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Scotiabank plans to price notes due 2022 linked to basket of indexes
By Sarah Lizee
Olympia, Wash., Feb. 25 – Bank of Nova Scotia plans to price 0% notes due March 2022 linked to a basket of unequally weighted indexes, according to a 424B2 filing with the Securities and Exchange Commission.
The basket components are the Euro Stoxx 50 index with a 40% weight, the FTSE 100 index with a 20% weight, the Nikkei Stock Average index with a 20% weight, the Swiss Market index with a 7.5% weight, the S&P/ASX 200 index with a 7.5% weight and the Hang Seng index with a 5% weight.
The payout at maturity will be par plus 130% to 150% of any basket gain.
Investors will receive par plus the absolute value of the return if the basket falls by up to 15% and will lose 1% for each 1% decline beyond the 15% buffer.
BofA Merrill Lynch is the agent.
The notes will price in March.
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