New York, Oct. 11 – Bank of Nova Scotia priced $4.93 million of contingent income autocallable securities due Oct. 9, 2026 linked to the common stock of ConocoPhillips, according to a 424B2 filing with the Securities and Exchange Commission.
Investors will receive a coupon of 10.35%, payable quarterly if the stock closes at or above 55% of its initial level on the related observation date.
The securities will be called automatically starting Jan. 8, 2024 at par and on any subsequent quarterly review date if the stock closes at or above its initial level.
At maturity the payout will be par unless the stock closes below its downside threshold level in which case investors will be fully exposed to the decline of the stock.
Scotia Capital is the agent.
| Issuer: | Bank of Nova Scotia
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| Issue: | Contingent income autocallable securities
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| Underlying stock: | ConocoPhillips
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| Amount: | $4,931,000
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| Maturity: | Oct. 9, 2026
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| Coupon: | 10.35%, payable quarterly if stock closes at or above 55% of initial level on related observation date
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| Price: | Par
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| Payout at maturity: | Par unless the stock closes below its downside threshold level in which case investors will be fully exposed to the decline in the stock
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| Call: | Automatically starting Jan. 8, 2024 at par and on any subsequent quarterly review date if stock closes at or above initial level
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| Initial level: | $115.33
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| Downside threshold: | $63.4315, 55% of initial level
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| Pricing date: | Oct. 6
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| Settlement date: | Oct. 12
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| Agent: | Scotia Capital
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| Fees: | 0%
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| Cusip: | 06417YVN6
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