Published on 3/30/2022 in the Prospect News Structured Products Daily.
New Issue: Scotia prices $2.84 million trigger gears linked to S&P 500
By William Gullotti
Buffalo, N.Y., March 30 – Bank of Nova Scotia priced $2.84 million of 0% trigger gears due March 31, 2027 linked to the S&P 500 index, according to a 424B2 filing with the Securities and Exchange Commission.
If the index return is greater than zero, the payout at maturity will be par of $10 plus 1.295 times the return. Investors will receive par if the index declines by 20% or less and will be fully exposed to the index’s decline from its initial level if it declines by more than 20%.
Scotia Capital (USA) Inc. and UBS Financial Services Inc. are the agents.
Issuer: | Bank of Nova Scotia
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Issue: | Trigger gears
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Underlying index: | S&P 500
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Amount: | $2,843,560
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Maturity: | March 31, 2027
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Coupon: | 0%
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Price: | Par of $10
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Payout at maturity: | Par plus 1.295 times any gain; par if index declines but final index level is greater than or equal to downside threshold; otherwise, full exposure to index’s decline from initial level
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Initial index level: | 4,575.52
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Downside threshold: | 3,660.42; 80% of initial level
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Pricing date: | March 28
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Settlement date: | March 31
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Agents: | Scotia Capital (USA) Inc. and UBS Financial Services Inc.
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Fees: | None
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Cusip: | 06417U123
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