By William Gullotti
Buffalo, N.Y., Jan. 18 – Bank of Nova Scotia sold $1.6 million of 0% capped buffered return enhanced notes due Jan. 16, 2025 linked to the VanEck Semiconductor ETF, according to a 424B2 filing with the Securities and Exchange Commission.
The payout at maturity will be par plus 200% of any ETF gain, subject to a maximum payout of par plus 36%.
Investors will receive par if the ETF falls by up to 25% and will lose 1.3333% for every 1% decline beyond 25%.
Scotia Capital (USA) Inc. is the underwriter. J.P. Morgan Securities LLC and JPMorgan Chase Bank, NA are the placement agents.
| Issuer: | Bank of Nova Scotia
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| Issue: | Capped buffered return enhanced notes
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| Underlying fund: | VanEck Semiconductor ETF
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| Amount: | $1.6 million
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| Maturity: | Jan. 16, 2025
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| Coupon: | 0%
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| Price: | Par
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| Payout at maturity: | Par plus 200% of any ETF gain, capped at par plus 36%; par if ETF falls by up to 25%; otherwise, 1.3333% loss for every 1% decline beyond 25%
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| Initial ETF price: | $225.79
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| Buffer price: | $169.34; 75% of initial price
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| Pricing date: | Jan. 13
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| Settlement date: | Jan. 19
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| Underwriter: | Scotia Capital (USA) Inc.
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| Placement agents: | J.P. Morgan Securities LLC and JPMorgan Chase Bank, NA
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| Fees: | 1.5%
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| Cusip: | 06417YDE6
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