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Scotiabank plans five-year Leveraged Index Return Notes tied to Dow
By Susanna Moon
Chicago, Oct. 13 – Bank of Nova Scotia plans to price 0% Leveraged Index Return Notes due October 2022 linked to the Dow Jones industrial average, according to an FWP filed with the Securities and Exchange Commission.
The payout at maturity will be par of $10 plus 102% to 122% of any index gain, with the exact participation rate to be set at pricing.
Investors will receive par if the index falls by up to 20% and will lose 1% for each 1% decline beyond 20%.
BofA Merrill Lynch is the agent.
The notes will price in October and settle in November.
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