Scotiabank Earnings and Strategic Update
Global Registered Covered Bond Program
CAD$36 billion Global Covered Bond Program
• Active in multiple currencies: USD, EUR, GBP, AUD and CHF
• Extensive regulatory oversight and pool audit requirements
•
Mandatory property value indexation
• Established high level of safeguards and disclosure requirements
•
Program carries the ECBC Covered Bond Label
Issuer The Bank of Nova Scotia
Guarantor
Guarantee
Status
Program Size
Ratings
Cover Pool
Asset Percentage
Law
Issuance Format
Scotiabank Covered Bond Guarantor Limited Partnership
Payments of interest and principal in respect of the covered bonds are irrevocably guaranteed by the
Guarantor. The obligations under the Covered Bond Guarantee constitute direct obligations of the Issuer
and are secured by the assets of the Guarantor, including the Portfolio.
The covered bonds will constitute legal, valid and binding direct, unconditional, unsubordinated and
unsecured obligations of the Bank and will rank pari passu with all deposit liabilities of the Bank without
any preference among themselves and at least pari passu with all other unsubordinated and unsecured
obligations of the Bank, present and future.
CAD $36 billion
Aaa/AAA/AAA (Moody's / Fitch / DBRS)
First lien uninsured Canadian residential mortgage loans with LTV limit of 80%
94.8% (5.5% minimum overcollateralization)
Ontario, Canada
144A/Reg S (UKLA Listed)
Scotiabank®
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