Published on 3/8/2021 in the Prospect News Structured Products Daily.
New Issue: Scotia prices $3.13 million trigger gears linked to MSCI EM index, basket
By Kiku Steinfeld
Chicago, March 8 – Bank of Nova Scotia priced $3.13 million of 0% trigger gears due Feb. 26, 2026 linked to the least performing of an index and an unequally weighted basket, according to a 424B2 filing with the Securities and Exchange Commission.
The underlying assets include the MSCI Emerging Markets index and basket of equity indexes composed of the Euro Stoxx 50 index with a 40% weight, the Nikkei 225 index with a 25% weight, the FTSE 100 index with a 17.5% weight, the Swiss Market index with a 10% weight and the S&P/ASX 200 index with a 7.5% weight.
The payout at maturity will be par of $10 plus 2.2 times any gain of the least performing asset.
If the least performing asset finishes flat or falls by up to 25%, the payout will be par.
Otherwise, investors will lose 1% for every 1% decline of the least performing asset from its initial level.
Scotia Capital (USA) Inc. and UBS Financial Services Inc. are the agents.
| Issuer: | Bank of Nova Scotia
|
| Issue: | Trigger gears
|
| Underlying assets: | MSCI Emerging Markets index and basket of Euro Stoxx 50 (40% weight), Nikkei 225 (25% weight), FTSE 100 (17.5% weight), Swiss Market (10% weight), S&P/ASX 200 (7.5% weight)
|
| Amount: | $3,125,000
|
| Maturity: | Feb. 26, 2026
|
| Coupon: | 0%
|
| Price: | Par of $10
|
| Payout at maturity: | Par plus 2.2 times any gain of least performing asset; par if least performing asset finishes flat or falls by up to 25%; otherwise, full exposure to decline of least performing asset
|
| Initial levels: | 1,376.76 for MSCI Emerging Markets; 3,705.99 for Euro Stoxx 50, 29,671.70 for FTSE 100, 6,658.97 for Nikkei 225, 10,727.70 for Swiss Market and 6,777.817 for S&P/ASX 200
|
| Downside thresholds: | 75% of initial levels
|
| Pricing date: | Feb. 24
|
| Settlement date: | Feb. 26
|
| Agents: | Scotia Capital (USA) Inc. and UBS Financial Services Inc.
|
| Fees: | 3.5%
|
| Cusip: | 06417T357
|
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