Chicago, July 21 – Bank of Nova Scotia priced $10 million of airbag autocallable contingent yield notes with memory interest due July 18, 2024 linked to the SPDR S&P 500 ETF trust, according to a 424B2 filing with the Securities and Exchange Commission.
Interest will be payable quarterly at an annualized rate of 10.14% if the ETF closes above its coupon barrier, 90% of the initial level, on the related observation date, plus any previously unpaid coupon.
The notes will be called automatically at par if the shares close at or above the initial share price on any quarterly observation date.
The payout at maturity will be par unless the final share price is less than the conversion price, 90% of the initial share price, in which case the payout will be a number of shares equal to $1,000 divided by the conversion price.
Scotia Capital (USA) Inc. and UBS Financial Services Inc. are the agents.
Issuer: | Bank of Nova Scotia
|
Issue: | Airbag autocallable contingent yield notes with memory interest
|
Underlying ETF: | SPDR S&P 500 ETF trust
|
Amount: | $10 million
|
Maturity: | July 18, 2024
|
Coupon: | 10.14%, payable quarterly if ETF closes above coupon barrier on related observation date, plus any previously unpaid coupon
|
Price: | Par
|
Payout at maturity: | Par unless final share price is less than conversion price, in which case 2.4716 shares
|
Call: | Automatically at par if the shares close at or above initial share price on any quarterly observation date
|
Initial share price: | $449.56
|
Coupon barrier: | $404.60, 90% of initial share price
|
Conversion price: | $404.60, 90% of initial share price
|
Strike date: | July 13
|
Pricing date: | July 14
|
Settlement date: | July 19
|
Agents: | Scotia Capital (USA) Inc. and UBS Financial Services Inc.
|
Fees: | 0.1%
|
Cusip: | 06418E383
|
|
© 2015 Prospect News.
All content on this website is protected by copyright law in the U.S. and elsewhere.
For the use of the person downloading only.
Redistribution and copying are prohibited by law without written permission in advance from Prospect News.
Redistribution or copying includes e-mailing, printing multiple copies or any other form of reproduction.