.CA, BNS.PRY.CA, BNS.PRZ.CA Open the BNS.CA Information Page »
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