By Marisa Wong
Morgantown, W.Va., Feb. 1 – Bank of Nova Scotia priced $18,943,330 of market-linked step-up notes due Feb. 4, 2020 linked to a basket of Asian indexes, according to a 424B2 filing with the Securities and Exchange Commission.
The basket consists of the Hang Seng China Enterprises index with an initial weight of 33.33%, the Kospi 200 index with an initial weight of 33.33% and the Taiwan Stock Exchange Capitalization Weighted index with an initial weight of 33.34%.
If the basket finishes above the step-up level – 128% of the initial level – the payout at maturity will be par of $10 plus the index gain.
If the index gains by up to the step-up level, the payout will be par plus the step-up payment of 28%.
Investors will be exposed to any losses.
BofA Merrill Lynch is the agent.
| Issuer: | Bank of Nova Scotia
|
| Issue: | Market-linked step-up notes
|
| Basket components: | Hang Seng China Enterprises index (33.33% weight), Kospi 200 index (33.33% weight) and Taiwan Stock Exchange Capitalization Weighted index (33.34% weight)
|
| Amount: | $18,943,330
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| Maturity: | Feb. 4, 2020
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| Coupon: | 0%
|
| Price: | Par of $10
|
| Payout at maturity: | If basket finishes above the step-up level, par plus the gain; if basket gains up to the step-up level, par plus 28%; exposure to any decline
|
| Initial levels: | 13,388.16 for Hang Seng, 334.08 for Kospi, 11,165.95 for Taiwan Stock Exchange
|
| Step-up value: | 128% of initial basket level
|
| Pricing date: | Jan. 25
|
| Settlement date: | Feb. 1
|
| Underwriter: | BofA Merrill Lynch
|
| Fees: | 2%
|
| Cusip: | 064161698
|
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