By Susanna Moon
Chicago, March 28 - Bank of Nova Scotia priced $450,000 of autocallable contingent interest barrier notes due March 28, 2017 linked to Apple Inc. shares, according to a 424B2 filing with the Securities and Exchange Commission.
The notes will pay a contingent quarterly coupon at an annual rate of 9% if the stock closes at or above the 80% barrier price on the valuation date for that quarter.
If the stock closes at or above the initial price on any quarterly valuation date beginning March 28, 2015, the notes will be called at par plus the contingent coupon.
If the stock finishes at or above the barrier price, the payout at maturity will be par plus the contingent interest payment.
Otherwise, investors will share in any losses.
Scotia Capital (USA) Inc. is the underwriter.
| Issuer: | Bank of Nova Scotia
|
| Issue: | Autocallable contingent interest barrier notes
|
| Underlying stock: | Apple Inc. (Symbol: AAPL)
|
| Amount: | $450,000
|
| Maturity: | March 28, 2017
|
| Coupon: | 9% annualized, if stock closes at or above 80% barrier level on quarterly interest payment date
|
| Price: | Par
|
| Payout at maturity: | Par if stock finishes at or above barrier level; otherwise, full exposure to losses
|
| Initial price: | $544.99
|
| Barrier level: | $435.992, 80% of initial price
|
| Trade date: | March 25
|
| Settlement date: | March 28
|
| Underwriter: | Scotia Capital (USA) Inc.
|
| Fees: | 2.5%
|
| Cusip: | 064159DS2
|
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