Published on 10/26/2023 in the Prospect News Structured Products Daily.
New Issue: Scotia prices $2.51 million PLUS linked to Russell 2000
Chicago, Oct. 26 – Bank of Nova Scotia priced $2.51 million of 0% PLUS due Feb. 5, 2025 linked to the Russell 2000 index, according to a 424B2 filing with the Securities and Exchange Commission.
If the index return is positive, the payout at maturity will be par plus 300% of the index return subject to a maximum return of par plus 22.2%. Investors will lose 1% for every 1% that it declines.
Scotia Capital Inc. is the agent. Morgan Stanley Wealth Management is the underwriter.
Issuer: | Bank of Nova Scotia
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Issue: | PLUS
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Underlying index: | Russell 2000 index
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Amount: | $2,509,000
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Maturity: | Feb. 5, 2025
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Coupon: | 0%
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Price: | Par
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Payout at maturity: | If index return is positive, par plus 300% of index return subject to a maximum return of par plus 22.2%; 1% loss for every 1% that index declines
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Initial level: | 1,728.809
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Upside leverage: | 300%
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Cap: | 22.2%
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Pricing date: | Oct. 18
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Settlement date: | Oct. 23
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Agent: | Scotia Capital Inc.
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Underwriter: | Morgan Stanley Wealth Management
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Fees: | 2.25%
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Cusip: | 06417YVF3
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