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Scotiabank plans to price Accelerated Return Notes tied to JPX-Nikkei
By Devika Patel
Knoxville, Tenn., July 7 – Bank of Nova Scotia plans to price 0% Accelerated Return Notes due in September 2018 linked to the JPX-Nikkei Index 400, according to an FWP filed with the Securities and Exchange Commission.
If the index return is positive, the payout at maturity will be par of $10 plus triple the index return, subject to a maximum payout of 12% to 16%. The exact cap will be set at pricing. If the index return is negative, investors will lose 1% for each 1% decline.
BofA Merrill Lynch is the agent.
The notes will price in July and settle in August.
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