By Wendy Van Sickle
Columbus, Ohio, March 10 – Bank of Nova Scotia priced $1.18 million of 0% market-linked autocallable securities with fixed percentage buffered downside due March 6, 2023 linked to the VanEck Vectors Oil Services exchange-traded fund, according to a 424B2 filing with the Securities and Exchange Commission.
The notes will be automatically called at par plus a fixed call premium of 13% per year if the fund closes at or above the initial fund level on any of three annual call observation dates.
The payout at maturity will be par unless the fund falls by more than 15% in which case investors will be exposed to losses beyond the 15% buffer.
Scotia Capital Inc. (USA) is the agent and Wells Fargo Securities, LLC is the dealer.
| Issuer: | Bank of Nova Scotia
|
| Issue: | Market-linked autocallable securities with fixed-percentage buffered downside
|
| Underlying fund: | VanEck Vectors Oil Services ETF
|
| Amount: | $1,175,000
|
| Maturity: | March 6, 2023
|
| Coupon: | 0%
|
| Price: | Par
|
| Payout at maturity: | Par unless fund falls by more than 15% in which case exposure to losses beyond 15%
|
| Call: | Automatically at par plus 13% per year fixed call premium if the fund closes at or above the initial fund level on any of three annual call observation dates
|
| Initial level: | $8.98
|
| Threshold level: | $7.633, 85% of initial level
|
| Pricing date: | Feb. 28
|
| Settlement date: | March 4
|
| Underwriter: | Scotia Capital (USA) Inc.
|
| Dealer: | Wells Fargo Securities, LLC
|
| Fees: | 3.15%
|
| Cusip: | 064159SQ0
|
|
|
|
|
© 2015 Prospect News.
All content on this website is protected by copyright law in the U.S. and elsewhere.
For the use of the person downloading only.
Redistribution and copying are prohibited by law without written permission in advance from Prospect News.
Redistribution or copying includes e-mailing, printing multiple copies or any other form of reproduction.
