Chicago, Sept. 1 – Bank of Nova Scotia priced $28.52 million of trigger autocallable contingent yield notes due Sept. 3, 2025 linked to the S&P 500 index, according to a 424B2 filing with the Securities and Exchange Commission.
The notes will pay a contingent quarterly coupon at the rate of 10% per year if the index closes at or above the coupon barrier, 75% of the initial level, on the corresponding observation date.
The notes will be automatically called at par of $10 plus the coupon if the index closes at or above its initial level on any quarterly observation date after six months.
If the notes are not called and the final level is greater than or equal to the threshold level, 75% of the initial level, the payout at maturity will be par. Otherwise, investors will lose 1% for every 1% that the final level is less than the initial level.
UBS Financial Services Inc. and Scotia Capital (USA) Inc. are the agents.
| Issuer: | Bank of Nova Scotia
|
| Issue: | Trigger autocallable contingent yield notes
|
| Underlying index: | S&P 500 index
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| Amount: | $28,520,970
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| Maturity: | Sept. 3, 2025
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| Contingent coupon: | 10% annual rate, payable quarterly if each index closes at or above coupon barrier level on related quarterly observation date
|
| Price: | Par of $10
|
| Payout at maturity: | If index’s final level is greater than or equal to threshold level, par; otherwise, 1% loss for every 1% decline from initial level
|
| Call: | Automatically at par plus coupon if index closes at or above initial level on any quarterly observation date after six months
|
| Initial price: | 4,030.61
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| Coupon barrier: | 3,022.96; 75% of initial price
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| Threshold level | 3,022.96; 75% of initial price
|
| Pricing date: | Aug. 29
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| Settlement date: | Aug. 31
|
| Agents: | UBS Financial Services Inc. and Scotia Capital (USA) Inc.
|
| Fees: | 2%
|
| Cusip: | 06417U321
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