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Scotiabank plans five-year leveraged return notes linked to S&P 500
By Susanna Moon
Chicago, Dec. 27 – Bank of Nova Scotia plans 0% Leveraged Index Return Notes due January 2022 linked to the S&P 500 index, according to a 424B2 filing with the Securities and Exchange Commission.
The payout at maturity will be par plus 105% to 125% of any index gain, with the exact participation rate to 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 agent.
The notes will price in January.
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