Published on 1/11/2024 in the Prospect News Structured Products Daily.
New Issue: Scotia prices $2.86 million of buffered digital basket-linked notes on index basket
By William Gullotti
Buffalo, N.Y., Jan. 11 – Bank of Nova Scotia priced $2.86 million of buffered digital basket-linked notes due Jan. 7, 2026 linked a 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 an 12% weight and the S&P/ASX 200 index with an 9% weight.
If the basket return is flat or positive, the payout at maturity will be the greater of par plus the basket return and par plus 19.8%.
Investors will receive par if the basket falls by no more than 10% and lose 1.1111% for every 1% of basket decline beyond 10%.
Scotia Capital (USA) Inc. is the agent. Goldman Sachs & Co. LLC is the dealer.
| Issuer: | Bank of Nova Scotia
|
| Issue: | Buffered digital basket-linked notes
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| Underlying basket: | Euro Stoxx 50 (36% weight), Topix (26% weight), FTSE 100 (17% weight), Swiss Market (12% weight), S&P/ASX 200 (9% weight)
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| Amount: | $2,863,000
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| Maturity: | Jan. 7, 2026
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| Coupon: | 0%
|
| Price: | Par
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| Payout at maturity: | If the basket finishes flat or positive, greater of par plus the basket return and par plus 19.8%; if the basket declines up to 10%, par; otherwise, 1.1111% loss for every 1% of basket decline beyond 10%
|
| Initial levels: | 4,521.65 for Euro Stoxx, 2,366.39 for Topix, 7,733.24 for FTSE, 11,137.79 for Swiss Market, 7,590.818 for S&P/ASX
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| Threshold level: | 90% of initial level
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| Pricing date: | Dec. 29
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| Settlement date: | Jan. 8
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| Agent: | Scotia Capital (USA) Inc.
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| Dealer: | Goldman Sachs & Co. LLC
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| Fees: | 1.5%
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| Cusip: | 06417YZN2
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