New Issue: Scotiabank sells $70.77 million capped notes with absolute return buffer on S&P 500

By William Gullotti

Buffalo, N.Y., March 5 – Bank of Nova Scotia priced $70.77 million of 0% capped notes with absolute return buffer due April 25, 2025 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 8.75%, investors will receive par plus the absolute value of the index return.

Otherwise, investors will lose 1% for every 1% decline beyond 8.75%.

BofA Securities, Inc. is the agent.

Issuer:	Bank of Nova Scotia
Issue:	Capped notes with absolute return buffer
Underlying index:	S&P 500
Amount:	$70,774,070
Maturity:	April 25, 2025
Coupon:	0%
Price:	Par of $10
Payout at maturity:	Par plus any index gain, capped at par plus 10%; if index falls by up to 8.75%, par plus absolute value of index return; otherwise, 1% loss for every 1% decline below 8.75%
Initial value:	5,096.27
Threshold value:	4,650.35; 91.25% of initial value
Pricing date:	Feb. 29
Settlement date:	March 7
Agent:	BofA Securities, Inc.
Fees:	1.75%
Cusip:	06418J721

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