New Issue: Scotiabank prices $1 million capped notes linked to the S&P 500

Chicago, May 25 – Bank of Nova Scotia priced $1 million of 0% capped notes due Jan. 18, 2024 linked to the S&P 500 index, according to a 424B2 filed with the Securities and Exchange Commission.

If the index return is positive, the payout at maturity will be par plus the index return, subject to a maximum payout of par plus 20%.

If the index declines, but not more than 20%, investors will be exposed to losses with a minimum payout of $950 per $1,000 note.

Otherwise, investors will lose 1.1875% for each 1% loss of the index beyond 20% from $950 per note.

Scotia Capital (USA) Inc. is the agent.

Issuer:	Bank of Nova Scotia
Issue:	Capped notes
Underlying index:	S&P 500 index
Amount:	$1,000,000
Maturity:	Jan. 18, 2024
Coupon:	0%
Price:	Par
Payout at maturity:	Par plus any index gain, capped at par plus 20%; if index declines but not more than 20%, investors will be exposed to losses with a minimum payout of $950; if the index declines more than 20% investors will lose 1.1875% for each 1% loss beyond 20% from $950 per note
Initial level:	4,605.38
Threshold level:	80% of initial level
Pricing date:	Oct. 29, 2021
Settlement date:	Nov. 5, 2021
Agent:	Scotia Capital (USA) Inc.
Fees:	1.93%
Cusip:	0641595V4

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