New Issue: Scotiabank sells $20.78 million Leveraged Index Return Notes on S&P 500

By Marisa Wong

Morgantown, W.Va., Nov. 9 – Bank of Nova Scotia priced $20.78 million of 0% Leveraged Index Return Notes due Oct. 30, 2020 linked to the S&P 500 index, according to a 424B5 filing with the Securities and Exchange Commission.

If the index return is positive, the payout at maturity will be par of $10 plus 107% of the index return. Investors will receive par if the index falls by up to 20% and will be exposed to any losses beyond the 20% buffer.

The final index level will be the average of the closing index levels on the five trading days ending Oct. 27, 2020.

BofA Merrill Lynch is the underwriter.

Issuer:	Bank of Nova Scotia
Issue:	Leveraged Index Return Notes
Underlying index:	S&P 500 index
Amount:	$20,781,810
Maturity:	Oct. 30, 2020
Coupon:	0%
Price:	Par of $10
Payout at maturity:	Par plus 107% of any index gain; par if index falls by up to 20%; exposure to any losses beyond 20%
Initial level:	2,089.41
Buffer level:	1,671.53, 80% of initial level
Pricing date:	Oct. 29
Settlement date:	Nov. 5
Agent:	BofA Merrill Lynch
Fees:	2.5%
Cusip:	064160104

© 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.