Chicago, April 12 – Bank of Nova Scotia priced $557,000 of autocallable contingent coupon trigger notes due Feb. 21, 2025 linked to the stock performance of Albemarle Corp., according to a 424B2 filing with the Securities and Exchange Commission.
If the stock closes at or above the barrier level, 64% of its initial level, on any monthly review date, the notes will pay a contingent coupon at an annual rate of 22.1%.
If the stock closes at or above its initial level on any monthly review date after six months, the notes will be called at par plus the contingent coupon.
If the notes are not called and the stock finishes at or above the 64% barrier level, the payout at maturity will be par plus the final coupon.
Otherwise, investors will receive a number of shares per note equal to $1,000 divided by the stock’s initial price.
Scotia Capital (USA) Inc. is the agent. Goldman Sachs & Co. LLC is the dealer.
| Issuer: | Bank of Nova Scotia
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| Issue: | Autocallable contingent coupon trigger notes
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| Underlying stock: | Albemarle Corp.
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| Amount: | $557,000
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| Maturity: | Feb. 21, 2025
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| Coupon: | 22.1% per year, payable monthly, if the stock closes at or above barrier level on the relevant observation date
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| Price: | Par
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| Payout at maturity: | If the notes are not called and the stock finishes at or above barrier level, par plus coupon; otherwise, investors will receive a number of shares per note equal to $1,000 divided by the stock’s initial price
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| Call: | Automatically at par plus contingent coupon if stock closes at or above initial level on any monthly review date after six months
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| Initial stock price: | $117.99
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| Barrier price: | 64% of initial stock price
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| Pricing date: | Jan. 18
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| Settlement date: | Jan. 23
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| Agent: | Scotia Capital (USA) Inc.
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| Dealer: | Goldman Sachs & Co. LLC
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| Fees: | 0.65%
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| Cusip: | 06417YD55
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