Scotiabank plans market-linked step-up notes on Stoxx Europe 600 Banks

By Susanna Moon

Chicago, Jan. 12 – Bank of Nova Scotia plans to price market-linked step-up notes due January 2019 linked to the Stoxx Europe 600 Banks index, according to an FWP filing with the Securities and Exchange Commission.

If the index finishes at or above the step-up level – 128% to 134% of the initial level – the payout at maturity will be par of $10 plus the index gain.

If the index gains by up to the step-up level, the payout will be par plus the step-up payment of 28% to 34%.

Investors will be exposed to any losses.

BofA Merrill Lynch is the agent.

The notes will price in January and settle in February.

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