By Taylor Fox
New York, Oct. 29 – Bank of Nova Scotia priced $1.09 million of market-linked securities due Oct. 6, 2023 – autocallable with contingent downside linked to the SPDR S&P Biotech ETF, according to a 424B2 filing with the Securities and Exchange Commission.
The notes will be automatically called at par plus a premium of 12% per year if the ETF closes at or above its initial level on any annual observation date.
If the notes are not called and the ETF finishes at or above 75% of its initial level, the payout will be par.
Otherwise, investors will be exposed to the decline of the ETF.
Scotia Capital (USA) Inc. and Wells Fargo Securities, LLC are the agents.
| Issuer: | Bank of Nova Scotia
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| Issue: | Market linked securities – autocallable with contingent downside
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| Underlying ETF: | SPDR S&P Biotech ETF
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| Amount: | $1,085,000
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| Maturity: | Oct. 6, 2023
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| Coupon: | 0%
|
| Price: | Par
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| Payout at maturity: | If the notes are not called and the ETF finishes at or above 75% of its initial level, par; otherwise, investors will be exposed to the decline of the ETF
|
| Call: | Automatically at par plus a premium of 12% per year if the ETF closes at or above its initial level on any annual observation date
|
| Initial level: | $111.69
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| Downside threshold: | $83.7675, 75% of initial level
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| Pricing date: | Sept. 29
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| Settlement date: | Oct. 2
|
| Agents: | Scotia Capital (USA) Inc. and Wells Fargo Securities, LLC
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| Fees: | 2.425%
|
| Cusip: | 064159WN2
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