New Issue: Scotiabank prices $64.15 million autocallable notes tied to Russell

By Marisa Wong

Los Angeles, Feb. 6 – Bank of Nova Scotia priced $64.15 million of 0% autocallable notes due Feb. 1, 2023 linked to the Russell 2000 index, according to a 424B2 filing with the Securities and Exchange Commission.

The notes will be automatically called at par plus a call premium if the index closes at or above the initial index level on either of two call observation dates. The call premium will be 8.2% for the first call observation date, Feb. 8, 2021, and 16.4% for the second call observation date, Jan. 31, 2022.

If the notes are not called and the index return is zero or positive, the payout at maturity will be $1,246 for each $1,000 of notes. Investors will be fully exposed to any index decline.

Scotia Capital (USA) Inc. is the underwriter with Goldman Sachs & Co. as dealer.

Issuer:	Bank of Nova Scotia
Issue:	Autocallable notes
Underlying index:	Russell 2000
Amount:	$64,154,000
Maturity:	Feb. 1, 2023
Coupon:	0%
Price:	Par of $1,000
Payout at maturity:	If the index finishes flat or gains, par plus 24.6%; otherwise, full exposure to losses
Call:	Automatically at par plus premium if index closes at or above initial index level on either of two call observation dates; premium is 8.2% for the first call observation date, Feb. 8, 2021, and 16.4% for the second call observation date, Jan. 31, 2022
Initial level:	1,648.219
Pricing date:	Jan. 30
Settlement date:	Feb. 6
Underwriter:	Scotia Capital (USA) Inc.
Dealer:	Goldman Sachs & Co.
Fees:	2.2%
Cusip:	064159SN7

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