By Sarah Lizee
Olympia, Wash., Jan. 28 – Bank of Nova Scotia priced $19.74 million of 0% Accelerated Return Notes due March 27, 2020 linked to a basket of three financial sector stocks, according to a 424B2 filing with the Securities and Exchange Commission.
The underlying companies are Citigroup Inc., JPMorgan Chase & Co. and Morgan Stanley.
The payout at maturity will be par of $10 plus 300% of any basket gain, up to a maximum return of 24%.
Investors will be exposed to any losses.
BofA Merrill Lynch is the underwriter.
| Issuer: | Bank of Nova Scotia
|
| Issue: | Accelerated Return Notes
|
| Underlying stocks: | Citigroup Inc. (33.33% weight), JPMorgan Chase & Co. (33.33% weight) and Morgan Stanley (33.34% weight)
|
| Amount: | $19,742,260
|
| Maturity: | March 27, 2020
|
| Coupon: | 0%
|
| Price: | Par of $10
|
| Payout at maturity: | Par plus 300% of any basket gain, capped at 24%; exposure to any basket decline
|
| Initial share prices: | $62.71 for Citigroup, $102.74 for JPMorgan and $42.05 for Morgan Stanley
|
| Pricing date: | Jan. 24
|
| Settlement date: | Jan. 31
|
| Agent: | BofA Merrill Lynch
|
| Fees: | 2%
|
| Cusip: | 06417P579
|
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