Published on 2/16/2022 in the Prospect News Structured Products Daily.
New Issue: Scotiabank prices $23.65 million digital notes linked to S&P 500 index
By Wendy Van Sickle
Columbus, Ohio, Feb. 16 – Bank of Nova Scotia priced $23.65 million of 0% digital notes due March 15, 2023 linked to the S&P 500 index, according to a 424B2 filing with the Securities and Exchange Commission.
If the index finishes at or above its 85% threshold level, the payout at maturity will be $1,069.50 per $1,000 principal amount of notes.
Otherwise, investors will lose 1.1765% for each 1% decline beyond the 15% buffer.
Scotia Capital (USA) Inc. is the agent. Goldman Sachs & Co. LLC is acting as dealer.
Issuer: | Bank of Nova Scotia
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Issue: | Digital notes
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Underlying index: | S&P 500
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Amount: | $23.65 million
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Maturity: | March 15, 2023
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Coupon: | 0%
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Price: | Par
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Payout at maturity: | If index finishes above threshold level, $1,069.50 per $1,000 principal amount; otherwise, 1.1765% loss for each 1% beyond buffer
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Initial index level: | 4,155.23
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Buffer value: | 85% of initial level
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Pricing date: | Feb. 11
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Settlement date: | Feb. 18
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Agent: | Scotia Capital (USA) Inc.
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Dealer: | Goldman Sachs & Co. LLC
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Fees: | 0.95%
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Cusip: | 0641597T7
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