{"id":41099,"date":"2020-07-06T19:41:26","date_gmt":"2020-07-07T00:41:26","guid":{"rendered":"http:\/\/prefblog.com\/?p=41099"},"modified":"2020-07-06T19:41:26","modified_gmt":"2020-07-07T00:41:26","slug":"july-6-2020","status":"publish","type":"post","link":"https:\/\/prefblog.com\/?p=41099","title":{"rendered":"July 6, 2020"},"content":{"rendered":"<p>I missed this earlier, but Scotiabank <a href=\"https:\/\/www.scotiabank.com\/ca\/en\/about\/investors-shareholders\/regulatory-disclosures\/additional-disclosures.html\">issued<\/a> US$1,250,000,000 of 4.900% Fixed Rate Resetting Perpetual Subordinated Additional Tier 1 Capital Notes (Non-Viability Contingent Capital (NVCC)) closing on 2020-6-4:<\/p>\n<blockquote><p>The US$1,250,000,000 aggregate principal amount of 4.900% Fixed Rate Resetting Perpetual Subordinated Additional Tier 1 Capital Notes (Non-Viability Contingent Capital (NVCC)) (subordinated indebtedness) (the \u201cNotes\u201d) offered by this prospectus supplement (this \u201cProspectus Supplement\u201d) have no scheduled maturity or scheduled redemption date. From and including June 4, 2020 (the \u201cIssue Date\u201d) to, but excluding, June 4, 2025 (such date and each fifth (5th) anniversary date thereafter, a \u201cReset Date\u201d), interest will accrue on the Notes at an initial rate equal to 4.900% per annum. From and including each Reset Date to, but excluding, the next following Reset Date, interest will accrue on the Notes at a rate per annum equal to the sum, as determined by the Calculation Agent (as defined herein), of (i) the then-prevailing U.S. Treasury Rate (as defined herein) on the relevant Reset Rate Determination Date (as defined herein) and (ii) 4.551%. Subject to the cancellation rights described below, The Bank of Nova Scotia (the \u201cBank\u201d) will pay interest on the Notes quarterly in arrears on March 4, June 4, September 4 and December 4 of each year, commencing on September 4, 2020 (each, an \u201cInterest Payment Date\u201d).<\/p><\/blockquote>\n<p>So that&#8217;s pretty close to the initial coupon and spread to five-years as you&#8217;d see on a Canadian dollar preferred shares &#8230; but the bank can deduct the interest from income for tax purposes. Who needs preferred shares?