Published on 11/7/2018 in the Prospect News Structured Products Daily.
New Issue: Scotiabank prices $13.03 million Leveraged Index Return Notes on index basket
By Marisa Wong
Morgantown, W.Va., Nov. 7 – Bank of Nova Scotia priced $13.03 million of 0% Leveraged Index Return Notes due Oct. 30, 2020 linked to a basket of unequally weighted indexes, according to a 424B2 filing with the Securities and Exchange Commission.
The basket consists of the Euro Stoxx 50 index with a 40% weight, the FTSE 100 index with a 20% weight, the Nikkei Stock Average index with a 20% weight, the Swiss Market index with a 7.5% weight, the S&P/ASX 200 index with a 7.5% weight and the Hang Seng index with a 5% weight.
The payout at maturity will be par plus 250.6% of any basket gain.
Investors will be fully exposed to losses.
BofA Merrill Lynch is the agent.
Issuer: | Bank of Nova Scotia
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Issue: | Leveraged Index Return Notes
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Underlying basket: | Euro Stoxx 50 index (40% weight), FTSE 100 index (20% weight), Nikkei Stock Average index (20% weight), Swiss Market index (7.5% weight), S&P/ASX 200 index (7.5% weight) and Hang Seng index (5% weight)
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Amount: | $13,031,140
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Maturity: | Oct. 30, 2020
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Coupon: | 0%
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Price: | Par of $10
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Payout at maturity: | Par plus 250.6% of any basket gain; full exposure to losses
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Initial index levels: | 3,197.51 for Stoxx, 7,128.10 for FTSE, 21,920.46 for Nikkei, 9,022.16 for Swiss, 5,830.307 for S&P/ASX, 24,979.69 for Hang Seng
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Pricing date: | Oct. 31
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Settlement date: | Nov. 7
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Agent: | BofA Merrill Lynch
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Fees: | 2%
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Cusip: | 06417P744
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