By Sarah Lizee
Olympia, Wash., July 21 – Bank of Nova Scotia priced $3.37 million of 0% market-linked autocallable securities with fixed percentage buffered downside due July 24, 2024 linked to the VanEck Vectors Gold Miners ETF, 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% per year if the fund closes at or above the initial fund level on any of four 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.
| Issuer: | Bank of Nova Scotia
|
| Issue: | Market-linked autocallable securities with fixed-percentage buffered downside
|
| Underlying fund: | VanEck Vectors Gold Miners ETF
|
| Amount: | $3,373,000
|
| Maturity: | July 24, 2024
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| Coupon: | 0%
|
| Price: | Par
|
| Payout at maturity: | Par unless fund falls by more than 10% in which case exposure to losses beyond 10%
|
| Call: | Automatically at par plus 9% per year fixed call premium if the fund closes at or above the initial fund level on any of four annual call observation dates
|
| Initial level: | $39.31
|
| Threshold level: | $35.379, 90% of initial level
|
| Pricing date: | July 17
|
| Settlement date: | July 22
|
| Underwriter: | Scotia Capital (USA) Inc.
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| Dealer: | Wells Fargo Securities, LLC
|
| Fees: | 2.075%
|
| Cusip: | 064159US3
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