Published on 11/16/2017 in the Prospect News Structured Products Daily.
New Issue: Scotiabank sells $13.65 million capped buffered enhanced participation notes on basket
By Wendy Van Sickle
Columbus, Ohio, Nov. 16 – Bank of Nova Scotia priced $13.65 million of 0% capped buffered enhanced participation notes due March 20, 2020 linked to a 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 37% weight, the FTSE 100 index with a 23% weight, the Topix index with a 23% weight, the Swiss Market index with a 9% weight and the S&P/ASX 200 index with an 8% weight.
If the basket return is positive, the payout at maturity will be par plus 170% of the basket return, up to a maximum payout of $1,484.50 per $1,000 of notes. Investors will receive par if the basket declines by 15% or less and will lose 1.1765% for every 1% that it declines beyond 15%.
Scotia Capital (USA) Inc. and Goldman Sachs & Co. are the agents.
Issuer: | Bank of Nova Scotia
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Issue: | Capped buffered enhanced participation notes
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Underlying indexes: | Euro Stoxx 50 (37% weight), FTSE 100 (23% weight), Topix (23% weight), Swiss Market (9% weight) and S&P/ASX 200 (8% weight)
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Amount: | $13,645,000
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Maturity: | March 20, 2020
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Coupon: | 0%
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Price: | Par
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Payout at maturity: | If basket return is positive, par plus 170% of basket return up to maximum payout of $1,484.50 per $1,000 note; par if basket declines by 15% or less; 1.1765% loss for every 1% that basket declines beyond 15%
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Initial levels: | 3,556.38 for Euro Stoxx, 7,414.42 for FTSE, 1,778.87 for Topix, 9,130.48 for Swiss Market and 5,968.746 for S&P/ASX
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Pricing date: | Nov. 14
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Settlement date: | Nov. 20
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Agent: | Scotia Capital (USA) Inc. and Goldman Sachs & Co.
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Fees: | 0%
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Cusip: | 064159KL9
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