By Wendy Van Sickle
Columbus, Ohio, April 18 – Bank of Nova Scotia priced $6.33 million of 0% trigger gears due April 17, 2034 linked to the Invesco S&P 500 Equal Weight ETF, according to a 424B2 filing with the Securities and Exchange Commission.
If the index return is greater than zero, the payout at maturity will be par of $10 plus 1.25 times the return.
Investors will receive par if the index declines by 35% or less and will be fully exposed to the index’s decline from its initial level if it declines by more than 35%.
Scotia Capital (USA) Inc. and UBS Financial Services Inc. are the agents.
| Issuer: | Bank of Nova Scotia
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| Issue: | Trigger gears
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| Underlying fund: | Invesco S&P 500 Equal Weight ETF
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| Amount: | $6,327,800
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| Maturity: | April 17, 2034
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| Coupon: | 0%
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| Price: | Par of $10
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| Payout at maturity: | Par plus 1.25 times any gain; par if index declines but final index level is greater than or equal to downside threshold; otherwise, full exposure to index’s decline from initial level
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| Initial level: | $161.98
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| Downside threshold: | $105.29; 65% of initial level
|
| Pricing date: | April 12
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| Settlement date: | April 17
|
| Agents: | Scotia Capital (USA) Inc. and UBS Financial Services Inc.
|
| Fees: | 5%
|
| Cusip: | 06418H675
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