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Scotiabank plans autocallable market-linked notes due 2022 on Stoxx
By Sarah Lizee
Olympia, Wash., April 4 – Bank of Nova Scotia plans to price 0% autocallable market-linked securities with a fixed percentage buffered downside due May 3, 2022 linked to the Euro Stoxx 50 index, according to a 424B2 with the Securities and Exchange Commission.
The notes will be called at an annual call premium of 8% to 9% if the index closes at or above its initial level on either annual call date. The exact premium will be set at pricing.
If the index finishes at or above 90% of the initial level, the payout at maturity will be par.
If the index finishes below 90% of its initial level, the payout will equal the decline of the index beyond the 10% threshold.
Scotia Capital (USA) Inc. is the agent and Wells Fargo Securities, LLC is the dealer.
The notes will price April 30.
The Cusip number is 064159NU6.
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