Published on 11/22/2022 in the Prospect News Structured Products Daily.
New Issue: Scotiabank prices $7.62 million capped buffered enhanced participation notes on basket
By William Gullotti
Buffalo, N.Y., Nov. 22 – Bank of Nova Scotia priced $7.62 million of 0% capped buffered enhanced participation notes due March 8, 2024 linked to an unequally weighted 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 36% weight, the Topix index with a 26% weight, the FTSE 100 index with a 17% weight, the Swiss Market index with a 12% weight and the S&P/ASX 200 index with an 9% weight.
If the basket return is positive, the payout at maturity will be par plus 160% of the basket return, subject to a maximum settlement amount of par plus 32%.
Investors will receive par if the basket declines up to 15% and lose 1.1765% for every 1% of basket decline beyond 15%.
Scotia Capital (USA) Inc. is the agent. Simon Markets LLC is the dealer.
| Issuer: | Bank of Nova Scotia
|
| Issue: | Capped buffered enhanced participation basket-linked notes
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| Underlying indexes: | Euro Stoxx 50 index (36% weight), Topix index (26% weight), FTSE 100 index (17% weight), Swiss Market index (12% weight), S&P/ASX 200 index (9% weight)
|
| Amount: | $7,616,000
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| Maturity: | March 8, 2024
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| Coupon: | 0%
|
| Price: | Par
|
| Payout at maturity: | If basket return is positive, par plus 160% of basket return, capped at par plus 32%; if basket falls by no more than 15%, par; otherwise, lose 1.1765% for every 1% of basket decline beyond 15%
|
| Initial levels: | 3,882.78 for Euro Stoxx, 1,963.29 for Topix, 7,351.19 for FTSE, 10,936.62 for Swiss Market, 7,122.24 for S&P/ASX
|
| Buffer level: | 85% of initial level
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| Pricing date: | Nov. 16
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| Settlement date: | Nov. 23
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| Agent: | Scotia Capital (USA) Inc.
|
| Dealer: | Simon Markets LLC
|
| Fees: | None
|
| Cusip: | 06417YBP3
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