Published on 10/30/2018 in the Prospect News Structured Products Daily.
New Issue: Scotia prices $55.29 million Mitts linked to Dow Jones industrial average
By Wendy Van Sickle
Columbus, Ohio, Oct. 30 – Bank of Nova Scotia priced $55.29 million of 0% Market Index Target-Term Securities due Oct. 25, 2024 linked to the Dow Jones industrial average, according to a 424B2 filing with the Securities and Exchange Commission.
If the index return is positive, the payout at maturity will be par of $10 plus the index return, subject to a maximum return of 61%. If the index return is zero or negative, the payout will be par.
BofA Merrill Lynch is the underwriter.
Issuer: | Bank of Nova Scotia
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Issue: | Market Index Target-Term Securities
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Underlying: | Dow Jones industrial average
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Amount: | $55,287,750
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Maturity: | Oct. 25, 2024
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Coupon: | 0%
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Price: | Par of $10
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Payout at maturity: | If index return is positive, par plus index return, subject to 61% maximum return; if index return is zero or negative, par
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Initial index level: | 24,984.55
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Final index level: | Average of index’s closing levels on five trading days ending Oct. 24, 2024
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Pricing date: | Oct. 25
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Settlement date: | Nov. 1
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Underwriter: | BofA Merrill Lynch
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Fees: | 2.5%
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Cusip: | 06417P819
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