Published on 1/29/2018 in the Prospect News Structured Products Daily.
New Issue: Scotiabank prices $64.43 million Accelerated Return Notes on indexes
By Marisa Wong
Morgantown, W.Va., Jan. 29 – Bank of Nova Scotia priced $64,431,240 of 0% Accelerated Return Notes due March 29, 2019 linked to a 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 40% weight, the FTSE 100 index with a 20% weight, the Nikkei Stock Average index with a 20% weight, the Swiss Market index with a 7.5% weight, the S&P/ASX 200 index with a 7.5% weight and the Hang Seng index with a 5% weight
If the basket return is positive, the payout at maturity will be par of $10 plus 300% of the basket return, subject to a maximum return of 18.78%. If the basket return is negative, investors will have one-to-one exposure to the decline.
BofA Merrill Lynch is the agent.
| Issuer: | Bank of Nova Scotia
|
| Issue: | Accelerated Return Notes
|
| Underlying indexes: | Euro Stoxx 50 (40% weight), FTSE 100 (20% weight), Nikkei Stock Average (20% weight), Swiss Market (7.5% weight), S&P/ASX 200 (7.5% weight) and Hang Seng (5% weight)
|
| Amount: | $64,431,240
|
| Maturity: | March 29, 2019
|
| Coupon: | 0%
|
| Price: | Par of $10
|
| Payout at maturity: | If basket return is positive, par plus 300% of basket return, subject to 18.78% maximum return; if basket return is negative, one-to-one exposure to decline
|
| Initial index levels: | 3,630.15 for Euro Stoxx 50; 7,615.84 for FTSE 100; 23,669.49 for Nikkei; 9,482.96 for Swiss Market; 6,050.023 for S&P/ASX; 32,654.45 for Hang Seng
|
| Final basket level: | Average of basket’s closing levels on five trading days ending March 26, 2019
|
| Pricing date: | Jan. 25
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| Settlement date: | Feb. 1
|
| Underwriter: | BofA Merrill Lynch
|
| Fees: | 2%
|
| Cusip: | 064161680
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