New Issue: Scotia prices $2.11 million capped gears linked to iShares ETF

By William Gullotti

Buffalo, N.Y., June 30 – Bank of Nova Scotia priced $2.11 million of 0% capped gears due Aug. 31, 2023 linked to the iShares MSCI Emerging Markets ETF, according to a 424B2 filing with the Securities and Exchange Commission.

The payout at maturity will be par of $10 plus triple any ETF gain, up to a maximum return of par plus 20.75%.

Investors will be exposed to any losses.

UBS Financial Services Inc. and Scotia Capital (USA) Inc. are the agents.

Issuer:	Bank of Nova Scotia
Issue:	Capped gears
Underlying fund:	iShares MSCI Emerging Markets ETF
Amount:	$2,105,000
Maturity:	Aug. 31, 2023
Coupon:	0%
Price:	Par of $10
Payout at maturity:	Par plus three times any ETF gain, capped at par plus 20.75%; 1% loss per 1% decline
Initial level:	$40.70
Pricing date:	June 27
Settlement date:	June 30
Agents:	UBS Financial Services Inc. and Scotia Capital (USA) Inc.
Fees:	2%
Cusip:	06417U230

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