Published on 5/29/2019 in the Prospect News Structured Products Daily.
New Issue: Scotiabank sells $17.12 million capped buffered enhanced participation notes on basket
By Sarah Lizee
Olympia, Wash., May 29 – Bank of Nova Scotia priced $17.12 million of 0% capped buffered enhanced participation notes due March 24, 2023 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 36% weight, the Topix index with a 27% weight, the FTSE 100 index with a 19% weight, the Swiss Market index with a 10% weight and the S&P/ASX 200 index with an 8% weight.
If the basket return is positive, the payout at maturity will be par plus 3 times the basket return, subject to a maximum settlement amount of $1,732 per $1,000 of notes. Investors will receive par if the basket declines by 15% or less and will lose 1.1765% for every 1% that it declines beyond 15%.
Scotia Capital (USA) Inc. is the agent, with Goldman Sachs & Co. LLC as dealer.
Issuer: | Bank of Nova Scotia
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Issue: | Capped buffered enhanced participation notes
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Underlying indexes: | Euro Stoxx 50 (36% weight), Topix (27% weight), FTSE 100 (19% weight), Swiss Market (10% weight) and S&P/ASX 200 (8% weight)
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Amount: | $17,118,000
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Maturity: | March 24, 2023
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Coupon: | 0%
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Price: | Par
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Payout at maturity: | If basket return is positive, par plus 3 times basket return, capped at $1,732 per $1,000 of notes; par if basket declines by 15% or less; 1.1765% loss for every 1% that it declines beyond 15%
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Initial levels: | 3,386.51 for Euro Stoxx, 1,550.30 for Topix, 7,328.92 for FTSE, 9,624.16 for Swiss Market, 6,500.141 for S&P/ASX
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Pricing date: | May 21
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Settlement date: | May 29
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Agent: | Scotia Capital (USA) Inc., with Goldman Sachs & Co. LLC as dealer
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Fees: | 3.41%
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Cusip: | 064159PD2
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