Published on 4/9/2024 in the Prospect News Structured Products Daily.
New Issue: Scotia prices $21.51 million Trigger PLUS linked to Russell 2000
New York, April 9 – Bank of Nova Scotia priced $21.51 million of 0% Trigger PLUS due Oct. 8, 2026 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 150% of the index return subject to a maximum return of par plus 41.5%. Investors will receive par if the index return is negative but ends at or above the 90% trigger and will lose 1% for every 1% decline if it ends below the trigger level.
Scotia Capital is the agent.
Issuer: | Bank of Nova Scotia
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Issue: | Trigger PLUS
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Underlying index: | Russell 2000 index
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Amount: | $21,505,000
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Maturity: | Oct. 8, 2026
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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 150% of index return subject to a maximum return of par plus 41.5%; par if index declines but finishes at or above trigger level; 1% loss for every 1% that index declines if it finishes below trigger level
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Initial level: | 2,053.828
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Trigger level: | 1,848.4452, 90% of initial level
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Upside leverage: | 150%
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Cap: | 41.5%
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Pricing date: | April 4
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Settlement date: | April 9
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Agent: | Scotia Capital
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Fees: | 3%
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Cusip: | 06417Y2K4
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