New Issue: Scotia prices $10.12 million Accelerated Return Notes on S&P 500

By William Gullotti

Buffalo, N.Y., Oct. 18 – Bank of Nova Scotia priced $10.12 million of 0% Accelerated Return Notes due Dec. 29, 2023 linked to the S&P 500 index, according to a 424B2 filing with the Securities and Exchange Commission.

The payout at maturity will be par of $10 plus triple any index gain, up to a maximum return of 17.75%. Investors will be exposed to any index decline.

BofA Securities, Inc. is the underwriter.

Issuer:	Bank of Nova Scotia
Issue:	Accelerated Return Notes
Underlying index:	S&P 500 index
Amount:	$10,115,460
Maturity:	Dec. 29, 2023
Coupon:	0%
Price:	Par of $10
Payout at maturity:	Par plus triple any index gain, up to a maximum return of 17.75%; investors will be exposed to any index decline
Initial level:	Lowest closing level on any trading day from Oct. 13 to Nov. 14; cannot be greater than 3,669.91
Final level:	Average of index’s closing levels on five trading days ending Dec. 26, 2023
Pricing date:	Oct. 13
Settlement date:	Oct. 20
Underwriter:	BofA Securities, Inc.
Fees:	1.75%
Cusip:	06418B173

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