New York, April 18 – Bank of Nova Scotia priced $10.07 million of contingent income autocallable securities due April 15, 2027 linked to the common stock of Citigroup Inc., according to a 424B2 filing with the Securities and Exchange Commission.
Investors will receive a coupon of 10.1%, payable quarterly if the shares close at or above the downside threshold, 70% of their initial level.
The securities will be called automatically starting July 12 at par and on any subsequent quarterly review date if the shares close at or above their initial level.
At maturity the payout will be par unless the stock closes below its downside threshold level in which case investors will be fully exposed to the decline of the stock.
Scotia Capital is the agent.
| Issuer: | Bank of Nova Scotia
|
| Issue: | Contingent income autocallable securities
|
| Underlying stock: | Citigroup Inc.
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| Amount: | $10,072,000
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| Maturity: | April 15, 2027
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| Coupon: | 10.1%, payable quarterly if shares close above downside threshold on related observation date
|
| Price: | Par
|
| Payout at maturity: | Par unless the stock closes below its downside threshold level in which case investors will be fully exposed to the decline in the stock
|
| Call: | Automatically starting July 12 at par and on any subsequent quarterly review date if shares close at or above initial level
|
| Initial level: | $59.68
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| Downside threshold: | $41.776, 70% of initial level
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| Pricing date: | April 12
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| Settlement date: | April 17
|
| Agent: | Scotia Capital
|
| Fees: | 2.25%
|
| Cusip: | 06417Y3E7
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