New Issue: Scotia prices $16.12 million Accelerated Return Notes linked to SPDR ETF

By William Gullotti

Buffalo, N.Y., Aug. 2 – Bank of Nova Scotia priced $16.12 million of 0% Accelerated Return Notes due Sept. 29, 2023 linked to the Financial Select Sector SPDR Fund, according to a 424B2 filing with the Securities and Exchange Commission.

The payout at maturity will be par of $10 plus triple any ETF gain, up to a maximum return of 23%. Investors will be exposed to any ETF decline.

BofA Securities, Inc. is the underwriter.

Issuer:	Bank of Nova Scotia
Issue:	Accelerated Return Notes
Underlying fund:	Financial Select Sector SPDR Fund
Amount:	$16,117,740
Maturity:	Sept. 29, 2023
Coupon:	0%
Price:	Par of $10
Payout at maturity:	Par plus triple any ETF gain, up to a maximum return of 23%; investors will be exposed to any ETF decline
Initial level:	$33.24
Pricing date:	July 28
Settlement date:	Aug. 4
Underwriter:	BofA Securities, Inc.
Fees:	1.75%
Cusip:	06418B595

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