By Wendy Van Sickle
Columbus, Ohio, April 28 – Bank of Nova Scotia priced $20.23 million of trigger autocallable contingent yield notes due April 26, 2028 linked to the least performing of the Energy Select Sector SPDR fund and the SPDR Dow Jones Industrial Average ETF Trust, according to a 424B2 filing with the Securities and Exchange Commission.
The notes will pay a contingent quarterly coupon at the rate of 11.6% per year if each ETF closes at or above its coupon barrier, 60% of its initial level, on the related observation date.
The notes will be automatically called at par plus coupon if the shares of each ETF close at or above its initial share price on any quarterly call observation date after six months.
If the notes are not called and the worst performer finishes at or above its downside threshold level, 60% of the initial share price, the payout at maturity will be par plus the final coupon. Otherwise, investors will lose 1% for every 1% that the final share price of the least performing ETF is less than its initial share price.
Scotia Capital (USA) Inc. and UBS Financial Services Inc. are the agents.
| Issuer: | Bank of Nova Scotia
|
| Issue: | Trigger autocallable contingent yield notes
|
| Underlying ETFs: | SPDR Dow Jones Industrial Average ETF Trust, Energy Select Sector SPDR fund
|
| Amount: | $20,230,600
|
| Maturity: | April 26, 2028
|
| Coupon: | 11.6% per year, paid quarterly, if each ETF closes at or above its coupon barrier on any related observation date
|
| Price: | Par
|
| Payout at maturity: | Par plus final coupon if each ETF finishes at or above coupon barrier level; otherwise, 1% loss for each 1% decline of laggard ETF from initial level
|
| Call: | Automatically at par plus coupon if each ETF closes at or above initial level on any quarterly call observation date after six months
|
| Initial levels: | $338.11 for Dow, $84.98 for Energy Select
|
| Coupon barrier levels: | $202.87 for Dow, $50.99 for Energy Select; 60% of initial levels
|
| Downside thresholds: | $202.87 for Dow, $50.99 for Energy Select; 60% of initial levels
|
| Pricing date: | April 21
|
| Settlement date: | April 26
|
| Agents: | Scotia Capital (USA) Inc. and UBS Financial Services Inc.
|
| Fees: | 2.25%
|
| Cusip: | 06418A787
|
|
|
|
|
|
|
© 2015 Prospect News.
All content on this website is protected by copyright law in the U.S. and elsewhere.
For the use of the person downloading only.
Redistribution and copying are prohibited by law without written permission in advance from Prospect News.
Redistribution or copying includes e-mailing, printing multiple copies or any other form of reproduction.
