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Scotiabank plans to price leveraged buffered notes linked to S&P 500
By Angela McDaniels
Tacoma, Wash., Aug. 5 – Bank of Nova Scotia plans to price 0% market-linked securities with leveraged upside participation to a cap and fixed percentage buffered downside due March 3, 2021 linked to the S&P 500 index, according to a 424B5 filing with the Securities and Exchange Commission.
If the index return is positive, the payout at maturity will be par plus 150% of the index return, subject to a maximum return that is expected to be 55% to 60% and will be set at pricing. Investors will receive par if the index decreases by up to 20% and will lose 1% for every 1% that it declines beyond 20%.
Scotia Capital (USA) Inc. and Wells Fargo Securities LLC are the agents.
The notes will price Aug. 31 and settle Sept. 3.
The Cusip number is 064159GR1.
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