By Kiku Steinfeld
Chicago, June 24 – Bank of Nova Scotia priced $10.75 million of callable fixed-to-collared floating rate notes linked to the 30-year U.S. Dollar ICE swap rate and the five-year U.S. Dollar ICE swap rate due June 16, 2036, according to a 424B2 filing with the Securities and Exchange Commission.
The notes will be guaranteed by JPMorgan Chase & Co.
The notes are callable at par on any quarterly interest payment date starting June 16, 2022.
Interest will be fixed at 5% per annum, payable quarterly, for the first year.
After that, it will be 5.3 times the 30-year U.S. dollar ICE swap rate minus the five-year U.S. dollar ICE swap rate, capped at 9%. Interest is payable quarterly and resets quarterly and cannot be less than 0%.
The payout at maturity will be par.
Scotia Capital (USA) Inc. LLC and BofA Securities, Inc. are the agents.
| Issuer: | Bank of Nova Scotia
|
| Guarantor: | JPMorgan Chase & Co.
|
| Issue: | Callable fixed-to-collared floating rate notes
|
| Amount: | $10.75 million
|
| Underlying rates: | 30-year U.S. Dollar ICE swap rate and five-year U.S. Dollar ICE swap rate
|
| Maturity: | June 16, 2036
|
| Coupon: | 5% per annum, payable quarterly for first year; after that, 5.3 times the 30-year U.S. Dollar ICE swap rate minus the five-year U.S. Dollar ICE swap rate, cap of 9%; payable quarterly, floor of 0%
|
| Call option: | On any interest payment date starting June 16, 2022
|
| Price: | Par
|
| Payout at maturity: | Par
|
| Pricing date: | June 14
|
| Settlement date: | June 16
|
| Agents: | Scotia Capital (USA) Inc. and BofA Securities, Inc.
|
| Fees: | 2.543%
|
| Cusip: | 064159X92
|
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