Chicago, Oct. 19 – Bank of Nova Scotia priced $16.48 million of contingent income autocallable securities due Oct. 16, 2026 linked to the common stock of Blackstone Inc., according to a 424B2 filing with the Securities and Exchange Commission.
If Blackstone shares close at or above the downside threshold level, 50% of the initial share price, on a quarterly determination date, the notes will pay a contingent payment that quarter at an annualized rate of 11.25% plus any previously unpaid coupons.
The notes will be called at par plus the contingent coupon if Blackstone shares close at or above the initial share price on any quarterly determination date other than the final determination date.
If the final share price is greater than or equal to the 50% downside threshold level, the payout at maturity will be par plus the final contingent coupon. Otherwise, investors will lose 1% for every 1% that the final share price is less than the initial share price.
Scotia Capital (USA) Inc. is the agent. Morgan Stanley Wealth Management is handling distribution.
| Issuer: | Bank of Nova Scotia
|
| Issue: | Contingent income autocallable securities
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| Underlying stock: | Blackstone Inc.
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| Amount: | $16,483,000
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| Maturity: | Oct. 16, 2026
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| Coupon: | 11.25% per year, payable quarterly if Blackstone shares close at or above downside threshold level on determination date for that quarter, plus any previously unpaid coupons
|
| Price: | Par
|
| Payout at maturity: | If final share price is greater than or equal to downside threshold level, par plus final contingent coupon; otherwise, 1% loss for every 1% that final share price is less than initial share price
|
| Call: | At par plus contingent coupon if Blackstone shares close at or above initial share price on any quarterly determination date other than final determination date
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| Initial share price: | $103.80
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| Downside threshold: | $51.90, or 50% of initial share price
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| Pricing date: | Oct. 13
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| Settlement date: | Oct. 18
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| Agent: | Scotia Capital (USA) Inc.
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| Distribution: | Morgan Stanley Wealth Management
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| Fees: | 2.25%
|
| Cusip: | 06417YVW6
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