Scotiabank plans notes linked to Raymond James current favorites index

By Angela McDaniels

Tacoma, Wash., March 4 – Bank of Nova Scotia plans to price 0% equity-linked index notes due March 20, 2018 linked to the Raymond James Analyst Current Favorites Total Return index, according to a 424B5 filing with the Securities and Exchange Commission.

The issue price will be 103.

The payout at maturity will be par plus the index return, which could be negative. Due to the 103 issue price and the index adjustment amount (described below), investors will receive less than their initial investments if the index does not increase by at least 4%.

The final level of the index will be its closing level on March 16, 2018 minus the aggregate index adjustment amount.

The index adjustment amount is $1.25 per note. Index adjustment amounts will accrue quarterly beginning on the next rebalancing date of the index to occur following the first anniversary of settlement. The aggregate amount of index adjustment amounts that may accrue over the tenor of the notes is $10.00 per note.

Any secondary market transaction executed by Scotia Capital (USA) Inc. will be subject to an early redemption fee of 0.75% through March 20, 2016, 0.5% from and excluding March 20, 2016 to and including March 20, 2017 and 0.25% from and excluding March 20, 2017 through maturity.

Scotia Capital (USA) is the underwriter.

The notes are expected to price March 20 and settle March 25.

The Cusip number is 064159GG5.

© 2015 Prospect News.
All content on this website is protected by copyright law in the U.S. and elsewhere. For the use of the person downloading only.
Redistribution and copying are prohibited by law without written permission in advance from Prospect News.
Redistribution or copying includes e-mailing, printing multiple copies or any other form of reproduction.