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Scotiabank plans capped leveraged index return notes on Euro Stoxx 50
By Tali Rackner
Norfolk, Va., June 26 – Bank of Nova Scotia plans to price 0% capped leveraged index return notes tied to the Euro Stoxx 50 index, according to an FWP filing with the Securities and Exchange Commission.
The maturity date is expected to fall in July 2017.
If the index return is positive, the payout at maturity will be par of $10 plus 200% of the index return, subject to a maximum settlement amount that is expected to be 14% to 18% over the principal amount.
Investors will receive par if the index falls by up to 10% and will be exposed to any losses beyond the 10% buffer.
The final index level will be the average of the closing index levels on five scheduled calculation days shortly before the maturity date.
Merrill Lynch, Pierce, Fenner & Smith Inc. is the agent.
The notes will price in July and settle in August.
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