New Issue: Scotiabank prices $699,290 market-linked step-up notes on Euro Stoxx 50

By William Gullotti

Buffalo, N.Y., June 28 – Bank of Nova Scotia priced $699,290 of 0% market-linked step-up notes due Aug. 31, 2023 tied to the Euro Stoxx 50 index, according to a 424B2 filing with the Securities and Exchange Commission.

If the index finishes above the step-up value, 119.5% of the initial value, the payout at maturity will be par plus the index return.

If the index return is zero or positive but the index finishes at or below the step-up value, the payout will be par plus the step-up payment of 19.5%.

Investors will be fully exposed to any decline of the index.

BofA Securities, Inc. is the underwriter.

Issuer:	Bank of Nova Scotia
Issue:	Market-linked step-up notes
Underlying index:	Euro Stoxx 50 index
Amount:	$699,290
Maturity:	Aug. 31, 2023
Coupon:	0%
Price:	Par of $10
Payout at maturity:	If index finishes above step-up value, par plus index return; if index stays flat or gains but finishes at or below step-up value, par plus 19.5%; full exposure to any index decline
Initial level:	3,436.29
Step-up value:	4,106.37; 119.5% of initial value
Pricing date:	June 23
Settlement date:	June 30
Underwriter:	BofA Securities, Inc.
Fees:	1.75%
Cusip:	06418B686

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