New Issue: Scotiabank sells $6.47 million Strategic Accelerated Redemption Securities on basket

By William Gullotti

Buffalo, N.Y., May 16 – Bank of Nova Scotia priced $6.47 million of Strategic Accelerated Redemption Securities due June 1, 2026 linked to an equally weighted basket of stocks, according to a 424B2 filing with the Securities and Exchange Commission.

The basket consists of the stocks of Equinix, Inc. with a 33.34% weight, SBA Communications Corp. with a 33.33% weight and American Tower Corp. with a 33.33% weight.

The notes will be called at par plus an annualized call premium of 15.6% if the closing level of the basket is equal to or greater than its starting value on any yearly observation date.

If the notes are not called at maturity, investors will be fully exposed to the decline of the basket from its initial level.

BofA Securities, Inc. is the agent.

Issuer:	Bank of Nova Scotia
Issue:	Strategic Accelerated Redemption Securities
Underlying stocks:	Equinix, Inc. (33.34% weight), SBA Communications Corp. (33.33% weight), American Tower Corp. (33.33% weight)
Amount:	$6,465,700
Maturity:	June 1, 2026
Coupon:	0%
Price:	Par of $10
Payout at maturity:	Full exposure to loss if basket declines
Call:	Par plus 15.6% annualized call premium if the closing level of the basket is equal to or greater than its starting value on any yearly observation date
Initial levels:	$743.44 for Equinix, $233.05 for SBA, $195.69 for American Tower
Pricing date:	May 11
Settlement date:	May 17
Agent:	BofA Securities, Inc.
Fees:	2%
Cusip:	06418G644

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