By William Gullotti
Buffalo, N.Y., April 1 – Bank of Nova Scotia priced $24.9 million of autocallable Strategic Accelerated Redemption Securities due April 2, 2029 linked to the performance of the Russell 2000 index, according to a 424B2 filing with the Securities and Exchange Commission.
The notes will be called at par plus an annualized call premium of 9.2% if the closing level of the index is equal to or greater than its initial level on any yearly observation date.
If the notes are not called and the index finishes at or above 85% of initial level, the payout at maturity will be par.
Otherwise, investors will lose 1% for every 1% that the index declines beyond 15%.
BofA Securities, Inc. is the agent.
| Issuer: | Bank of Nova Scotia
|
| Issue: | Autocallable Strategic Accelerated Redemption Securities
|
| Underlying index: | Russell 2000 index
|
| Amount: | $24,903,700
|
| Maturity: | April 2, 2029
|
| Coupon: | 0%
|
| Price: | Par of $10
|
| Payout at maturity: | If index finishes at or above threshold level, par; otherwise, 1% loss for every 1% decline beyond 15%
|
| Call: | Par plus 9.2% annualized call premium if the closing level of the index is equal to or greater than its initial level on any yearly observation date
|
| Initial level: | 2,114.349
|
| Threshold level: | 1,797.197; 85% of initial level
|
| Pricing date: | March 27
|
| Settlement date: | April 4
|
| Agent: | BofA Securities, Inc.
|
| Fees: | 2%
|
| Cusip: | 06418H410
|
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