By Wendy Van Sickle
Columbus, Ohio, Dec. 21 – Bank of Nova Scotia priced $16 million of 7.6% airbag autocallable yield notes due Dec. 8, 2022 linked to the common stock of the Citigroup Inc., according to a 424B2 filing with the Securities and Exchange Commission.
Interest is payable monthly.
The notes will be automatically called at par if the shares close at or above the initial share price on any quarterly observation date.
The payout at maturity will be par unless the final share price is less than the conversion price, 90% of the initial share price, in which case the payout will be a number of the shares equal to $1,000 divided by the conversion price.
Scotia Capital (USA) Inc. and UBS Financial Services Inc. are the agents.
| Issuer: | Bank of Nova Scotia
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| Issue: | Airbag autocallable yield notes
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| Underlying stock: | Citigroup Inc.
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| Amount: | $16 million
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| Maturity: | Dec. 8, 2022
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| Coupon: | 7.6%, payable monthly
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| Price: | Par
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| Payout at maturity: | Par unless final share price is less than conversion price, in which case 17.7054 shares of Citigroup
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| Call: | Automatically at par if shares close at or above initial share price on any quarterly observation date
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| Initial share price: | $62.76
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| Conversion price: | $56.48; 90% of initial share price
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| Pricing date: | Dec. 3
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| Settlement date: | Dec. 8
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| Agents: | Scotia Capital (USA) Inc. and UBS Financial Services Inc.
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| Fees: | 1.5%
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| Cusip: | 06417T720
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