Scotiabank plans to price Strategic Accelerated Redemption Securities on stock basket

By Emma Trincal

New York, May 12 – Bank of Nova Scotia plans to price 0% Strategic Accelerated Redemption Securities due June 2026 linked to an equally weighted basket of real estate stocks, according to an FWP filing with the Securities and Exchange Commission.

The basket consists of the common stocks of Equinix, Inc., Crown Castle Inc., and American Tower Corp.

The notes will be called at par plus an annualized call premium of 13.5% to 14.5% if the closing level of the basket is equal to or greater than its starting value on any yearly observation date.

The exact premium amount will be set at pricing.

If the notes are not called, the payout at maturity will be par of $10 plus 40.5% to 43.5% with full exposure to the decline.

BofA Securities, Inc. is the agent.

The notes are expected to price in May.

The fee is 2%.

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