Published on 1/28/2019 in the Prospect News Structured Products Daily.
New Issue: Scotia prices $20.57 million three-year Mitts tied to index basket
By Wendy Van Sickle
Columbus, Ohio, Jan. 28 – Bank of Nova Scotia priced $20.57 million of 0% Market Index Target-Term Securities due Jan. 27, 2023 linked to a basket of indexes, according to a 424B2 filing with the Securities and Exchange Commission.
The basket consists of 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 131.5% of any basket gain.
If the basket falls, the payout will be par.
BofA Merrill Lynch is the underwriter.
Issuer: | Bank of Nova Scotia
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Issue: | Market Index Target-Term Securities
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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: | $20,570,530
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Maturity: | Jan. 27, 2023
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Coupon: | 0%
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Price: | Par of $10
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Payout at maturity: | If basket gains, par plus 131.5% of return; par if basket falls or is flat
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Initial index levels: | 3,126.31 for Stoxx, 6,818.95 for FTSE, 20,574.63 for Nikkei, 8,937.39 for Swiss, 5,865.692 for S&P/ASX, 27,120.98 for Hang Seng
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Pricing date: | Jan. 24
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Settlement date: | Jan. 31
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Underwriter: | BofA Merrill Lynch
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Fees: | 2.5%
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Cusip: | 06417P538
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