New Issue: Scotia prices $7.15 million market-linked step-up notes on S&P

By Sarah Lizee

Olympia, Wash., March 6 – Bank of Nova Scotia priced $7.15 million of 0% market-linked step-up notes due Feb. 28, 2022 tied to the S&P 500 index, according to a 424B2 filing with the Securities and Exchange Commission.

If the notes are not called and the index finishes above the step-up value, 112.68% of the initial level, the payout at maturity will be par plus the index gain.

If the index finishes at or below the step-up level but at or above the initial level, the payout will be par plus the step-up payment of 12.68%.

Investors will be fully exposed to any index decline.

BofA Securities, Inc. is the agent.

Issuer:	Bank of Nova Scotia
Issue:	Market-linked step-up notes
Underlying index:	S&P 500
Amount:	$7,147,390
Maturity:	Feb. 28, 2022
Coupon:	0%
Price:	Par of $10
Payout at maturity:	If the index finishes above the step-up value, par plus the index gain; if the index finishes at or below the step-up level but at or above the initial level, par plus 12.68%; full exposure to losses
Initial index level:	2,978.76
Step-up value:	3,356.47, 112.68% of initial value
Pricing date:	Feb. 27
Settlement date:	March 5
Agent:	BofA Securities, Inc.
Fees:	2%
Cusip:	06417Q452

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