Published on 7/9/2021 in the Prospect News Structured Products Daily.
New Issue: Scotiabank sells $1.7 million capped buffered enhanced participation notes on basket
By William Gullotti
Buffalo, N.Y., July 9 – Bank of Nova Scotia priced $1.7 million of 0% capped buffered enhanced participation notes due Nov. 30, 2022 linked to a basket of indexes, according to a 424B2 filing with the Securities and Exchange Commission.
The basket consists of the Euro Stoxx 50 index with a 36% weight, the Topix index with a 29% weight, the FTSE 100 index with a 16% weight, the Swiss Market index with an 11% weight and the S&P/ASX 200 index with an 8% weight.
If the basket return is positive, the payout at maturity will be par plus 110% of the basket return, subject to a maximum settlement amount of $1,156.97 per $1,000 of notes. Investors will receive par if the basket declines by 10% or less and will lose 1.1111% for every 1% that it declines beyond 10%.
Scotia Capital (USA) Inc. is the underwriter. Simon Markets LLC is acting as dealer.
Issuer: | Bank of Nova Scotia
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Issue: | Capped buffered enhanced participation notes
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Underlying indexes: | Euro Stoxx 50 (36% weight), Topix (29% weight), FTSE 100 (16% weight), Swiss Market (11% weight) and S&P/ASX 200 (8% weight)
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Amount: | $1,695,000
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Maturity: | Nov. 30, 2022
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Coupon: | 0%
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Price: | Par
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Payout at maturity: | If the basket return is positive, the payout at maturity will be par plus 110% of the basket return, subject to a maximum settlement amount of $1,156.97 per $1,000 of notes; investors will receive par if the basket declines by 10% or less and will lose 1.1111% for every 1% that it declines beyond 10%
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Initial index levels: | 4,084.31 for Stoxx, 1,956.31 for Topix, 7,123.27 for FTSE, 11,964.84 for Swiss and 7,308.554 for S&P/ASX
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Buffer level: | 90% of initial basket level
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Pricing date: | July 2
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Settlement date: | July 12
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Underwriter: | Scotia Capital (USA) Inc.
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Selected dealer: | Simon Markets LLC
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Fees: | None
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Cusip: | 064159Z82
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