Published on 3/8/2021 in the Prospect News Structured Products Daily.
New Issue: Scotia prices $3.58 million trigger step securities on index basket
By Kiku Steinfeld
Chicago, March 8 – Bank of Nova Scotia priced $3.58 million of 0% trigger step securities due Feb. 27, 2026 linked to an unequally weighted basket consisting of the Euro Stoxx 50 index (40% weight), the Nikkei 225 index (25% weight), FTSE 100 (17.5% weight), the Swiss Market index (10% weight) and the S&P/ASX 200 index (7.5% weight), according to a 424B2 filing with the Securities and Exchange Commission.
If the basket return is zero or positive, the payout at maturity will be par of $10 plus the greater of the basket return and the step return of 33.25%.
Investors will receive par if the basket declines by 25% or less and will lose 1% for each 1% decline from its initial level if the basket falls more than 25%.
Scotia Capital (USA) Inc. and UBS Financial Services Inc. are the agents.
| Issuer: | Bank of Nova Scotia
|
| Issue: | Trigger step securities
|
| Underlying basket: | Euro Stoxx 50 (40% weight), Nikkei 225 (25% weight), FTSE 100 (17.5% weight), Swiss Market (10% weight), S&P/ASX 200 (7.5% weight)
|
| Amount: | $3,580,760
|
| Maturity: | Feb. 27, 2026
|
| Coupon: | 0%
|
| Price: | Par of $10
|
| Payout at maturity: | If basket return is zero or positive, par plus greater of 33.25% and return; par if basket declines by up to 25%; 1% loss for each 1% decline if basket falls beyond 25%
|
| Initial level: | 3,705.99 for Euro Stoxx 50, 29,671.70 for FTSE 100, 6,658.97 for Nikkei 225, 10,727.70 for Swiss Market and 6,777.817 for S&P/ASX 200
|
| Downside threshold: | 75% of initial level
|
| Pricing date: | Feb. 24
|
| Settlement date: | Feb. 26
|
| Agents: | Scotia Capital (USA) Inc. and UBS Financial Services Inc.
|
| Fees: | 3.5%
|
| Cusip: | 06417T340
|
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