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Scotiabank plans Accelerated Return Notes on basket of sector indexes
By Marisa Wong
Los Angeles, Feb. 19 – Bank of Nova Scotia plans to price 0% Accelerated Return Notes due April 2022 linked to a basket of sector indexes, according to an FWP filing with the Securities and Exchange Commission.
The equally weighted basket consists of the Energy Select Sector index, the Materials Select Sector index and the Industrial Select Sector index.
The payout at maturity will be par of $10 plus triple any basket gain, capped at par plus 23.5% to 27.5%. The exact maximum return will be set at pricing. Investors will be exposed to any basket decline.
BofA Securities, Inc. is the underwriter.
The notes will price in February and settle in March.
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