Scotiabank plans capped buffered participation notes tied to S&P 500

By Toni Weeks

San Luis Obispo, Calif., March 12 - Bank of Nova Scotia plans to price 0% series A capped buffered participation notes linked to the S&P 500 index, according to a 424B5 filing with the Securities and Exchange Commission.

The notes are expected to mature 24 to 27 months after issue.

The payout at maturity will be par plus any gain in the index, up to a maximum settlement amount of $1,230 to $1,270 per $1,000 principal amount. The exact maximum settlement amount will be set at pricing.

Investors will receive par if the index falls by up to 10% and will lose 1.1111% for each 1% decline beyond the 10% buffer.

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

The notes will price on March 13 and settle on March 20.

The Cusip number is 064159569.

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