Published on 8/30/2021 in the Prospect News Structured Products Daily.
New Issue: Scotiabank sells $8 million digital notes linked to S&P 500 index
By Taylor Fox
New York, Aug. 30 – Bank of Nova Scotia priced $8 million of 0% digital notes due Oct. 21, 2022 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 87.5% of the initial level, the payout at maturity will be par plus 11.65%.
Investors will lose 1.1429% for each 1% index decline beyond 12.5%.
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: | $7,996,000
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Maturity: | Oct. 21, 2022
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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 87.5% of initial level, par plus 11.65%; otherwise, 1.1429% loss for each 1% index decline beyond 12.5%
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Initial level: | 3,925.43
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Threshold level: | 87.5% of the initial level
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Pricing date: | Feb. 24
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Settlement date: | March 3
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Agent: | Scotia Capital (USA) Inc.
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Fees: | None
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Cusip: | 064159S72
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