Published on 9/19/2023 in the Prospect News Structured Products Daily.
New Issue: Scotia sells $8.33 million capped buffered enhanced participation notes on index basket
By Wendy Van Sickle
Columbus, Ohio, Sept. 19 – Bank of Nova Scotia priced $8.33 million of 0% capped buffered enhanced participation notes due Oct. 10, 2025 linked to a weighted basket of indexes, according to a 424B2 filing with the Securities and Exchange Commission.
The basket consists of the Euro Stoxx 50 index with a 36% weight, the Topix index with a 26% weight, the FTSE 100 index with a 17% weight, the Swiss Market index with a 12% weight and the S&P/ASX 200 index with a 9% weight.
If the basket return is positive, the payout at maturity will be par plus 200% of the basket return up to par plus 42.7%.
Investors will receive par if the basket declines by 17.5% or less and will lose 1.2121% for every 1% that it declines beyond 17.5%.
Scotia Capital (USA) Inc. is the underwriter. Goldman Sachs & Co. LLC is acting as dealer.
Issuer: | Bank of Nova Scotia
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Issue: | Capped buffered enhanced participation notes
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Underlying indexes: | Euro Stoxx 50 index (36% weight), Topix index (26% weight), FTSE 100 index (17% weight), Swiss Market index (12% weight), S&P/ASX 200 index (9% weight)
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Amount: | $8,332,000
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Maturity: | Oct. 10, 2025
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Coupon: | 0%
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Price: | Par
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Payout at maturity: | If the basket return is positive, the payout at maturity will be par plus 200% of the basket return up to par plus 42.7%; investors will receive par if the basket declines up to 17.5%; otherwise, lose 1.2121% for every 1% that it declines beyond 17.5%
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Initial index levels: | 4,223.48 for Euro Stoxx, 2,378.64 for Topix, 7,525.99 for FTSE, 10,976.38 for Swiss Market, 7,153.912 for S&P/ASX 200
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Buffer level: | 82.5% of initial basket level
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Pricing date: | Sept. 13
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Settlement date: | Sept. 20
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Underwriter: | Scotia Capital (USA) Inc.
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Selected dealer: | Goldman Sachs & Co. LLC
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Fees: | 0%
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Cusip: | 06417YUC1
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