Published on 8/10/2020 in the Prospect News Structured Products Daily.
New Issue: Scotiabank sells $10.05 million capped notes linked to the Dow
By Marisa Wong
Los Angeles, Aug. 10 – Bank of Nova Scotia priced $10,047,600 of 0% capped notes due July 25, 2025 linked to the Dow Jones industrial average, according to a 424B2 filing with the Securities and Exchange Commission.
The payout at maturity will be par of $10 plus any index gain, capped at par plus 53.1%.
If the index finishes flat or falls by up to 20%, investors will receive par. Investors will be exposed to any losses beyond 20%.
BofA Securities, Inc. is the agent.
Issuer: | Bank of Nova Scotia
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Issue: | Capped notes
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Underlying index: | Dow Jones industrial average
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Amount: | $10,047,600
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Maturity: | July 25, 2025
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Coupon: | 0%
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Price: | Par of $10
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Payout at maturity: | Par plus any index gain, capped at 53.1%; par if index falls by up to 20%; exposure to any losses beyond 20%
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Initial value: | 26,313.65
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Threshold value: | 21,050.92, 80% of initial value
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Final value: | Average of index’s closing levels on five trading days ending July 22, 2025
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Pricing date: | July 30
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Settlement date: | Aug. 6
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Agent: | BofA Securities, Inc.
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Fees: | 2.5%
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Cusip: | 06417R534
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