By William Gullotti
Buffalo, N.Y., Nov. 21 – Bank of Nova Scotia priced $1.57 million of market-linked securities – autocallable with contingent coupon and contingent downside due Nov. 20, 2026 linked to the stock performance of Amazon.com, Inc., according to a 424B2 filing with the Securities and Exchange Commission.
The notes will pay a contingent quarterly coupon at an annual rate of 11% if the stock closes at or above its 70% coupon threshold on the observation date for that period.
The notes will be called at par plus a coupon if the stock closes at or above its initial level on any quarterly observation date after six months.
The payout at maturity will be par plus the final coupon if the stock finishes at or above its coupon threshold.
If the stock finishes below its coupon threshold but at or above its 50% downside threshold, the payout will be par. Otherwise, investors will lose 1% for every 1% decline of the stock from its initial level.
Scotia Capital (USA) Inc. is the agent with Wells Fargo Securities, LLC acting as the agent for distribution.
| Issuer: | Bank of Nova Scotia
|
| Issue: | Market linked securities – autocallable with contingent coupon and contingent downside
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| Underlying stock: | Amazon.com, Inc.
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| Amount: | $1,574,000
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| Maturity: | Nov. 20, 2026
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| Coupon: | 11% annualized, payable quarterly if the stock closes at or above coupon threshold on observation date for that period
|
| Price: | Par
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| Payout at maturity: | Par plus final coupon if stock finishes at or above coupon threshold; if stock finishes below coupon threshold but at or above downside threshold, par; otherwise, 1% loss per 1% decline from initial level
|
| Call: | At par plus coupon if the stock closes at or above its initial level on any interest payment date after six months
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| Initial level: | $145.18
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| Coupon threshold: | $101.626; 70% of initial level
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| Downside threshold: | $72.59; 50% of initial level
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| Pricing date: | Nov. 17
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| Settlement date: | Nov. 22
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| Agent: | Scotia Capital (USA) Inc. with Wells Fargo Securities, LLC as agent for distribution
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| Fees: | 1.945%
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| Cusip: | 06417YA66
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