New York, April 25 – Bank of Nova Scotia priced $23.88 million of contingent income autocallable securities due April 22, 2027 linked to the common stock of Blackstone Inc., according to a 424B2 filing with the Securities and Exchange Commission.
Investors will receive a coupon of 10.25%, paid quarterly, if the underlying stock closes at or above its 60% downside threshold on the related quarterly observation date.
The securities will be called automatically starting July 19 at par and on any subsequent quarterly review date.
At maturity the payout will be par unless the stock closes below its downside threshold level in which case investors will be fully exposed to the decline of the stock.
Scotia Capital is the agent.
Issuer: | Bank of Nova Scotia
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Issue: | Contingent income autocallable securities
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Underlying stock: | Blackstone Inc.
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Amount: | $23,879,000
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Maturity: | April 22, 2027
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Coupon: | 10.25%, paid quarterly, if the underlying stock closes at or above its downside threshold on the related quarterly observation date
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Price: | Par
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Payout at maturity: | Par unless the stock closes below its downside threshold level in which case investors will be fully exposed to the decline in the stock
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Call: | Automatically starting July 19 at par and on any subsequent quarterly review date
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Initial level: | $118.40
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Downside threshold: | $71.04, 60% of initial level
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Pricing date: | April 19
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Settlement date: | April 24
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Agent: | Scotia Capital
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Fees: | 2.25%
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Cusip: | 06417YR76
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