By Angela McDaniels
Tacoma, Wash., June 27 – Bank of Nova Scotia priced $240,000 of autocallable contingent interest barrier notes due June 27, 2017 linked to the common stock of Facebook Inc., according to a 424B2 filing with the Securities and Exchange Commission.
Each quarter, the notes will pay a contingent coupon at a rate of 14% per year if Facebook stock closes at or above the barrier price, 80% of the initial share price, on the valuation date for that quarter.
If the stock finishes at or above the barrier price, the payout at maturity will be par plus the contingent coupon. Otherwise, investors will lose 1% for every 1% that the final share price is less than the initial share price.
Beginning June 24, 2015, the notes will be automatically called at par plus the contingent coupon if Facebook stock closes at or above the initial price on any quarterly valuation date.
Scotia Capital (USA) Inc. is the underwriter.
| Issuer: | Bank of Nova Scotia
|
| Issue: | Autocallable contingent interest barrier notes
|
| Underlying stock: | Facebook Inc. (Symbol: FB)
|
| Amount: | $240,000
|
| Maturity: | June 27, 2017
|
| Coupon: | Each quarter, notes pay contingent coupon at rate of 14% per year if Facebook stock closes at or above barrier price on valuation date for that quarter
|
| Price: | Par
|
| Payout at maturity: | If Facebook stock finishes at or above barrier price, par plus contingent coupon; otherwise, 1% loss for every 1% that final share price is less than initial share price
|
| Call: | Automatically at par plus contingent coupon if Facebook stock closes at or above initial price on any quarterly valuation date from June 24, 2015 onward
|
| Initial share price: | $67.44
|
| Barrier price: | 80% of initial share price
|
| Pricing date: | June 25
|
| Settlement date: | June 27
|
| Underwriter: | Scotia Capital (USA) Inc.
|
| Fees: | 3%
|
| Cusip: | 064159CM6
|
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