By Wendy Van Sickle
Columbus, Ohio, Dec. 27 – Bank of Nova Scotia priced $22.44 million of 0% autocallable market-linked step-up notes due Dec. 18, 2020 linked to the Russell 2000 index, according to a 424B2 filing with the Securities and Exchange Commission.
If the index closes at or above its initial level on an annual observation date, the notes will be called at par plus a premium of 8.36% a year.
If the index finishes at or above the step-up level – 130% of the initial level – the payout at maturity will be par of $10 plus the index gain.
If the index gains by up to the step-up level, the payout will be par plus the step-up payment of 30%.
Investors will be exposed to any losses.
BofA Merrill Lynch is the agent.
| Issuer: | Bank of Nova Scotia
|
| Issue: | Autocallable market-linked step-up notes
|
| Underlying index: | Russell 2000
|
| Amount: | $22,440,230
|
| Maturity: | Dec. 18, 2020
|
| Coupon: | 0%
|
| Price: | Par of $10
|
| Call: | At par plus 8.36% per year if index closes at or above initial level on an annual observation date
|
| Payout at maturity: | If index finishes at or above the step-up level, par plus the index gain; if index finishes up to step-up level, par plus step-up payment of 30%; 1-to-1 exposure to losses
|
| Initial level: | 1,547.107
|
| Step-up level: | 2,011.239, 130% of initial level
|
| Pricing date: | Dec. 21
|
| Settlement date: | Dec. 29
|
| Underwriter: | BofA Merrill Lynch
|
| Fees: | 2%
|
| Cusip: | 064161763
|
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