New Issue: Scotiabank sells $37.47 million Leveraged Index Return Notes on S&P 500

By Marisa Wong

Los Angeles, Aug. 31 – Bank of Nova Scotia priced $37.47 million of 0% Capped Leveraged Index Return Notes due Aug. 25, 2023 linked to the S&P 500 index, according to a 424B2 filing with the Securities and Exchange Commission.

The payout at maturity will be par of $10 plus 2 times any index gain, up to a maximum payout of par plus 10.73%.

If the index falls by up to 10%, the payout will be par. Otherwise, investors will lose 1% for every 1% decline beyond 10%.

BofA Securities, Inc. is the agent.

Issuer:	Bank of Nova Scotia
Issue:	Capped Leveraged Index Return Notes
Underlying index:	S&P 500
Amount:	$37,470,100
Maturity:	Aug. 25, 2023
Coupon:	0%
Price:	Par of $10
Payout at maturity:	Par plus 200% of any index gain, capped at par plus 10.73%; par if index falls by up to 10%; otherwise, 1% loss for every 1% index decline beyond 10%
Initial level:	4,470.00
Threshold level:	4,023.00, 90% of initial level
Final index level:	Average of index’s closing levels on five trading days ending Aug. 22, 2023
Pricing date:	Aug. 26
Settlement date:	Sept. 3
Underwriter:	BofA Securities, Inc.
Fees:	2%
Cusip:	06417X705

© 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.