Published on 6/26/2017 in the Prospect News Structured Products Daily.
New Issue: Scotiabank sells $9.03 million capped buffered enhanced participation notes on basket
By Devika Patel
Knoxville, Tenn., June 26 – Bank of Nova Scotia priced $9.03 million of 0% capped buffered enhanced participation notes due June 27, 2019 linked to a 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 37% weight, the FTSE 100 index with a 23% weight, the Topix index with a 23% weight, the Swiss Market index with a 9% weight and the S&P/ASX 200 index with an 8% weight.
If the basket return is positive, the payout at maturity will be par plus double the basket return, subject to a maximum settlement amount of $1,262 per $1,000 of notes. Investors will receive par if the basket declines by 10% or less and will lose 1.1111% for every 1% that it declines beyond 10%.
Scotia Capital (USA) Inc. and Goldman Sachs & Co. are the agents.
Issuer: | Bank of Nova Scotia
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Issue: | Capped buffered enhanced participation notes
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Underlying indexes: | Euro Stoxx 50 (37% weight), FTSE 100 (23% weight), Topix (23% weight), Swiss Market (9% weight) and S&P/ASX 200 (8% weight)
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Amount: | $9,028,000
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Maturity: | June 27, 2019
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Coupon: | 0%
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Price: | Par
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Payout at maturity: | If basket return is positive, par plus double basket return, capped at $1,262 per $1,000 of notes; par if basket declines by 10% or less; 1.1111% loss for every 1% that basket declines beyond 10%
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Initial levels: | 3,555.76 for Euro Stoxx, 7,439.29 for FTSE, 1,610.38 for Topix, 9,051.27 for Swiss Market and 5,705.952 for S&P/ASX
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Pricing date: | June 22
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Settlement date: | June 29
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Agent: | Scotia Capital (USA) Inc. and Goldman Sachs & Co.
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Fees: | 1.75%
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Cusip: | 064159JS6
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