New Issue: Scotia prices $7.16 million trigger gears linked to S&P 500

By Wendy Van Sickle

Columbus, Ohio, Feb. 23 – Bank of Nova Scotia priced $7.16 million of 0% trigger gears due Feb. 14, 2031 linked to the S&P 500 index, according to a 424B2 filing with the Securities and Exchange Commission.

If the index return is greater than zero, the payout at maturity will be par of $10 plus 1.215 times the index return. Investors will receive par if the index declines by 35% or less and will be fully exposed to the index’s decline from its initial level if it declines by more than 35%.

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

Issuer:	Bank of Nova Scotia
Issue:	Trigger gears
Underlying index:	S&P 500
Amount:	$7,162,830
Maturity:	Feb. 14, 2031
Coupon:	0%
Price:	Par of $10
Payout at maturity:	If index return is greater than zero, par plus 1.215 times gain; par if index return is less than or equal to zero but final index level is greater than or equal to downside threshold; full exposure to index’s decline from initial level if index finishes below downside threshold
Initial index level:	3,916.38
Downside threshold:	2,545.65, 65% of initial level
Pricing date:	Feb. 11
Settlement date:	Feb. 17
Agents:	Scotia Capital (USA) Inc. and UBS Financial Services Inc.
Fees:	5%
Cusip:	06417T308

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