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Bank of Nova Scotia Halifax | Non-cumulative 5-Year Rate Reset Preferred Shares Series 28 (BNS.PRX.CA)
Prospectus excerpt: The holders of Non-cumulative 5-Year Rate Reset Preferred Shares Series 28 (the “Preferred Shares Series 28”) 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 (as defined herein) and ending on and including April 25, 2014 (the “Initial Fixed Rate Period”), payable quarterly on the third last business day of January, April, July and October in each year, at an annual rate equal to $1.56250 per share. The initial dividend, if declared, will be payable April 28, 2009 and will be $0.37671 per share, based on the anticipated closing date of January 30, 2009 (the “Closing Date”). Full Prospectus PDF », BNS.CA Page »
Series: | 28 | Alternate symbology: | BNS-X.CA, BNS-PX.CA, BNSprX.CA | Redeemable?: | Yes | Call Date: | 4/26/2014 (Now Trading Post Call Date) | Perpetual?: | Yes | Cumulative?: | No | Conversion Ratio: | The holders of Preferred Shares Series 28 will have the right, at their option, to convert their shares into Non-cumulative Floating Rate Preferred Shares Series 29 of the Bank (the “Preferred Shares Series 29”), subject to certain conditions, on April 26, 2014 and on April 26 every five years thereafter. The holders of Preferred Shares Series 29 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 4.46% (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: | 10000000 | Overallotment: | 1000000 | Liquidation Preference: | $25 | Original Coupon: | 6.25% for the initial fixed rate period, then for each five-year period after the Initial Fixed Rate Period, the holders of Preferred Shares Series 28 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 on the date on which the Annual Fixed Dividend Rate is determined plus 4.46%. | 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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