Published on 11/2/2020 in the Prospect News Structured Products Daily.
New Issue: Scotiabank sells $17.44 million capped Leveraged Index Return Notes on Russell 2000
By Marisa Wong
Los Angeles, Nov. 2 – Bank of Nova Scotia priced $17.44 million of 0% capped Leveraged Index Return Notes due Oct. 28, 2022 linked to the Russell 2000 index, according to a 424B2 filed with the Securities and Exchange Commission.
If the index return is positive, the payout at maturity will be par of $10 plus 200% of the index return, subject to a maximum payout of par plus 17.6%. Investors will receive par if the index declines by 10% or less and will lose 1% for every 1% that it declines beyond 10%.
BofA Securities, Inc. is the agent.
Issuer: | Bank of Nova Scotia
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Issue: | Capped Leveraged Index Return Notes
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Underlying index: | Russell 2000 index
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Amount: | $17,436,940
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Maturity: | Oct. 28, 2022
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Coupon: | 0%
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Price: | Par of $10
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Payout at maturity: | Par plus 200% of any index gain, capped at par plus 17.6%; par if index declines by 10% or less; 1% loss for every 1% that index declines beyond 10%
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Initial level: | 1,561.577
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Threshold level: | 1,405.419, or 90% of initial level
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Final level: | Average of index’s closing levels on five trading days ending Oct. 25, 2022
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Pricing date: | Oct. 29
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Settlement date: | Nov. 5
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Agent: | BofA Securities, Inc.
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Fees: | 2%
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Cusip: | 06417R328
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