Published on 4/12/2019 in the Prospect News Structured Products Daily.
New Issue: Scotiabank sells $11.37 million Leveraged Index Return Notes on index basket
By Marisa Wong
Morgantown, W.Va., April 12 – Bank of Nova Scotia priced $11.37 million of 0% Leveraged Index Return Notes due March 26, 2021 linked to a basket of unequally weighted 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.
The payout at maturity will be par plus 151.2% of any basket gain.
Investors will receive par if the basket declines by up to 10% and will lose 1% for every 1% decline beyond the buffer.
BofA Merrill Lynch is the agent.
Issuer: | Bank of Nova Scotia
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Issue: | Leveraged Index Return Notes
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Underlying basket: | Euro Stoxx 50 index (40% weight), FTSE 100 index (20% weight), Nikkei Stock Average index (20% weight), Swiss Market index (7.5% weight), S&P/ASX 200 index (7.5% weight) and Hang Seng index (5% weight)
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Amount: | $11,374,780
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Maturity: | March 26, 2021
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Coupon: | 0%
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Price: | Par of $10
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Payout at maturity: | Par plus 151.2% of any basket gain; par if the basket declines by up to 10%; 1% loss for every 1% decline beyond the buffer
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Initial index levels: | 3,320.29 for Stoxx, 7,234.33 for FTSE, 21,033.76 for Nikkei, 9,405.93 for Swiss, 6,176.078 for S&P/ASX, 28,775.21 for Hang Seng
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Final basket level: | Average of basket closing levels on five trading days ending March 23, 2021
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Pricing date: | March 28
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Settlement date: | April 4
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Agent: | BofA Merrill Lynch
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Fees: | 2%
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Cusip: | 06417P496
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