Published on 8/3/2016 in the Prospect News Structured Products Daily.
New Issue: Scotiabank sells $1.3 million market-linked autocallables on Euro Stoxx
By Wendy Van Sickle
Columbus, Ohio, Aug. 3 – Bank of Nova Scotia priced $1.3 million of 0% market-linked securities – autocallable with fixed percentage buffered downside due Aug. 3, 2018 linked to the Euro Stoxx 50 index, according to a 424B2 filed with the Securities and Exchange Commission.
The notes will be called at par plus a premium of 7.5% a year if the index closes above its initial level on any of three semiannual call dates beginning Aug. 3, 2017.
The payout at maturity will be par if the index falls by up to 10%. Investors will be exposed to losses beyond 10%.
Scotia Capital (USA) Inc. and Wells Fargo Securities, LLC are the agents.
Issuer: | Bank of Nova Scotia
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Issue: | Market-linked securities – autocallable with fixed percentage buffered downside
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Underlying index: | Euro Stoxx 50 index
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Amount: | $1,303,000
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Maturity: | Aug. 3, 2018
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Coupon: | 0%
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Price: | Par
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Payout at maturity: | Par if index falls by up to 10%; exposure to losses beyond 10%
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Call: | Automatically at par plus 7.5% a year premium if index closes above initial level on any of three semiannual call dates starting Aug. 3, 2017
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Initial level: | 2,990.76
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Buffer level: | 2,691.684, 90% of initial level
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Pricing date: | July 29
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Settlement date: | Aug. 3
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Agents: | Scotia Capital (USA) Inc. and Wells Fargo Securities, LLC
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Fees: | 2.5%
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Cusip: | 064159HV1
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