New Issue: Scotia sells $8.53 million capped buffered enhanced participation notes on Financial Select Sector SPDR

By Wendy Van Sickle

Columbus, Ohio, Feb. 9 – Bank of Nova Scotia priced $8.53 million of 0% capped buffered enhanced participation notes due Feb. 5, 2024 linked to the Financial Select Sector SPDR fund, according to a 424B2 filing with the Securities and Exchange Commission.

If the final fund level is greater than the initial level, the payout at maturity will be par plus 150% of the fund return, subject to a maximum settlement amount of $1,273.75 per $1,000 principal amount of notes.

Investors will receive par if the fund finishes flat or falls by up to 10% and will lose 1.1111% for each 1% fund decline beyond 10%.

Scotia Capital (USA) Inc. is the underwriter.

Issuer:	Bank of Nova Scotia
Issue:	Capped buffered enhanced participation notes
Underlying fund:	Financial Select Sector SPDR
Amount:	$8,525,000
Maturity:	Feb. 5, 2024
Coupon:	0%
Price:	Par
Payout at maturity:	Par plus 150% of any fund gain, up to maximum payout of $1,273.75 per $1,000 principal amount of notes; par if fund finishes flat or falls by up to 10%; 1.1111% loss for each 1% fund decline beyond 10%
Initial fund level:	$39.60
Buffer level:	90% of initial level
Pricing date:	Feb. 1
Settlement date:	Feb. 8
Agent:	Scotia Capital (USA) Inc.
Fees:	2%
Cusip:	0641597E0

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