[Form 4] Atlassian Corporation Insider Trading Activity

Q: What is the annual yield on BNS’s Fixed Coupon Trigger Notes linked to NVDA?

The notes pay a 13.37% fixed annual coupon , or $334.25 per $10,000 principal each quarter.

Q: How much principal protection do these BNS notes offer?

Principal is repaid only if NVDA’s closing price on Jan 4 2027 is at least 80% of $153.30 ; otherwise investors receive NVDA shares worth less than 80% of principal.

Q: What happens at maturity if NVDA falls more than 20% from the initial price?

Investors receive approximately 65.21 NVDA shares per $10,000 note , exposing them to the full decline below the trigger level.

Q: Are the BNS NVDA-linked notes traded on an exchange?

No. The notes will not be listed ; any trading depends on discretionary market-making by GS&Co. or affiliates.

Q: Why is the initial estimated value ($9,741.90) below the $10,000 issue price?

The gap reflects BNS’s internal funding rate, selling commissions (1.12%) and hedging costs embedded in the product structure.

Filing Impact

(High)

Filing Sentiment

(Negative)

Form Type

Rhea-AI Filing Summary

Instrument overview: The Bank of Nova Scotia (BNS) is offering $2.1 million aggregate principal of Fixed Coupon Trigger Notes linked to the common stock of NVIDIA Corporation (NVDA). The notes settle T+5 on July 9 2025, pay a fixed coupon of $334.25 per $10,000 every quarter (13.37% p.a.) and mature on January 6 2027.

Key mechanics:

Initial price: $153.30 (NVDA close on the trade date).
Trigger price: 80% of initial price ($122.64). This is the sole principal-protection threshold.
Redemption: • If NVDA’s closing price on January 4 2027 ≥ trigger, investors receive 100% principal in cash plus final coupon. • If NVDA < trigger, investors receive NVDA shares equal to $10,000 / $153.30 ≈ 65.21 shares per note (cash for fractions). The value of that share package will be <80% of principal and falls one-for-one with further declines between valuation date and maturity.
Coupons: Paid unconditionally on six scheduled dates from Oct 3 2025 to Jan 6 2027; investors do not forego coupons even if the trigger breaches during the life of the note.

Pricing & distribution details: Issue price is 100% of principal. Underwriting commission is 1.12% ($112 per note); net proceeds 98.88%. The initial estimated value is $9,741.90 per $10,000, 2.58% below issue price, primarily due to BNS internal funding rate and dealer margins. Scotia Capital (USA) Inc. will distribute the notes to Goldman Sachs & Co. LLC, which may act as market-maker but has no obligation to provide liquidity.

Risk profile:

Market risk: Investors assume downside identical to owning NVDA once the 20% buffer is breached yet forego all upside beyond coupon stream.
Credit risk: Payments depend on BNS (senior unsecured). Notes are not CDIC or FDIC insured.
Valuation & liquidity: Secondary prices are expected to start near GS&Co.’s model value (issue price minus ~2.6%) and could be materially below principal; no exchange listing.
Tax: Complex U.S. treatment—coupons split between interest (5.82% p.a.) and put-option premium (7.55% p.a.); potential capital-gain taxation on maturity/ sale. Canadian withholding rules and “hybrid mismatch” provisions may also apply.

Use-case: Suitable only for investors seeking high fixed income over ~18 months, confident NVDA will not fall >20%, and comfortable with equity settlement, credit exposure to BNS, limited liquidity and no dividend participation.

Panoramica dello strumento: La Bank of Nova Scotia (BNS) offre un ammontare aggregato di 2,1 milioni di dollari in Fixed Coupon Trigger Notes legate alle azioni ordinarie di NVIDIA Corporation (NVDA). Le note saranno regolate a T+5 il 9 luglio 2025, pagano una cedola fissa di 334,25 $ per ogni 10.000 $ ogni trimestre (13,37% annuo) e scadono il 6 gennaio 2027.

Meccanismi principali:

Prezzo iniziale: 153,30 $ (prezzo di chiusura NVDA alla data di negoziazione).
Prezzo trigger: 80% del prezzo iniziale (122,64 $). Questa è la soglia unica per la protezione del capitale.
Rimborso: • Se il prezzo di chiusura NVDA al 4 gennaio 2027 ≥ trigger, gli investitori ricevono il 100% del capitale in contanti più la cedola finale. • Se NVDA < trigger, gli investitori ricevono azioni NVDA pari a 10.000 $ / 153,30 $ ≈ 65,21 azioni per nota (con pagamento in contanti per le frazioni). Il valore di questo pacchetto azionario sarà inferiore all'80% del capitale e si riduce proporzionalmente a ulteriori cali tra la data di valutazione e la scadenza.
Cedole: Pagate incondizionatamente in sei date programmate dal 3 ottobre 2025 al 6 gennaio 2027; gli investitori non perdono le cedole anche se il trigger viene superato durante la vita della nota.

Dettagli di prezzo e distribuzione: Il prezzo di emissione è il 100% del capitale. La commissione di sottoscrizione è dell'1,12% (112 $ per nota); il ricavo netto è del 98,88%. Il valore stimato iniziale è di 9.741,90 $ per 10.000 $, il 2,58% sotto il prezzo di emissione, principalmente a causa del tasso di finanziamento interno BNS e dei margini del dealer. Scotia Capital (USA) Inc. distribuirà le note a Goldman Sachs & Co. LLC, che può agire come market-maker ma senza obbligo di fornire liquidità.

