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Scotiabank plans Market Index Target-Term Securities on index basket
By Sarah Lizee
Olympia, Wash., Jan. 9 – Bank of Nova Scotia plans to price 0% Market Index Target-Term Securities due January 2023 linked to a basket of indexes, according to an FWP filing with the Securities and Exchange Commission.
The basket is made up of the Euro Stoxx 50 index with an initial weight of 40%, the FTSE 100 index and the Nikkei Stock Average index with an initial weight of 20% each, the Swiss Market index and the S&P/ASX 200 index with an initial weight of 7.5% each and the Hang Seng index with an initial weight of 5%.
If the basket return is positive, the payout at maturity will be par of $10 plus the 100% to 120% of the basket return.
If the basket return is zero or negative, the payout will be par.
BofA Merrill Lynch is the underwriter.
The notes are expected to price and settle in January.
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