Published on 3/23/2021 in the Prospect News Structured Products Daily.
New Issue: Scotiabank prices $13.73 million capped buffered notes linked to S&P 500
By Wendy Van Sickle
Columbus, Ohio, March 23 – Bank of Nova Scotia priced $13.73 million of 0% capped buffered enhanced notes due May 10, 2023 linked to the S&P 500 index, according to a 424B2 filing with the Securities and Exchange Commission.
The payout at maturity will be par plus the index gain, up to a maximum payment of $1,200 per $1,000 principal amount.
Investors will receive par if the index falls by up to 15% and will lose 1.1765% for each 1% decline beyond 15%.
Scotia Capital (USA) Inc. is the underwriter.
Issuer: | Bank of Nova Scotia
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Issue: | Capped buffered enhanced participation notes
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Underlying index: | S&P 500 index
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Amount: | $13,725,000
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Maturity: | May 10, 2023
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Coupon: | 0%
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Price: | Par
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Payout at maturity: | Par plus any index gain, up to a maximum payment of $1,200 per $1,000 principal amount; par if the index falls by up to 15%; 1.1765% loss for each 1% decline beyond 15%
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Initial index level: | 3,968.94
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Buffer level: | 85% of initial level
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Pricing date: | March 15
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Settlement date: | March 22
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Underwriter: | Scotia Capital (USA) Inc.
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Fees: | 1.55%
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Cusip: | 064159U46
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