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Scotiabank plans Leveraged Index Return Notes linked to S&P 500
By Susanna Moon
Chicago, Sept. 24 – Bank of Nova Scotia plans to price 0% Leveraged Index Return Notes due October 2020 linked to the S&P 500 index, according to an FWP filing with the Securities and Exchange Commission.
The payout at maturity will be par of $10 plus 101% to 121% of any index gain. The exact upside participation rate will be set at pricing.
Investors will receive par if the index falls by up to 20% and will lose 1% for every 1% decline beyond 20%.
BofA Merrill Lynch is the underwriter.
The notes will price in October and settle in November.
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