Scotiabank eyes capped buffered enhanced participation note on stocks

By Devika Patel

Knoxville, Tenn., March 27 – Bank of Nova Scotia plans to price 18- to 21-month 0% capped buffered enhanced participation notes linked to a basket of 34 infrastructure stocks, according to a 424B2 filing with the Securities and Exchange Commission.

The basket consists of the stocks of Flowserve Corp., Idex Corp., Mueller Water Products, Inc., Pentair plc, Rexnord Corp., Xylem Inc., Vectren Corp., AECOM, Astec Industries, Inc., EMCOR Group, Inc., Eagle Materials Inc., Granite Construction Inc., Headwaters Inc., MDU Resources Group, Inc., Martin Marietta Materials, Inc., Summit Materials, LLC, Tutor Perini Corp., Tetra Tech, Inc., Vulcan Materials Co., Crown Castle International Corp., Uniti Group Inc., Dycom Industries, Inc., MasTec, Inc., Quanta Services Inc., CommScope Holding Co., Inc., Gibraltar Industries, Inc., SemGroup Corp., Valero Energy Corp., Knowles Corp., 3M Co., Lumentum Holdings Inc., Argan Inc., Jacobs Engineering Group Inc. and U.S. Concrete, Inc.

The payout at maturity will be par plus 1.5 times the basket gain, up to a maximum payout that will fall between $1,100.95 and $1,118.80 per $1,000 of notes and will be set at pricing.

Investors will receive par if the index declines by up to 10% and will lose 1.1111% for each 1% decline beyond the 10% buffer.

Scotia Capital (USA) Inc. is the agent, with Goldman, Sachs & Co. as a dealer.

The Cusip is 064159JJ6.

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