By William Gullotti
Buffalo, N.Y., June 20 – Bank of Nova Scotia priced $1.5 million of trigger autocallable contingent yield notes due June 20, 2024 linked to the stock performance of Devon Energy Corp., according to a 424B2 filing with the Securities and Exchange Commission.
The notes will pay a contingent monthly coupon at an annual rate of 18% if the stock closes at or above its coupon barrier, 64.13% of its initial level, on the relevant observation date.
The notes will be called at par of $10 plus the contingent coupon if the stock closes at or above its initial level on any monthly observation date.
The payout at maturity will be par plus the final coupon if the stock finishes at or above the 64.13% downside threshold level.
Otherwise, investors will lose 1% for every 1% of stock decline from its initial level.
UBS Financial Services Inc. and Scotia Capital (USA) Inc. are the agents.
| Issuer: | Bank of Nova Scotia
|
| Issue: | Trigger autocallable contingent yield notes
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| Underlying stock: | Devon Energy Corp.
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| Amount: | $1.5 million
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| Maturity: | June 20, 2024
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| Coupon: | 18% annual rate, payable monthly if the stock closes at or above coupon barrier on monthly observation date
|
| Price: | Par of $10
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| Payout at maturity: | Par plus final coupon if the stock finishes at or above downside threshold; otherwise, 1% loss for each 1% decline from initial level
|
| Call: | At par plus coupon if the stock closes at or above initial level on any monthly observation date
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| Initial level: | $48.95
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| Coupon barrier level: | $31.39; 64.13% of initial level
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| Downside threshold: | $31.39; 64.13% of initial level
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| Strike date: | June 14
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| Pricing date: | June 15
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| Settlement date: | June 21
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| Agents: | UBS Financial Services Inc. and Scotia Capital (USA) Inc.
|
| Fees: | 1.25%
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| Cusip: | 06418E250
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