Published on 9/30/2022 in the Prospect News Structured Products Daily.
New Issue: Scotia prices $2.15 million trigger step securities tied to S&P 500
By William Gullotti
Buffalo, N.Y., Sept. 30 – Bank of Nova Scotia priced $2.15 million of 0% trigger step securities due Sept. 30, 2027 linked to the S&P 500 index, according to a 424B2 filing with the Securities and Exchange Commission.
If the index return is zero or positive, the payout at maturity will be par of $10 plus the greater of the index return and the step return of 52.25%.
Investors will receive par if the index declines by 25% or less and will lose 1% for each 1% decline from its initial level if the index falls more than 25%.
Scotia Capital (USA) Inc. and UBS Financial Services Inc. are the agents.
Issuer: | Bank of Nova Scotia
|
Issue: | Trigger step securities
|
Underlying index: | S&P 500 index
|
Amount: | $2,146,110
|
Maturity: | Sept. 30, 2027
|
Coupon: | 0%
|
Price: | Par of $10
|
Payout at maturity: | If index return is zero or positive, par plus greater of 52.25% and return; par if index declines by up to 25%; otherwise, 1% loss for each 1% that the final level of the index is less than its initial level
|
Initial level: | 3,647.29
|
Downside threshold: | 2,735.47; 75% of initial level
|
Pricing date: | Sept. 27
|
Settlement date: | Sept. 30
|
Agents: | Scotia Capital (USA) Inc. and UBS Financial Services Inc.
|
Fees: | None
|
Cusip: | 06417U453
|
|
© 2015 Prospect News.
All content on this website is protected by copyright law in the U.S. and elsewhere.
For the use of the person downloading only.
Redistribution and copying are prohibited by law without written permission in advance from Prospect News.
Redistribution or copying includes e-mailing, printing multiple copies or any other form of reproduction.