Scotiabank reports plans to price Accelerated Return Notes on S&P 500

By Devika Patel

Knoxville, Tenn., April 6 – Bank of Nova Scotia intends to sell 0% Accelerated Return Notes due June 2019 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 triple any index gain, subject to a maximum settlement amount that is expected to be between 10% and 14%, with the exact cap to be set at pricing.

Investors will lose 1% for each 1% decline.

BofA Merrill Lynch is the agent.

The notes will price in April and settle in May.

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