Profilo di rischio:

Rischio di mercato: Gli investitori assumono un ribasso identico alla proprietà di NVDA una volta superata la soglia del 20%, ma rinunciano a qualsiasi rialzo oltre il flusso cedolare.
Rischio di credito: I pagamenti dipendono da BNS (obbligazioni senior non garantite). Le note non sono assicurate da CDIC o FDIC.
Valutazione e liquidità: I prezzi secondari dovrebbero partire vicino al valore modello di GS&Co. (prezzo di emissione meno circa 2,6%) e potrebbero essere significativamente inferiori al capitale; non sono quotate in borsa.
Fiscalità: Trattamento fiscale USA complesso—le cedole sono suddivise tra interesse (5,82% annuo) e premio dell'opzione put (7,55% annuo); possibile tassazione sulle plusvalenze a scadenza/vendita. Potrebbero applicarsi anche ritenute canadesi e disposizioni su “hybrid mismatch”.

Utilizzo consigliato: Adatto solo a investitori che cercano un reddito fisso elevato per circa 18 mesi, fiduciosi che NVDA non scenderà oltre il 20%, e che accettano la liquidazione in azioni, l’esposizione creditizia a BNS, la liquidità limitata e l’assenza di partecipazione ai dividendi.

Resumen del instrumento: El Bank of Nova Scotia (BNS) ofrece un principal agregado de 2,1 millones de dólares en Fixed Coupon Trigger Notes vinculados a las acciones comunes de NVIDIA Corporation (NVDA). Los bonos se liquidan a T+5 el 9 de julio de 2025, pagan un cupón fijo de 334,25 $ por cada 10.000 $ trimestralmente (13,37% anual) y vencen el 6 de enero de 2027.

Mecánicas clave:

Precio inicial: 153,30 $ (cierre de NVDA en la fecha de negociación).
Precio trigger: 80% del precio inicial (122,64 $). Este es el único umbral de protección del principal.
Redención: • Si el precio de cierre de NVDA el 4 de enero de 2027 ≥ trigger, los inversores reciben el 100% del principal en efectivo más el cupón final. • Si NVDA < trigger, los inversores reciben acciones de NVDA equivalentes a 10.000 $ / 153,30 $ ≈ 65,21 acciones por nota (efectivo para fracciones). El valor de ese paquete de acciones será inferior al 80% del principal y disminuirá proporcionalmente con futuras caídas entre la fecha de valoración y el vencimiento.
Cupones: Pagados incondicionalmente en seis fechas programadas desde el 3 de octubre de 2025 hasta el 6 de enero de 2027; los inversores no pierden los cupones aunque se supere el trigger durante la vida del bono.

Detalles de precio y distribución: El precio de emisión es el 100% del principal. La comisión de suscripción es del 1,12% (112 $ por nota); los ingresos netos son 98,88%. El valor estimado inicial es de 9.741,90 $ por 10.000 $, un 2,58% por debajo del precio de emisión, principalmente debido a la tasa interna de financiamiento de BNS y los márgenes del dealer. Scotia Capital (USA) Inc. distribuirá las notas a Goldman Sachs & Co. LLC, que puede actuar como creador de mercado pero no está obligado a proporcionar liquidez.

Perfil de riesgo:

Riesgo de mercado: Los inversores asumen una pérdida similar a poseer NVDA una vez que se rompe el colchón del 20%, pero renuncian a cualquier ganancia más allá del flujo de cupones.
Riesgo crediticio: Los pagos dependen de BNS (deuda senior no garantizada). Las notas no están aseguradas por CDIC o FDIC.
Valoración y liquidez: Se espera que los precios secundarios comiencen cerca del valor modelo de GS&Co. (precio de emisión menos ~2,6%) y podrían estar materialmente por debajo del principal; no cotizan en bolsa.
Fiscalidad: Tratamiento fiscal estadounidense complejo: los cupones se dividen entre interés (5,82% anual) y prima de opción put (7,55% anual); posible tributación por ganancias de capital en vencimiento/venta. También pueden aplicarse retenciones canadienses y disposiciones de “desajuste híbrido”.

Uso recomendado: Adecuado solo para inversores que buscan ingresos fijos altos durante aproximadamente 18 meses, confiados en que NVDA no caerá más del 20%, y cómodos con la liquidación en acciones, la exposición crediticia a BNS, la liquidez limitada y la ausencia de participación en dividendos.

상품 개요: 노바스코샤은행(BNS)은 NVIDIA Corporation(NVDA)의 보통주에 연계된 고정 쿠폰 트리거 노트 총 210만 달러 규모를 제공합니다. 이 노트는 2025년 7월 9일 T+5로 결제되며, 분기별로 10,000달러당 334.25달러의 고정 쿠폰(연 13.37%)을 지급하고 2027년 1월 6일에 만기됩니다.

