New Issue: Scotia prices $20.65 million accelerated return notes linked to basket of airline stocks

By William Gullotti

Buffalo, N.Y., Aug. 31 – Bank of Nova Scotia priced $20.65 million of 0% Accelerated Return Notes due Oct. 28, 2022 linked to a stock basket, according to a 424B2 filing with the Securities and Exchange Commission.

The basket consists of the common stocks of JetBlue Airways Corp., Delta Air Lines, Inc. and Southwest Airlines Co., each with a weight of 33.33%.

The payout at maturity will be par of $10 plus triple any basket gain, up to a maximum return of 31.2%. Investors will be exposed to any basket decline.

BofA Securities, Inc. is the underwriter.

Issuer:	Bank of Nova Scotia
Issue:	Accelerated Return Notes
Underlying stocks:	JetBlue Airways Corp., Delta Air Lines, Inc. and Southwest Airlines Co., each with 33.33% weight
Amount:	$20,653,910
Maturity:	Oct. 28, 2022
Coupon:	0%
Price:	Par of $10
Payout at maturity:	Par plus triple any basket gain, up to a maximum return of 31.2%; lose 1% for every 1% of basket decline from initial level
Initial stock levels:	$15.17 for JetBlue, $40.77 for Delta, $50.27 for Southwest
Pricing date:	Aug. 26
Settlement date:	Sept. 3
Underwriter:	BofA Securities, Inc.
Fees:	1.75%
Cusip:	06417X879

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