<\/p>\n<table border='1'>\n<tr>\n<td colspan='8'><strong>HIMIPref&trade; Preferred Indices<br \/>These values reflect the December 2008 revision of the HIMIPref&trade; Indices<\/strong><br \/>Values are provisional and are finalized monthly<\/td>\n<\/tr>\n<tr>\n<td>Index<\/td>\n<td>Mean<br \/>Current<br \/>Yield<br \/>(at bid)<\/td>\n<td>Median<br \/>YTW<\/td>\n<td>Median<br \/>Average<br \/>Trading<br \/>Value<\/td>\n<td>Median<br \/>Mod Dur<br \/>(YTW)<\/td>\n<td>Issues<\/td>\n<td>Day&#8217;s Perf.<\/td>\n<td>Index Value<\/td>\n<\/tr>\n<tr>\n<td>Ratchet<\/td>\n<td>0.00 %<\/td>\n<td>0.00 %<\/td>\n<td>0<\/td>\n<td>0.00<\/td>\n<td>0<\/td>\n<td>1.6772 %<\/td>\n<td>1,456.3<\/td>\n<\/tr>\n<tr>\n<td>FixedFloater<\/td>\n<td>0.00 %<\/td>\n<td>0.00 %<\/td>\n<td>0<\/td>\n<td>0.00<\/td>\n<td>0<\/td>\n<td>1.6772 %<\/td>\n<td>2,672.2<\/td>\n<\/tr>\n<tr>\n<td>Floater<\/td>\n<td>5.73 %<\/td>\n<td>5.78 %<\/td>\n<td>74,899<\/td>\n<td>14.26<\/td>\n<td>3<\/td>\n<td>1.6772 %<\/td>\n<td>1,540.0<\/td>\n<\/tr>\n<tr>\n<td>OpRet<\/td>\n<td>0.00 %<\/td>\n<td>0.00 %<\/td>\n<td>0<\/td>\n<td>0.00<\/td>\n<td>0<\/td>\n<td>-0.0687 %<\/td>\n<td>3,452.0<\/td>\n<\/tr>\n<tr>\n<td>SplitShare<\/td>\n<td>4.87 %<\/td>\n<td>5.02 %<\/td>\n<td>66,079<\/td>\n<td>3.79<\/td>\n<td>7<\/td>\n<td>-0.0687 %<\/td>\n<td>4,122.4<\/td>\n<\/tr>\n<tr>\n<td>Interest-Bearing<\/td>\n<td>0.00 %<\/td>\n<td>0.00 %<\/td>\n<td>0<\/td>\n<td>0.00<\/td>\n<td>0<\/td>\n<td>-0.0687 %<\/td>\n<td>3,216.4<\/td>\n<\/tr>\n<tr>\n<td>Perpetual-Premium<\/td>\n<td>0.00 %<\/td>\n<td>0.00 %<\/td>\n<td>0<\/td>\n<td>0.00<\/td>\n<td>1<\/td>\n<td>0.4010 %<\/td>\n<td>3,025.0<\/td>\n<\/tr>\n<tr>\n<td>Perpetual-Discount<\/td>\n<td>5.60 %<\/td>\n<td>5.78 %<\/td>\n<td>80,247<\/td>\n<td>14.23<\/td>\n<td>35<\/td>\n<td>0.4010 %<\/td>\n<td>3,244.7<\/td>\n<\/tr>\n<tr>\n<td>FixedReset Disc<\/td>\n<td>6.11 %<\/td>\n<td>5.08 %<\/td>\n<td>143,175<\/td>\n<td>15.07<\/td>\n<td>75<\/td>\n<td>0.1551 %<\/td>\n<td>1,844.6<\/td>\n<\/tr>\n<tr>\n<td>Deemed-Retractible<\/td>\n<td>5.33 %<\/td>\n<td>5.61 %<\/td>\n<td>87,337<\/td>\n<td>14.42<\/td>\n<td>27<\/td>\n<td>0.0016 %<\/td>\n<td>3,212.1<\/td>\n<\/tr>\n<tr>\n<td>FloatingReset<\/td>\n<td>2.47 %<\/td>\n<td>3.27 %<\/td>\n<td>33,861<\/td>\n<td>1.55<\/td>\n<td>4<\/td>\n<td>0.0968 %<\/td>\n<td>1,717.4<\/td>\n<\/tr>\n<tr>\n<td>FixedReset Prem<\/td>\n<td>0.00 %<\/td>\n<td>0.00 %<\/td>\n<td>0<\/td>\n<td>0.00<\/td>\n<td>3<\/td>\n<td>0.1551 %<\/td>\n<td>2,551.0<\/td>\n<\/tr>\n<tr>\n<td>FixedReset Bank Non<\/td>\n<td>1.98 %<\/td>\n<td>3.16 %<\/td>\n<td>119,921<\/td>\n<td>1.54<\/td>\n<td>2<\/td>\n<td>0.0183 %<\/td>\n<td>2,786.1<\/td>\n<\/tr>\n<tr>\n<td>FixedReset Ins Non<\/td>\n<td>6.46 %<\/td>\n<td>5.18 %<\/td>\n<td>107,577<\/td>\n<td>14.84<\/td>\n<td>22<\/td>\n<td>0.3221 %<\/td>\n<td>1,843.9<\/td>\n<\/tr>\n<\/table>\n<table border='1'>\n<tr>\n<td colspan='4'><strong>Performance Highlights<\/strong><\/td>\n<\/tr>\n<tr>\n<td>Issue<\/td>\n<td>Index<\/td>\n<td>Change<\/td>\n<td>Notes<\/td>\n<\/tr>\n<tr>\n<td>CCS.PR.C<\/td>\n<td>Deemed-Retractible<\/td>\n<td>-6.67 %<\/td>\n<td>YTW SCENARIO<br \/>\nMaturity Type   : Limit Maturity<br \/>\nMaturity Date\t: 2050-07-06<br \/>\nMaturity Price  : 21.00<br \/>\nEvaluated at bid price : 21.00<br \/>\nBid-YTW : 6.00 %<\/td>\n<\/tr>\n<tr>\n<td>TD.PF.E<\/td>\n<td>FixedReset Disc<\/td>\n<td>-2.60 %<\/td>\n<td>YTW SCENARIO<br \/>\nMaturity Type   : Limit Maturity<br \/>\nMaturity Date\t: 2050-07-06<br \/>\nMaturity Price  : 16.51<br \/>\nEvaluated at bid price : 16.51<br \/>\nBid-YTW : 5.01 %<\/td>\n<\/tr>\n<tr>\n<td>NA.PR.C<\/td>\n<td>FixedReset Disc<\/td>\n<td>-1.42 %<\/td>\n<td>YTW SCENARIO<br \/>\nMaturity Type   : Limit Maturity<br \/>\nMaturity Date\t: 2050-07-06<br \/>\nMaturity Price  : 19.45<br \/>\nEvaluated at bid price : 19.45<br \/>\nBid-YTW : 4.98 %<\/td>\n<\/tr>\n<tr>\n<td>NA.PR.A<\/td>\n<td>FixedReset Disc<\/td>\n<td>-1.40 %<\/td>\n<td>YTW SCENARIO<br \/>\nMaturity Type   : Limit Maturity<br \/>\nMaturity Date\t: 2050-07-06<br \/>\nMaturity Price  : 23.49<br \/>\nEvaluated at bid price : 24.00<br \/>\nBid-YTW : 5.23 %<\/td>\n<\/tr>\n<tr>\n<td>TD.PF.J<\/td>\n<td>FixedReset Disc<\/td>\n<td>-1.28 %<\/td>\n<td>YTW SCENARIO<br \/>\nMaturity Type   : Limit Maturity<br \/>\nMaturity Date\t: 2050-07-06<br \/>\nMaturity Price  : 17.70<br \/>\nEvaluated at bid price : 17.70<br \/>\nBid-YTW : 4.79 %<\/td>\n<\/tr>\n<tr>\n<td>NA.PR.S<\/td>\n<td>FixedReset Disc<\/td>\n<td>-1.23 %<\/td>\n<td>YTW SCENARIO<br \/>\nMaturity Type   : Limit Maturity<br \/>\nMaturity Date\t: 2050-07-06<br \/>\nMaturity Price  : 15.30<br \/>\nEvaluated at bid price : 15.30<br \/>\nBid-YTW : 4.95 %<\/td>\n<\/tr>\n<tr>\n<td>NA.PR.E<\/td>\n<td>FixedReset Disc<\/td>\n<td>-1.20 %<\/td>\n<td>YTW SCENARIO<br \/>\nMaturity Type   : Limit Maturity<br \/>\nMaturity Date\t: 2050-07-06<br \/>\nMaturity Price  : 16.50<br \/>\nEvaluated at bid price : 16.50<br \/>\nBid-YTW : 4.84 %<\/td>\n<\/tr>\n<tr>\n<td>BMO.PR.F<\/td>\n<td>FixedReset Disc<\/td>\n<td>-1.19 %<\/td>\n<td>YTW SCENARIO<br \/>\nMaturity Type   : Limit Maturity<br \/>\nMaturity Date\t: 2050-07-06<br \/>\nMaturity Price  : 20.75<br \/>\nEvaluated at bid price : 20.75<br \/>\nBid-YTW : 5.07 %<\/td>\n<\/tr>\n<tr>\n<td>GWO.PR.N<\/td>\n<td>FixedReset Ins Non<\/td>\n<td>-1.00 %<\/td>\n<td>YTW SCENARIO<br \/>\nMaturity Type   : Limit Maturity<br \/>\nMaturity Date\t: 2050-07-06<br \/>\nMaturity Price  : 8.88<br \/>\nEvaluated at bid price : 8.88<br \/>\nBid-YTW : 4.78 %<\/td>\n<\/tr>\n<tr>\n<td>IAF.PR.G<\/td>\n<td>FixedReset Ins Non<\/td>\n<td>1.01 %<\/td>\n<td>YTW SCENARIO<br \/>\nMaturity Type   : Limit Maturity<br \/>\nMaturity Date\t: 2050-07-06<br \/>\nMaturity Price  : 16.01<br \/>\nEvaluated at bid price : 16.01<br \/>\nBid-YTW : 5.16 %<\/td>\n<\/tr>\n<tr>\n<td>TRP.PR.G<\/td>\n<td>FixedReset Disc<\/td>\n<td>1.06 %<\/td>\n<td>YTW SCENARIO<br \/>\nMaturity Type   : Limit Maturity<br \/>\nMaturity Date\t: 2050-07-06<br \/>\nMaturity Price  : 14.30<br \/>\nEvaluated at bid price : 14.30<br \/>\nBid-YTW : 5.92 %<\/td>\n<\/tr>\n<tr>\n<td>GWO.PR.H<\/td>\n<td>Deemed-Retractible<\/td>\n<td>1.07 %<\/td>\n<td>YTW SCENARIO<br \/>\nMaturity Type   : Limit Maturity<br \/>\nMaturity Date\t: 2050-07-06<br \/>\nMaturity Price  : 21.40<br \/>\nEvaluated at bid price : 21.67<br \/>\nBid-YTW : 5.62 %<\/td>\n<\/tr>\n<tr>\n<td>SLF.PR.G<\/td>\n<td>FixedReset Ins Non<\/td>\n<td>1.12 %<\/td>\n<td>YTW SCENARIO<br \/>\nMaturity Type   : Limit Maturity<br \/>\nMaturity Date\t: 2050-07-06<br \/>\nMaturity Price  : 9.00<br \/>\nEvaluated at bid price : 9.00<br \/>\nBid-YTW : 4.98 %<\/td>\n<\/tr>\n<tr>\n<td>MFC.PR.G<\/td>\n<td>FixedReset Ins Non<\/td>\n<td>1.14 %<\/td>\n<td>YTW SCENARIO<br \/>\nMaturity Type   : Limit Maturity<br \/>\nMaturity Date\t: 2050-07-06<br \/>\nMaturity Price  : 15.93<br \/>\nEvaluated at bid price : 15.93<br \/>\nBid-YTW : 5.26 %<\/td>\n<\/tr>\n<tr>\n<td>BAM.PF.B<\/td>\n<td>FixedReset Disc<\/td>\n<td>1.16 %<\/td>\n<td>YTW SCENARIO<br \/>\nMaturity Type   : Limit Maturity<br \/>\nMaturity Date\t: 2050-07-06<br \/>\nMaturity Price  : 13.92<br \/>\nEvaluated at bid price : 13.92<br \/>\nBid-YTW : 6.06 %<\/td>\n<\/tr>\n<tr>\n<td>BAM.PF.F<\/td>\n<td>FixedReset Disc<\/td>\n<td>1.20 %<\/td>\n<td>YTW SCENARIO<br \/>\nMaturity Type   : Limit Maturity<br \/>\nMaturity Date\t: 2050-07-06<br \/>\nMaturity Price  : 14.38<br \/>\nEvaluated at bid price : 14.38<br \/>\nBid-YTW : 6.02 %<\/td>\n<\/tr>\n<tr>\n<td>GWO.PR.S<\/td>\n<td>Deemed-Retractible<\/td>\n<td>1.21 %<\/td>\n<td>YTW SCENARIO<br \/>\nMaturity Type   : Limit Maturity<br \/>\nMaturity Date\t: 2050-07-06<br \/>\nMaturity Price  : 23.12<br \/>\nEvaluated at bid price : 23.38<br \/>\nBid-YTW : 5.64 %<\/td>\n<\/tr>\n<tr>\n<td>SLF.PR.J<\/td>\n<td>FloatingReset<\/td>\n<td>1.29 %<\/td>\n<td>YTW SCENARIO<br \/>\nMaturity Type   : Limit Maturity<br \/>\nMaturity Date\t: 2050-07-06<br \/>\nMaturity Price  : 8.63<br \/>\nEvaluated at bid price : 8.63<br \/>\nBid-YTW : 4.69 %<\/td>\n<\/tr>\n<tr>\n<td>BMO.PR.C<\/td>\n<td>FixedReset Disc<\/td>\n<td>1.32 %<\/td>\n<td>YTW SCENARIO<br \/>\nMaturity Type   : Limit Maturity<br \/>\nMaturity Date\t: 2050-07-06<br \/>\nMaturity Price  : 19.25<br \/>\nEvaluated at bid price : 19.25<br \/>\nBid-YTW : 4.98 %<\/td>\n<\/tr>\n<tr>\n<td>BMO.PR.B<\/td>\n<td>FixedReset Disc<\/td>\n<td>1.32 %<\/td>\n<td>YTW SCENARIO<br \/>\nMaturity Type   : Limit Maturity<br \/>\nMaturity Date\t: 2050-07-06<br \/>\nMaturity Price  : 22.61<br \/>\nEvaluated at bid price : 23.00<br \/>\nBid-YTW : 4.90 %<\/td>\n<\/tr>\n<tr>\n<td>BAM.PF.I<\/td>\n<td>FixedReset Disc<\/td>\n<td>1.34 %<\/td>\n<td>YTW SCENARIO<br \/>\nMaturity Type   : Limit Maturity<br \/>\nMaturity Date\t: 2050-07-06<br \/>\nMaturity Price  : 23.14<br \/>\nEvaluated at bid price : 23.52<br \/>\nBid-YTW : 5.12 %<\/td>\n<\/tr>\n<tr>\n<td>CM.PR.Q<\/td>\n<td>FixedReset Disc<\/td>\n<td>1.48 %<\/td>\n<td>YTW SCENARIO<br \/>\nMaturity Type   : Limit Maturity<br \/>\nMaturity Date\t: 2050-07-06<br \/>\nMaturity Price  : 15.12<br \/>\nEvaluated at bid price : 15.12<br \/>\nBid-YTW : 5.24 %<\/td>\n<\/tr>\n<tr>\n<td>TRP.PR.D<\/td>\n<td>FixedReset Disc<\/td>\n<td>1.57 %<\/td>\n<td>YTW SCENARIO<br \/>\nMaturity Type   : Limit Maturity<br \/>\nMaturity Date\t: 2050-07-06<br \/>\nMaturity Price  : 12.95<br \/>\nEvaluated at bid price : 12.95<br \/>\nBid-YTW : 5.82 %<\/td>\n<\/tr>\n<tr>\n<td>CU.PR.G<\/td>\n<td>Perpetual-Discount<\/td>\n<td>1.59 %<\/td>\n<td>YTW SCENARIO<br \/>\nMaturity Type   : Limit Maturity<br \/>\nMaturity Date\t: 2050-07-06<br \/>\nMaturity Price  : 21.74<br \/>\nEvaluated at bid price : 21.74<br \/>\nBid-YTW : 5.24 %<\/td>\n<\/tr>\n<tr>\n<td>IFC.PR.I<\/td>\n<td>Perpetual-Discount<\/td>\n<td>1.68 %<\/td>\n<td>YTW SCENARIO<br \/>\nMaturity Type   : Limit Maturity<br \/>\nMaturity Date\t: 2050-07-06<br \/>\nMaturity Price  : 23.80<br \/>\nEvaluated at bid price : 24.15<br \/>\nBid-YTW : 5.62 %<\/td>\n<\/tr>\n<tr>\n<td>MFC.PR.I<\/td>\n<td>FixedReset Ins Non<\/td>\n<td>1.86 %<\/td>\n<td>YTW SCENARIO<br \/>\nMaturity Type   : Limit Maturity<br \/>\nMaturity Date\t: 2050-07-06<br \/>\nMaturity Price  : 16.40<br \/>\nEvaluated at bid price : 16.40<br \/>\nBid-YTW : 5.19 %<\/td>\n<\/tr>\n<tr>\n<td>TRP.PR.E<\/td>\n<td>FixedReset Disc<\/td>\n<td>1.91 %<\/td>\n<td>YTW SCENARIO<br \/>\nMaturity Type   : Limit Maturity<br \/>\nMaturity Date\t: 2050-07-06<br \/>\nMaturity Price  : 12.80<br \/>\nEvaluated at bid price : 12.80<br \/>\nBid-YTW : 5.84 %<\/td>\n<\/tr>\n<tr>\n<td>BAM.PR.R<\/td>\n<td>FixedReset Disc<\/td>\n<td>2.31 %<\/td>\n<td>YTW SCENARIO<br \/>\nMaturity Type   : Limit Maturity<br \/>\nMaturity Date\t: 2050-07-06<br \/>\nMaturity Price  : 11.50<br \/>\nEvaluated at bid price : 11.50<br \/>\nBid-YTW : 5.89 %<\/td>\n<\/tr>\n<tr>\n<td>MFC.PR.N<\/td>\n<td>FixedReset Ins Non<\/td>\n<td>2.32 %<\/td>\n<td>YTW SCENARIO<br \/>\nMaturity Type   : Limit Maturity<br \/>\nMaturity Date\t: 2050-07-06<br \/>\nMaturity Price  : 14.58<br \/>\nEvaluated at bid price : 14.58<br \/>\nBid-YTW : 5.07 %<\/td>\n<\/tr>\n<tr>\n<td>CU.PR.H<\/td>\n<td>Perpetual-Discount<\/td>\n<td>2.33 %<\/td>\n<td>YTW SCENARIO<br \/>\nMaturity Type   : Limit Maturity<br \/>\nMaturity Date\t: 2050-07-06<br \/>\nMaturity Price  : 24.26<br \/>\nEvaluated at bid price : 24.56<br \/>\nBid-YTW : 5.40 %<\/td>\n<\/tr>\n<tr>\n<td>BAM.PF.E<\/td>\n<td>FixedReset Disc<\/td>\n<td>2.34 %<\/td>\n<td>YTW SCENARIO<br \/>\nMaturity Type   : Limit Maturity<br \/>\nMaturity Date\t: 2050-07-06<br \/>\nMaturity Price  : 13.11<br \/>\nEvaluated at bid price : 13.11<br \/>\nBid-YTW : 5.98 %<\/td>\n<\/tr>\n<tr>\n<td>CU.PR.E<\/td>\n<td>Perpetual-Discount<\/td>\n<td>2.61 %<\/td>\n<td>YTW SCENARIO<br \/>\nMaturity Type   : Limit Maturity<br \/>\nMaturity Date\t: 2050-07-06<br \/>\nMaturity Price  : 22.82<br \/>\nEvaluated at bid price : 23.19<br \/>\nBid-YTW : 5.33 %<\/td>\n<\/tr>\n<tr>\n<td>BAM.PR.K<\/td>\n<td>Floater<\/td>\n<td>4.63 %<\/td>\n<td>YTW SCENARIO<br \/>\nMaturity Type   : Limit Maturity<br \/>\nMaturity Date\t: 2050-07-06<br \/>\nMaturity Price  : 7.46<br \/>\nEvaluated at bid price : 7.46<br \/>\nBid-YTW : 5.79 %<\/td>\n<\/tr>\n<\/table>\n<table border='1'>\n<tr>\n<td colspan='4'><strong>Volume Highlights<\/strong><\/td>\n<\/tr>\n<tr>\n<td>Issue<\/td>\n<td>Index<\/td>\n<td>Shares<br \/>Traded<\/td>\n<td>Notes<\/td>\n<\/tr>\n<tr>\n<td>TD.PF.M<\/td>\n<td>FixedReset Disc<\/td>\n<td>90,600<\/td>\n<td>YTW SCENARIO<br \/>\nMaturity Type   : Limit Maturity<br \/>\nMaturity Date\t: 2050-07-06<br \/>\nMaturity Price  : 21.69<br \/>\nEvaluated at bid price : 22.01<br \/>\nBid-YTW : 4.83 %<\/td>\n<\/tr>\n<tr>\n<td>TD.PF.A<\/td>\n<td>FixedReset Disc<\/td>\n<td>77,990<\/td>\n<td>YTW