New Issue: Scotiabank sells $148.4 million Accelerated Return Notes on S&P 500

By Sarah Lizee

Olympia, Wash., Oct. 29 – Bank of Nova Scotia priced $148.4 million of 0% Accelerated Return Notes due Dec. 20, 2019 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 triple any index gain, subject to a capped return of 13.2%.

Investors will be exposed to any index decline.

BofA Merrill Lynch is the agent.

Issuer:	Bank of Nova Scotia
Issue:	Accelerated Return Notes
Underlying index:	S&P 500 index
Amount:	$148,404,670
Maturity:	Dec. 20, 2019
Coupon:	0%
Price:	Par of $10
Payout at maturity:	Par plus 300% of any index gain, capped at 13.2%; exposure to any index decline
Initial index level:	2,705.57
Final index level:	Average of index’s closing levels on five trading days ending Dec. 17, 2019
Pricing date:	Oct. 25
Settlement date:	Nov. 1
Underwriter:	BofA Merrill Lynch
Fees:	2%
Cusip:	06417P850

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