New Issue: Scotia sells $4.5 million contingent barrier digital notes on S&P 500

By Wendy Van Sickle

Columbus, Ohio, Jan. 9 – Bank of Nova Scotia priced $4.5 million of 0% contingent barrier digital notes due Jan. 10, 2024 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 or equal to 80% of the initial index level, the payout at maturity will be par plus 12.3%.

If the final index level is less than the 80% barrier value, investors will lose 1% for every 1% that the index declines from its initial level.

Scotia Capital (USA) Inc. is the agent with J.P. Morgan Securities LLC acting as the placement agent.

Issuer:	Bank of Nova Scotia
Issue:	Contingent barrier digital notes
Underlying index:	S&P 500 index
Amount:	$4,496,000
Maturity:	Jan. 10, 2024
Coupon:	0%
Price:	Par
Payout at maturity:	If final level is greater than or equal barrier level, par plus 12.3%; if final index level is less than barrier value, full exposure to losses of index
Initial level:	3,844.82
Barrier level:	3,075.86; 80% of initial level
Pricing date:	Dec. 23
Settlement date:	Dec. 29
Agents:	Scotia Capital (USA) Inc. with J.P. Morgan Securities LLC as placement agent
Fees:	1%
Cusip:	06417YCW7

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