SCENARIO<br \/>\nMaturity Type   : Limit Maturity<br \/>\nMaturity Date\t: 2050-07-06<br \/>\nMaturity Price  : 15.30<br \/>\nEvaluated at bid price : 15.30<br \/>\nBid-YTW : 4.76 %<\/td>\n<\/tr>\n<tr>\n<td>SLF.PR.B<\/td>\n<td>Deemed-Retractible<\/td>\n<td>53,300<\/td>\n<td>YTW SCENARIO<br \/>\nMaturity Type   : Limit Maturity<br \/>\nMaturity Date\t: 2050-07-06<br \/>\nMaturity Price  : 22.69<br \/>\nEvaluated at bid price : 22.93<br \/>\nBid-YTW : 5.26 %<\/td>\n<\/tr>\n<tr>\n<td>BAM.PF.I<\/td>\n<td>FixedReset Disc<\/td>\n<td>41,550<\/td>\n<td>YTW SCENARIO<br \/>\nMaturity Type   : Limit Maturity<br \/>\nMaturity Date\t: 2050-07-06<br \/>\nMaturity Price  : 23.14<br \/>\nEvaluated at bid price : 23.52<br \/>\nBid-YTW : 5.12 %<\/td>\n<\/tr>\n<tr>\n<td>BAM.PF.F<\/td>\n<td>FixedReset Disc<\/td>\n<td>30,050<\/td>\n<td>YTW SCENARIO<br \/>\nMaturity Type   : Limit Maturity<br \/>\nMaturity Date\t: 2050-07-06<br \/>\nMaturity Price  : 14.38<br \/>\nEvaluated at bid price : 14.38<br \/>\nBid-YTW : 6.02 %<\/td>\n<\/tr>\n<tr>\n<td>BAM.PR.K<\/td>\n<td>Floater<\/td>\n<td>29,405<\/td>\n<td>YTW SCENARIO<br \/>\nMaturity Type   : Limit Maturity<br \/>\nMaturity Date\t: 2050-07-06<br \/>\nMaturity Price  : 7.46<br \/>\nEvaluated at bid price : 7.46<br \/>\nBid-YTW : 5.79 %<\/td>\n<\/tr>\n<tr>\n<td colspan='4'>There were 9 other index-included issues trading in excess of 10,000 shares.<\/td>\n<\/tr>\n<\/table>\n<table border='1'>\n<tr>\n<td colspan='3'><strong>Wide Spread Highlights<\/strong><\/td>\n<\/tr>\n<tr>\n<td>Issue<\/td>\n<td>Index<\/td>\n<td>Quote Data and Yield Notes<\/td>\n<\/tr>\n<tr>\n<td>MFC.PR.M<\/td>\n<td>FixedReset Ins Non<\/td>\n<td>Quote: 14.40 &#8211; 17.00<br \/>\nSpot Rate  :  2.6000<br \/>\nAverage  :  1.7273<\/p>\n<p>YTW SCENARIO<br \/>\nMaturity Type   : Limit Maturity<br \/>\nMaturity Date\t: 2050-07-06<br \/>\nMaturity Price  : 14.40<br \/>\nEvaluated at bid price : 14.40<br \/>\nBid-YTW : 5.26 %<\/td>\n<\/tr>\n<tr>\n<td>CCS.PR.C<\/td>\n<td>Deemed-Retractible<\/td>\n<td>Quote: 21.00 &#8211; 23.00<br \/>\nSpot Rate  :  2.0000<br \/>\nAverage  :  1.3322<\/p>\n<p>YTW SCENARIO<br \/>\nMaturity Type   : Limit Maturity<br \/>\nMaturity Date\t: 2050-07-06<br \/>\nMaturity Price  : 21.00<br \/>\nEvaluated at bid price : 21.00<br \/>\nBid-YTW : 6.00 %<\/td>\n<\/tr>\n<tr>\n<td>BAM.PF.B<\/td>\n<td>FixedReset Disc<\/td>\n<td>Quote: 13.92 &#8211; 14.85<br \/>\nSpot Rate  :  0.9300<br \/>\nAverage  :  0.6502<\/p>\n<p>YTW SCENARIO<br \/>\nMaturity