Inactive Instrument

BNS Split Corp II

Equities

BSC.PR.C

CA05567U4046

BNS Split Corp. II : Confirms Final Redemption Date

April 29, 2020 at 04:31 pm EDT

TORONTO, April 29, 2020 /CNW/ - BNS Split Corp. II (the "Company"), announced today that all of its issued and outstanding Class A Capital Shares ("Capital Shares") and Class B Preferred Shares, Series 2 ("Preferred Shares") will be redeemed by the Company in accordance with their terms on September 22, 2020 and that the Company will wind up and terminate as soon as practicable after such date.

The redemption price for each Preferred Share will be an amount equal to the Series 2 Preferred Share Redemption Price (as defined in the provisions attaching to the Preferred Shares). The Series 2 Preferred Share Redemption Price will equal the lesser of (i) $19.71; and (ii) Unit Value (as defined in the provisions attaching to the Preferred Shares). The redemption price (the "Capital Share Redemption Price") for every two Capital Shares redeemed will be an amount equal to the amount, if any, by which the Unit Value exceeds $19.71.

Holders of Capital Shares who wish to receive a redemption payment equal to the Capital Share Redemption Price in common shares of The Bank of Nova Scotia ("BNS") (rounded down to the nearest whole share) rather than cash must give notice to this effect to the Company and tender $19.71 for every two Capital Shares redeemed to the Company no later than August 24, 2020. Dealers and CDS may have deadlines earlier than August 24, 2020 for receiving such notice. Accordingly, a holder who wishes to receive BNS common shares on the final redemption should contact their dealer sufficiently in advance of August 24, 2020 to ensure that their dealer is provided sufficient time to deliver such notice to CDS before the deadline set by CDS for receiving those notices. Holders of Capital Shares who do not give the required 20 business days' notice will be deemed to have chosen to be paid in cash.

The payment of the amount due to holders of the redeemed Capital Shares and Preferred Shares will be made by the Company on September 22, 2020.

The Capital Shares and Preferred Shares will be delisted from the Toronto Stock Exchange on or about September 22, 2020.

BNS Split Corp. II is a mutual fund corporation created to hold a portfolio of common shares of The Bank of Nova Scotia. Capital Shares and Preferred Shares of BNS Split Corp. II are listed for trading on The Toronto Stock Exchange under the symbols BSC and BSC.PR.C respectively.

SOURCE BNS Split Corp. II

Latest news about BNS Split Corp II

Bns Split Corp Ii Reports Earnings Results for the Half Year Ended March 22, 2020	20-04-30	CI
Bns Split Corp Ii Reports Earnings Results for the Full Year Ended September 22, 2019	19-11-26	CI
BNS Split Corp. II Declares Quarterly Dividends and Preferred Share Dividends, Payable on December 20, 2019	19-11-21	CI
BNS Split Corp II Announces Partial Call for Redemption	19-09-09	CI
Bns Split Corp Ii Reports Earnings Results for the Half Year Ended March 22, 2019	19-05-03	CI
BNS Split Corp II Declares Quarterly Dividend on Preferred and Capital Share, Payable on June 21, 2019	19-05-02	CI
BNS Split Corp II Declares Quarterly Dividend on Preferred and Capital Share, Payable on March 22, 2019	19-03-05	CI
Bns Split Corp Ii Reports Earnings Results for the Full Year Ended September 22, 2018	18-11-23	CI
BNS Split Corp. Ii Declares Quarterly Dividends, Payable on September 22, 2017	17-09-07	CI
BNS Split Corp II Declares Quarterly Dividends, Payable on June 22, 2016	16-05-03	CI
BNS Split Corp. II Declares Dividends for Preferred Share and Capital Share, Payable on December 21, 2012	12-11-21	CI
BNS Split Corp II Declares Quarterly Dividends on Preferred shares and Common shares, Payable on March 22, 2012	12-03-06	CI

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Company Profile

BNS Split Corp. II is a Canada-based mutual fund company. The Company holds a portfolio consisting of common shares of The Bank of Nova Scotia (BNS) in order to generate income for the holders of the Company's preferred shares and to enable the holders of the Company's capital shares to participate in any capital appreciation in the BNS Shares. The Company may engage in securities lending transactions in order to generate additional returns. The Company's Unit consists of approximately two capital shares and a series 2 preferred share. The Company's authorized share capital consists of various shares, including capital shares; preferred shares; Class B, Class C, Class D, and Class E capital shares, and Class J shares and Class S shares. The policy of the Company is to invest in BNS Shares and not engage in trading except in various circumstances, including to fund retractions or redemptions of Capital Shares and Preferred Shares.

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