By Wendy Van Sickle
Columbus, Ohio, March 29 – Bank of Nova Scotia priced $13.06 million of 0% autocallable market-linked step-up notes due March 27, 2025 linked to the Euro Stoxx 50 index, according to a 424B2 with the Securities and Exchange Commission.
The notes will be called at par plus a call premium of 15.22% a year if the index closes at or above its initial level on either annual observation date.
If the index finishes above the step-up value, 130% of the initial level, the payout at maturity will be par plus the index gain.
If the index finishes flat or gains by up to the step-up level, the payout will be par plus the step-up payment of 30%.
Investors will be fully exposed to any index decline.
BofA Securities, Inc. is the agent.
| Issuer: | Bank of Nova Scotia
|
| Issue: | Autocallable market-linked step-up notes
|
| Underlying index: | Euro Stoxx 50 index
|
| Amount: | $13,064,870
|
| Maturity: | March 27, 2025
|
| Coupon: | 0%
|
| Price: | Par of $10
|
| Payout at maturity: | If the index finishes above the step-up level, par plus the index gain; if the index finishes flat or gains up to the step-up level, par plus 30%; otherwise, investors will lose 1% for each 1% decline of the index
|
| Call: | At par plus 15.22% a year if the index closes at or above its initial level on either annual observation date
|
| Initial level: | 3,863.39
|
| Step-up value: | 5,022.41; 130% of initial level
|
| Pricing date: | March 24
|
| Settlement date: | March 31
|
| Underwriter: | BofA Securities, Inc.
|
| Fees: | 2%
|
| Cusip: | 06417X176
|
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