{"id":32103,"date":"2016-01-23T01:00:41","date_gmt":"2016-01-23T06:00:41","guid":{"rendered":"http:\/\/prefblog.com\/?p=32103"},"modified":"2016-01-23T01:00:41","modified_gmt":"2016-01-23T06:00:41","slug":"bns-pr-z-bns-pr-f-32-conversion-to-floatingreset","status":"publish","type":"post","link":"https:\/\/prefblog.com\/?p=32103","title":{"rendered":"BNS.PR.Z \/ BNS.PR.F: 32% Conversion to FloatingReset"},"content":{"rendered":"<p>The Bank of Nova Scotia <a href=\"http:\/\/scotiabank.mwnewsroom.com\/press-releases\/scotiabank-reports-results-of-conversion-privilege-tsx-bns--11g079805-001\">has announced<\/a>:<\/p>\n<blockquote><p>that 5,184,345 of the 16,360,000 Non-cumulative 5-Year Rate Reset Preferred Shares Series 32 of Scotiabank (the &#8220;Preferred Shares Series 32&#8221;) have been elected for conversion on February 2, 2016, on a one-for-one basis, into Non-cumulative Floating Rate Preferred Shares Series 33 of Scotiabank (the &#8220;Preferred Shares Series 33&#8221;). Consequently, on February 2, 2016, Scotiabank will have 11,175,655 Preferred Shares Series 32 and 5,184,345 Preferred Shares Series 33 issued and outstanding. The Preferred Shares Series 32 and Preferred Shares Series 33 will be listed on the Toronto Stock Exchange under the symbols BNS.PR.Z and BNS.PR.F, respectively.<\/p><\/blockquote>\n<p>Assiduous Readers will remember that BNS.PR.Z will <a href=\"http:\/\/prefblog.com\/?p=31792\">reset to 2.063%<\/a>, while the FloatingReset issue, BNS.PR.F, will pay 3-Month T-Bills + 134bp, reset quarterly. I <a href=\"http:\/\/prefblog.com\/?p=31963\">recommended against conversion<\/a>.<\/p>\n","protected":false},"excerpt":{"rendered":"<p>The Bank of Nova Scotia has announced: that 5,184,345 of the 16,360,000 Non-cumulative 5-Year Rate Reset Preferred Shares Series 32 of Scotiabank (the &#8220;Preferred Shares Series 32&#8221;) have been elected for conversion on February 2, &hellip;<\/p>\n","protected":false},"author":1,"featured_media":0,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[13],"tags":[],"class_list":["post-32103","post","type-post","status-publish","format-standard","hentry","category-issue-comments"],"_links":{"self":[{"href":"https:\/\/prefblog.com\/index.php?rest_route=\/wp\/v2\/posts\/32103","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/prefblog.com\/index.php?rest_route=\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/prefblog.com\/index.php?rest_route=\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/prefblog.com\/index.php?rest_route=\/wp\/v2\/users\/1"}],"replies":[{"embeddable":true,"href":"https:\/\/prefblog.com\/index.php?rest_route=%2Fwp%2Fv2%2Fcomments&post=32103"}],"version-history":[{"count":0,"href":"https:\/\/prefblog.com\/index.php?rest_route=\/wp\/v2\/posts\/32103\/revisions"}],"wp:attachment":[{"href":"https:\/\/prefblog.com\/index.php?rest_route=%2Fwp%2Fv2%2Fmedia&parent=32103"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/prefblog.com\/index.php?rest_route=%2Fwp%2Fv2%2Fcategories&post=32103"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/prefblog.com\/index.php?rest_route=%2Fwp%2Fv2%2Ftags&post=32103"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}