Published on 10/10/2019 in the Prospect News Structured Products Daily.
New Issue: Scotiabank prices $21.53 million leveraged return notes with absolute return buffer on basket
By Kiku Steinfeld
Chicago, Oct. 10 – Bank of Nova Scotia prices $21.53 million of 0% leveraged index return notes with absolute return buffer due Sept. 30, 2022 linked to a basket of indexes, according to an FWP filing with the Securities and Exchange Commission.
The basket consists of 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
If the basket finishes at or above the initial level, the payout at maturity will be par of $10 plus 121.15% of the gain.
If the basket falls by up to 15%, the payout at maturity will be par plus the absolute value of the basket decline.
If the basket falls by more than 15%, investors will be exposed to any losses beyond the buffer.
BofA Securities, Inc. is the agent.
Issuer: | Bank of Nova Scotia
|
Issue: | Leveraged index return notes with absolute return buffer
|
Underlying indexes: | Euro Stoxx 50 (40% weight), FTSE 100 and Nikkei Stock (20% weight each), Swiss Market and S&P/ASX 200 (7.5% weight each) and Hang Seng (5% weight)
|
Amount: | $21,525,230
|
Maturity: | Sept. 30, 2022
|
Coupon: | 0%
|
Price: | Par of $10
|
Payout at maturity: | Par plus 121.15% of any basket gain; par if basket falls by up to 15%; 1% loss for every 1% decline beyond 15%
|
Initial levels: | 3,532.18 for Stoxx, 7,351.08 for FTSE, 22,048.24 for Nikkei, 10,010.71 for Swiss, 6,677.581 for S&P/ASX, 26,041.93 for Hang Seng
|
Pricing date: | Sept. 26
|
Settlement date: | Oct. 3
|
Agent: | BofA Merrill Lynch
|
Fees: | 2.25%
|
Cusip: | 06417Q783
|
|
|
© 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.