/NOT FOR DISSEMINATION OR DISTRIBUTION IN THE UNITED STATES/
TORONTO, May 24, 2013 /CNW/ - Scotiabank (BNS: TSX, NYSE) today
announced that Scotiabank Capital Trust, an open-end trust, intends to
redeem all issued and outstanding Scotiabank Trust Securities Series
2003-1 (Scotia BaTS II) on June 30, 2013. The redemption price per
share will be equal to $1,000.00 per Scotia BaTS II plus unpaid
indicated distributions to the June 30, 2013 redemption date. Formal
notice will be delivered to the holders of the Scotia BaTS II in
accordance with the terms thereof.
In accordance with the terms of the Declaration of Trust governing
Scotiabank Capital Trust, an amount equal to the redemption proceeds
has been deposited in trust for the holders of Scotia BaTS II, which
deposit constitutes payment and satisfaction by Scotiabank Capital
Trust of the redemption proceeds payable on the Scotia BaTS II. As a
result, the rights of a holder of the Scotia BaTS II are limited to
receiving, on June 30, 2013, the proportion of the amount so deposited
applicable to such holder's Scotia BaTS II, without any interest
The redemption of the Scotia BaTS II will be financed out of the general
funds of Scotiabank Capital Trust.
Scotiabank is a leading multinational financial services provider and
Canada's most international bank. With more than 82,000 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. In December 2012, Scotiabank became the first
Canadian bank to be named Global Bank of the Year and Bank of the Year
in the Americas by The Banker magazine, a Financial Times publication.
With assets of $736 billion (as at January 31, 2013), Scotiabank trades
on the Toronto (BNS) and New York Exchanges (BNS). For more information
please visit www.scotiabank.com.
For further information:
Jake Lawrence, Managing Director, Group Treasury, at (416) 866-5712, or firstname.lastname@example.org.