Published on 5/13/2021 in the Prospect News Structured Products Daily.
New Issue: Scotiabank prices $27.14 million capped enhanced participation notes on index basket
By Wendy Van Sickle
Columbus, Ohio, May 13 – Bank of Nova Scotia priced $27.14 million of 0% capped enhanced participation notes due Nov. 3, 2022 linked to an unequally weighted 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 36% weight, the Topix index with a 27% weight, the FTSE 100 index with a 19% weight, the Swiss Market index with a 10% weight and the S&P/ASX 200 index with an 8% weight.
If the basket return is positive, the payout at maturity will be par plus 3 times the basket return, subject to a maximum settlement amount of $1,202.50 per $1,000 of notes. Otherwise, investors will lose 1% for each 1% decline.
Scotia Capital (USA) Inc. is the agent. Goldman Sachs & Co. LLC is the dealer.
Issuer: | Bank of Nova Scotia
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Issue: | Capped enhanced participation notes
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Underlying indexes: | Euro Stoxx 50 (36% weight), Topix (27% weight), FTSE 100 (19% weight), Swiss Market (10% weight) and S&P/ASX 200 (8% weight)
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Amount: | $27.14 million
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Maturity: | Nov. 3, 2022
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Coupon: | 0%
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Price: | Par
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Payout at maturity: | If basket return is positive, par plus 3 times basket return, capped at $1,202.50 per $1,000 of notes; 1% loss for each 1% decline
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Initial levels: | 4,034.25 for Euro Stoxx, 1,933.05 for Topix, 7,129.71 for FTSE, 11,173.57 for Swiss Market, 7,080.828 for S&P/ASX
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Pricing date: | May 7
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Settlement date: | May 14
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Agent: | Scotia Capital (USA) Inc.
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Dealer: | Goldman Sachs & Co. LLC
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Fees: | 1.38%
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Cusip: | 0641593G9
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