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
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Issue: | Accelerated Return Notes
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Underlying fund: | iShares 20+ Year Treasury Bond ETF
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Amount: | $6,885,770
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Maturity: | Sept. 27, 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 19.9%; investors will be exposed to any ETF decline
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Initial level: | $101.89
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Pricing date: | July 13
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Settlement date: | July 20
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Underwriter: | BofA Securities, Inc.
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Fees: | 1.75%
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Cusip: | 44328M385
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