New Issue: Scotiabank sells $2.89 million autocallable notes linked to MSCI EAFE

By Kiku Steinfeld

Chicago, April 6 – Bank of Nova Scotia priced $2.89 million of 0% autocallable notes due March 14, 2023 linked to the MSCI EAFE index, according to a 424B2 with the Securities and Exchange Commission.

The notes will be automatically called at par plus a call premium of 10% if the index closes at or above its initial level on March 18, 2022.

If the notes are not called and the index finishes above its initial level, the payout at maturity will be par plus 1.5 times the index return, capped at $1,600 per $1,000 of notes. Investors will be fully exposed to any index decline.

Scotia Capital (USA) Inc. is the underwriter.

Issuer:	Bank of Nova Scotia
Issue:	Autocallable notes
Underlying index:	MSCI EAFE
Amount:	$2,885,000
Maturity:	March 14, 2023
Coupon:	0%
Price:	Par
Call:	Automatically at par plus 10% if the index closes at or above its initial level on March 18, 2022
Payout at maturity:	If the index finishes above initial level, par plus 1.5 times the index return, capped at $1,600 per $1,000 of notes, full exposure to losses of index
Initial level:	2,202.80
Pricing date:	March 10
Settlement date:	March 17
Underwriter:	Scotia Capital (USA) Inc.
Fees:	1.95%
Cusip:	064159U38

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