The new BNS 5.25% Perp, announced September 25, which immediately caused a repricing in the market, held up well on opening day, closing at $24.81-82 on heavy volume.
The greenshoe option of 1.8-million shares was fully exercised; thus, this issue has a size of 13.8-million shares.
Scotiabank announced the issuing is being called. Details in http://www.marketwired.com/press-release/scotiabank-announces-redemption-of-preferred-shares-series-16-nyse-bns-2182260.htm
Scotiabank (TSX: BNS) (NYSE: BNS) today announced that it intends to exercise its right to redeem all outstanding Non-cumulative Preferred Shares Series 16 of Scotiabank (the “Series 16 Shares”) on January 27, 2017, at a price equal to $25.00 per share, together with all declared and unpaid dividends. Formal notice will be issued to shareholders in accordance with the share conditions.