Published on 4/28/2020 in the Prospect News Structured Products Daily.
New Issue: Scotiabank sells $4.11 million capped leveraged index return notes on index basket
By Sarah Lizee
Olympia, Wash., April 28 – Bank of Nova Scotia priced $4.11 million of 0% capped leveraged index return notes due April 28, 2022 linked to a basket of unequally weighted indexes, according to a 424B2 filing with the Securities and Exchange Commission.
The basket components are the Euro Stoxx 50 index with a 40% weight, the FTSE 100 index with a 20% weight, the Nikkei Stock Average index with a 20% weight, the Swiss Market index with a 7.5% weight, the S&P/ASX 200 index with a 7.5% weight and the Hang Seng index with a 5% weight.
The payout at maturity will be par plus double any basket gain, up to a maximum return of 21.07%.
Investors will receive par if the basket falls by up to 10% and will lose 1% for each 1% decline beyond 10%.
BofA Securities, Inc. is the agent.
Issuer: | Bank of Nova Scotia
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Issue: | Capped leveraged index return notes
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Underlying indexes: | Euro Stoxx 50 (40% weight), FTSE 100 (20% weight), Nikkei Stock Average (20% weight), Swiss Market (7.5% weight), S&P/ASX 200 (7.5% weight), Hang Seng (5% weight)
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Amount: | $4,114,040
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Maturity: | April 28, 2022
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Coupon: | 0%
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Price: | Par of $10
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Payout at maturity: | Par plus 200% of any basket gain, with return capped at 21.07%; par if basket falls by up to 10%; exposure to losses beyond 10%
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Initial index levels: | 2,852.46 for Stoxx, 5,826.61 for FTSE, 19,429.44 for Nikkei, 9,625.48 for Swiss, 5,217.112 for S&P/ASX, 23,977.32 for Hang Seng
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Pricing date: | April 23
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Settlement date: | April 30
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Agent: | BofA Securities, Inc.
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Fees: | 2%
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Cusip: | 06417R831
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