Published on 4/6/2020 in the Prospect News Structured Products Daily.
New Issue: Scotiabank sells $5.49 million notes on international equity index basket
By Sarah Lizee
Olympia, Wash., April 6 – Bank of Nova Scotia priced $5.49 million of notes due March 25, 2022 linked to a basket of unequally weighted indexes, according to a 424B2 filing with the Securities and Exchange Commission.
The basket components are the Euro Stoxx 50 index with a 40% weight, the FTSE 100 index with a 20% weight, the Nikkei Stock Average index with a 20% weight, the Swiss Market index with a 7.5% weight, the S&P/ASX 200 index with a 7.5% weight and the Hang Seng index with a 5% weight.
The payout at maturity will be par plus any basket gain.
Investors will receive par if the basket falls by up to 10% and will lose 1% for each 1% decline beyond the 10% buffer.
BofA Securities, Inc. is the agent.
| Issuer: | Bank of Nova Scotia
|
| Issue: | Notes
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| Underlying basket: | Euro Stoxx 50 index (40% weight), the FTSE 100 index (20% weight), the Nikkei Stock Average index (20% weight), the Swiss Market index (7.5% weight), the S&P/ASX 200 index (7.5% weight) and the Hang Seng index (5% weight)
|
| Amount: | $5,491,460
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| Maturity: | March 25, 2022
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| Coupon: | 0%
|
| Price: | Par of $10
|
| Payout at maturity: | If the basket return is positive, par plus the basket gain; par if basket falls by up to 10%; if basket falls by more than 10%, 1% loss for every 1% decline beyond the buffer
|
| Initial levels: | 2,847.78 for Euro Stoxx 50 index, 5,815.73 for FTSE 100 index, 18,664.60 for Nikkei Stock Average index, 9,203.98 for the Swiss Market index, 5,113.287 for the S&P/ASX 200 index and 23,352.34 for the Hang Seng index
|
| Buffer level: | 90% of initial basket level
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| Final values: | Average of index’s closing levels on five trading days ending March 22, 2022
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| Pricing date: | March 26
|
| Settlement date: | April 2
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| Agent: | BofA Securities, Inc.
|
| Fees: | 2%
|
| Cusip: | 06417R104
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