Published on 2/9/2021 in the Prospect News Structured Products Daily.
New Issue: Scotia prices $2.39 million leveraged upside participation notes on index, ETFs
By Wendy Van Sickle
Columbus, Ohio, Feb. 9 – Bank of Nova Scotia priced $2.39 million of 0% market-linked securities – leveraged upside participation and contingent downside due Feb. 2, 2026 linked to lowest performing of the iShares MSCI Emerging Markets ETF, the iShares MSCI EAFE ETF and Euro Stoxx 50 index, according to a 424B2 filed with the Securities and Exchange Commission.
The payout at maturity will be par plus 2.53 times any gain in the lowest performing asset.
Investors will receive par if the lowest performing asset falls by up to 30%
Otherwise, investors will lose 1% for every 1% that the lowest performing asset declines from its initial level.
Scotia Capital (USA) Inc. and Wells Fargo Securities, LLC are the agents.
Issuer: | Bank of Nova Scotia
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Issue: | Market-linked securities – leveraged upside participation and contingent downside
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Underlying: | iShares MSCI Emerging Markets ETF, the iShares MSCI EAFE ETF and Euro Stoxx 50 index
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Amount: | $2,393,000
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Maturity: | Feb. 2, 2026
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Coupon: | 0%
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Price: | Par of $10
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Payout at maturity: | Par plus 253% of any lowest performing asset gain; par if lowest performing asset falls by up to 30%; otherwise, 1% loss for every 1% decline of lowest performing asset from initial level
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Initial levels: | 3,557.04 for index, $54.67 for Emerging Markets, $73.92 for EAFE
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Buffer level: | 2,489.928 for index, $38.269for Emerging Markets, $51.744 for EAFE, 70% of initial levels
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Pricing date: | Jan. 28
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Settlement date: | Feb. 2
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Agents: | Scotia Capital (USA) Inc. and Wells Fargo Securities, LLC
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Fees: | 3.62%
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Cusip: | 064159P42
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