New Issue: Scotia prices $2.48 million trigger gears linked to S&P 500

By William Gullotti

Buffalo, N.Y., Jan. 24 – Bank of Nova Scotia priced $2.48 million of 0% trigger gears due Dec. 30, 2027 linked to the S&P 500 index, according to a 424B2 filing with the Securities and Exchange Commission.

If the index return is greater than zero, the payout at maturity will be par of $10 plus 1.345 times the return.

Investors will receive par if the index declines by 25% or less and will be fully exposed to the index’s decline from its initial level if it declines by more than 25%.

Scotia Capital (USA) Inc. and UBS Financial Services Inc. are the agents.

Issuer:	Bank of Nova Scotia
Issue:	Trigger gears
Underlying index:	S&P 500
Amount:	$2,475,860
Maturity:	Dec. 30, 2027
Coupon:	0%
Price:	Par of $10
Payout at maturity:	Par plus 1.345 times any gain; par if index declines but final index level is greater than or equal to downside threshold; otherwise, full exposure to index’s decline from initial level
Initial index level:	3,783.22
Downside threshold:	2,837.42; 75% of initial level
Pricing date:	Dec. 28
Settlement date:	Dec. 30
Agents:	Scotia Capital (USA) Inc. and UBS Financial Services Inc.
Fees:	None
Cusip:	06417U875

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