Published on 4/24/2014 in the Prospect News Structured Products Daily.
New Issue: Scotiabank sells $5.38 million capped buffered notes tied to MSCI EAFE
By Marisa Wong
Madison, Wis., April 24 - Bank of Nova Scotia priced $5.38 million of 0% capped buffered notes due April 27, 2016 linked to the MSCI EAFE index, according to a 424B2 filing with the Securities and Exchange Commission.
The payout at maturity will be par plus 125% of any gain in the index, up to a maximum settlement amount of $1,186.25 per $1,000 principal amount.
Investors will receive par if the index falls by up to 10% and will lose 1.1111% for each 1% decline beyond 10%.
Scotia Capital (USA) Inc. is the underwriter with Goldman Sachs & Co. as dealer.
Issuer: | Bank of Nova Scotia
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Issue: | Capped buffered notes
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Underlying index: | MSCI EAFE index
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Amount: | $5,375,000
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Maturity: | April 27, 2016
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Coupon: | 0%
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Price: | Par
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Payout at maturity: | Par plus 125% of any index gain, capped at 18.625%; par if index falls by up to 10%; 1.1111% loss per 1% drop beyond 10%
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Initial level: | 1,927.00
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Buffer level: | 1,734.30, 90% of initial level
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Pricing date: | April 22
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Settlement date: | April 29
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Underwriter: | Scotia Capital (USA) Inc.
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Dealer: | Goldman Sachs & Co.
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Fees: | 1.75%
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Cusip: | 064159239
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