[144] Monopar Therapeutics Inc. SEC Filing

Rhea-AI Filing Summary

The Bank of Nova Scotia (BNS) is issuing $1.355 million of Autocallable Contingent Coupon Notes (Series A) linked to Alphabet Inc. Class A shares (GOOGL).

• Structure: Unsubordinated, unsecured senior notes; not CDIC/FDIC-insured; subject to BNS credit risk.
• Tenor: Trade Date 11-Jul-2025; maturity 14-Jul-2028 (≈3 years) unless automatically called.
• Coupons: 10.25% p.a. paid quarterly ($25.625 per $1,000) only if GOOGL ≥ 70% of Initial Value ($126.13) on each observation date. Coupons are not guaranteed.
• Autocall: If on any quarterly Call Observation Date GOOGL closes ≥ Initial Value ($180.19), note is called at par plus the due coupon; no further payments.
• Principal repayment: • If not called and Final Value ≥ Barrier (70% of initial), pay 100% principal.
  • If Final Value < Barrier, repay $1,000 + ($1,000 × Return), exposing investor to up to 100% loss.
• Pricing economics: Issue price 100%; initial estimated value 96.724% ($967.24) due to internal funding rate and selling costs; underwriting commission 2%.
• Liquidity: No listing; secondary market, if any, only through Scotia Capital (USA) Inc.; prices may include a bid/ask spread and be below estimated value, especially after a ~4 month temporary reimbursement period.
• Key risks disclosed: contingent coupons may never be paid; full downside exposure below barrier; limited upside (no participation in Alphabet appreciation); credit risk of BNS; potential conflicts of interest; tax uncertainty (pre-paid derivative treatment assumed); FATCA / Section 871(m) considerations.
• Minimum purchase: $1,000 (integral multiples thereafter); CUSIP 06419DBD4.

Insights

Structured-Product Analyst

TL;DR – High coupon, high risk: unsecured notes with 70% barrier, full downside below.

The 10.25% contingent coupon looks attractive, but investors face several layered risks. Payments depend on Alphabet’s share price staying above 70% of $180.19 each quarter; any dip below eliminates that quarter’s income. Protection is only soft: if the note survives to maturity and GOOGL ends below the barrier, investors are directly exposed to the equity decline, potentially losing all principal. The issue is priced 3.3 points above BNS’s own value estimate, and liquidity relies solely on the underwriter. For yield-seeking investors comfortable with equity risk and BNS credit exposure, the product may complement a diversified portfolio, but it is unsuitable for capital-preservation mandates.

Portfolio Manager

TL;DR – Niche income play; limited upside, substantial tail risk and low liquidity.

This is effectively a 3-year blend of short OTM put and short call on GOOGL wrapped in BNS credit. The quarterly autocall may shorten duration, but reinvestment at similar yields could be challenging. From a portfolio perspective, exposure concentrates on a single megacap tech name; diversification benefits are minimal. The 70% barrier offers some cushion, yet historical drawdowns of GOOGL show multiple breaches. Given the unsecured nature, investors must also monitor BNS credit spreads. I classify the note as not materially impactful to BNS’s balance sheet but potentially high-impact to retail buyers if misused.

Form 144 Filer Information	UNITED STATES SECURITIES AND EXCHANGE COMMISSION Washington, D.C. 20549 Form 144 NOTICE OF PROPOSED SALE OF SECURITIES PURSUANT TO RULE 144 UNDER THE SECURITIES ACT OF 1933
FORM 144

144: Filer Information

Filer CIK
Filer CCC
Is this a LIVE or TEST Filing?	LIVE TEST
Submission Contact Information
Name
Phone
E-Mail Address

144: Issuer Information

Name of Issuer

SEC File Number

Address of Issuer

Phone

Name of Person for Whose Account the Securities are To Be Sold

See the definition of "person" in paragraph (a) of Rule 144. Information is to be given not only as to the person for whose account the securities are to be sold but also as to all other persons included in that definition. In addition, information shall be given as to sales by all persons whose sales are required by paragraph (e) of Rule 144 to be aggregated with sales for the account of the person filing this notice.

Relationship to Issuer

Relationship to Issuer

144: Securities Information

Title of the Class of Securities To Be Sold	Name and Address of the Broker	Number of Shares or Other Units To Be Sold	Aggregate Market Value	Number of Shares or Other Units Outstanding	Approximate Date of Sale	Name the Securities Exchange
Common	Merrill Lynch Pierce Fenner & Smith Inc. 110 N. Wacker Drive Floor 19 Chicago IL 60606	16800	672000.00	6115214	07/14/2025	NASDAQ

Furnish the following information with respect to the acquisition of the securities to be sold and with respect to the payment of all or any part of the purchase price or other consideration therefor:

144: Securities To Be Sold

Title of the Class	Date you Acquired	Nature of Acquisition Transaction	Name of Person from Whom Acquired	Is this a Gift?	Date Donor Acquired	Amount of Securities Acquired	Date of Payment	Nature of Payment *
Common	02/20/2017	Stock Option Exercise	Issuer			16800	07/14/2025	Cash

* If the securities were purchased and full payment therefor was not made in cash at the time of purchase, explain in the table or in a note thereto the nature of the consideration given. If the consideration consisted of any note or other obligation, or if payment was made in installments describe the arrangement and state when the note or other obligation was discharged in full or the last installment paid.

Furnish the following information as to all securities of the issuer sold during the past 3 months by the person for whose account the securities are to be sold.

144: Securities Sold During The Past 3 Months

Nothing to Report

144: Remarks and Signature

Remarks

Date of Notice

ATTENTION:

The person for whose account the securities to which this notice relates are to be sold hereby represents by signing this notice that he does not know any material adverse information in regard to the current and prospective operations of the Issuer of the securities to be sold which has not been publicly disclosed. If such person has adopted a written trading plan or given trading instructions to satisfy Rule 10b5-1 under the Exchange Act, by signing the form and indicating the date that the plan was adopted or the instruction given, that person makes such representation as of the plan adoption or instruction date.

Signature

ATTENTION: Intentional misstatements or omission of facts constitute Federal Criminal Violations (See 18 U.S.C. 1001)

FAQ

What is the coupon rate on BNS’s autocallable notes linked to GOOGL?

The notes pay a 10.25% annual contingent coupon ($25.625 per $1,000) only if Alphabet closes at or above $126.13 on each observation date.

When can the Bank of Nova Scotia notes be automatically called?

On any quarterly Call Observation Date, if GOOGL’s closing price is ≥ the Initial Value of $180.19, the notes are called at par plus the due coupon.

How much downside protection do investors have?

Protection is limited: at maturity, if GOOGL is below the 70% barrier ($126.13), investors lose principal in line with the share’s decline, up to 100% loss.

Why does the estimated value differ from the issue price?

BNS’s internal models put the initial value at $967.24 per $1,000 note; the 3.3% gap covers underwriting fees, hedging costs and issuer funding spread.

Are the notes insured by CDIC or FDIC?

No. They are unsecured, unsubordinated obligations of BNS and are not covered by CDIC, FDIC or any government insurance.

Will there be a secondary market for these notes?

Listing is not planned. Scotia Capital may make a market but is not obligated; prices may be below the estimated value and include bid/ask spread.