By William Gullotti
Buffalo, N.Y., April 25 – Bank of Nova Scotia priced $2.3 million of 0% capped enhanced participation notes due May 11, 2023 linked to the Russell 2000 index, according to a 424B2 filing with the Securities and Exchange Commission.
The payout at maturity will be par plus 300% of any gain in the index up to a maximum payout of par plus 22.35%.
Otherwise, investors will be exposed to any index decline.
Scotia Capital (USA) Inc. is the underwriter with Simon Markets LLC handling distribution.
Issuer: | Bank of Nova Scotia
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Issue: | Capped enhanced participation notes
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Underlying index: | Russell 2000 index
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Amount: | $2.3 million
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Maturity: | May 11, 2023
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Coupon: | 0%
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Price: | Par
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Payout at maturity: | Par plus 300% of any gain in the index up to a maximum payout of par plus 22.35%; otherwise, investors will lose 1% for every 1% decline from initial level
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Initial index level: | 2,096.225
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Buffer level: | 90%
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Pricing date: | Jan. 18
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Settlement date: | Jan. 25
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Agent: | Scotia Capital (USA) Inc. with Simon Markets LLC handling distribution
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Fees: | 1.22%
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Cusip: | 0641596X9
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