Published on 4/4/2023 in the Prospect News Structured Products Daily.
New Issue: Scotia prices $1.43 million Accelerated Return Notes on Vanguard Small-Cap Value ETF
By William Gullotti
Buffalo, N.Y., April 4 – Bank of Nova Scotia priced $1.43 million of 0% Accelerated Return Notes due May 31, 2024 linked to the Vanguard Small-Cap Value 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 17.4%. Investors will be exposed to any ETF decline.
BofA Securities, Inc. is the underwriter.
Issuer: | Bank of Nova Scotia
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Issue: | Accelerated Return Notes
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Underlying fund: | Vanguard Small-Cap Value ETF
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Amount: | $1,425,330
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Maturity: | May 31, 2024
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Coupon: | 0%
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Price: | Par of $10
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Payout at maturity: | Par plus triple any ETF gain, up to a maximum return of 17.4%; investors will be exposed to any ETF decline
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Initial level: | $156.17
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Pricing date: | March 30
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Settlement date: | April 6
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Underwriter: | BofA Securities, Inc.
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Fees: | 1.75%
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Cusip: | 06418G875
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