Published on 4/15/2021 in the Prospect News Structured Products Daily.
New Issue: Scotia prices $7.14 million accelerated return notes on silver ETF
By Kiku Steinfeld
Chicago, April 15 – Bank of Nova Scotia priced $7.14 million of 0% Accelerated Return Notes due May 27, 2022 linked to the iShares Silver trust, according to a 424B2 filing with the Securities and Exchange Commission.
The payout at maturity will be par of $10 plus triple any fund gain, up to a maximum return of 39%. Investors will be exposed to any fund decline.
BofA Securities, Inc. is the underwriter.
| Issuer: | Bank of Nova Scotia
|
| Issue: | Accelerated Return Notes
|
| Underlying fund: | iShares Silver trust
|
| Amount: | $7,144,180
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| Maturity: | May 27, 2022
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| Coupon: | 0%
|
| Price: | Par of $10
|
| Payout at maturity: | Par plus triple any fund gain, up to a maximum return of 39%; investors will be exposed to any fund decline
|
| Initial level: | $23.29
|
| Pricing date: | March 25
|
| Settlement date: | April 1
|
| Underwriter: | BofA Securities, Inc.
|
| Fees: | 1.75%
|
| Cusip: | 06417V568
|
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