New Issue: Scotiabank prices $23.65 million autocallable Leveraged Index Return Notes linked to S&P

By William Gullotti

Buffalo, N.Y., Dec. 29 – Bank of Nova Scotia priced $23.65 million of 0% autocallable Leveraged Index Return Notes due Dec. 18, 2026 linked to the S&P 500 index, according to a 424B2 filing with the Securities and Exchange Commission.

Scotia sold 2,365,166 units with a face amount of $10 each, for a total principal amount of $23,651,660. The issuer sold 400,000 units to an individual investor at $9.95 per unit and the remainder to the public at par of $10, for total proceeds of $23,631,660.

The notes will be called automatically at par plus a 9% call premium if the index closes at or above its initial level on Dec. 26, 2024.

The payout at maturity will be par plus 185% of any index gain.

Investors will be fully exposed to any index decline.

BofA Securities, Inc. is the agent.

Issuer:	Bank of Nova Scotia
Issue:	Autocallable Leveraged Index Return Notes
Underlying index:	S&P 500 index
Principal amount:	$23,651,660
Proceeds:	$23,631,660
Maturity:	Dec. 18, 2026
Coupon:	0%
Price:	$9.95 per unit for 400,000 units; par of $10 for remainder
Payout at maturity:	Par plus 185% of any index gain; otherwise, full exposure to loss
Call:	Automatically at par plus a 9% call premium if the index closes at or above initial level on Dec. 26, 2024
Initial level:	4,746.75
Pricing date:	Dec. 21
Settlement date:	Dec. 29
Agent:	BofA Securities, Inc.
Fees:	1.5% for 400,000 units; 2% for remainder
Cusip:	06418J200

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