By Wendy Van Sickle
Columbus, Ohio, April 28 – Bank of Nova Scotia priced $33.18 million of contingent income autocallable securities due April 24, 2026 linked to the American depositary receipts of Amazon.com, Inc., according to a 424B2 filing with the Securities and Exchange Commission.
The securities will pay a contingent quarterly coupon at an annualized rate of 11.25% if the underlying stock closes at or above the 60% downside threshold on the related observation date.
If the underlying stock closes at or above its initial price on any of the quarterly determination dates, the securities will be redeemed at par plus the contingent coupon.
If the underlying stock finishes at or above the 60% downside threshold, the payout at maturity will be par plus the final coupon. Otherwise, the payout will be par times the final share price divided by the initial price.
Scotia Capital (USA) Inc. is the agent with Morgan Stanley Wealth Management handling distribution.
Issuer: | Bank of Nova Scotia
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Issue: | Contingent income autocallable securities
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Underlying stock: | Amazon.com, Inc.
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Amount: | $33,184,000
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Maturity: | April 24, 2026
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Coupon: | 11.25% annualized, payable quarterly if the underlying stock closes at or above downside threshold on the relevant observation date
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Price: | Par
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Payout at maturity: | Par plus contingent coupon if underlying stock finishes at or above downside threshold; otherwise, par times final price divided by the initial price
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Call: | At par plus contingent coupon if underlying stock closes at or above initial share price on any quarterly determination date
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Initial share price: | $106.96
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Downside threshold: | $64.176; 60% of initial price
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Pricing date: | April 21
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Settlement date: | April 26
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Agent: | Scotia Capital (USA) Inc. with Morgan Stanley Wealth Management handling distribution
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Fees: | 2.25%
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Cusip: | 06417YGW3
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