Published on 3/8/2022 in the Prospect News Structured Products Daily.
New Issue: Scotia prices $6.3 million accelerated return notes linked to basket of three stocks
By William Gullotti
Buffalo, N.Y., March 8 – Bank of Nova Scotia priced $6.3 million of 0% Accelerated Return Notes due May 26, 2023 linked to a stock basket, according to a 424B2 filing with the Securities and Exchange Commission.
The basket consists of the common stocks of L3Harris Technologies, Inc. with a weight of 33.34%, Raytheon Technologies Corp. with a weight of 33.33% and Honeywell International Inc. with a weight of 33.33%.
The payout at maturity will be par of $10 plus triple any basket gain, up to a maximum return of 18%. Investors will be exposed to any basket decline.
BofA Securities, Inc. is the underwriter.
Issuer: | Bank of Nova Scotia
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Issue: | Accelerated Return Notes
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Underlying stocks: | L3Harris Technologies, Inc. (33.34% weight), Raytheon Technologies Corp. (33.33% weight) and Honeywell International Inc. (33.33% weight)
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Amount: | $6,299,410
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Maturity: | May 26, 2023
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Coupon: | 0%
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Price: | Par of $10
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Payout at maturity: | Par plus triple any basket gain, up to a maximum return of 18%; lose 1% for every 1% of basket decline from initial level
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Initial stock levels: | $255.48 for L3Harris, $99.83 for Raytheon, $187.52 for Honeywell
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Pricing date: | March 3
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Settlement date: | March 10
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Underwriter: | BofA Securities, Inc.
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Fees: | 1.75%
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Cusip: | 06417X218
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