By Sarah Lizee
Olympia, Wash., Dec. 24 – Bank of Nova Scotia priced $12.65 million of 0% market-linked step-up notes due Dec. 16, 2021 tied to the FTSE 100 index, according to a 424B2 filing with the Securities and Exchange Commission.
If the notes are not called and the index finishes above the step-up value, 129.1% of the initial level, the payout at maturity will be par plus the index gain.
If the index finishes at or below the step-up level but at or above the initial level, the payout will be par plus the step-up payment of 29.1%.
Investors will be fully exposed to any index decline.
BofA Securities, Inc. is the agent.
| Issuer: | Bank of Nova Scotia
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| Issue: | Market-linked step-up notes
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| Underlying index: | FTSE 100 index
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| Amount: | $12.65 million
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| Maturity: | Dec. 16, 2021
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| Coupon: | 0%
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| Price: | Par of $10
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| Payout at maturity: | If the index finishes above the step-up value, par plus the index gain; if the index finishes at or below the step-up level but at or above the initial level, par plus 29.1%; full exposure to losses
|
| Initial index level: | 7,239.66
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| Step-up value: | 9,346.40, 129.1% of initial value
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| Pricing date: | Dec. 6
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| Settlement date: | Dec. 13
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| Agent: | BofA Securities, Inc.
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| Fees: | 2%
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| Cusip: | 06417Q585
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