By Wendy Van Sickle
Columbus, Ohio, April 24 – Bank of Nova Scotia priced $7.88 million of autocallable Strategic Accelerated Redemption Securities due May 2, 2025 linked to a basket of stocks, according to a 424B2 filing with the Securities and Exchange Commission.
The basket consists of SPDR Gold with a 50% weight and iShares Silver trust with a 50% weight.
The notes will be called at par plus an annualized call premium of 14.7% if the closing level of the basket is equal to or greater than its starting value on any quarterly observation date after six months.
If the notes are not called at maturity, investors will be fully exposed to the decline of the basket.
BofA Securities, Inc. is the agent.
| Issuer: | Bank of Nova Scotia
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| Issue: | Autocallable Strategic Accelerated Redemption Securities
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| Underlying stocks: | SPDR Gold (50% weight), iShares Silver trust (50% weight)
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| Amount: | $7,879,290
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| Maturity: | May 2, 2025
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| Coupon: | 0%
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| Price: | Par of $10
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| Payout at maturity: | Full exposure to loss if basket declines
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| Call: | Par plus 14.7% annualized call premium if the closing level of the basket is equal to or greater than its starting value on any quarterly observation date after six months
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| Initial levels: | $220.34 for Gold, $25.86 for iShares Silver trust
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| Pricing date: | April 18
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| Settlement date: | April 25
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| Agent: | BofA Securities, Inc.
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| Fees: | 1.25%
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| Cusip: | 06418H758
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