New Issue: Scotia prices $3.81 million trigger autocallable contingent yield notes on indexes

By Wendy Van Sickle

Columbus, Ohio, May 4 – Bank of Nova Scotia priced $3.81 million of trigger autocallable contingent yield notes with memory interest due Oct. 31, 2024 linked to the least performing of the S&P 500 index and the MSCI Emerging Markets index, according to a 424B2 filing with the Securities and Exchange Commission.

The notes will pay a contingent quarterly coupon at the rate of 12.6% per year if each index closes at or above its coupon barrier, 80% of its initial level, on the related observation date, plus any previously unpaid coupon.

The notes will be automatically called at par plus coupon if the shares of each index close at or above its initial share price on any quarterly call observation date after six months.

If the notes are not called and the worst performer finishes at or above its downside threshold level, 80% of the initial share price, the payout at maturity will be par plus the final coupon. Otherwise, investors will lose 1% for every 1% that the final share price of the least performing index is less than its initial share price.

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

Issuer:	Bank of Nova Scotia
Issue:	Trigger autocallable contingent yield notes with memory interest
Underlying indexes:	MSCI Emerging Markets index, S&P 500 index
Amount:	$3,805,000
Maturity:	Oct. 31, 2024
Coupon:	12.6% per year, paid quarterly, if each index closes at or above its coupon barrier on any related observation date, plus any previously unpaid coupon
Price:	Par
Payout at maturity:	Par plus final coupon if each index finishes at or above coupon barrier level; otherwise, 1% loss for each 1% decline of laggard index from initial level
Call:	Automatically at par plus coupon if each index closes at or above initial level on any quarterly call observation date after six months
Initial levels:	977.05 for MSCI Emerging Markets, 4,169.48 for S&P 500
Coupon barrier levels:	781.64 for MSCI Emerging Markets, 3,335.58 for S&P 500; 80% of initial levels
Downside thresholds:	781.64 for MSCI Emerging Markets, 3,335.58 for S&P 500; 80% of initial levels
Pricing date:	April 28
Settlement date:	May 3
Agents:	Scotia Capital (USA) Inc. and UBS Financial Services Inc.
Fees:	0%
Cusip:	06418A837

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