Scotiabank to price capped buffered notes linked to S&P Banks index

By Angela McDaniels

Tacoma, Wash., Nov. 8 - Bank of Nova Scotia plans to price 0% capped buffered notes linked to the S&P Banks Select Industry index, according to a 424B5 filing with the Securities and Exchange Commission.

The tenor of the notes is expected to be 24 to 27 months and will be set at pricing.

If the final index level is greater than the initial index level, the payout at maturity will be par plus the index return, subject to a maximum redemption amount that is expected to be $1,150 to $1,190 per $1,000 principal amount of notes. Investors will receive par if the index declines by 10% or less and will lose 1.1111% for every 1% that it declines beyond 10%.

Scotia Capital (USA) Inc. is the underwriter with Goldman Sachs & Co. as dealer.

The Cusip number is 064159346.

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