By William Gullotti
Buffalo, N.Y., June 22 – Bank of Nova Scotia priced $5.09 million of 0% trigger autocallable notes due June 20, 2025 linked to the S&P 500 index, according to a 424B2 filing with the Securities and Exchange Commission.
The notes will be called at par of $10 plus a 9.06% annualized call premium if the index closes at or above its initial level on any quarterly observation date after six months.
The payout at maturity will be par plus 18.12%, the call premium for the final valuation date, if the index finishes at or above its initial level.
Investors will receive par if the index declines but finishes at or above the 70% downside threshold level and be fully exposed to index decline if it finishes below the downside threshold.
UBS Financial Services Inc. and Scotia Capital (USA) Inc. are the agents.
| Issuer: | Bank of Nova Scotia
|
| Issue: | Trigger autocallable notes
|
| Underlying index: | S&P 500 index
|
| Amount: | $5,094,190
|
| Maturity: | June 20, 2025
|
| Coupon: | 0%
|
| Price: | Par of $10
|
| Payout at maturity: | Par plus 18.12% if the index finishes at or above initial level; par if index declines but finishes at or above downside threshold; otherwise, 1% loss for each 1% decline from initial level
|
| Call: | At par plus a 9.06% annualized call premium if the index closes at or above initial level on any quarterly observation date after six months
|
| Initial index level: | 4,425.84
|
| Downside threshold: | 3,098.09; 70% of initial level
|
| Pricing date: | June 15
|
| Settlement date: | June 21
|
| Agents: | UBS Financial Services Inc. and Scotia Capital (USA) Inc.
|
| Fees: | 1.5%
|
| Cusip: | 06418E235
|
|
|
© 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.
