By Sarah Lizee
Olympia, Wash., Dec. 13 – Bank of Nova Scotia priced $1.36 million of 0% market-linked autocallable securities with fixed percentage buffered downside due Dec. 5, 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 fixed call premium of 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) and Wells Fargo Securities, LLC are the agents.
Issuer: | Bank of Nova Scotia
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Issue: | Market-linked autocallable securities with fixed-percentage buffered downside
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Underlying fund: | VanEck Vectors Gold Miners ETF
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Amount: | $1.36 million
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Maturity: | Dec. 5, 2022
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Coupon: | 0%
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Price: | Par
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Payout at maturity: | Par unless fund falls by more than 10% in which case exposure to losses beyond 10%
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Call: | Automatically at par plus a 10% per year fixed call premium if the fund closes at or above the initial fund level on any of three annual call observation dates
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Initial level: | $26.66
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Threshold level: | $23.994, 90% of initial level
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Pricing date: | Nov. 27
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Settlement date: | Dec. 3
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Underwriters: | Scotia Capital (USA) Inc. and Wells Fargo Securities, LLC.
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Fees: | 2.325%
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Cusip: | 064159QR0
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