New Issue: Scotiabank sells $29.16 million capped notes with absolute return buffer on S&P 500

By Wendy Van Sickle

Columbus, Ohio, May 2 – Bank of Nova Scotia priced $29.16 million of 0% capped notes with absolute return buffer due June 28, 2024 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 any index gain, capped at par plus 10%.

If the index finishes flat or falls by up to 13.85%, investors will receive par plus the absolute value of the index return.

Otherwise, investors will lose 1% for every 1% decline beyond 13.85%.

BofA Securities, Inc. is the agent.

Issuer:	Bank of Nova Scotia
Issue:	Capped notes with absolute return buffer
Underlying index:	S&P 500
Amount:	$29,162,370
Maturity:	June 28, 2024
Coupon:	0%
Price:	Par of $10
Payout at maturity:	Par plus any index gain, capped at 10%; if index falls by up to 13.85%, par plus absolute value of index return; otherwise, 1% loss for every 1% decline below 13.85%
Initial value:	4,135.35
Threshold value:	3,562.6; 86.15% of initial value
Pricing date:	April 27
Settlement date:	May 4
Agent:	BofA Securities, Inc.
Fees:	1.75%
Cusip:	06418G834

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