Scotia plans market-linked autocalls with buffered downside on ETF

By Sarah Lizee

Olympia, Wash., Jan. 15 – Bank of Nova Scotia plans to price 0% market-linked autocallable securities with fixed percentage buffered downside due Feb. 6, 2023 linked to the VanEck Vectors Gold Miners exchange-traded fund, according to a 424B2 filing with the Securities and Exchange Commission.

The notes will be automatically called at par plus a fixed call premium of 9% to 10% per year if the fund closes at or above the initial fund level on any of three annual call observation dates.

The payout at maturity will be par unless the fund falls by more than 10% in which case investors will be exposed to losses beyond the 10% buffer.

Scotia Capital Inc. (USA) is the agent and Wells Fargo Securities, LLC is the dealer.

The notes will price on Jan. 31.

The Cusip number is 064159SK3.

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