New Issue: Scotiabank prices $10.2 million autocallable market-linked step-up notes on Nasdaq

By William Gullotti

Buffalo, N.Y., Oct. 4 – Bank of Nova Scotia priced $10.2 million of 0% autocallable market-linked step-up notes due Sept. 27, 2024 linked to the Nasdaq-100 index, according to a 424B2 with the Securities and Exchange Commission.

The notes will be called at par plus a call premium of 19.14% if the index closes at or above its initial level on Oct. 5, 2023.

If the index finishes above the step-up value, 130% of the initial level, the payout at maturity will be par plus the index gain.

If the index finishes flat or gains by up to the step-up level, the payout will be par plus the step-up payment of 30%.

Investors will be fully exposed to any index decline.

BofA Securities, Inc. is the agent.

Issuer:	Bank of Nova Scotia
Issue:	Autocallable market-linked step-up notes
Underlying index:	Nasdaq-100 index
Amount:	$10,203,850
Maturity:	Sept. 27, 2024
Coupon:	0%
Price:	Par of $10
Payout at maturity:	If the index finishes above the step-up level, par plus the index gain; if the index finishes flat or gains up to the step-up level, par plus 30%; otherwise, full exposure to loss
Call:	At par plus 19.14% call premium if the index closes at or above its initial level on Oct. 5, 2023
Initial level:	11,164.78
Step-up value:	14,514.21; 130% of initial level
Pricing date:	Sept. 29
Settlement date:	Oct. 6
Underwriter:	BofA Securities, Inc.
Fees:	2%
Cusip:	06418B355

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