By Wendy Van Sickle
Columbus, Ohio, March 14 – Bank of Nova Scotia priced $12.86 million of 0% capped buffered enhanced participation notes due Sept. 13, 2023 linked to the Energy Select Sector SPDR fund, according to a 424B2 filing with the Securities and Exchange Commission.
If the final fund level is greater than the initial level, the payout at maturity will be par plus 300% of the fund return, subject to a maximum settlement amount of $1,351 per $1,000 principal amount of notes.
Investors will receive par if the fund finishes flat or falls by up to 15% and will lose 1.1765% for each 1% fund decline beyond 15%.
Scotia Capital (USA) Inc. is the underwriter.
| Issuer: | Bank of Nova Scotia
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| Issue: | Capped buffered enhanced participation notes
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| Underlying fund: | Energy Select Sector SPDR
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| Amount: | $12.86 million
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| Maturity: | Sept. 13, 2023
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| Coupon: | 0%
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| Price: | Par
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| Payout at maturity: | Par plus 300% of any fund gain, up to maximum payout of $1,351 per $1,000 principal amount of notes; par if fund finishes flat or falls by up to 15%; 1.1765% loss for each 1% fund decline beyond 15%
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| Initial fund level: | $75.17
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| Buffer level: | 85% of initial level
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| Pricing date: | March 9
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| Settlement date: | March 16
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| Agent: | Scotia Capital (USA) Inc.
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| Fees: | 1.51%
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| Cusip: | 0641598F6
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