Published on 4/2/2019 in the Prospect News Structured Products Daily.
New Issue: Scotiabank prices $42.56 million leveraged notes linked to index basket
By Marisa Wong
Morgantown, W.Va., April 2 – Bank of Nova Scotia priced $42.56 million of 0% notes due March 25, 2022 linked to an international equity index basket, 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.
The payout at maturity will be par of $10 plus 1.435 times any basket gain.
If the basket falls by up to 15%, the payout will be par plus the absolute value of the basket return. Investors will be exposed to any basket decline beyond 15%.
BofA Merrill Lynch is the underwriter.
| Issuer: | Bank of Nova Scotia
|
| Issue: | Notes
|
| Underlying basket: | Euro Stoxx 50 index with a 40% weight, FTSE 100 index with a 20% weight, Nikkei Stock Average index with a 20% weight, Swiss Market index with a 7.5% weight, S&P/ASX 200 index with a 7.5% weight and Hang Seng index with a 5% weight
|
| Amount: | $42,561,060
|
| Maturity: | March 25, 2022
|
| Coupon: | 0%
|
| Price: | Par of $10
|
| Payout at maturity: | Par plus 143.5% of any basket gain; par plus absolute value of basket return if basket falls by up to 15%; exposure to any basket decline beyond 15%
|
| Initial index levels: | 3,320.29 for Euro Stoxx, 7,234.33 for FTSE, 21,033.76 for Nikkei, 9,405.93 for Swiss Market, 6,176.078 for S&P/ASX, 28,775.21 for Hang Seng
|
| Final basket level: | Average of basket closing levels on five trading days ending March 22, 2022
|
| Pricing date: | March 28
|
| Settlement date: | April 4
|
| Underwriter: | BofA Merrill Lynch
|
| Fees: | 2.25%
|
| Cusip: | 06417P488
|
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