New Issue: Scotia prices $5.35 million trigger absolute return step securities tied to S&P 500

By Wendy Van Sickle

Columbus, Ohio, Feb. 29 – Bank of Nova Scotia priced $5.35 million of 0% trigger absolute return step securities due Feb. 28, 2029 linked to the S&P 500 index, according to a 424B2 filing with the Securities and Exchange Commission.

If the index return is zero or positive, the payout at maturity will be par of $10 plus the greater of the index return and the step return of 24.4%.

Investors will gain 1% for each 1% loss if the index declines by 25% or less and will lose 1% for each 1% decline from its initial level if the index falls more than 25%.

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

Issuer:	Bank of Nova Scotia
Issue:	Trigger absolute return step securities
Underlying index:	S&P 500 index
Amount:	$5,350,600
Maturity:	Feb. 28, 2029
Coupon:	0%
Price:	Par of $10
Payout at maturity:	If index return is zero or positive, par plus greater of 24.4% and return; if index declines by up to 25%, par plus absolute value of index return; otherwise, 1% loss for each 1% that the final level of the index is less than its initial level
Initial level:	5,069.53
Downside threshold:	3,802.15; 75% of initial level
Pricing date:	Feb. 27
Settlement date:	Feb. 29
Agents:	Scotia Capital (USA) Inc. and UBS Financial Services Inc.
Fees:	3.5%
Cusip:	06418H386

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