Scotiabank plans absolute return trigger notes tied to S&P 500 index

By Sarah Lizee

Olympia, Wash., July 11 – Bank of Nova Scotia plans to price 0% absolute return trigger notes due in 25 to 28 months linked to the S&P 500 index, according to a 424B2 filing with the Securities and Exchange Commission.

A barrier event will occur if on any day during the life of the notes the closing level of the underlier declines below the lower barrier of 81.03% to 77.74% of the initial underlier level or increases above the upper barrier of 118.97% to 122.26% of the initial underlier level. The exact barrier levels will be set at pricing.

If a barrier event has not occurred, the payout at maturity will be par plus the absolute value of the index return, up to a maximum settlement amount of 1,189.70 to $1,222.60 per $1,000 of notes.

If a barrier event has occurred, the payout will be par.

Scotia Capital (USA) Inc. is the agent and Goldman Sachs & Co. is the dealer.

The Cusip number is 064159PJ9.

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