By Marisa Wong
Morgantown, W.Va., May 1 – Bank of Nova Scotia priced $9.43 million of 0% autocallable market-linked step-up notes due April 29, 2021 linked to the Nikkei Stock Average index, according to a 424B2 filing with the Securities and Exchange Commission.
If the index closes at or above its initial level on an annual observation date, the notes will be called at par plus a premium of 12.5% a year.
If the index finishes above the step-up level – 130% of the initial level – the payout at maturity will be par of $10 plus the index gain.
If the index gains by up to the step-up level, the payout will be par plus the step-up payment of 30%.
Investors will be fully exposed to any index decline.
BofA Merrill Lynch is the agent.
| Issuer: | Bank of Nova Scotia
|
| Issue: | Autocallable market-linked step-up notes
|
| Underlying index: | Nikkei Stock Average index
|
| Amount: | $9,430,510
|
| Maturity: | April 29, 2021
|
| Coupon: | 0%
|
| Price: | Par of $10
|
| Call: | At par plus 12.5% a year premium if index closes at or above initial level on an annual observation date
|
| Payout at maturity: | If the index finishes above the step-up level, par plus the index gain; if the index gains up to the step-up level, par plus 30%; full exposure to losses
|
| Initial index level: | 22,319.61
|
| Step-up value: | 29,015.49, 130% of initial level
|
| Pricing date: | April 26
|
| Settlement date: | May 3
|
| Agent: | BofA Merrill Lynch
|
| Fees: | 2%
|
| Cusip: | 064161490
|
|
|
© 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.
