Published on 2/7/2024 in the Prospect News Structured Products Daily.
New Issue: Scotiabank prices $5.19 million digital notes linked to Russell 2000
By Wendy Van Sickle
Columbus, Ohio, Feb. 7 – Bank of Nova Scotia priced $5.19 million of 0% digital notes due Feb. 5, 2026 linked to the Russell 2000 index, according to a 424B2 filing with the Securities and Exchange Commission.
If the index finishes at or above its 90% threshold level, the payout at maturity will be $1,198.80 per $1,000 principal amount of notes.
Otherwise, investors will lose 1.1111% for each 1% decline beyond 10%.
Scotia Capital (USA) Inc. is the agent.
Issuer: | Bank of Nova Scotia
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Issue: | Digital notes
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Underlying index: | Russell 2000 index
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Amount: | $5.19 million
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Maturity: | Feb. 5, 2026
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Coupon: | 0%
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Price: | Par
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Payout at maturity: | If the index finishes at or above threshold level, $1,198.80 per $1,000 principal amount; otherwise, 1.1111% loss for each 1% decline beyond 10%
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Initial index level: | 1,974.419
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Threshold value: | 90% of initial level
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Pricing date: | Feb. 1
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Settlement date: | Feb. 8
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Agent: | Scotia Capital (USA) Inc.
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Fees: | 2.4%
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Cusip: | 06417YJ67
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