/NOTE TO EDITORS: NOT FOR DISSEMINATION OR DISTRIBUTION IN THE UNITED
TORONTO, Sept. 26, 2012 /CNW/ - Scotiabank (BNS: TSX, NYSE) today
announced that Scotiabank Subordinated Notes Trust, a closed-end trust
wholly owned by the Bank, intends to redeem all outstanding 5.25 %
Trust Subordinated Notes - Series A due November 1, 2017 (the
"Scotiabank TSNs") for 100% of their principal amount plus accrued
interest to the redemption date. The redemption will occur on November
1, 2012. Formal notice will be delivered to Scotiabank TSNs holders in
accordance with the terms of the offering.
Scotiabank TSNs constitute Tier 2B capital of the Bank. The principal
amount of Scotiabank TSNs is currently $1,000,000,000. The redemption
of the Scotia TSNs will be financed out of the general funds of
Scotiabank Subordinated Notes Trust.
Scotiabank is one of North America's premier financial institutions and
Canada's most international bank. With more than 81,000 employees,
Scotiabank and its affiliates serve some 19 million customers in more
than 55 countries around the world. Scotiabank offers a broad range of
products and services including personal, commercial, corporate and
investment banking. With assets of $670 billion (as at July 31, 2012),
Scotiabank trades on the Toronto (BNS) and New York Exchanges (BNS).
For more information please visit www.scotiabank.com.
For further information:
please contact Jake Lawrence, Managing Director, Group Treasury, at (416) 866-5712, or email@example.com.