Scotiabank plans two-year market-linked notes linked to Euro Stoxx 50

By Tali Rackner

Norfolk, Va., Aug. 12 – Bank of Nova Scotia plans to price 0% market-linked securities – autocallable with fixed percentage buffered downside due Sept. 6, 2018 linked to the Euro Stoxx 50 index, according to a 424B2 filing with the Securities and Exchange Commission.

The notes will be called at par plus a call premium if each index closes above its initial level on any of three call dates. The premium will be 7.25% to 7.75% if called on Sept. 6, 2017, 10.875% to 11.625% if called on March 6, 2018, and 14.5% to 15.5% if called on Aug. 29, 2018. The exact call premiums will be set at pricing.

If the final index level is less than its initial level but greater than the 90% threshold level, the payout will be par. Otherwise, investors will be exposed to any losses beyond 10%.

Scotia Capital (USA) Inc. is the agent with Wells Fargo Securities LLC as a dealer.

The notes will price on Aug. 31 and settle on Sept. 6.

The Cusip number is 064159HY5.

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