Published on 7/21/2023 in the Prospect News Structured Products Daily.
New Issue: Scotia prices $6.89 million Accelerated Return Notes tied to Treasury ETF
Chicago, July 21 – Bank of Nova Scotia priced $6.89 million of 0% Accelerated Return Notes due Sept. 27, 2024 linked to the iShares 20+ Year Treasury Bond ETF, according to a 424B2 filing with the Securities and Exchange Commission.
The payout at maturity will be par of $10 plus triple any ETF gain, up to a maximum return of 19.9%. Investors will be exposed to any ETF decline.
BofA Securities, Inc. is the underwriter.
| Issuer: | Bank of Nova Scotia
|
| Issue: | Accelerated Return Notes
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| Underlying fund: | iShares 20+ Year Treasury Bond ETF
|
| Amount: | $6,885,770
|
| Maturity: | Sept. 27, 2024
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| Coupon: | 0%
|
| Price: | Par of $10
|
| Payout at maturity: | Par plus triple any ETF gain, up to a maximum return of 19.9%; investors will be exposed to any ETF decline
|
| Initial level: | $101.89
|
| Pricing date: | July 13
|
| Settlement date: | July 20
|
| Underwriter: | BofA Securities, Inc.
|
| Fees: | 1.75%
|
| Cusip: | 44328M385
|
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