주요 구조:

초기 가격: 153.30달러(NVDA 거래일 종가).
트리거 가격: 초기 가격의 80%(122.64달러). 이는 유일한 원금 보호 기준입니다.
상환: • 2027년 1월 4일 NVDA 종가가 트리거 가격 이상일 경우, 투자자는 원금 100%와 최종 쿠폰을 현금으로 수령합니다. • NVDA가 트리거 가격 미만일 경우, 투자자는 10,000달러 / 153.30달러 ≈ 65.21주의 NVDA 주식을 노트당 받으며(소수점 주식은 현금 지급), 해당 주식 가치는 원금의 80% 미만이며 평가일과 만기 사이 추가 하락 시 1:1 비율로 감소합니다.
쿠폰: 2025년 10월 3일부터 2027년 1월 6일까지 예정된 6회 날짜에 무조건 지급되며, 노트 기간 중 트리거가 깨져도 쿠폰 지급은 유지됩니다.

가격 및 배포 세부사항: 발행가는 원금의 100%입니다. 인수 수수료는 1.12%(노트당 112달러), 순수익률은 98.88%입니다. 초기 예상 가치는 10,000달러당 9,741.90달러로 발행가보다 2.58% 낮으며, 이는 주로 BNS 내부 자금 조달 비용과 딜러 마진 때문입니다. Scotia Capital(USA) Inc.가 Goldman Sachs & Co. LLC에 노트를 배포하며, GS는 시장 조성자 역할을 할 수 있으나 유동성 제공 의무는 없습니다.

위험 프로필:

시장 위험: 투자자는 20% 완충 구간이 깨지면 NVDA 주식을 보유하는 것과 동일한 하락 위험을 감수하며, 쿠폰 수익 외 추가 상승은 포기합니다.
신용 위험: 지급은 BNS(선순위 무담보채권)의 신용에 의존하며, CDIC 또는 FDIC 보험이 적용되지 않습니다.
평가 및 유동성: 2차 시장 가격은 GS&Co. 모델 가치(발행가 대비 약 2.6% 하락) 근처에서 시작할 것으로 예상되며, 원금 이하로 크게 떨어질 수 있고 거래소 상장은 없습니다.
세금: 미국 복잡한 과세 체계—쿠폰은 이자(연 5.82%)와 풋옵션 프리미엄(연 7.55%)으로 분리 과세되며, 만기 또는 매도 시 자본이득 과세 가능성 있음. 캐나다 원천징수 및 “하이브리드 미스매치” 규정도 적용될 수 있습니다.

적합한 투자자: 약 18개월 동안 높은 고정 수익을 추구하며 NVDA가 20% 이상 하락하지 않을 것으로 확신하고, 주식 정산, BNS 신용 노출, 제한된 유동성 및 배당 미참여를 감수할 수 있는 투자자에게 적합합니다.

Présentation de l’instrument : La Bank of Nova Scotia (BNS) propose un principal agrégé de 2,1 millions de dollars en Fixed Coupon Trigger Notes liées à l’action ordinaire de NVIDIA Corporation (NVDA). Les notes seront réglées en T+5 le 9 juillet 2025, versent un coupon fixe de 334,25 $ par tranche de 10 000 $ chaque trimestre (13,37 % par an) et arrivent à échéance le 6 janvier 2027.

Mécanismes clés :

Prix initial : 153,30 $ (cours de clôture NVDA à la date de transaction).
Prix déclencheur : 80 % du prix initial (122,64 $). C’est le seul seuil de protection du capital.
Remboursement : • Si le cours de clôture de NVDA le 4 janvier 2027 est ≥ au déclencheur, les investisseurs reçoivent 100 % du principal en espèces plus le coupon final. • Si NVDA est < au déclencheur, les investisseurs reçoivent des actions NVDA équivalentes à 10 000 $ / 153,30 $ ≈ 65,21 actions par note (paiement en espèces pour les fractions). La valeur de ce portefeuille d’actions sera inférieure à 80 % du principal et diminuera au prorata des baisses supplémentaires entre la date d’évaluation et l’échéance.
Coupons : Versés inconditionnellement à six dates programmées du 3 octobre 2025 au 6 janvier 2027 ; les investisseurs ne perdent pas les coupons même si le déclencheur est franchi pendant la durée de vie de la note.

Détails de tarification et distribution : Le prix d’émission est de 100 % du principal. La commission de souscription est de 1,12 % (112 $ par note) ; le produit net est de 98,88 %. La valeur estimée initiale est de 9 741,90 $ par tranche de 10 000 $, soit 2,58 % en dessous du prix d’émission, principalement en raison du taux de financement interne de BNS et des marges du courtier. Scotia Capital (USA) Inc. distribuera les notes à Goldman Sachs & Co. LLC, qui peut agir en tant que teneur de marché mais n’a aucune obligation de fournir de la liquidité.

Profil de risque :

Risque de marché : Les investisseurs supportent une baisse identique à la détention de NVDA une fois la marge de 20 % franchie, mais renoncent à tout potentiel de hausse au-delà des coupons.
Risque de crédit : Les paiements dépendent de BNS (dette senior non garantie). Les notes ne sont pas assurées par CDIC ou FDIC.
Valorisation et liquidité : Les prix secondaires devraient débuter près de la valeur modèle de GS&Co. (prix d’émission moins environ 2,6 %) et pourraient être nettement inférieurs au principal ; aucune cotation en bourse.
Fiscalité : Traitement fiscal américain complexe—les coupons sont divisés entre intérêts (5,82 % par an) et prime d’option put (7,55 % par an) ; possible imposition des plus-values à l’échéance/vente. Les règles canadiennes de retenue à la source et les dispositions sur les « hybrid mismatches » peuvent également s’appliquer.

