By Wendy Van Sickle
Columbus, Ohio, Dec. 30 – Bank of Nova Scotia priced $11.42 million of 4% trigger callable yield notes due March 28, 2022 linked to the iShares Russell 2000 ETF, according to a 424B2 filing with the Securities and Exchange Commission.
Interest is paid monthly.
The notes can be called at par on any monthly call date starting after three months.
At maturity, investors will receive par if the ETF finishes above its 60% downside threshold and will be fully exposed to the ETF’s decline from its initial level if it declines by more than 40%.
Scotia Capital (USA) Inc. and UBS Financial Services Inc. are the agents.
| Issuer: | Bank of Nova Scotia
|
| Issue: | Trigger callable yield notes
|
| Underlying ETF: iShares Russell 2000
|
| Amount: | $11,420,770
|
| Maturity: | March 28, 2022
|
| Coupon: | 4%, payable monthly
|
| Price: | Par of $10
|
| Payout at maturity: | If ETF return is more than 60% downside threshold, par; full exposure to ETF’s decline from initial level if ETF finishes below downside threshold
|
| Call option: | At par on any monthly call date starting after three months at issuer’s option
|
| Initial ETF level: | $199.14
|
| Downside threshold: | $119.48, 60% of initial level
|
| Pricing date: | Dec. 23
|
| Settlement date: | Dec. 29
|
| Agents: | Scotia Capital (USA) Inc. and UBS Financial Services Inc.
|
| Fees: | 1%
|
| Cusip: | 06417T183
|
|
|
|
|
|
|
© 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.
