Add to balance / Manage account | User: | Log out |
Prospect News home > News index > List of issuers R > Headlines for Russell 2000 index > News item |
Scotiabank plans autocallable market-linked step-up notes on Russell
By Devika Patel
Knoxville, Tenn., March 30 – Bank of Nova Scotia plans to price autocallable market-linked step-up notes due April 2021 linked to the Russell 2000 index, according to an FWP filing with the Securities and Exchange Commission.
The notes will be called at an annual call premium of 7.5% to 8.5% if the index closes at or above its initial level on any annual call date. The exact premium will be set at pricing.
If the index finishes at or above the step-up value – 140% of the initial level – the payout at maturity will be par of $10 plus the index gain.
If the index is unchanged or gains by up to the step-up level, the payout will be par plus the step-up payment of 40%. The payout will be par if the index decreases by up to 15% and investors will be exposed to any declines beyond 15%.
Merrill Lynch, Pierce, Fenner & Smith Inc. is the agent.
The notes will price in April and settle in May.
© 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.