New Issue: Scotiabank prices $12.29 million market-linked step-up notes on Euro Stoxx 50

By William Gullotti

Buffalo, N.Y., April 30 – Bank of Nova Scotia priced $12.29 million of 0% market-linked step-up notes due June 26, 2025 tied to the Euro Stoxx 50 index, according to a 424B2 filing with the Securities and Exchange Commission.

If the index finishes above the step-up value, 116.95% of the initial value, the payout at maturity will be par plus the index return.

If the index return is zero or positive but the index finishes at or below the step-up value, the payout will be par plus the step-up payment of 16.95%.

Investors will be fully exposed to any decline of the index.

BofA Securities, Inc. is the underwriter.

Issuer:	Bank of Nova Scotia
Issue:	Market-linked step-up notes
Underlying index:	Euro Stoxx 50 index
Amount:	$12,290,070
Maturity:	June 26, 2025
Coupon:	0%
Price:	Par of $10
Payout at maturity:	If index finishes above step-up value, par plus index return; if index stays flat or gains but finishes at or below step-up value, par plus 16.95%; otherwise, full exposure to any index decline
Initial level:	4,939.01
Step-up value:	5,776.17; 116.95% of initial value
Pricing date:	April 25
Settlement date:	May 2
Underwriter:	BofA Securities, Inc.
Fees:	1.75%
Cusip:	06418H592

© 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.