Published on 5/2/2017 in the Prospect News Structured Products Daily.
New Issue: Scotiabank sells $20.56 million Accelerated Return Notes tied to index basket
By Wendy Van Sickle
Columbus, Ohio, May 2 – Bank of Nova Scotia priced $20.56 million of 0% Accelerated Return Notes due June 29, 2018 linked to a basket of indexes, according to a 424B2 filing with the Securities and Exchange Commission.
The basket components are the Euro Stoxx 50 index with a 40% weight, the FTSE 100 index with a 20% weight, the Nikkei Stock Average index with a 20% weight, the Swiss Market index with a 7.5% weight, the S&P/ASX 200 index with a 7.5% weight and the Hang Seng index with a 5% weight.
The payout at maturity will be par of $10 plus 300% of any basket gain, subject to a maximum return of 18.75%. Investors will be exposed to any basket decline.
BofA Merrill Lynch is the agent.
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 (20% weight), Nikkei Stock Average (20% weight), Swiss Market (7.5% weight), S&P/ASX 200 (7.5% weight) and Hang Seng (5% weight)
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Amount: | $20,555,390
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Maturity: | June 29, 2018
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Coupon: | 0%
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Price: | Par of $10
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Payout at maturity: | Par plus 300% of any basket gain, capped at 18.75%; exposure to any basket decline
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Final index levels: | For each index, average of its closing levels on five trading days ending June 26, 2018
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Pricing date: | April 27
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Settlement date: | May 4
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Agent: | BofA Merrill Lynch
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Fees: | 2%
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Cusip: | 064160393
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