BNS.PR.X Closes Below Par on Good Volume

Scotia has announced:

that it has completed the domestic offering of 11 million, non-cumulative 5-year rate reset preferred shares Series 28 (the “Preferred Shares Series 28”) at a price of $25.00 per share. The gross proceeds of the offering were $275 million.

The issue is a fixed-reset 6.25%+446, as previously announced. The original size was 10-million shares plus a 2-million greenshoe; bumped to 12+2; and they sold 13. A fine marketting job!

The issue traded 496,219 shares in a range of 24.80-00, closing at 24.90-92. It was one of three issues settling today, the others being TD.PR.G and NA.PR.P.

The issue has been added to the HIMIPref™ Fixed-Reset Sub-Index.

One Response to “BNS.PR.X Closes Below Par on Good Volume”

  1. […] Recent new issue. YTW SCENARIO Maturity Type : Call Maturity Date : 2014-05-25 Maturity Price : 25.00 Evaluated at bid price : 24.91 Bid-YTW : 6.41 % […]

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