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Scotiabank plans 0% Leveraged Index Return notes linked to Stoxx 50
New York, May 25 – Bank of Nova Scotia plans to price 0% Leveraged Index Return Notes due June 2021 linked to the Euro Stoxx 50 index, according to an FWP filing with the Securities and Exchange Commission.
If the index return is positive, the payout at maturity will be par plus 135% to 155% of the index return. The exact participation rate will be set at pricing.
Investors will receive par if the index remains flat or falls by up to 25% and will lose 1% for each 1% decline of the index from its initial level if it falls beyond 25%.
BofA Merrill Lynch is the agent.
The notes will price in June and settle in July.
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