Published on 8/31/2021 in the Prospect News Structured Products Daily.
New Issue: Scotiabank sells $13.92 million capped leveraged index return notes on index basket
By William Gullotti
Buffalo, N.Y., Aug. 31 – Bank of Nova Scotia priced $13.92 million of 0% capped leveraged index return notes due Feb. 23, 2024 linked to a basket of unequally weighted indexes, according to a 424B2 filing with the Securities and Exchange Commission.
The basket components are the Euro Stoxx 50 index with a 70% weight and the MSCI Emerging Markets index with a 30% weight.
The payout at maturity will be par plus 150% of any basket gain, up to a maximum return of 21.46%.
Investors will receive par if the basket falls by up to 10% and will lose 1% for each 1% decline beyond 10%.
BofA Securities, Inc. is the agent.
Issuer: | Bank of Nova Scotia
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Issue: | Capped leveraged index return notes
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Underlying indexes: | Euro Stoxx 50 (70% weight), MSCI Emerging Markets index (30% weight)
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Amount: | $13,921,050
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Maturity: | Feb. 23, 2024
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Coupon: | 0%
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Price: | Par of $10
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Payout at maturity: | Par plus 150% of any basket gain, with return capped at 21.46%; par if basket falls by up to 10%; lose 1% for every 1% of basket decline beyond 10%
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Initial index levels: | 4,169.87 for Stoxx, 1,266.13 for MSCI EM
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Pricing date: | Aug. 23
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Settlement date: | Sept. 3
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Agent: | BofA Securities, Inc.
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Fees: | 2%
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Cusip: | 06417X853
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