Issuer
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Scorpio Tankers Inc.
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Securities Offered
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7.00% Fixed Rate Senior Unsecured Notes due 2025 (the “Notes”)
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Principal Amount
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$25,000,000
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Over-allotment Option
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$3,750,000 principal amount
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Maturity
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June 30, 2025
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Coupon
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7.00%
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Interest Payment Dates
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March 30, June 30, September 30 and December 30 of each year, commencing June 30, 2020
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Record Dates
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March 15, June 15, September 15 or December 15 of each year (whether or not a Business Day), immediately preceding the relevant Interest Payment Date
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Trade Date
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May 27, 2020
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Settlement Date
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May 29, 2020
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Public Offering Price
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$25.00 per Note
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Underwriters’ Discount
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$0.7875 per Note
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Underwriters’ Purchase Price from Issuer
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$24.2125 per Note
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Net Proceeds to the Issuer (before expenses)
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$24,212,500 (assuming no exercise of the underwriters’ option to purchase additional Notes)
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Denominations
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$25.00 and integral multiples of $25.00 in excess thereof
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Optional Redemption
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The Notes may be redeemed for cash, in whole or in part, at any time at our option (i) on or after June 30, 2022 and prior to June 30, 2023, at a redemption price equal to 102%
of the principal amount to be redeemed, (ii) on or after June 30, 2023 and prior to June 30, 2024, at a redemption price equal to 101% of the principal amount to be redeemed, and (iii) on or after June 30, 2024 and prior to maturity, at a
redemption price equal to 100% of the principal amount to be redeemed, in each case, plus accrued and unpaid interest to, but excluding, the date of redemption, as described under “Description of Notes⸻ Optional Redemption.”
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Redemption Upon a Change in Control
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If a “Change of Control” occurs prior to June 30, 2022, the Issuer shall have the right to repurchase the Notes, in whole but not in part, within 90 days of the occurrence of
the Change of Control, at a redemption price equal to 104% of the principal amount to be redeemed plus accrued and unpaid interest to, but excluding, the date of redemption, upon the occurrence of certain change of control events, as
described under “Description of Notes⸻Optional Redemption Upon Change of Control.”
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Ratings
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The Notes will not be rated by any nationally recognized statistical rating organization
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Listing
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The Issuer has submitted an application to list the Notes on the New York Stock Exchange under the symbol “SBBA.” If approved for listing, trading on the New York Stock
Exchange is expected to commence within 30 days after the Notes are first issued
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CUSIP/ISIN
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80918T 208 / US80918T2087
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Joint Book-Running Managers
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B. Riley FBR, Inc.
Ladenburg Thalmann & Co. Inc
Janney Montgomery Scott LLC
William Blair & Company, L.L.C.
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Co-Managers
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Boenning & Scattergood, Inc.
Incapital LLC
National Securities Corp.
Wedbush Securities Inc.
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Certain Covenants
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The indenture governing the Notes will include the covenants described under “Description of Notes—Certain Covenants” in the Preliminary Prospectus Supplement
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