Chicago, April 5 – Bank of Nova Scotia priced $2.66 million of market-linked securities – autocallable with fixed percentage buffered downside due March 24, 2025 linked to the Materials Select Sector SPDR fund, according to a 424B2 filing with the Securities and Exchange Commission.
The notes will be called at par plus an annual call premium of 7% if the fund closes at or above the initial level on any annual observation date.
If the notes are not called and the fund finishes above 90% of the initial level, the payout at maturity will be par.
Otherwise, investors will lose 1% for every 1% fund decline beyond 10%.
Scotia Capital (USA) Inc. and Wells Fargo Securities, LLC are the agents.
| Issuer: | Bank of Nova Scotia
|
| Issue: | Market-linked securities – autocallable with fixed percentage buffered downside
|
| Underlying fund: | Materials Select Sector SPDR fund
|
| Amount: | $2,663,000
|
| Maturity: | March 24, 2025
|
| Coupon: | 0%
|
| Price: | Par
|
| Payout at maturity: | If fund finishes above buffer level, par; 1% loss for each 1% fund decline beyond 10%
|
| Call: | At par plus 7% per year if fund closes at or above its initial level on any annual observation date
|
| Initial level: | $78.83
|
| Buffer level: | $70.947, 90% of initial level
|
| Pricing date: | March 17
|
| Settlement date: | March 22
|
| Agents: | Scotia Capital (USA) Inc. and Wells Fargo Securities, LLC
|
| Fees: | 2.825%
|
| Cusip: | 064159T55
|
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