Published on 12/29/2023 in the Prospect News Structured Products Daily.
New Issue: Scotia prices $6.35 million Accelerated Return Notes tied to S&P, Russell, Nasdaq
By William Gullotti
Buffalo, N.Y., Dec. 29 – Bank of Nova Scotia priced $6.35 million of 0% Accelerated Return Notes due Dec. 21, 2026 linked to the performance of the S&P 500 index, the Russell 2000 index and the Nasdaq-100 index, according to a 424B2 filing with the Securities and Exchange Commission.
If the best-performing index gains, the payout at maturity will be par plus 200% of the gain of that index, capped at par plus 25.86%.
Otherwise, investors will be fully exposed to any decline of the best-performing index.
BofA Securities, Inc. is the underwriter.
Issuer: | Bank of Nova Scotia
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Issue: | Accelerated Return Notes
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Underlying indexes: | S&P 500 index, Russell 2000 index, Nasdaq-100 index
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Amount: | $6,351,770
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Maturity: | Dec. 21, 2026
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Coupon: | 0%
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Price: | Par of $10
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Payout at maturity: | Par plus 200% of any gain in best-performing index, up to a maximum return of par plus 25.86%; otherwise, lose 1% for every 1% decline of best-performing index from initial level
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Initial levels: | 4,746.75 for S&P, 2,017.065 for Russell, 16,757.41 for Nasdaq
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Pricing date: | Dec. 21
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Settlement date: | Dec. 29
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Underwriter: | BofA Securities, Inc.
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Fees: | 2.25%
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Cusip: | 06418J309
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