Cas d’utilisation : Convient uniquement aux investisseurs recherchant un revenu fixe élevé sur environ 18 mois, confiants que NVDA ne chutera pas de plus de 20 %, et à l’aise avec un règlement en actions, une exposition au crédit de BNS, une liquidité limitée et l’absence de participation aux dividendes.

Instrumentenübersicht: Die Bank of Nova Scotia (BNS) bietet Fixed Coupon Trigger Notes mit einem Gesamtnennwert von 2,1 Millionen US-Dollar an, die an die Stammaktien der NVIDIA Corporation (NVDA) gekoppelt sind. Die Notes werden am 9. Juli 2025 mit T+5 abgewickelt, zahlen vierteljährlich einen festen Kupon von 334,25 $ pro 10.000 $ (13,37 % p.a.) und laufen am 6. Januar 2027 aus.

Wesentliche Mechanismen:

Startpreis: 153,30 $ (NVDA-Schlusskurs am Handelstag).
Triggerpreis: 80 % des Startpreises (122,64 $). Dies ist die einzige Schwelle für den Kapitalschutz.
Rückzahlung: • Liegt der NVDA-Schlusskurs am 4. Januar 2027 ≥ Trigger, erhalten Anleger 100 % des Kapitals in bar plus den letzten Kupon. • Liegt NVDA unter dem Trigger, erhalten Anleger NVDA-Aktien im Wert von 10.000 $ / 153,30 $ ≈ 65,21 Aktien pro Note (Bruchteile werden bar ausgezahlt). Der Wert dieses Aktienpakets liegt unter 80 % des Kapitals und fällt bei weiteren Kursrückgängen zwischen Bewertungsdatum und Fälligkeit eins zu eins.
Kupons: Werden bedingungslos an sechs geplanten Terminen vom 3. Oktober 2025 bis 6. Januar 2027 gezahlt; Anleger verlieren keine Kupons, selbst wenn der Trigger während der Laufzeit unterschritten wird.

Preis- und Vertriebsdetails: Der Ausgabepreis beträgt 100 % des Kapitals. Die Underwriting-Kommission beträgt 1,12 % (112 $ pro Note); der Nettoerlös liegt bei 98,88 %. Der geschätzte Anfangswert beträgt 9.741,90 $ pro 10.000 $, 2,58 % unter dem Ausgabepreis, hauptsächlich aufgrund des internen Finanzierungssatzes von BNS und der Händleraufschläge. Scotia Capital (USA) Inc. vertreibt die Notes an Goldman Sachs & Co. LLC, die als Market Maker auftreten kann, aber nicht verpflichtet ist, Liquidität bereitzustellen.

Risikoprofil:

Marktrisiko: Anleger tragen ein Abwärtsrisiko, das dem Halten von NVDA entspricht, sobald der 20%-Puffer unterschritten wird, verzichten jedoch auf jegliches Aufwärtspotenzial über den Kupon hinaus.
Kreditrisiko: Zahlungen hängen von BNS (Senior Unsecured) ab. Die Notes sind nicht durch CDIC oder FDIC versichert.
Bewertung & Liquidität: Sekundärpreise werden voraussichtlich nahe dem Modellwert von GS&Co. (Ausgabepreis minus ca. 2,6 %) starten und können deutlich unter dem Nominalwert liegen; keine Börsennotierung.
Steuern: Komplexe US-Steuerbehandlung—Kupons werden in Zinsen (5,82 % p.a.) und Put-Optionsprämien (7,55 % p.a.) aufgeteilt; mögliche Kapitalertragssteuer bei Fälligkeit/Verkauf. Kanadische Quellensteuerregeln und "Hybrid-Mismatch"-Vorschriften können ebenfalls gelten.

Einsatzbereich: Geeignet nur für Anleger, die über ca. 18 Monate hohe feste Erträge suchen, überzeugt sind, dass NVDA nicht mehr als 20 % fällt, und mit Aktienabwicklung, Kreditrisiko bei BNS, eingeschränkter Liquidität und fehlender Dividendenbeteiligung einverstanden sind.

Insights

TL;DR High coupon comes with equity downside, no upside, 20% buffer; neutral impact given modest size and typical risks.

Valuation: Issue price embeds a 2.6% premium over the bank’s model value, in line with peer offerings. Quarterly coupons equate to ~260 bp spread above the model discount, compensating investors for contingent risk.

Risk assessment: NVDA’s historical 1-year volatility (≈55%) means the 20% downside buffer offers limited protection; probability of breach is material. Because recovery is in shares, holders face basis risk between valuation and final settlement.

Issuer credit: BNS senior unsecured rating (A+/Aa2/A) mitigates credit concerns, but investors still rank pari passu and lack deposit insurance.

