By Wendy Van Sickle
Columbus, Ohio, Jan. 30 – Bank of Nova Scotia priced $15.01 million of 0% market-linked step-up notes due Jan. 25, 2019 linked to the Stoxx Europe 600 Banks index, according to a 424B2 filing with the Securities and Exchange Commission.
If the index finishes at or above the step-up level – 132.5% 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 32.5%.
Investors will be exposed to any losses.
BofA Merrill Lynch is the agent.
| Issuer: | Bank of Nova Scotia
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| Issue: | Market-linked step-up notes
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| Underlying index: | Stoxx Europe 600 Banks
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| Amount: | $15,013,180
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| Maturity: | Jan. 25, 2019
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| Coupon: | 0%
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| Price: | Par of $10
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| 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 32.5%; full exposure to losses
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| Initial level: | 179.60
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| Step-up level: | 237.97, 132.5% of initial level
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| Pricing date: | Jan. 26
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| Settlement date: | Feb. 2
|
| Underwriter: | BofA Merrill Lynch
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| Fees: | 2%
|
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| Cusip: | 064160476
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