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Scotiabank plans notes due 2024 tied to Dow Jones industrial average
By Devika Patel
Knoxville, Tenn., July 5 – Bank of Nova Scotia plans to price 0% notes due July 2024 linked to the Dow Jones industrial average, according to a 424B2 filing with the Securities and Exchange Commission.
The payout at maturity will be par plus 200% of any gain in the index, subject to a maximum payout of 78% to 98%, with the exact cap to be set at pricing.
Investors will lose 1% for each 1% decline.
BofA Merrill Lynch is the agent.
The notes will price in July and settle in August.
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