Published on 1/30/2018 in the Prospect News Structured Products Daily.
New Issue: Scotiabank prices $49.28 million Accelerated Return Notes on three financial stocks
By Marisa Wong
Morgantown, W.Va., Jan. 30 – Bank of Nova Scotia priced $49,281,650 of 0% Accelerated Return Notes due March 29, 2019 linked to a basket of three common stocks, according to a 424B2 filing with the Securities and Exchange Commission.
The underlying companies are Citigroup Inc., JPMorgan Chase & Co. and Morgan Stanley. Citigroup and JPMorgan will be given an initial weight of 33.33%, and Morgan Stanley will be given an initial weight of 33.34%.
The payout at maturity will be par plus triple any basket gain, up to a capped return of 18.9%.
Investors will be exposed to any losses.
BofA Merrill Lynch is the agent.
| Issuer: | Bank of Nova Scotia
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| Issue: | Accelerated Return Notes
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| Underlying basket: | Citigroup Inc. (Symbol: C), JPMorgan Chase & Co. (Symbol: JPM) and Morgan Stanley (Symbol: MS); Citigroup and JPMorgan have an initial weight of 33.33%, and Morgan Stanley has an initial weight of 33.34%
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| Amount: | $49,281,650
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| Maturity: | March 29, 2019
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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 capped return of 18.9%; investors will be exposed to any losses
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| Initial prices: | $79.44 for Citigroup, $115.70 for JPMorgan, $56.81 for Morgan Stanley
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| Pricing date: | Jan. 25
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| Settlement date: | Feb. 1
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| Underwriter: | BofA Merrill Lynch
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| Fees: | 2%
|
| Cusip: | 064161656
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