Published on 11/15/2022 in the Prospect News Structured Products Daily.
New Issue: Scotiabank prices $3.76 million Leveraged Index Return Notes linked to SPDR ETF
By William Gullotti
Buffalo, N.Y., Nov. 15 – Bank of Nova Scotia priced $3.76 million of 0% Leveraged Index Return Notes due Nov. 24, 2028 linked to the Energy Select Sector SPDR Fund, according to a 424B2 filing with the Securities and Exchange Commission.
The payout at maturity will be par plus 153.11% of any ETF gain.
Investors will be fully exposed to any ETF decline.
BofA Securities, Inc. is the agent.
| Issuer: | Bank of Nova Scotia
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| Issue: | Leveraged Index Return Notes
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| Underlying fund: | Energy Select Sector SPDR Fund
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| Amount: | $3.76 million
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| Maturity: | Nov. 24, 2028
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| Coupon: | 0%
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| Price: | Par of $10
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| Payout at maturity: | Par plus 153.11% of any ETF gain; otherwise, full exposure to loss
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| Initial ETF level: | $90.50
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| Pricing date: | Nov. 10
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| Settlement date: | Nov. 18
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| Agent: | BofA Securities, Inc.
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| Fees: | 2.5%
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| Cusip: | 06418B132
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