By Wendy Van Sickle
Columbus, Ohio, Oct. 28 – Bank of Nova Scotia priced $9.01 million of 0% autocallable market-linked step-up notes due Oct. 29, 2021 linked to the PHLX Housing Sector index, according to a 424B2 with the Securities and Exchange Commission.
The notes will be called at par plus an annual call premium of 8.95% if the index closes at or above its initial level on any annual call date.
If the index finishes above the step-up value –14% of the initial level – the payout at maturity will be par of $10 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 14%.
Otherwise, investors will lose 1% for each 1% decline of the index from its initial level.
BofA Securities, Inc. is the agent.
| Issuer: | Bank of Nova Scotia
|
| Issue: | Autocallable market-linked step-up notes
|
| Underlying index: | PHLX Housing Sector
|
| Amount: | $9,010,320
|
| Maturity: | Oct. 29, 2021
|
| 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 16%; otherwise, investors will lose 1% for each 1% decline of the index
|
| Call: | At par plus 8.95% per year if the index closes at or above its initial level on any annual observation date
|
| Initial level: | 356.85
|
| Step-up value: | 406.81, 114% of initial level
|
| Pricing date: | Oct. 24
|
| Settlement date: | Oct. 31
|
| Underwriter: | BofA Securities, Inc.
|
| Fees: | 2%
|
| Cusip: | 06417Q650
|
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