By Marisa Wong
Los Angeles, Oct. 13 – Bank of Nova Scotia priced $20.98 million of 0% trigger autocallable contingent yield notes due Oct. 13, 2023 linked to the Nasdaq-100 index, according to a 424B2 filing with the Securities and Exchange Commission.
The notes will pay a contingent quarterly coupon at an annual rate of 8% if the index closes at or above its coupon barrier, 70% of its initial level, on the related quarterly observation date.
The notes will be called at par plus the coupon if the index closes at or above its initial level on any quarterly observation date prior to the final valuation date.
The payout at maturity will be par plus the coupon unless the index finishes below the 70% downside threshold, in which case investors will lose 1% for each 1% decline of the index from its initial level.
Scotia Capital (USA) Inc. and UBS Financial Services Inc. are the agents.
Issuer: | Bank of Nova Scotia
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Issue: | Trigger autocallable contingent yield notes
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Underlying index: | Nasdaq-100 index
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Amount: | $20,981,730
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Maturity: | Oct. 13, 2023
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Coupon: | 8%, payable each quarter that the index closes at or above coupon barrier on observation date for that quarter
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Price: | Par of $10
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Call: | At par plus coupon if the index closes at or above initial level on any quarterly observation date prior to final valuation date
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Payout at maturity: | Par plus coupon if index closes above downside threshold; otherwise 1% for each 1% decline of index from initial level
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Initial level: | 11,725.85
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Coupon barrier: | 8,208.10, 70% of initial level
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Downside threshold: | 8,208.10, 70% of initial level
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Pricing date: | Oct. 9
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Settlement date: | Oct. 15
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Agents: | Scotia Capital (USA) Inc. and UBS Financial Services Inc.
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Fees: | 2%
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Cusip: | 06417Q270
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