Published on 1/3/2023 in the Prospect News Structured Products Daily.
New Issue: Scotiabank prices $7.96 million market-linked one look notes on VanEck Gold ETF
By William Gullotti
Buffalo, N.Y., Jan. 3 – Bank of Nova Scotia priced $7.96 million of 0% market-linked one look notes due Jan. 2, 2024 linked to the VanEck Vectors Gold Miners ETF, according to a 424B2 filing with the Securities and Exchange Commission.
If the ETF finishes flat or gains, the payout at maturity will be par plus 34.1%. Otherwise, investors will be fully exposed to any ETF decline.
BofA Securities, Inc. is the agent.
| Issuer: | Bank of Nova Scotia
|
| Issue: | Market-linked one look notes
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| Underlying fund: | VanEck Vectors Gold Miners ETF
|
| Amount: | $7,963,110
|
| Maturity: | Jan. 2, 2024
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| Coupon: | 0%
|
| Price: | Par of $10
|
| Payout at maturity: | Par plus 34.1% unless ETF finishes below its initial price, in which case full exposure to losses
|
| Initial price: | $28.76
|
| Pricing date: | Dec. 22
|
| Settlement date: | Dec. 30
|
| Underwriter: | BofA Securities, Inc.
|
| Fees: | 1.5%
|
| Cusip: | 06418D401
|
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