New Issue: Scotia prices $3.8 million contingent buffer digital notes on SPDR S&P 500 ETF Trust

By William Gullotti

Buffalo, N.Y., March 14 – Bank of Nova Scotia priced $3.8 million of 0% contingent buffer digital notes due March 25, 2024 linked to the SPDR S&P 500 ETF Trust, according to a 424B2 filing with the Securities and Exchange Commission.

If the final ETF level is greater than or equal to its buffer value, 87% of initial level, the payout at maturity will be par plus 10%.

Otherwise, investors will receive a number of shares equal to $10,000 divided by the ETF’s buffer value.

Scotia Capital (USA) Inc. is the agent with J.P. Morgan Securities LLC acting as the placement agent.

Issuer:	Bank of Nova Scotia
Issue:	Contingent buffer digital notes
Underlying fund:	SPDR S&P 500 ETF Trust
Amount:	$3.8 million
Maturity:	March 25, 2024
Coupon:	0%
Price:	Par of $10,000
Payout at maturity:	If final level is greater than or equal buffer value, par plus 10%; otherwise, receive 28.8135 shares per note, representing approximately a 1.1494% loss for every 1% decline of the ETF beyond 13%
Initial level:	$398.92
Buffer value:	$347.06; 87% of initial level
Strike date:	March 8
Pricing date:	March 10
Settlement date:	March 15
Agents:	Scotia Capital (USA) Inc. with J.P. Morgan Securities LLC as placement agent
Fees:	1%
Cusip:	06417YFG9

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