Liquidity: No listing; GS may make a market but bid/ask will reflect remaining premium amortisation until 1-Oct-2025, then pure model value. Expect notable mark-to-market swings driven by NVDA spot, vol and dividend changes.

TL;DR Product suits yield hunters comfortable with tech volatility; unsuitable for core fixed-income allocations.

The 13.37% headline yield is attractive versus IG corporates (~5-6%), yet real payout is capped and callable only at maturity. Investors relinquish all upside in one of the market’s most dynamic stocks while retaining tail risk—effectively short a put struck 20% out-of-the-money, financed by a bond coupon.

Given NVDA’s valuation sensitivity to AI spending cycles, the probability of a >20% drawdown within 18 months is meaningful. A direct NVDA share purchase paired with protective puts could replicate similar economics with greater flexibility, though at higher upfront cost.

Portfolio fit is tactical rather than strategic; consider position sizing small and monitor BNS credit spreads for early exit opportunities.

Meccanismi principali:

Prezzo iniziale: 153,30 $ (prezzo di chiusura NVDA alla data di negoziazione).
Prezzo trigger: 80% del prezzo iniziale (122,64 $). Questa è la soglia unica per la protezione del capitale.
Rimborso: • Se il prezzo di chiusura NVDA al 4 gennaio 2027 ≥ trigger, gli investitori ricevono il 100% del capitale in contanti più la cedola finale. • Se NVDA < trigger, gli investitori ricevono azioni NVDA pari a 10.000 $ / 153,30 $ ≈ 65,21 azioni per nota (con pagamento in contanti per le frazioni). Il valore di questo pacchetto azionario sarà inferiore all'80% del capitale e si riduce proporzionalmente a ulteriori cali tra la data di valutazione e la scadenza.
Cedole: Pagate incondizionatamente in sei date programmate dal 3 ottobre 2025 al 6 gennaio 2027; gli investitori non perdono le cedole anche se il trigger viene superato durante la vita della nota.

Profilo di rischio:

Rischio di mercato: Gli investitori assumono un ribasso identico alla proprietà di NVDA una volta superata la soglia del 20%, ma rinunciano a qualsiasi rialzo oltre il flusso cedolare.
Rischio di credito: I pagamenti dipendono da BNS (obbligazioni senior non garantite). Le note non sono assicurate da CDIC o FDIC.
Valutazione e liquidità: I prezzi secondari dovrebbero partire vicino al valore modello di GS&Co. (prezzo di emissione meno circa 2,6%) e potrebbero essere significativamente inferiori al capitale; non sono quotate in borsa.
Fiscalità: Trattamento fiscale USA complesso—le cedole sono suddivise tra interesse (5,82% annuo) e premio dell'opzione put (7,55% annuo); possibile tassazione sulle plusvalenze a scadenza/vendita. Potrebbero applicarsi anche ritenute canadesi e disposizioni su “hybrid mismatch”.

Mecánicas clave:

Precio inicial: 153,30 $ (cierre de NVDA en la fecha de negociación).
Precio trigger: 80% del precio inicial (122,64 $). Este es el único umbral de protección del principal.
Redención: • Si el precio de cierre de NVDA el 4 de enero de 2027 ≥ trigger, los inversores reciben el 100% del principal en efectivo más el cupón final. • Si NVDA < trigger, los inversores reciben acciones de NVDA equivalentes a 10.000 $ / 153,30 $ ≈ 65,21 acciones por nota (efectivo para fracciones). El valor de ese paquete de acciones será inferior al 80% del principal y disminuirá proporcionalmente con futuras caídas entre la fecha de valoración y el vencimiento.
Cupones: Pagados incondicionalmente en seis fechas programadas desde el 3 de octubre de 2025 hasta el 6 de enero de 2027; los inversores no pierden los cupones aunque se supere el trigger durante la vida del bono.

Perfil de riesgo:

Riesgo de mercado: Los inversores asumen una pérdida similar a poseer NVDA una vez que se rompe el colchón del 20%, pero renuncian a cualquier ganancia más allá del flujo de cupones.
Riesgo crediticio: Los pagos dependen de BNS (deuda senior no garantizada). Las notas no están aseguradas por CDIC o FDIC.
Valoración y liquidez: Se espera que los precios secundarios comiencen cerca del valor modelo de GS&Co. (precio de emisión menos ~2,6%) y podrían estar materialmente por debajo del principal; no cotizan en bolsa.
Fiscalidad: Tratamiento fiscal estadounidense complejo: los cupones se dividen entre interés (5,82% anual) y prima de opción put (7,55% anual); posible tributación por ganancias de capital en vencimiento/venta. También pueden aplicarse retenciones canadienses y disposiciones de “desajuste híbrido”.

주요 구조:

초기 가격: 153.30달러(NVDA 거래일 종가).
트리거 가격: 초기 가격의 80%(122.64달러). 이는 유일한 원금 보호 기준입니다.
상환: • 2027년 1월 4일 NVDA 종가가 트리거 가격 이상일 경우, 투자자는 원금 100%와 최종 쿠폰을 현금으로 수령합니다. • NVDA가 트리거 가격 미만일 경우, 투자자는 10,000달러 / 153.30달러 ≈ 65.21주의 NVDA 주식을 노트당 받으며(소수점 주식은 현금 지급), 해당 주식 가치는 원금의 80% 미만이며 평가일과 만기 사이 추가 하락 시 1:1 비율로 감소합니다.
쿠폰: 2025년 10월 3일부터 2027년 1월 6일까지 예정된 6회 날짜에 무조건 지급되며, 노트 기간 중 트리거가 깨져도 쿠폰 지급은 유지됩니다.

