Scotiabank resets rate on Series 1 limited recourse capital notes to 5.99% from July 27, 2026
BNS•Coupon reset details
- The Bank of Nova Scotia reset the coupon on its CAD 1.25 billion 3.70% Fixed Rate Resetting Limited Recourse Capital Notes, Series 1 to 5.987%.
- The new rate applies from July 27, 2026 to July 27, 2031; calculated as Government of Canada Yield plus 2.761%.
- Quarterly interest payments continue; the first payment under the reset rate is due Oct. 27, 2026.
- The linked Fixed Rate Resetting Perpetual Subordinated Additional Tier 1 Capital Notes reset to the same 5.987% for the same period.
- Issuer call option opens June 27 to July 27, 2031, subject to Canadian regulatory approval.
