By Wendy Van Sickle
Columbus, Ohio, Feb. 29 – Bank of Nova Scotia priced $10.76 million of 0% trigger gears due Feb. 28, 2029 linked to the Invesco S&P 500 Equal Weight ETF, according to a 424B2 filing with the Securities and Exchange Commission.
If the ETF return is greater than zero, the payout at maturity will be par of $10 plus 1.25 times the return.
Investors will receive par if the ETF declines by 25% or less and will be fully exposed to the ETF’s decline from its initial level if it declines by more than 25%.
Scotia Capital (USA) Inc. and UBS Financial Services Inc. are the agents.
| Issuer: | Bank of Nova Scotia
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| Issue: | Trigger gears
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| Underlying ETF: | Invesco S&P 500 Equal Weight ETF
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| Amount: | $10,764,500
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| Maturity: | Feb. 28, 2029
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| Coupon: | 0%
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| Price: | Par of $10
|
| Payout at maturity: | Par plus 1.25 times any gain; par if ETF declines but final ETF level is greater than or equal to downside threshold; otherwise, full exposure to ETF’s decline from initial level
|
| Initial ETF level: | $161.35
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| Downside threshold: | $121.01; 75% of initial level
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| Pricing date: | Feb. 27
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| Settlement date: | Feb. 29
|
| Agents: | Scotia Capital (USA) Inc. and UBS Financial Services Inc.
|
| Fees: | 3.5%
|
| Cusip: | 06418H378
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