위험 프로필:

시장 위험: 투자자는 20% 완충 구간이 깨지면 NVDA 주식을 보유하는 것과 동일한 하락 위험을 감수하며, 쿠폰 수익 외 추가 상승은 포기합니다.
신용 위험: 지급은 BNS(선순위 무담보채권)의 신용에 의존하며, CDIC 또는 FDIC 보험이 적용되지 않습니다.
평가 및 유동성: 2차 시장 가격은 GS&Co. 모델 가치(발행가 대비 약 2.6% 하락) 근처에서 시작할 것으로 예상되며, 원금 이하로 크게 떨어질 수 있고 거래소 상장은 없습니다.
세금: 미국 복잡한 과세 체계—쿠폰은 이자(연 5.82%)와 풋옵션 프리미엄(연 7.55%)으로 분리 과세되며, 만기 또는 매도 시 자본이득 과세 가능성 있음. 캐나다 원천징수 및 “하이브리드 미스매치” 규정도 적용될 수 있습니다.

Mécanismes clés :

Prix initial : 153,30 $ (cours de clôture NVDA à la date de transaction).
Prix déclencheur : 80 % du prix initial (122,64 $). C’est le seul seuil de protection du capital.
Remboursement : • Si le cours de clôture de NVDA le 4 janvier 2027 est ≥ au déclencheur, les investisseurs reçoivent 100 % du principal en espèces plus le coupon final. • Si NVDA est < au déclencheur, les investisseurs reçoivent des actions NVDA équivalentes à 10 000 $ / 153,30 $ ≈ 65,21 actions par note (paiement en espèces pour les fractions). La valeur de ce portefeuille d’actions sera inférieure à 80 % du principal et diminuera au prorata des baisses supplémentaires entre la date d’évaluation et l’échéance.
Coupons : Versés inconditionnellement à six dates programmées du 3 octobre 2025 au 6 janvier 2027 ; les investisseurs ne perdent pas les coupons même si le déclencheur est franchi pendant la durée de vie de la note.

Profil de risque :

Risque de marché : Les investisseurs supportent une baisse identique à la détention de NVDA une fois la marge de 20 % franchie, mais renoncent à tout potentiel de hausse au-delà des coupons.
Risque de crédit : Les paiements dépendent de BNS (dette senior non garantie). Les notes ne sont pas assurées par CDIC ou FDIC.
Valorisation et liquidité : Les prix secondaires devraient débuter près de la valeur modèle de GS&Co. (prix d’émission moins environ 2,6 %) et pourraient être nettement inférieurs au principal ; aucune cotation en bourse.
Fiscalité : Traitement fiscal américain complexe—les coupons sont divisés entre intérêts (5,82 % par an) et prime d’option put (7,55 % par an) ; possible imposition des plus-values à l’échéance/vente. Les règles canadiennes de retenue à la source et les dispositions sur les « hybrid mismatches » peuvent également s’appliquer.

Wesentliche Mechanismen:

Startpreis: 153,30 $ (NVDA-Schlusskurs am Handelstag).
Triggerpreis: 80 % des Startpreises (122,64 $). Dies ist die einzige Schwelle für den Kapitalschutz.
Rückzahlung: • Liegt der NVDA-Schlusskurs am 4. Januar 2027 ≥ Trigger, erhalten Anleger 100 % des Kapitals in bar plus den letzten Kupon. • Liegt NVDA unter dem Trigger, erhalten Anleger NVDA-Aktien im Wert von 10.000 $ / 153,30 $ ≈ 65,21 Aktien pro Note (Bruchteile werden bar ausgezahlt). Der Wert dieses Aktienpakets liegt unter 80 % des Kapitals und fällt bei weiteren Kursrückgängen zwischen Bewertungsdatum und Fälligkeit eins zu eins.
Kupons: Werden bedingungslos an sechs geplanten Terminen vom 3. Oktober 2025 bis 6. Januar 2027 gezahlt; Anleger verlieren keine Kupons, selbst wenn der Trigger während der Laufzeit unterschritten wird.

Risikoprofil:

Marktrisiko: Anleger tragen ein Abwärtsrisiko, das dem Halten von NVDA entspricht, sobald der 20%-Puffer unterschritten wird, verzichten jedoch auf jegliches Aufwärtspotenzial über den Kupon hinaus.
Kreditrisiko: Zahlungen hängen von BNS (Senior Unsecured) ab. Die Notes sind nicht durch CDIC oder FDIC versichert.
Bewertung & Liquidität: Sekundärpreise werden voraussichtlich nahe dem Modellwert von GS&Co. (Ausgabepreis minus ca. 2,6 %) starten und können deutlich unter dem Nominalwert liegen; keine Börsennotierung.
Steuern: Komplexe US-Steuerbehandlung—Kupons werden in Zinsen (5,82 % p.a.) und Put-Optionsprämien (7,55 % p.a.) aufgeteilt; mögliche Kapitalertragssteuer bei Fälligkeit/Verkauf. Kanadische Quellensteuerregeln und "Hybrid-Mismatch"-Vorschriften können ebenfalls gelten.

