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Scotiabank to price capped leveraged index return notes on S&P 500
By Wendy Van Sickle
Columbus, Ohio, Nov. 25 – Bank of Nova Scotia plans to price 0% capped leveraged index return notes linked to the S&P 500 index, according to an FWP filed with the Securities and Exchange Commission.
The tenor is expected to be about two years.
If the index return is positive, the payout at maturity will be par plus double the index return, up to a maximum return of 11% to 15%, which will be set at pricing.
The payout will be par if the index falls by up to 10%. Investors will be fully exposed to losses beyond 10%.
Merrill Lynch & Co. is the agent.
The notes will price and settle in December.
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