Scotiabank to price market-linked autocalls tied to gold ETF

By Sarah Lizee

Olympia, Wash., Aug. 28 – Bank of Nova Scotia plans to price 0% market-linked securities – autocallable with fixed percentage buffered downside due Sept. 6, 2022 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 call premium of 9% to 10% per year if the ETF closes at or above the initial index level on any annual call date.

If the notes are not called and the final index level is at least 90% of its initial level, the payout at maturity will be par.

Otherwise, investors will lose 1% for each 1% decline of the index beyond 10%.

Scotia Capital (USA) Inc. and Wells Fargo Securities, LLC are the agents.

The notes will price on Aug. 30.

The Cusip number is 064159PR1.

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