By William Gullotti
Buffalo, N.Y., Nov. 29 – Bank of Nova Scotia priced $9.52 million of 0% autocallable notes due Nov. 27, 2026 linked to the S&P 500 index, according to a 424B2 with the Securities and Exchange Commission.
The notes will be automatically called at par plus a call premium of 7.95% per year if the index closes at or above its initial level on any quarterly call valuation date after one year.
If the notes are not called and the index finishes at or above its 90% trigger level, the payout will be par plus 23.85%.
Otherwise, investors will lose 1% for every 1% decline of the index from its initial level.
Scotia Capital (USA) Inc. is the underwriter. Simon Markets LLC, a broker-dealer affiliated with Goldman Sachs & Co. LLC, is the dealer.
| Issuer: | Bank of Nova Scotia
|
| Issue: | Autocallable notes
|
| Underlying index: | S&P 500 index
|
| Amount: | $9,515,000
|
| Maturity: | Nov. 27, 2026
|
| Coupon: | 0%
|
| Price: | Par
|
| Payout at maturity: | If the index finishes at or above trigger level, par plus 23.85%; otherwise, 1% loss for every 1% decline from initial level
|
| Call: | Automatically at par plus 7.95% per year if the index closes at or above its initial level on any quarterly call valuation date after one year
|
| Initial level: | 4,559.34
|
| Trigger level: | 4,103.406; 90% of initial level
|
| Pricing date: | Nov. 24
|
| Settlement date: | Dec. 1
|
| Underwriter: | Scotia Capital (USA) Inc.
|
| Dealer: | Simon Markets LLC
|
| Fees: | 3%
|
| Cusip: | 06417YXC8
|
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