The Toronto Stock Exchange reports that Bank of Nova Scotia will list 20 million non-cumulative, five-year, rate-reset, preferred shares, Series 38, at 5:01 p.m. on Sept. 15, 2016. According to the TSX, the Series 38 shares will begin trading on the exchange at the open on Sept. 16, 2016, under the symbol BNS.PR.H and Cusip No. 064151 11 1.

As stated in the bank's Sept. 9, 2016, prospectus supplement, Scotiabank will sell the Series 38 shares in a public offering at $25 per share. It expects to pay quarterly dividends on the shares on the third-last business day of January, April, July and October in each year, at an annual dividend rate of $1.2125 per share. The initial dividend payment of 44.18 cents per share will be payable on Jan. 27, 2017.

According to the TSX, the Series 38 shares may be redeemed on Jan. 27, 2022, and on Jan. 27 every five years thereafter at $25 per share, together with all declared and unpaid dividends to the date fixed for redemption. Holders of the Series 38 shares may also convert the shares into non-cumulative, floating-rate, preferred shares, Series 39, on Jan. 27, 2022, and on Jan. 27 every five years thereafter.