07/03/2025 - 03:58 PM

SEC Form 4

FORM 4

UNITED STATES SECURITIES AND EXCHANGE COMMISSION
Washington, D.C. 20549

STATEMENT OF CHANGES IN BENEFICIAL OWNERSHIP

Filed pursuant to Section 16(a) of the Securities Exchange Act of 1934
or Section 30(h) of the Investment Company Act of 1940

OMB APPROVAL

OMB Number:			3235-0287
Estimated average burden
hours per response:			0.5

Check this box if no longer subject to Section 16. Form 4 or Form 5 obligations may continue. See Instruction 1(b).

Check this box to indicate that a transaction was made pursuant to a contract, instruction or written plan for the purchase or sale of equity securities of the issuer that is intended to satisfy the affirmative defense conditions of Rule 10b5-1(c). See Instruction 10.

1. Name and Address of Reporting Person^*

Farquhar Scott

(Last)

(First)

(Middle)

C/O ATLASSIAN CORPORATION

350 BUSH STREET, FLOOR 13

(Street)

SAN FRANCISCO

94104

(City)

(State)

(Zip)

2. Issuer Name and Ticker or Trading Symbol
Atlassian Corp [ TEAM ]

5. Relationship of Reporting Person(s) to Issuer
(Check all applicable)

X	Director	X	10% Owner
	Officer (give title below)		Other (specify below)

3. Date of Earliest Transaction (Month/Day/Year)
07/03/2025

4. If Amendment, Date of Original Filed (Month/Day/Year)

6. Individual or Joint/Group Filing (Check Applicable Line)

X	Form filed by One Reporting Person
	Form filed by More than One Reporting Person

Table I - Non-Derivative Securities Acquired, Disposed of, or Beneficially Owned
1. Title of Security (Instr. 3)	2. Transaction Date (Month/Day/Year)	2A. Deemed Execution Date, if any (Month/Day/Year)	3. Transaction Code (Instr. 8)		4. Securities Acquired (A) or Disposed Of (D) (Instr. 3, 4 and 5)			5. Amount of Securities Beneficially Owned Following Reported Transaction(s) (Instr. 3 and 4)	6. Ownership Form: Direct (D) or Indirect (I) (Instr. 4)	7. Nature of Indirect Beneficial Ownership (Instr. 4)
1. Title of Security (Instr. 3)	2. Transaction Date (Month/Day/Year)	2A. Deemed Execution Date, if any (Month/Day/Year)	Code	V	Amount	(A) or (D)	Price		6. Ownership Form: Direct (D) or Indirect (I) (Instr. 4)	7. Nature of Indirect Beneficial Ownership (Instr. 4)
Class A Common Stock	07/03/2025		S⁽¹⁾		400	D	$210.7493⁽²⁾	474,830	I	See Footnote⁽³⁾
Class A Common Stock	07/03/2025		S⁽¹⁾		2,350	D	$215.0317⁽⁴⁾	472,480	I	See Footnote⁽³⁾
Class A Common Stock	07/03/2025		S⁽¹⁾		300	D	$209.8326⁽⁵⁾	472,180	I	See Footnote⁽³⁾
Class A Common Stock	07/03/2025		S⁽¹⁾		600	D	$215.8925⁽⁶⁾	471,580	I	See Footnote⁽³⁾
Class A Common Stock	07/03/2025		S⁽¹⁾		300	D	$211.935⁽⁷⁾	471,280	I	See Footnote⁽³⁾
Class A Common Stock	07/03/2025		S⁽¹⁾		1,615	D	$213.2662⁽⁸⁾	469,665	I	See Footnote⁽³⁾
Class A Common Stock	07/03/2025		S⁽¹⁾		2,100	D	$214.2849⁽⁹⁾	467,565	I	See Footnote⁽³⁾

Table II - Derivative Securities Acquired, Disposed of, or Beneficially Owned (e.g., puts, calls, warrants, options, convertible securities)
1. Title of Derivative Security (Instr. 3)	2. Conversion or Exercise Price of Derivative Security	3. Transaction Date (Month/Day/Year)	3A. Deemed Execution Date, if any (Month/Day/Year)	4. Transaction Code (Instr. 8)		5. Number of Derivative Securities Acquired (A) or Disposed of (D) (Instr. 3, 4 and 5)		6. Date Exercisable and Expiration Date (Month/Day/Year)		7. Title and Amount of Securities Underlying Derivative Security (Instr. 3 and 4)		8. Price of Derivative Security (Instr. 5)	9. Number of derivative Securities Beneficially Owned Following Reported Transaction(s) (Instr. 4)	10. Ownership Form: Direct (D) or Indirect (I) (Instr. 4)	11. Nature of Indirect Beneficial Ownership (Instr. 4)
1. Title of Derivative Security (Instr. 3)	2. Conversion or Exercise Price of Derivative Security	3. Transaction Date (Month/Day/Year)	3A. Deemed Execution Date, if any (Month/Day/Year)	Code	V	(A)	(D)	Date Exercisable	Expiration Date	Title	Amount or Number of Shares	8. Price of Derivative Security (Instr. 5)		10. Ownership Form: Direct (D) or Indirect (I) (Instr. 4)	11. Nature of Indirect Beneficial Ownership (Instr. 4)

Explanation of Responses:

1. This transaction was effected pursuant to a Rule 10b5-1 trading plan adopted by the Reporting Person on February 12, 2025.

