Published on 3/14/2022 in the Prospect News Structured Products Daily.
New Issue: Scotia prices $7.63 million of digital basket-linked notes on index basket
By William Gullotti
Buffalo, N.Y., March 14 – Bank of Nova Scotia priced $7.63 million of digital basket-linked notes due Sept. 13, 2023 linked a weighted basket of indexes, according to a 424B2 filing with the Securities and Exchange Commission.
The basket consists of the Euro Stoxx 50 index with a 36% weight, the Topix index with a 29% weight, the FTSE 100 index with a 16% weight, the Swiss Market index with an 11% weight and the S&P/ASX 200 index with an 8% weight.
If the basket finishes flat or gains, the payout at maturity will be par plus the greater of the basket return and 21.1%.
Investors will be fully exposed to any basket decline.
Scotia Capital (USA) Inc. is the agent. Goldman Sachs & Co. LLC is the dealer.
Issuer: | Bank of Nova Scotia
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Issue: | Digital basket-linked notes
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Underlying basket: | Euro Stoxx 50 (36% weight), Topix (29% weight), FTSE 100 (16% weight), Swiss Market (11% weight), S&P/ASX 200 (8% weight)
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Amount: | $7,629,000
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Maturity: | Sept. 13, 2023
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Coupon: | 0%
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Price: | Par
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Payout at maturity: | If the basket return is flat or positive, par plus the greater of the basket return and 21.1%; otherwise, full exposure to any basket decline
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Initial levels: | 3,766.02 for Euro Stoxx, 1,758.89 for Topix, 7,190.72 for FTSE, 11,493.36 for Swiss Market, 7,053.034 for S&P/ASX
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Pricing date: | March 9
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Settlement date: | March 16
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Agent: | Scotia Capital (USA) Inc.
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Dealer: | Goldman Sachs & Co. LLC
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Fees: | 1.38%
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Cusip: | 0641598D1
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