New Issue: Scotia prices $2.84 million trigger gears linked to S&P 500

By William Gullotti

Buffalo, N.Y., March 30 – Bank of Nova Scotia priced $2.84 million of 0% trigger gears due March 31, 2027 linked to the S&P 500 index, 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 1.295 times the return. Investors will receive par if the index declines by 20% or less and will be fully exposed to the index’s decline from its initial level if it declines by more than 20%.

Scotia Capital (USA) Inc. and UBS Financial Services Inc. are the agents.

Issuer:	Bank of Nova Scotia
Issue:	Trigger gears
Underlying index:	S&P 500
Amount:	$2,843,560
Maturity:	March 31, 2027
Coupon:	0%
Price:	Par of $10
Payout at maturity:	Par plus 1.295 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
Initial index level:	4,575.52
Downside threshold:	3,660.42; 80% of initial level
Pricing date:	March 28
Settlement date:	March 31
Agents:	Scotia Capital (USA) Inc. and UBS Financial Services Inc.
Fees:	None
Cusip:	06417U123

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