Published on 12/21/2021 in the Prospect News Structured Products Daily.
New Issue: Scotia sells $6.84 million capped buffered enhanced participation notes on S&P 500
By William Gullotti
Buffalo, N.Y., Dec. 21 – Bank of Nova Scotia priced $6.84 million of 0% capped buffered enhanced participation notes due Dec. 13, 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 greater than the initial level, the payout at maturity will be par plus 110% of the index return, subject to a maximum settlement amount of $1,223.30 per $1,000 principal amount of notes.
Investors will receive par if the index finishes flat or falls by up to 15% and will lose 1.1765% for each 1% index 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
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Amount: | $6,841,000
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Maturity: | Dec. 13, 2023
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Coupon: | 0%
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Price: | Par
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Payout at maturity: | Par plus 110% of any index gain, up to maximum payout of $1,223.30 per $1,000 principal amount of notes; par if index finishes flat or falls by up to 15%; 1.1765% loss for each 1% index decline beyond 15%
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Initial index level: | 4,567.0
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Buffer level: | 85% of initial level
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Pricing date: | Nov. 30
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Settlement date: | Dec. 7
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Agent: | Scotia Capital (USA) Inc.
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Fees: | None
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Cusip: | 0641596A9
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