New Issue: Scotiabank sells $56.53 million capped leveraged notes tied to S&P 500

By Marisa Wong

Morgantown, W.Va., May 3 – Bank of Nova Scotia priced $56.53 million of 0% notes due April 26, 2024 linked to the S&P 500 index, according to a 424B2 filed with the Securities and Exchange Commission.

The payout at maturity will be par of $10 plus 1.25 times any index gain, up to a maximum return of 51.38%.

If the index falls by up to 20%, the payout will be par plus the absolute value of the index return. Investors will lose 1% for every 1% decline beyond 20%.

BofA Merrill Lynch is the agent.

Issuer:	Bank of Nova Scotia
Issue:	Notes
Underlying index:	S&P 500
Amount:	$56,532,560
Maturity:	April 26, 2024
Coupon:	0%
Price:	Par of $10
Payout at maturity:	Par plus 125% of any index gain, subject to 51.38% maximum return; if index falls by up to 20%, par plus absolute value of index return; otherwise, 1% loss for every 1% decline beyond 20%
Initial index level:	2,926.17
Buffer level:	2,340.94, 80% of initial level
Pricing date:	April 25
Settlement date:	May 2
Agent:	BofA Merrill Lynch
Fees:	2.5%
Cusip:	06417P371

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