Chicago, Jan. 29 – Bank of Nova Scotia sold $2.14 million of 9.25% autocallable fixed-coupon trigger notes due Feb. 24, 2025 linked to the common stock of Wells Fargo & Co., according to a 424B2 filing with the Securities and Exchange Commission.
Coupons will be paid monthly.
The notes will be automatically called if the stock closes above its initial level on any monthly call observation date starting after six months.
Investors will receive par if the stock closes above 80% of its initial level.
Otherwise, investors will be fully exposed to the losses of any stock, paid in stock.
Scotia Capital (USA) Inc. is the agent and Goldman Sachs & Co. LLC is the dealer.
| Issuer: | Bank of Nova Scotia
|
| Issue: | Autocallable fixed-coupon trigger notes
|
| Underlying stock: | Wells Fargo & Co.
|
| Amount: | $2,141,000
|
| Maturity: | Feb. 24, 2025
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| Coupon: | 9.25% annual rate, payable monthly
|
| Price: | Par
|
| Payout at maturity: | Par if stock closes above trigger level; otherwise, full exposure to decline paid in shares
|
| Call: | Automatically at par if stock closes above initial level on any monthly observation date starting after six months
|
| Initial level: | $48.12
|
| Trigger level: | 80% of initial level
|
| Pricing date: | Jan. 19
|
| Settlement date: | Jan. 24
|
| Agent: | Scotia Capital (USA) Inc.
|
| Dealer: | Goldman Sachs & Co. LLC
|
| Fees: | 2.15%
|
| Cusip: | 06417YE70
|
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