Published on 4/2/2019 in the Prospect News Structured Products Daily.
New Issue: Scotiabank prices $42.56 million leveraged notes linked to index basket
By Marisa Wong
Morgantown, W.Va., April 2 – Bank of Nova Scotia priced $42.56 million of 0% notes due March 25, 2022 linked to an international equity index basket, according to a 424B2 filing with the Securities and Exchange Commission.
The basket consists of the Euro Stoxx 50 index with a 40% weight, the FTSE 100 index with a 20% weight, the Nikkei Stock Average index with a 20% weight, the Swiss Market index with a 7.5% weight, the S&P/ASX 200 index with a 7.5% weight and the Hang Seng index with a 5% weight.
The payout at maturity will be par of $10 plus 1.435 times any basket gain.
If the basket falls by up to 15%, the payout will be par plus the absolute value of the basket return. Investors will be exposed to any basket decline beyond 15%.
BofA Merrill Lynch is the underwriter.
Issuer: | Bank of Nova Scotia
|
Issue: | Notes
|
Underlying basket: | Euro Stoxx 50 index with a 40% weight, FTSE 100 index with a 20% weight, Nikkei Stock Average index with a 20% weight, Swiss Market index with a 7.5% weight, S&P/ASX 200 index with a 7.5% weight and Hang Seng index with a 5% weight
|
Amount: | $42,561,060
|
Maturity: | March 25, 2022
|
Coupon: | 0%
|
Price: | Par of $10
|
Payout at maturity: | Par plus 143.5% of any basket gain; par plus absolute value of basket return if basket falls by up to 15%; exposure to any basket decline beyond 15%
|
Initial index levels: | 3,320.29 for Euro Stoxx, 7,234.33 for FTSE, 21,033.76 for Nikkei, 9,405.93 for Swiss Market, 6,176.078 for S&P/ASX, 28,775.21 for Hang Seng
|
Final basket level: | Average of basket closing levels on five trading days ending March 22, 2022
|
Pricing date: | March 28
|
Settlement date: | April 4
|
Underwriter: | BofA Merrill Lynch
|
Fees: | 2.25%
|
Cusip: | 06417P488
|
© 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.