Published on 10/10/2019 in the Prospect News Structured Products Daily.
New Issue: Scotiabank prices $21.53 million leveraged return notes with absolute return buffer on basket
By Kiku Steinfeld
Chicago, Oct. 10 – Bank of Nova Scotia prices $21.53 million of 0% leveraged index return notes with absolute return buffer due Sept. 30, 2022 linked to a basket of indexes, according to an FWP 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 finishes at or above the initial level, the payout at maturity will be par of $10 plus 121.15% of the gain.
If the basket falls by up to 15%, the payout at maturity will be par plus the absolute value of the basket decline.
If the basket falls by more than 15%, investors will be exposed to any losses beyond the buffer.
BofA Securities, Inc. is the agent.
| Issuer: | Bank of Nova Scotia
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| Issue: | Leveraged index return notes with absolute return buffer
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| Underlying indexes: | Euro Stoxx 50 (40% weight), FTSE 100 and Nikkei Stock (20% weight each), Swiss Market and S&P/ASX 200 (7.5% weight each) and Hang Seng (5% weight)
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| Amount: | $21,525,230
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| Maturity: | Sept. 30, 2022
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| Coupon: | 0%
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| Price: | Par of $10
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| Payout at maturity: | Par plus 121.15% of any basket gain; par if basket falls by up to 15%; 1% loss for every 1% decline beyond 15%
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| Initial levels: | 3,532.18 for Stoxx, 7,351.08 for FTSE, 22,048.24 for Nikkei, 10,010.71 for Swiss, 6,677.581 for S&P/ASX, 26,041.93 for Hang Seng
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| Pricing date: | Sept. 26
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| Settlement date: | Oct. 3
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| Agent: | BofA Merrill Lynch
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| Fees: | 2.25%
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| Cusip: | 06417Q783
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