New York, March 28 – Bank of Nova Scotia priced $19.2 million of contingent income autocallable securities due March 25, 2027 linked to the common stock of Ford Motor Co., according to a 424B2 filing with the Securities and Exchange Commission.
Investors will receive a coupon of 11.1%, paid quarterly, if the underlying stock closes at or above its 60% downside threshold on the related quarterly observation date.
The securities will be called automatically starting June 24 at par and on any subsequent quarterly review date if the stock closes at or above its initial level.
At maturity the payout will be par unless the stock closes below its downside threshold level in which case investors will be fully exposed to the decline of the stock.
Scotia Capital is the agent.
| Issuer: | Bank of Nova Scotia
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| Issue: | Contingent income autocallable securities
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| Underlying stock: | Ford Motor Co.
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| Amount: | $19,201,000
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| Maturity: | March 25, 2027
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| Coupon: | 11.1%, paid quarterly, if the underlying stock closes at or above its downside threshold on the related quarterly observation date
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| Price: | Par
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| Payout at maturity: | Par unless the stock closes below its downside threshold level in which case investors will be fully exposed to the decline in the stock
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| Call: | Automatically starting June 24 at par and on any subsequent quarterly review date if stock closes at or above initial level
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| Initial level: | $12.91
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| Downside threshold: | $7.746, 60% of initial level
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| Pricing date: | March 22
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| Settlement date: | March 27
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| Agent: | Scotia Capital
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| Fees: | 2.25%
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| Cusip: | 06417Y2F5
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