Published on 9/6/2023 in the Prospect News Structured Products Daily.
New Issue: Scotia prices $2.81 million of digital basket-linked notes on 20-stock basket
By William Gullotti
Buffalo, N.Y., Sept. 6 – Bank of Nova Scotia priced $2.81 million of digital basket-linked notes due Oct. 2, 2024 linked an equally weighted basket of stocks, according to a 424B2 filing with the Securities and Exchange Commission.
The basket consists of the stocks of Autohome Inc., Alibaba Group Holding Ltd., KE Holdings Inc., Baidu, Inc., Bilibili Inc., Kanzhun Ltd., Futu Holdings Ltd., iQIYI, Inc., JD.com, Inc., Kingsoft Cloud Holdings Ltd., NetEase, Inc., PDD Holdings Inc., Qifu Technology, Inc., TAL Education Group, Trip.com Group Ltd., Tencent Music Entertainment Group, Vipshop Holdings Ltd., Weibo Corp., Full Truck Alliance Co., Ltd. and JOYY Inc.
If the basket finishes at or above its 85% threshold level, the payout at maturity will be par plus 16.9%.
Otherwise, investors will lose 1.1765% for every 1% of basket decline beyond 15%.
Scotia Capital (USA) Inc. is the agent. Goldman Sachs & Co. LLC is the dealer.
| Issuer: | Bank of Nova Scotia
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| Issue: | Digital basket-linked notes
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| Underlying basket: | Autohome Inc., Alibaba Group Holding Ltd., KE Holdings Inc., Baidu, Inc., Bilibili Inc., Kanzhun Ltd., Futu Holdings Ltd., iQIYI, Inc., JD.com, Inc., Kingsoft Cloud Holdings Ltd., NetEase, Inc., PDD Holdings Inc., Qifu Technology, Inc., TAL Education Group, Trip.com Group Ltd., Tencent Music Entertainment Group, Vipshop Holdings Ltd., Weibo Corp., Full Truck Alliance Co., Ltd., JOYY Inc.; equal weights
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| Amount: | $2.81 million
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| Maturity: | Oct. 2, 2024
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| Coupon: | 0%
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| Price: | Par
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| Payout at maturity: | If the basket finishes at or above threshold level, par plus 16.9%; otherwise, lose 1.1765% for every 1% of basket decline beyond 15%
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| Initial levels: | $30.04 for Autohome Inc., $94.03 for Alibaba Group Holding Ltd., $15.83 for KE Holdings Inc., $140.71 for Baidu, Inc., $15.82 for Bilibili Inc., $14.87 for Kanzhun Ltd., $60.01 for Futu Holdings Ltd., $4.94 for iQIYI, Inc., $34.50 for JD.com, Inc., $5.86 for Kingsoft Cloud Holdings Ltd., $104.91 for NetEase, Inc., $93.22 for PDD Holdings Inc., $17.25 for Qifu Technology, Inc., $7.16 for TAL Education Group, $39.98 for Trip.com Group Ltd., $6.92 for Tencent Music Entertainment Group, $16.42 for Vipshop Holdings Ltd., $13.33 for Weibo Corp., $7.12 for Full Truck Alliance Co., Ltd., $33.96 for JOYY Inc.
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| Threshold level: | 85% of initial level
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| Pricing date: | Aug. 29
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| Settlement date: | Sept. 6
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| Agent: | Scotia Capital (USA) Inc.
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| Dealer: | Goldman Sachs & Co. LLC
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| Fees: | 0.82%
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| Cusip: | 06417YTG4
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