By Wendy Van Sickle
Columbus, Ohio, April 13 – Bank of Nova Scotia priced $3 million of 0% capped in-gears due Oct. 2, 2028 linked to the Dow Jones industrial average, according to a 424B2 filing with the Securities and Exchange Commission.
If the index finishes at or above 147% of the initial level, the payout at maturity will be par plus 86.7%.
If the index finishes below 147% of the initial level but at or above 122% of initial level, the payout will be par plus 45% plus 1.688 times the index gain in excess of 122%.
If the index finishes below 122% of initial level but at or above 102% of initial level, the payout will be par plus 1.7 times the index return plus 11%.
If the index finishes below 102% of initial level but at or above 92% of initial level, the payout will be par plus 1.1 times the return of the index above 92% of the initial level.
If the index declines more than 8% but no more than 24%, investors will lose 1.5% for each 1% decline beyond 8%.
If the index declines by more than 24%, investors will lose 1% for every 1% of index decline from initial level.
Scotia Capital (USA) Inc. and UBS Financial Services Inc. are the agents.
| Issuer: | Bank of Nova Scotia
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| Issue: | Capped in-gears
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| Underlying index: | Dow Jones industrial average
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| Amount: | $3 million
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| Maturity: | Oct. 2, 2028
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| Coupon: | 0%
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| Price: | Par of $10
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| Payout at maturity: | If the index finishes at or above 147% of the initial level, par plus 86.7%; if the index finishes below 147% of the initial level but at or above 122% of initial level, par plus 45% plus 1.688 times the index gain in excess of 122%; if the index finishes below 122% of initial level but at or above 102% of initial level, par plus 1.7 times the quantity of the index return plus 11%; if index finishes below 102% of initial level but at or above 92% of initial level, par plus 1.1 times return of index above 92% of initial level; if index declines more than 8% but no more than 24%, lose 1.5% for each 1% decline beyond 8%; otherwise, full exposure to index decline from initial level
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| Initial level: | Average of index closing levels over three-month period from March 28 to and including May 12
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| Final level: | Average of index closing levels over the three-month period from June 29, 2028 to and including Sept. 27, 2028
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| Pricing date: | March 29
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| Settlement date: | April 3
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| Agents: | Scotia Capital (USA) Inc. and UBS Financial Services Inc.
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| Fees: | 0.25%
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| Cusip: | 06418A696
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