New Issue: Scotia sells $3.64 million capped buffered enhanced participation notes on S&P 500

By William Gullotti

Buffalo, N.Y., July 14 – Bank of Nova Scotia priced $3.64 million of 0% capped buffered enhanced participation notes due Dec. 6, 2023 linked to the S&P 500 index, according to a 424B2 filing with the Securities and Exchange Commission.

If the final index level is greater than the initial level, the payout at maturity will be par plus 170% of the index return, subject to a maximum settlement amount of $1,222.70 per $1,000 principal amount of notes.

Investors will receive par if the index finishes flat or falls by up to 15% and will lose 1.1765% for each 1% index decline beyond 15%.

Scotia Capital (USA) Inc. is the underwriter with Simon Markets LLC as dealer.

Issuer:	Bank of Nova Scotia
Issue:	Capped buffered enhanced participation notes
Underlying index:	S&P 500
Amount:	$3,636,000
Maturity:	Dec. 6, 2023
Coupon:	0%
Price:	Par
Payout at maturity:	Par plus 170% of any index gain, up to maximum payout of $1,222.70 per $1,000 principal amount of notes; par if index finishes flat or falls by up to 15%; 1.1765% loss for each 1% index decline beyond 15%
Initial index level:	3,854.43
Buffer level:	85% of initial level
Pricing date:	July 11
Settlement date:	July 18
Agent:	Scotia Capital (USA) Inc. with Simon Markets LLC as dealer
Fees:	None
Cusip:	06416DBN5

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