Published on 4/5/2023 in the Prospect News Structured Products Daily.
New Issue: Scotia prices $10.07 million trigger gears linked to weighted index basket
By Wendy Van Sickle
Columbus, Ohio, April 5 – Bank of Nova Scotia priced $10.07 million of 0% trigger gears due March 31, 2028 linked to a weighted basket of equity indexes, according to a 424B2 filing with the Securities and Exchange Commission.
The basket includes 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 plus 2.069 times any basket gain.
If the basket finishes flat or falls by up to 25%, the payout will be par.
Otherwise, investors will lose 1% for every 1% that the basket declines from initial level.
Scotia Capital (USA) Inc. and UBS Financial Services Inc. are the agents.
| Issuer: | Bank of Nova Scotia
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| Issue: | Trigger gears
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| Underlying indexes: | 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: | $10,074,900
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| Maturity: | March 31, 2028
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| Coupon: | 0%
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| Price: | Par of $10
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| Payout at maturity: | Par plus 2.069 times any basket gain; par if basket finishes flat or falls by up to 25%; otherwise, full exposure to basket decline from initial level
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| Initial index levels: | 4,231.27 for Euro Stoxx, 27,883.78 for Nikkei 225, 7,564.27 for FTSE 100, 10,963.31 for Swiss Market, 7,050.334 for S&P/ASX 200
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| Downside threshold: | 75% of initial level
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| Pricing date: | March 29
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| Settlement date: | March 31
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| Agents: | Scotia Capital (USA) Inc. and UBS Financial Services Inc.
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| Fees: | 3.5%
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| Cusip: | 06418A639
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