Published on 6/2/2020 in the Prospect News Structured Products Daily.
New Issue: Scotia sells $58.03 million capped leveraged index return notes on S&P
By Sarah Lizee
Olympia, Wash., June 2 – Bank of Nova Scotia priced $58.03 million of 0% capped leveraged index return notes due May 27, 2022 linked to the S&P 500 index, according to a 424B2 filed with the Securities and Exchange Commission.
The payout at maturity will be par of $10 plus double any index gain, up to a maximum return of 16.01%.
Investors will receive par if the index falls by up to 10% and will lose 1% for every 1% decline beyond 10%.
BofA Securities, Inc. is the agent.
Issuer: | Bank of Nova Scotia
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Issue: | Capped leveraged index return notes
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Underlying index: | S&P 500
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Amount: | $58,032,550
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Maturity: | May 27, 2022
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Coupon: | 0%
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Price: | Par of $10
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Payout at maturity: | Par plus 200% of any index gain, subject to 16.01% maximum return; par if index falls by up to 10%, otherwise 1% loss for every 1% decline beyond 10%
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Initial index level: | 3,029.73
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Buffer level: | 2,726.76, 90% of initial level
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Pricing date: | May 28
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Settlement date: | June 4
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Agent: | BofA Securities, Inc.
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Fees: | 2%
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Cusip: | 06417R666
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