Published on 12/13/2019 in the Prospect News Structured Products Daily.
New Issue: Scotiabank prices $5 million buffered digital notes linked to indexes
By Angela McDaniels
Tacoma, Wash., Dec. 13 – Bank of Nova Scotia priced $5 million of 0% buffered digital notes due Jan. 31, 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 final basket level is greater than or equal to the initial basket level, the payout at maturity will be par plus the greater of the basket return and 25%. Investors will receive par if the basket declines by 15% or less and will lose 1.1765% for every 1% that the basket declines beyond 15%.
Scotia Capital (USA) Inc. is the agent. Goldman Sachs & Co. LLC is acting as dealer.
| Issuer: | Bank of Nova Scotia
|
| Issue: | Buffered digital notes
|
| 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)
|
| Amount: | $4,997,000
|
| Maturity: | Jan. 31, 2023
|
| Coupon: | 0%
|
| Price: | Par
|
| Payout at maturity: | If final basket level is greater than or equal to initial basket level, par plus greater of basket return and 25%; par if basket declines by 15% or less; 1.1765% loss for every 1% that basket declines beyond 15%
|
| Initial levels: | 3,712.85 for Euro Stoxx 50, 1,710.98 for Topix, 7,429.78 for FTSE 100, 10,529.26 for Swiss Market and 6,850.601 for S&P/ASX 200
|
| Pricing date: | Nov. 27
|
| Settlement date: | Dec. 5
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| Agent: | Scotia Capital (USA) Inc.
|
| Dealer: | Goldman Sachs & Co. LLC
|
| Fees: | 2.63%
|
| Cusip: | 064159RA6
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