Published on 4/13/2021 in the Prospect News Structured Products Daily.
New Issue: Scotiabank sells $1.85 million digital notes linked to S&P 500 index
By Kiku Steinfeld
Chicago, April 13 – Bank of Nova Scotia priced $1.85 million of 0% digital notes due May 17, 2023 linked to the S&P 500 index, according to a 424B2 filing with the Securities and Exchange Commission.
If the final index level is at least 85% of the initial level, the payout at maturity will be par plus 12.6%.
Investors will lose 1.1765% for each 1% index decline beyond 15%.
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: | S&P 500
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Amount: | $1,853,000
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Maturity: | May 17, 2023
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Coupon: | 0%
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Price: | Par
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Payout at maturity: | If final level is at least 85% of initial level, par plus 12.6%; otherwise, 1.1765% loss for each 1% index decline beyond 15%
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Initial level: | 3,909.52
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Threshold level: | 85% of the initial level
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Pricing date: | March 25
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Settlement date: | April 1
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Agent: | Scotia Capital (USA) Inc.
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Fees: | None
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Cusip: | 064159V29
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