Published on 9/6/2016 in the Prospect News Structured Products Daily.
New Issue: Scotiabank prices $1.15 million buffered autocallables linked to Euro Stoxx 50
By Angela McDaniels
Tacoma, Wash., Sept. 6 – Bank of Nova Scotia priced $1.15 million of 0% autocallable market-linked securities with fixed percentage buffered downside due Sept. 6, 2018 linked to the Euro Stoxx 50 index, according to a 424B2 filing with the Securities and Exchange Commission.
The notes will be automatically called at par plus a call premium of 7.5% per year if the index closes at or above the initial index level on Sept. 6, 2017, March 6, 2018 or Aug. 29, 2018.
If the notes are not called and the final index level is less than the initial index level but greater than or equal to the threshold level, 90% of the initial index level, the payout at maturity will be par. Otherwise, investors will lose 1% for every 1% that the index declines beyond 10%.
Scotia Capital (USA) Inc. and Wells Fargo Securities, LLC are the agents.
| Issuer: | Bank of Nova Scotia
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| Issue: | Autocallable market-linked securities with fixed percentage buffered downside
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| Underlying index: | Euro Stoxx 50
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| Amount: | $1,154,000
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| Maturity: | Sept. 6, 2018
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| Coupon: | 0%
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| Price: | Par
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| Payout at maturity: | Par if final index level is less than initial index level but greater than or equal to threshold level; otherwise, 1% loss for every 1% that index declines beyond 10%
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| Call: | Automatically at par plus call premium of 7.5% per year if index closes at or above initial index level on Sept. 6, 2017, March 6, 2018 or Aug. 29, 2018
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| Initial index level: | 3,023.13
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| Threshold level: | 2,720.817, 90% of initial level
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| Pricing date: | Aug. 31
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| Settlement date: | Sept. 6
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| Agents: | Scotia Capital (USA) Inc. and Wells Fargo Securities, LLC
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| Fees: | 2.575%
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| Cusip: | 064159HY5
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