Published on 12/6/2023 in the Prospect News Structured Products Daily.
New Issue: Scotia prices $9.03 million Trigger PLUS linked to S&P 500
New York, Dec. 6 – Bank of Nova Scotia priced $9.03 million of 0% Trigger PLUS due Dec. 5, 2029 linked to the S&P 500 index, according to a 424B2 filing with the Securities and Exchange Commission.
If the index return is positive, the payout at maturity will be par plus 124% of the index return. Investors will receive par if the index return is negative but ends at or above the 75% trigger and will lose 1% for every 1% decline if it ends below the trigger level.
Morgan Stanley Smith Barney LLC is the underwriter and structurer. Scotia Capital (USA) Inc. is the agent.
Issuer: | Bank of Nova Scotia
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Issue: | Trigger PLUS
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Underlying index: | S&P 500 index
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Amount: | $9,028,000
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Maturity: | Dec. 5, 2029
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Coupon: | 0%
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Price: | Par
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Payout at maturity: | If index return is positive, par plus 124% of index return; par if index declines but finishes at or above trigger level; 1% loss for every 1% that index declines if it finishes below trigger level
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Initial level: | 4,567.80
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Trigger level: | 3,425.85, 75% of initial level
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Upside leverage: | 124%
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Cap: | None
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Pricing date: | Nov. 30
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Settlement date: | Dec. 5
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Underwriter: | Morgan Stanley Smith Barney LLC
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Agent: | Scotia Capital (USA) Inc.
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Fees: | 3.5%
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Cusip: | 06417YC64
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