New Issue: Scotiabank prices $1.12 million digital notes linked to SPDR ETF

By William Gullotti

Buffalo, N.Y., March 21 – Bank of Nova Scotia priced $1.12 million of 0% digital notes due April 15, 2025 linked to the SPDR S&P 500 ETF Trust, according to a 424B2 filing with the Securities and Exchange Commission.

If the ETF finishes at or above its 94.15% threshold level, the payout at maturity will be $1,058.50 per $1,000 principal amount of notes.

If the ETF finishes below its threshold level but at or above its 80% buffer level, the payout will be par plus the absolute value of the ETF’s return.

Otherwise, investors will lose 1% for each 1% decline beyond 20%.

Scotia Capital (USA) Inc. is the agent. Goldman Sachs & Co. LLC is the dealer.

Issuer:	Bank of Nova Scotia
Issue:	Digital notes
Underlying fund:	SPDR S&P 500 ETF Trust
Amount:	$1,123,000
Maturity:	April 15, 2025
Coupon:	0%
Price:	Par
Payout at maturity:	If the ETF finishes at or above threshold level, $1,058.50 per $1,000 principal amount; if the ETF finishes below threshold level but at or above buffer level, par plus absolute value of ETF return; otherwise, 1% loss for each 1% decline beyond 20%
Initial level:	$511.72
Threshold level:	94.15% of initial level
Buffer level:	80% of initial level
Pricing date:	March 8
Settlement date:	March 13
Agent:	Scotia Capital (USA) Inc.
Dealer:	Goldman Sachs & Co. LLC
Fees:	0.43%
Cusip:	06418LAY2

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