By William Gullotti
Buffalo, N.Y., Feb. 23 – Bank of Nova Scotia priced $7.03 million of trigger autocallable contingent yield notes due Feb. 19, 2027 linked to the Russell 2000 index, according to a 424B2 filing with the Securities and Exchange Commission.
The notes will pay a contingent quarterly coupon at an annual rate of 8.1% if the index closes at or above its coupon barrier, 75% of its initial level, on the relevant observation date.
The notes will be called at par of $10 plus the contingent coupon if the index closes at or above its initial level on any quarterly observation date after six months.
The payout at maturity will be par plus the final coupon if the index finishes at or above the 75% downside threshold level.
Otherwise, investors will lose 1% for every 1% of index decline from its initial level.
UBS Financial Services Inc. and Scotia Capital (USA) Inc. are the agents.
| Issuer: | Bank of Nova Scotia
|
| Issue: | Trigger autocallable contingent yield notes
|
| Underlying index: | Russell 2000 index
|
| Amount: | $7,032,000
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| Maturity: | Feb. 19, 2027
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| Coupon: | 8.1% annual rate, payable quarterly if the index closes at or above coupon barrier on quarterly observation date
|
| Price: | Par of $10
|
| Payout at maturity: | Par plus final coupon if the index finishes at or above downside threshold; otherwise, 1% loss for each 1% decline from initial level
|
| Call: | At par plus coupon if the index closes at or above initial level on any quarterly observation date after six months
|
| Initial index level: | 2,032.744
|
| Coupon barrier level: | 1,524.558; 75% of initial level
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| Downside threshold: | 1,524.558; 75% of initial level
|
| Pricing date: | Feb. 16
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| Settlement date: | Feb. 22
|
| Agents: | UBS Financial Services Inc. and Scotia Capital (USA) Inc.
|
| Fees: | 2%
|
| Cusip: | 06418H345
|
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