By Wendy Van Sickle
Columbus, Ohio, March 12 – Bank of Nova Scotia priced $1.44 million of 0% market-linked step-up notes due Feb. 27, 2023 linked to the Energy Select Sector index, according to a 424B2 filing with the Securities and Exchange Commission.
If the index finishes at or above the step-up level – 110% of the initial level – the payout at maturity will be par of $10 plus the index gain.
If the index gains by up to the step-up level, the payout will be par plus the step-up payment of 10%.
Investors will be exposed to any losses.
BofA Securities is the agent.
| Issuer: | Bank of Nova Scotia
|
| Issue: | Market-linked step-up notes
|
| Underlying index: | Energy Select Sector
|
| Amount: | $1,438,780
|
| Maturity: | Feb. 27, 2023
|
| Coupon: | 0%
|
| Price: | Par of $10
|
| Payout at maturity: | If index finishes at or above the step-up level, par plus the index gain; if index finishes up to step-up level, par plus step-up payment of 10%; exposure to any losses
|
| Initial index level: | 511.61
|
| Step-up value: | 562.77, 110% of initial value
|
| Pricing date: | Feb. 25
|
| Settlement date: | March 4
|
| Underwriter: | BofA Securities
|
| Fees: | 2%
|
| Cusip: | 06417V782
|
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