By Wendy Van Sickle
Columbus, Ohio, March 12 – Bank of Nova Scotia priced $6.3 million of autocallable market-linked step-up notes due Feb. 27, 2026 linked to the VanEck Vectors Gold Miners ETF, according to a 424B2 filing with the Securities and Exchange Commission.
The notes will be called at par of $10 plus an annualized call premium of 11.25% if the ETF closes at or above the initial level on any annual observation date.
If the notes are not called and the ETF finishes above the step-up value, 150% of the initial level, the payout at maturity will be par plus the ETF gain.
If the ETF finishes at or below the step-up level but at or above the initial level, the payout will be par plus the step-up return of 50%.
Investors will receive par if the ETF falls by up to 15% and will lose 1% for every 1% ETF decline beyond 15%.
BofA Securities, Inc. is the agent.
Issuer: | Bank of Nova Scotia
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Issue: | Autocallable market-linked step-up notes
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Underlying ETF: | VanEck Vectors Gold Miners
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Amount: | $6,301,950
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Maturity: | Feb. 27, 2026
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Coupon: | 0%
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Price: | Par of $10
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Payout at maturity: | If ETF finishes above step-up level, par plus ETF gain; if ETF finishes at or above initial level but at or below step-up level, par plus 50%; par if ETF falls by up to 15%; 1% loss for each 1% ETF decline beyond 15%
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Call: | At par plus 11.25% per year if ETF closes at or above its initial level on any annual observation date
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Initial level: | $32.33
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Step-up level: | $48.50, 150% of initial level
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Threshold level: | $27.48, 85% of initial level
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Pricing date: | Feb. 25
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Settlement date: | March 4
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Agent: | BofA Securities, Inc.
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Fees: | 2%
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Cusip: | 06417V691
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