By William Gullotti
Buffalo, N.Y., March 21 – Bank of Nova Scotia priced $5.09 million of 0% trigger gears due March 20, 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 1.29 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: | $5,088,840
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Maturity: | March 20, 2034
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Coupon: | 0%
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Price: | Par of $10
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Payout at maturity: | Par plus 1.29 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: | $164.42
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Downside threshold: | $106.87; 65% of initial level
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Pricing date: | March 15
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Settlement date: | March 20
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Agents: | Scotia Capital (USA) Inc. and UBS Financial Services Inc.
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Fees: | 5%
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Cusip: | 06418H501
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