By William Gullotti
Buffalo, N.Y., Jan. 25 – Bank of Nova Scotia sold $1 million of 0% capped buffered return enhanced notes due July 26, 2024 linked to the iShares Semiconductor ETF, according to a 424B2 filing with the Securities and Exchange Commission.
The payout at maturity will be par plus 300% of any ETF gain, subject to a maximum payout of par plus 33.3%.
Investors will receive par if the ETF falls by up to 10% and will lose 1.1111% for every 1% decline beyond 10%.
Scotia Capital (USA) Inc. is the underwriter. J.P. Morgan Securities LLC is the placement agent.
| Issuer: | Bank of Nova Scotia
|
| Issue: | Capped buffered return enhanced notes
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| Underlying fund: | iShares Semiconductor ETF
|
| Amount: | $1 million
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| Maturity: | July 26, 2024
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| Coupon: | 0%
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| Price: | Par
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| Payout at maturity: | Par plus 300% of any ETF gain, capped at par plus 33.3%; par if ETF falls by up to 10%; otherwise, 1.1111% loss for every 1% decline beyond 10%
|
| Initial ETF price: | $373.83
|
| Buffer price: | $336.45; 90% of initial price
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| Strike date: | Jan. 19
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| Pricing date: | Jan. 23
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| Settlement date: | Jan. 26
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| Underwriter: | Scotia Capital (USA) Inc.
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| Placement agent: | J.P. Morgan Securities LLC
|
| Fees: | 1.25%
|
| Cusip: | 06417YDM8
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