Published on 12/22/2020 in the Prospect News Structured Products Daily.
New Issue: Scotia prices $8.35 million trigger gears linked to equity index basket
By Cady Vishniac
Detroit, Dec. 22 – Bank of Nova Scotia priced $8.35 million of 0% trigger gears due Dec. 18, 2025 linked to a basket of equity indexes, according to a 424B2 filing with the Securities and Exchange Commission.
The basket includes the Euro Stoxx 50 index with a 40% weight, the FTSE 100 index with a 20% weight, the Nikkei 225 index with a 20% weight, the Swiss Market index 7.5% weight, the S&P/ASX 200 index with a 7.5% weight and the Hang Seng index with a 5% weight.
The payout at maturity will be par of $10 plus 1.5305 times any basket gain.
If the basket finishes flat or falls by up to 25%, the payout will be par.
Otherwise, investors will lose 1% for every 1% that the basket declines below the initial level.
UBS Financial Services Inc. and Scotia Capital (USA) Inc. are the agents.
Issuer: | Bank of Nova Scotia
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Issue: | Trigger gears
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Underlying indexes: | Euro Stoxx 50 (40% weight), FTSE 100 (20% weight), Nikkei 225 (20% weight), Swiss Market (7.5% weight), S&P/ASX 200 (7.5% weight) and Hang Seng (5% weight)
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Amount: | $8,351,810
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Maturity: | Dec. 18, 2025
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Coupon: | 0%
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Price: | Par of $10
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Payout at maturity: | Par plus 1.5305 times any basket gain; par if basket finishes flat or falls by up to 25%; otherwise, full exposure to any basket decline
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Initial index levels: | 3,543.00 for Euro Stoxx 50, 6,570.91 for FTSE 100, 26,757.40 for Nikkei 225, 10,456.78 for Swiss Market, 6,679.226 for S&P/ASX 200 and 26,460.29 for Hang Seng
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Downside threshold: | 75% of initial level
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Pricing date: | Dec. 16
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Settlement date: | Dec. 18
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Agents: | UBS Financial Services Inc. and Scotia Capital (USA) Inc.
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Fees: | 3.5%
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Cusip: | 06417T100
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