By William Gullotti
Buffalo, N.Y., March 6 – Bank of Nova Scotia priced $2 million of 0% capped gears due Feb. 6, 2030 linked to the Dow Jones industrial average, according to a 424B2 filing with the Securities and Exchange Commission.
If the index’s final level is greater than or equal to 124% of initial level, the payout at maturity will be par plus 24% plus 2.08 times the gain of the index above 124%, subject to a maximum return of par plus 190.4%.
If the index’s final level is less than 124% of initial level but greater than or equal to initial level, the payout will be par plus the return of the index.
Investors will be exposed to any index decline.
UBS Financial Services Inc. and Scotia Capital (USA) 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: | Feb. 6, 2030
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| Coupon: | 0%
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| Price: | Par of $10
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| Payout at maturity: | If index’s final level is greater than or equal to 124% of initial level, par plus 24% plus 2.08 times the gain of the index above 124%, subject to a maximum return of par plus 190.4%; if the index finishes at or above initial level but less than 124% of initial level, par plus index return; otherwise, 1% loss for each 1% decline
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| Initial level: | Arithmetic average of the closing level of the index on each trading day between Feb. 1 and May 1, inclusive
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| Pricing date: | Feb. 2
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| Settlement date: | Feb. 7
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| Agents: | UBS Financial Services Inc. and Scotia Capital (USA) Inc.
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| Fees: | 0.25%
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| Cusip: | 06418H279
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