Published on 4/25/2024 in the Prospect News Structured Products Daily.
New Issue: Scotiabank prices $15.17 million digital notes linked to S&P 500
By Wendy Van Sickle
Columbus, Ohio, April 25 – Bank of Nova Scotia priced $15.17 million of 0% digital notes due March 25, 2026 linked to the S&P 500 index, according to a 424B2 filing with the Securities and Exchange Commission.
If the index finishes at or above its 85% threshold level, the payout at maturity will be $1,174 per $1,000 principal amount of notes.
Otherwise, investors will lose 1.1765% for each 1% decline beyond 15%.
Scotia Capital (USA) Inc. is the agent. iCapital Markets LLC is the dealer.
Issuer: | Bank of Nova Scotia
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Issue: | Digital notes
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Underlying index: | S&P 500 index
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Amount: | $15.17 million
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Maturity: | March 25, 2026
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Coupon: | 0%
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Price: | Par
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Payout at maturity: | If the index finishes at or above threshold level, $1,174 per $1,000 principal amount; otherwise, 1.1765% loss for each 1% decline beyond 15%
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Initial index level: | 5,010.6
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Threshold value: | 85% of initial level
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Pricing date: | April 22
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Settlement date: | April 29
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Agent: | Scotia Capital (USA) Inc.
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Dealer: | iCapital Markets LLC
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Fees: | None
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Cusip: | 06417YS59
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