Published on 4/6/2020 in the Prospect News Structured Products Daily.
New Issue: Scotia sells $1.49 million capped notes with absolute return buffer on basket
By Wendy Van Sickle
Columbus, Ohio, April 6 – Bank of Nova Scotia priced $1.49 million of 0% capped notes with absolute return buffer due March 31, 2023 linked to an international equity basket, according to a 424B2 filing with the Securities and Exchange Commission.
The basket consists of the Euro Stoxx 50 index (40% weight), the FTSE 100 index (20% weight), the Nikkei Stock Average index (20% weight), the Swiss Market index (7.5% weight), the S&P/ASX 200 index (7.5% weight) and the Hang Seng index (5% weight).
The payout at maturity will be par of $10 plus any basket gain, up to a maximum return of 24.4%. If the basket falls by up to 15%, investors will receive par plus the absolute value of its return.
Investors will be exposed to any basket decline beyond 15%.
BofA Securities, Inc. is the agent.
Issuer: | Bank of Nova Scotia
|
Issue: | Capped notes with absolute return buffer
|
Underlying basket: | Euro Stoxx 50 index (40% weight), FTSE 100 index (20% weight), Nikkei Stock Average index (20% weight), Swiss Market index (7.5% weight), S&P/ASX 200 index (7.5% weight) and Hang Seng index (5% weight)
|
Amount: | $1,489,610
|
Maturity: | March 31, 2023
|
Coupon: | 0%
|
Price: | Par of $10
|
Payout at maturity: | Par plus any basket gain, capped at 24.4%; if basket falls by up to 15%, par plus absolute value of basket return; exposure to any basket decline beyond 15%
|
Initial index levels: | 2,847.78 for Stoxx, 5,815.73 for FTSE, 18,664.6 for Nikkei, 9,203.98 for Swiss, 5,113.287 for S&P/ASX, 23,352.34 for Hang Seng
|
Final index level: | Average of index’s closing levels on five trading days ending March 28, 2023
|
Pricing date: | March 26
|
Settlement date: | April 2
|
Underwriter: | BofA Merrill Lynch
|
Fees: | 2.25%
|
Cusip: | 06417Q114
|
|
© 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.