Published on 9/28/2021 in the Prospect News Structured Products Daily.
New Issue: Scotia prices $23.02 million accelerated return notes linked to index basket
By Wendy Van Sickle
Columbus, Ohio, Sept. 28 – Bank of Nova Scotia priced $23.02 million of 0% Accelerated Return Notes due Nov. 25, 2022 linked to an international equity index basket, according to a 424B2 filing with the Securities and Exchange Commission.
The basket consists of the Euro Stoxx 50 index with a weight of 40%, the FTSE 100 index and the Nikkei 225 index each with a weight of 20%, the Swiss Market index and the S&P/ASX 200 index each with a weight of 7.5% and the FTSE China 50 index with a weight of 5%.
The payout at maturity will be par of $10 plus triple any basket gain, up to a maximum return of 14.72%. Investors will be exposed to any basket decline.
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: | Euro Stoxx 50 (40% weight), FTSE 100 and Nikkei Stock (20% weight each), Swiss Market and S&P/ASX 200 (7.5% weight each) and FTSE China 50 (5% weight)
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Amount: | $23,020,660
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Maturity: | Nov. 25, 2022
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Coupon: | 0%
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Price: | Par of $10
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Payout at maturity: | Par plus triple any basket gain, up to a maximum return of 14.72%; investors will be exposed to any basket decline
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Initial index levels: | 4,194.92 for Stoxx, 7,078.35 for FTSE, 30,248.81 for Nikkei, 11,938.62 for Swiss, 7,370.217 for S&P/ASX, 17,348.38 for FTSE China 50
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Final level: | Average of index’s closing levels on five trading days ending Nov. 21, 2022
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Pricing date: | Sept. 23
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Settlement date: | Sept. 30
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Underwriter: | BofA Securities, Inc.
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Fees: | 1.75%
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Cusip: | 06417X796
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