By Wendy Van Sickle
Columbus, Ohio, Jan. 17 – Bank of Nova Scotia priced $18.3 million of autocallable Strategic Accelerated Redemption Securities due Jan. 28, 2030 linked to the performance of the Invesco S&P 500 Equal Weight ETF, according to a 424B2 filing with the Securities and Exchange Commission.
The notes will be called at par plus an annualized call premium of 8.2% if the closing level of the ETF is equal to or greater than its initial level on any yearly observation date.
If the notes are not called at maturity, investors will be fully exposed to the decline of the ETF from its initial level.
BofA Securities, Inc. is the agent.
| Issuer: | Bank of Nova Scotia
|
| Issue: | Autocallable Strategic Accelerated Redemption Securities
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| Underlying fund: | Invesco S&P 500 Equal Weight ETF
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| Amount: | $18,304,470
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| Maturity: | Jan. 28, 2030
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| Coupon: | 0%
|
| Price: | Par of $10
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| Payout at maturity: | Full exposure to loss if ETF declines
|
| Call: | Par plus 8.2% annualized call premium if the closing level of the ETF is equal to or greater than its initial level on any yearly observation date
|
| Initial level: | $156.40
|
| Pricing date: | Jan. 11
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| Settlement date: | Jan. 19
|
| Agent: | BofA Securities, Inc.
|
| Fees: | 2%
|
| Cusip: | 06418J606
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