By William Gullotti
Buffalo, N.Y., Oct. 20 – Bank of Nova Scotia priced $12.88 million of 0% autocallable notes due Oct. 20, 2025 linked to the Nasdaq-100 index, according to a 424B2 with the Securities and Exchange Commission.
The notes will be automatically called at par plus a call premium of 14.29% if the index closes at or above its initial level on Oct. 23, 2024.
If the notes are not called and the index finishes at or above its initial level, the payout at maturity will be par plus 200% of the index return.
Investors will be fully exposed to any index decline.
Scotia Capital (USA) Inc. is the underwriter. Goldman Sachs & Co. LLC is the dealer.
| Issuer: | Bank of Nova Scotia
|
| Issue: | Autocallable notes
|
| Underlying index: | Nasdaq-100 index
|
| Amount: | $12,881,000
|
| Maturity: | Oct. 20, 2025
|
| Coupon: | 0%
|
| Price: | Par
|
| Payout at maturity: | If the index finishes at or above initial level, par plus 200% of the index return; otherwise, 1% loss for every 1% decline from initial level
|
| Call: | Automatically at par plus 14.29% if the index closes at or above its initial level on Oct. 23, 2024
|
| Initial level: | 15,172.73
|
| Pricing date: | Oct. 16
|
| Settlement date: | Oct. 23
|
| Underwriter: | Scotia Capital (USA) Inc.
|
| Dealer: | Goldman Sachs & Co. LLC
|
| Fees: | 1.5%
|
| Cusip: | 06417YVS5
|
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