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Scotiabank plans Capped Leveraged Index Return Notes on index basket
By Susanna Moon
Chicago, April 23 – Bank of Nova Scotia plans to price 0% Capped Leveraged Index Return Notes due April 2020 linked to a basket of unequally weighted indexes, according to a 424B2 filing with the Securities and Exchange Commission.
The basket consists of the S&P 500 index with an initial weight of 45%, the Stoxx Europe 600 index with an initial weight of 35% and the Russell 2000 index with an initial weight of 20%.
The payout at maturity will be par plus double any basket gain, up to a maximum return of 18% to 22%.
Investors will receive par if the basket falls by up to 5% and will lose 1% for each 1% decline beyond 5%.
BofA Merrill Lynch is the agent.
The notes will price in April and settle in May.
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