Scotiabank plans market-linked securities due 2022 tied to S&P 500

By Sarah Lizee

Olympia, Wash., Sept. 7 – Bank of Nova Scotia plans to price 0% market-linked securities with leveraged upside participation to a cap and contingent downside due April 4, 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 150% of any index gain, capped at $1,330 to $1,380 per $1,000 of notes.

Investors will receive par if the index falls by up to the threshold level of 30% and will lose 1% for every 1% decline from the initial level if the index finishes below 70% of its initial level.

Scotia Capital (USA) Inc. and Wells Fargo Securities, LLC are the agents.

The notes (Cusip: 064159MC7) will price Sept. 27 and settle Oct. 2.

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