Published on 7/2/2018 in the Prospect News Structured Products Daily.
New Issue: Scotiabank sells $51.23 million Accelerated Return Notes on Regional Banks
By Sarah Lizee
Olympia, Wash., July 2 – Bank of Nova Scotia priced $51.23 million of 0% Accelerated Return Notes due Aug. 30, 2019 linked to the S&P Regional Banks Select Industry index, according to a 424B2 filing with the Securities and Exchange Commission.
The payout at maturity will be par of $10 plus triple any index gain, subject to a capped return of 17.15%.
Investors will be exposed to any index decline.
BofA Merrill Lynch is the agent.
Issuer: | Bank of Nova Scotia
|
Issue: | Accelerated Return Notes
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Underlying index: | S&P Regional Banks Select Industry
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Amount: | $51,227,030
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Maturity: | Aug. 30, 2019
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Coupon: | 0%
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Price: | Par of $10
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Payout at maturity: | Par plus 300% of any index gain, capped at 17.15%; exposure to any index decline
|
Initial index level: | 1,926.22
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Final index level: | Average of index’s closing levels on five trading days ending Aug. 27, 2019
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Pricing date: | June 28
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Settlement date: | July 6
|
Underwriter: | BofA Merrill Lynch
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Fees: | 2%
|
Cusip: | 064161284
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