Scotiabank eyes Capped Leveraged Index Return Notes on S&P 500

By Sarah Lizee

Olympia, Wash., Aug. 16 – Bank of Nova Scotia plans to price 0% Capped Leveraged Index Return Notes with absolute return buffer due August 2024 linked to the S&P 500 index, according to an FWP filed with the Securities and Exchange Commission.

The payout at maturity will be par of $10 plus 1.15 times any index gain, up to a capped return of 45% to 55%. The exact cap will be set at pricing.

If the index falls by up to 20%, the payout will be par plus the absolute value of the return of the index.

Investors will lose 1% for every 1% decline beyond 20%.

BofA Securities, Inc. is the agent.

The notes will price in April.

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