New Issue: Scotia prices $58.65 million capped Leveraged Index Return Notes on S&P

By William Gullotti

Buffalo, N.Y., Jan. 30 – Bank of Nova Scotia priced $58.65 million of 0% capped Leveraged Index Return Notes due Jan. 30, 2026 linked to the S&P 500 index, according to a 424B2 filed with the Securities and Exchange Commission.

Scotia sold 5,865,155 units with a face amount of $10 each, for a total principal amount of $58,651,550. The issuer sold 504,000 units to an individual investor at $9.95 per unit and the remainder to the public at par of $10, for total proceeds of $58,626,350.

If the index return is positive, the payout at maturity will be par of $10 plus 200% of the index return, subject to a maximum payout of par plus 18%.

Investors will receive par if the index declines by 10% or less and will lose 1% for every 1% that it declines beyond 10%.

BofA Securities, Inc. is the agent.

Issuer:	Bank of Nova Scotia
Issue:	Capped Leveraged Index Return Notes
Underlying index:	S&P 500 index
Principal amount:	$58,651,550
Proceeds:	$58,626,350
Maturity:	Jan. 30, 2026
Coupon:	0%
Price:	$9.95 per unit for 504,000 units; par of $10 for remainder
Payout at maturity:	Par plus 200% of any index gain, capped at par plus 18%; par if index declines by 10% or less; otherwise, 1% loss for every 1% that index declines beyond 10%
Initial level:	4,894.16
Threshold level:	4,404.74; 90% of initial level
Pricing date:	Jan. 25
Settlement date:	Feb. 1
Agent:	BofA Securities, Inc.
Fees:	1.5% for 504,000 units; 2% for remainder
Cusip:	06418J507

© 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.