By Wendy Van Sickle
Columbus, Ohio, May 8 – Bank of Nova Scotia priced $2 million of 0% capped gears due May 4, 2029 linked to the Dow Jones industrial average, according to a 424B2 filing with the Securities and Exchange Commission.
At maturity, if the index’s return is greater than or equal to 106%, the payout will be par plus 200.62%.
If the index return is greater than or equal to 23% but less than 106%, the payout will be par plus 2.14 times the excess of the return over 23% plus 23%.
If the index return is greater than or equal to zero but less than 23%, the payout will be par plus the return.
Investors will lose 1% for every 1% decline in the index from its 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 gears
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| Underlying index: | Dow Jones industrial average
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| Amount: | $2 million
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| Maturity: | May 4, 2029
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| Coupon: | 0%
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| Price: | Par of $10
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| Payout at maturity: | If index’s return is greater than or equal to 106%, par plus 200.62%; if index return is greater than or equal to 23% but less than 106%, par plus 2.14 times excess over 23% plus 23%; if index return is greater than or equal to zero but less than 23%, par plus the return; full exposure to loss
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| Initial index level: | Average of index’s closing level on each trading day from May 1 through July 31, inclusive
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| Final index level: | Average of index’s closing level on each trading day from Jan. 31, 2029 through May 1, 2029, inclusive
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| Pricing date: | May 2
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| Settlement date: | May 5
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| Agents: | Scotia Capital (USA) Inc. and UBS Financial Services Inc.
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| Fees: | 2.5%
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| Cusip: | 06418A860
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