2. This transaction was executed in multiple trades during the day at prices ranging from $210.48 to $211.34. The weighted-average price is reported above. The Reporting Person hereby undertakes to provide upon request to the SEC staff, the issuer or a security holder of the issuer full information regarding the number of shares and prices at which the transactions were effected.

3. Shares are held by Farquhar Investment Partnership No. 2.

4. This transaction was executed in multiple trades during the day at prices ranging from $214.65 to $215.62. The weighted-average price is reported above. The Reporting Person hereby undertakes to provide upon request to the SEC staff, the issuer or a security holder of the issuer full information regarding the number of shares and prices at which the transactions were effected.

5. This transaction was executed in multiple trades during the day at prices ranging from $209.42 to $210.37. The weighted-average price is reported above. The Reporting Person hereby undertakes to provide upon request to the SEC staff, the issuer or a security holder of the issuer full information regarding the number of shares and prices at which the transactions were effected.

6. This transaction was executed in multiple trades during the day at prices ranging from $215.75 to $216.17. The weighted-average price is reported above. The Reporting Person hereby undertakes to provide upon request to the SEC staff, the issuer or a security holder of the issuer full information regarding the number of shares and prices at which the transactions were effected.

7. This transaction was executed in multiple trades during the day at prices ranging from $211.55 to $212.38. The weighted-average price is reported above. The Reporting Person hereby undertakes to provide upon request to the SEC staff, the issuer or a security holder of the issuer full information regarding the number of shares and prices at which the transactions were effected.

8. This transaction was executed in multiple trades during the day at prices ranging from $212.63 to $213.62. The weighted-average price is reported above. The Reporting Person hereby undertakes to provide upon request to the SEC staff, the issuer or a security holder of the issuer full information regarding the number of shares and prices at which the transactions were effected.

9. This transaction was executed in multiple trades during the day at prices ranging from $213.65 to $214.64. The weighted-average price is reported above. The Reporting Person hereby undertakes to provide upon request to the SEC staff, the issuer or a security holder of the issuer full information regarding the number of shares and prices at which the transactions were effected.

Remarks:

	/s/ Veena Bhatia, Attorney-in-Fact for Farquhar Scott	07/03/2025
	** Signature of Reporting Person	Date
Reminder: Report on a separate line for each class of securities beneficially owned directly or indirectly.
* If the form is filed by more than one reporting person, see Instruction 4 (b)(v).
** Intentional misstatements or omissions of facts constitute Federal Criminal Violations See 18 U.S.C. 1001 and 15 U.S.C. 78ff(a).
Note: File three copies of this Form, one of which must be manually signed. If space is insufficient, see Instruction 6 for procedure.
Persons who respond to the collection of information contained in this form are not required to respond unless the form displays a currently valid OMB Number.

Source: View Original Filing on SEC EDGAR

FAQ

What is the annual yield on BNS’s Fixed Coupon Trigger Notes linked to NVDA?

The notes pay a 13.37% fixed annual coupon, or $334.25 per $10,000 principal each quarter.

How much principal protection do these BNS notes offer?

Principal is repaid only if NVDA’s closing price on Jan 4 2027 is at least 80% of $153.30; otherwise investors receive NVDA shares worth less than 80% of principal.

What happens at maturity if NVDA falls more than 20% from the initial price?

Investors receive approximately 65.21 NVDA shares per $10,000 note, exposing them to the full decline below the trigger level.

Are the BNS NVDA-linked notes traded on an exchange?

No. The notes will not be listed; any trading depends on discretionary market-making by GS&Co. or affiliates.

Why is the initial estimated value ($9,741.90) below the $10,000 issue price?

The gap reflects BNS’s internal funding rate, selling commissions (1.12%) and hedging costs embedded in the product structure.

[Form 4] Atlassian Corporation Insider Trading Activity

Insights

FAQ

What is the annual yield on BNS’s Fixed Coupon Trigger Notes linked to NVDA?

How much principal protection do these BNS notes offer?

What happens at maturity if NVDA falls more than 20% from the initial price?

Are the BNS NVDA-linked notes traded on an exchange?

Why is the initial estimated value ($9,741.90) below the $10,000 issue price?

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[Form 4] Atlassian Corporation Insider Trading Activity

Insights

Structured Products Analyst neutral

Multi-Asset Portfolio Manager neutral

FAQ

What is the annual yield on BNS’s Fixed Coupon Trigger Notes linked to NVDA?

How much principal protection do these BNS notes offer?

What happens at maturity if NVDA falls more than 20% from the initial price?

Are the BNS NVDA-linked notes traded on an exchange?

Why is the initial estimated value ($9,741.90) below the $10,000 issue price?

NASDAQ:TEAM

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TEAM Latest SEC Filings

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