Published on 5/7/2018 in the Prospect News Structured Products Daily.
New Issue: Scotiabank prices $10.49 million Capped Leveraged Index Return Notes on index basket
By Wendy Van Sickle
Columbus, Ohio, May 7 – Bank of Nova Scotia priced $10.49 million of 0% Capped Leveraged Index Return Notes due Nov. 15, 2019 linked to a basket of unequally weighted indexes, according to a 424B2 filing with the Securities and Exchange Commission.
The basket consists of the Euro Stoxx 50 index with an initial weight of 60% and the S&P 500 index with an initial weight of 40%.
The payout at maturity will be par plus double any basket gain, up to a maximum return of 13.5%.
Investors will receive par if the basket falls by up to 10% and will lose 1% for each 1% decline beyond 10%.
BofA Merrill Lynch 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 index (60% weight) and S&P 500 index (40% weight)
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Amount: | $10,488,730
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Maturity: | Nov. 15, 2019
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Coupon: | 0%
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Price: | Par of $10
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Payout at maturity: | Par plus 200% of any basket gain, with return capped at 13.5%; par if basket falls by up to 5%; exposure to losses beyond 5%
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Initial index levels: | 2,666.94 for S&P, 383.75 for Stoxx, 1,557.895 for Russell
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Pricing date: | May 3
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Settlement date: | May 10
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Agent: | BofA Merrill Lynch
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Fees: | 2%
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Cusip: | 064161359
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