Type   : Limit Maturity<br \/>\nMaturity Date\t: 2050-07-06<br \/>\nMaturity Price  : 13.92<br \/>\nEvaluated at bid price : 13.92<br \/>\nBid-YTW : 6.06 %<\/td>\n<\/tr>\n<tr>\n<td>PWF.PR.P<\/td>\n<td>FixedReset Disc<\/td>\n<td>Quote: 9.27 &#8211; 10.19<br \/>\nSpot Rate  :  0.9200<br \/>\nAverage  :  0.7010<\/p>\n<p>YTW SCENARIO<br \/>\nMaturity Type   : Limit Maturity<br \/>\nMaturity Date\t: 2050-07-06<br \/>\nMaturity Price  : 9.27<br \/>\nEvaluated at bid price : 9.27<br \/>\nBid-YTW : 5.45 %<\/td>\n<\/tr>\n<tr>\n<td>MFC.PR.H<\/td>\n<td>FixedReset Ins Non<\/td>\n<td>Quote: 17.10 &#8211; 18.02<br \/>\nSpot Rate  :  0.9200<br \/>\nAverage  :  0.7015<\/p>\n<p>YTW SCENARIO<br \/>\nMaturity Type   : Limit Maturity<br \/>\nMaturity Date\t: 2050-07-06<br \/>\nMaturity Price  : 17.10<br \/>\nEvaluated at bid price : 17.10<br \/>\nBid-YTW : 5.28 %<\/td>\n<\/tr>\n<tr>\n<td>MFC.PR.J<\/td>\n<td>FixedReset Ins Non<\/td>\n<td>Quote: 15.83 &#8211; 16.50<br \/>\nSpot Rate  :  0.6700<br \/>\nAverage  :  0.4784<\/p>\n<p>YTW SCENARIO<br \/>\nMaturity Type   : Limit Maturity<br \/>\nMaturity Date\t: 2050-07-06<br \/>\nMaturity Price  : 15.83<br \/>\nEvaluated at bid price : 15.83<br \/>\nBid-YTW : 5.18 %<\/td>\n<\/tr>\n<\/table>\n","protected":false},"excerpt":{"rendered":"<p>I missed this earlier, but Scotiabank issued US$1,250,000,000 of 4.900% Fixed Rate Resetting Perpetual Subordinated Additional Tier 1 Capital Notes (Non-Viability Contingent Capital (NVCC)) closing on 2020-6-4: The US$1,250,000,000 aggregate principal amount of 4.900% Fixed &hellip;<\/p>\n","protected":false},"author":1,"featured_media":0,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[15],"tags":[],"class_list":["post-41099","post","type-post","status-publish","format-standard","hentry","category-market-action"],"_links":{"self":[{"href":"https:\/\/prefblog.com\/index.php?rest_route=\/wp\/v2\/posts\/41099","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=41099"}],"version-history":[{"count":0,"href":"https:\/\/prefblog.com\/index.php?rest_route=\/wp\/v2\/posts\/41099\/revisions"}],"wp:attachment":[{"href":"https:\/\/prefblog.com\/index.php?rest_route=%2Fwp%2Fv2%2Fmedia&parent=41099"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/prefblog.com\/index.php?rest_route=%2Fwp%2Fv2%2Fcategories&post=41099"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/prefblog.com\/index.php?rest_route=%2Fwp%2Fv2%2Ftags&post=41099"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}