Published on 7/27/2020 in the Prospect News Structured Products Daily.
New Issue: Scotia prices $2.53 million capped buffered enhanced participation notes on S&P
By Kiku Steinfeld
Chicago, July 24 – Bank of Nova Scotia priced $2.53 million of 0% capped buffered enhanced participation notes due Nov. 24, 2021 linked to the S&P 500 index, according to a 424B2 filing with the Securities and Exchange Commission.
If the final index level is greater than the initial level, the payout at maturity will be par plus 140% of the index return, subject to a maximum settlement amount of $1,152.60 per $1,000 principal amount of notes.
Investors will receive par if the index finishes flat or falls by up to 10% and will lose 1.1111% for each 1% index decline beyond 10%.
Scotia Capital (USA) Inc. is the agent.
Issuer: | Bank of Nova Scotia
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Issue: | Capped buffered enhanced participation notes
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Underlying index: | S&P 500
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Amount: | $2,529,000
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Maturity: | Nov. 24, 2021
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Coupon: | 0%
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Price: | Par
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Payout at maturity: | Par plus 140% of any index gain, up to maximum return of $1,152.60 per $1,000 principal amount of notes; par if index finishes flat or falls by 10%; 1.1111% loss for each 1% index decline beyond 10%
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Initial index level: | 3,215.57
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Buffer level: | 90% of initial level
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Pricing date: | July 16
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Settlement date: | July 23
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Agent: | Scotia Capital (USA) Inc.
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Fees: | None
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Cusip: | 064159VA1
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