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Scotiabank to price Accelerated Return Notes on S&P Regional Banks
By Sarah Lizee
Olympia, Wash., May 24 – Bank of Nova Scotia plans to price 0% Accelerated Return Notes due August 2019 linked to the S&P Regional Banks Select Industry index, according to a 424B2 filing with the Securities and Exchange Commission.
The payout at maturity will be par of $10 plus triple any index gain, subject to a capped return of 14% to 18%. The exact cap will be set at pricing.
Investors will be exposed to any index decline.
BofA Merrill Lynch is the agent.
The notes will price in June and settle in July.
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