Published on 3/29/2017 in the Prospect News Structured Products Daily.
New Issue: Scotiabank prices $8.95 million capped buffered enhanced notes on basket of infrastructure stocks
By Wendy Van Sickle
Columbus, Ohio, March 29 – Bank of Nova Scotia priced $8.95 million of 0% capped buffered enhanced participation notes, series A, due Sept. 27, 2018 linked to a basket of 34 infrastructure stocks, according to a 424B5 filing with the Securities and Exchange Commission.
The basket consists of the stocks of Flowserve Corp., Idex Corp., Mueller Water Products, Inc., Pentair plc, Rexnord Corp., Xylem Inc., Vectren Corp., AECOM, Astec Industries, Inc., EMCOR Group, Inc., Eagle Materials Inc., Granite Construction Inc., Headwaters Inc., MDU Resources Group, Inc., Martin Marietta Materials, Inc., Summit Materials, LLC, Tutor Perini Corp., Tetra Tech, Inc., Vulcan Materials Co., Crown Castle International Corp., Uniti Group Inc., Dycom Industries, Inc., MasTec, Inc., Quanta Services Inc., CommScope Holding Co., Inc., Gibraltar Industries, Inc., SemGroup Corp., Valero Energy Corp., Knowles Corp., 3M Co., Lumentum Holdings Inc., Argan Inc., Jacobs Engineering Group Inc. and U.S. Concrete, Inc. Each stock has a 2.857% weight.
The payout at maturity will be par plus 1.5 times any basket gain, up to a maximum amount of $1,103.50 per $1,000 principal amount.
Investors will receive par if the basket falls by up to 10% and will lose 1.1111% for each 1% decline beyond 10%.
Scotia Capital (USA) Inc. is the underwriter. Goldman Sachs & Co. is the dealer.
| Issuer: | Bank of Nova Scotia
|
| Issue: | Capped buffered enhanced participation notes
|
| Underlying basket: | Flowserve Corp., Idex Corp., Mueller Water Products, Inc., Pentair plc, Rexnord Corp., Xylem Inc., Vectren Corp., AECOM, Astec Industries, Inc., EMCOR Group, Inc., Eagle Materials Inc., Granite Construction Inc., Headwaters Inc., MDU Resources Group, Inc., Martin Marietta Materials, Inc., Summit Materials, LLC, Tutor Perini Corp., Tetra Tech, Inc., Vulcan Materials Co., Crown Castle International Corp., Uniti Group Inc., Dycom Industries, Inc., MasTec, Inc., Quanta Services Inc., CommScope Holding Co., Inc., Gibraltar Industries, Inc., SemGroup Corp., Valero Energy Corp., Knowles Corp., 3M Co., Lumentum Holdings Inc., Argan Inc., Jacobs Engineering Group Inc. and U.S. Concrete, Inc.; each with a 2.857% weight
|
| Amount: | $8.95 million
|
| Maturity: | Sept. 27, 2018
|
| Coupon: | 0%
|
| Price: | Par of $1,000
|
| Payout at maturity: | Par plus 1.5 times any basket gain up to $1,103.50 maximum payout per note; par if basket falls by up to 10%; 1.1111% loss for each 1% basket decline beyond 10%
|
| Pricing date: | March 24
|
| Settlement date: | March 31
|
| Underwriter: | Scotia Capital (USA) Inc.
|
| Dealer: | Goldman Sachs & Co.
|
| Fees: | 1.5%
|
| Cusip: | 064159JJ6
|
|
|
© 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.
