Published on 7/29/2022 in the Prospect News Structured Products Daily.
New Issue: Scotia prices $2.92 million capped gears linked to index basket
By Wendy Van Sickle
Columbus, Ohio, July 29 – Bank of Nova Scotia priced $2.92 million of 0% capped gears due Sept. 29, 2023 linked to an unequally-weighted basket of five indexes, according to a 424B2 filing with the Securities and Exchange Commission.
The indexes are 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.
If the basket return is greater than zero, the payout at maturity will be par of $10 plus three times the basket return, subject to a maximum return of 23.2%. If the basket return is negative, investors will have one-to-one exposure to the decline.
UBS Financial Services Inc. and Scotia Capital (USA) Inc. are the underwriters.
Issuer: | Bank of Nova Scotia
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Issue: | Capped gears
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Underlying basket: | Euro Stoxx 50 index (40% weight), Nikkei 225 index (25% weight), FTSE 100 index (17.5% weight), Swiss Market index (10% weight) and S&P/ASX 200 index (7.5% weight)
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Amount: | $2,923,700
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Maturity: | Sept. 29, 2023
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Coupon: | 0%
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Price: | Par of $10
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Payout at maturity: | If basket return is greater than zero, par plus three times basket return, subject to 23.2% maximum return; one-to-one exposure to any basket decline
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Initial levels: | 3,607.78 for Stoxx, 27,715.75 for Nikkei, 7,348.23 for FTSE, 11,056.74 for Swiss, 6,823.234 for ASX
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Pricing date: | July 27
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Settlement date: | July 29
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Underwriters: | UBS Financial Services Inc. and Scotia Capital (USA) Inc.
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Fees: | 2%
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Cusip: | 06417U248
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