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Scotia plans trigger index-linked notes with absolute return due 2025 on Stoxx 50
By Emma Trincal
New York, Oct. 27 – Bank of Nova Scotia plans to price 0% trigger index-linked notes due Oct. 30, 2025 linked to the Euro Stoxx 50 index, according to a 424B2 filing with the Securities and Exchange Commission.
If the final index level is greater than the initial level, the payout at maturity will be par plus at least 125% of the index return. The exact participation rate will be set at pricing.
If the index finishes negative at or above the trigger level, 70% of the initial share price, the payout at maturity will be par plus the absolute value of the index. Otherwise, investors will be exposed to the index decline from the initial price.
Scotia Capital (USA) Inc. is the underwriter with Goldman Sachs & Co. as a distributor.
The notes priced on Oct. 23 and are set to settle on Oct. 28.
The Cusip number is 064159XG6.
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