New Issue: Scotiabank sells $3.25 million capped buffer gears linked to S&P 500

By Sarah Lizee

Olympia, Wash., May 4 – Bank of Nova Scotia priced $3.25 million of 0% capped buffer gears due April 29, 2022 linked to the S&P 500 index, according to a 424B2 filing with the Securities and Exchange Commission.

If the index return is greater than zero, the payout at maturity will be par of $10 plus 2 times the index return, capped at par plus 20.2%. Investors will receive par if the index declines by 10% or less and lose 1% for every 1% that the index declines beyond 10%.

Scotia Capital (USA) Inc. and UBS Financial Services Inc. are the agents.

Issuer:	Bank of Nova Scotia
Issue:	Capped buffer gears
Underlying index:	S&P 500
Amount:	$3,254,900
Maturity:	April 29, 2022
Coupon:	0%
Price:	Par of $10
Payout at maturity:	Par plus 2 times any index gain, capped at par plus 20.2%; par if the index declines by 10% or less; 1% loss for every 1% decline beyond 10%
Initial index level:	2,878.48
Downside threshold:	2,590.63, 90% of initial level
Pricing date:	April 27
Settlement date:	April 30
Agents:	Scotia Capital (USA) Inc. and UBS Financial Services Inc.
Fees:	2%
Cusip:	06417Q171

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