By Marisa Wong
Los Angeles, Dec. 29 – Bank of Nova Scotia priced $4.12 million of 0% Leveraged Index Return Notes due Dec. 27, 2024 linked to a global equity index basket, according to a 424B2 filing with the Securities and Exchange Commission.
The basket consists of approximately equal weights of the S&P 500 index, the Euro Stoxx 50 index and the MSCI Emerging Markets index.
The payout at maturity will be par plus 128.5% of any basket gain. Investors will be fully exposed to any basket decline.
The securities will be issued as sustainability bonds.
The issuer noted that the underlying indexes of the notes are not an ESG index. However, the issuer intends to use proceeds for financing or refinancing businesses or projects that meet eligibility criteria under the bank’s sustainable bond framework established in July.
BofA Securities, Inc. is the underwriter.
| Issuer: | Bank of Nova Scotia
|
| Issue: | Leveraged Index Return Notes (sustainability bonds)
|
| Underlying basket: | S&P 500 index (33.34% weight), Euro Stoxx 50 index (33.33%) and MSCI Emerging Markets index (33.33%)
|
| Amount: | $4,122,670
|
| Maturity: | Dec. 27, 2024
|
| Coupon: | 0%
|
| Price: | Par of $10
|
| Payout at maturity: | Par plus 128.5% of any basket gain; full exposure to losses
|
| Initial index level: | 4,696.56 for S&P, 4,217.06 for Euro Stoxx, 1,209.88 for MSCI EM
|
| Final index level: | Average of index’s closing levels on each of five trading days ending Dec. 19, 2024
|
| Pricing date: | Dec. 22
|
| Settlement date: | Jan. 3
|
| Underwriter: | BofA Securities, Inc.
|
| Fees: | 2.25%
|
| Cusip: | 06417X523
|
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