Published on 8/31/2018 in the Prospect News Structured Products Daily.
New Issue: Scotiabank sells $36.06 million Accelerated Return Notes on Stoxx
By Wendy Van Sickle
Columbus, Ohio, Aug. 31 – Bank of Nova Scotia priced $36.06 million of 0% Accelerated Return Notes due Oct. 25, 2019 linked to the Euro Stoxx 50 index, according to a 424B2 filing with the Securities and Exchange Commission.
The payout at maturity will be par of $10 plus triple any index gain, subject to a capped return of 22.23%.
Investors will be exposed to any index decline.
BofA Merrill Lynch is the agent.
Issuer: | Bank of Nova Scotia
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Issue: | Accelerated Return Notes
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Underlying index: | Euro Stoxx 50 index
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Amount: | $36,062,250
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Maturity: | Oct. 25, 2019
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Coupon: | 0%
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Price: | Par of $10
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Payout at maturity: | Par plus 300% of any index gain, capped at 22.23%; exposure to any index decline
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Initial index level: | 3,430.99
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Final index level: | Average of index’s closing levels on five trading days ending Oct. 22, 2019
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Pricing date: | Aug. 30
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Settlement date: | Sept. 7
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Underwriter: | BofA Merrill Lynch
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Fees: | 2%
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Cusip: | 064161151
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