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Prospect News home > News index > List of issuers B > Headlines for Bank of Nova Scotia > News item |
Scotiabank plans 0% Leveraged Index Return notes linked to Dow Jones
By Devika Patel
Knoxville, Tenn., April 6 – Bank of Nova Scotia will price 0% Leveraged Index Return Notes due April 2023 linked to the Dow Jones industrial average, 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 101% to 121% of the index return. Investors will receive par if the index remains flat or falls by up to 20% and will lose 1% for each 1% decline of the index from its initial level if it falls beyond 20%. The exact participation rate will be set at pricing.
BofA Merrill Lynch is the agent.
The notes will price in April and settle in May.
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