By Angela McDaniels
Tacoma, Wash., May 1 – Bank of Nova Scotia priced $6.51 million of 0% leveraged market-linked step-up notes due April 24, 2020 linked to a basket of indexes, according to a 424B2 filing with the Securities and Exchange Commission.
The basket consists of the S&P 500 index with a 40% weight, the Euro Stoxx 50 index with a 30% weight and the MSCI EAFE index with a 30% weight.
If the final basket level is greater than or equal to the step-up value, 118% of the initial level, the payout at maturity will be par of $10 plus 137% of the basket return.
If the final basket level is greater than or equal to the initial level but less than the step-up value, the payout will be par plus 18%.
If the final basket level is less than the initial basket level, investors will have one-to-one exposure to the decline.
BofA Merrill Lynch is the agent.
| Issuer: | Bank of Nova Scotia
|
| Issue: | Leveraged market-linked step-up notes
|
| Underlying indexes: | S&P 500 (40% weight), Euro Stoxx 50 (30% weight) and MSCI EAFE (30% weight)
|
| Amount: | $6,510,670
|
| Maturity: | April 24, 2020
|
| Coupon: | 0%
|
| Price: | Par of $10
|
| Payout at maturity: | If final basket level is greater than or equal to step-up value, par plus 137% of basket return; if final basket level is greater than or equal to initial level but less than step-up value, par plus 18%; if final basket level is less than initial basket level, one-to-one exposure to decline
|
| Initial index levels: | 2,388.77 for S&P 500, 3,563.29 for Euro Stoxx 50 and 1,835.96 for MSCI EAFE
|
| Step-up value: | 118% of initial basket level
|
| Pricing date: | April 27
|
| Settlement date: | May 4
|
| Agent: | BofA Merrill Lynch
|
| Fees: | 2.25% plus 0.75% hedging-related charge
|
| Cusip: | 064160294
|
© 2015 Prospect News.
All content on this website is protected by copyright law in the U.S. and elsewhere.
For the use of the person downloading only.
Redistribution and copying are prohibited by law without written permission in advance from Prospect News.
Redistribution or copying includes e-mailing, printing multiple copies or any other form of reproduction.
