By William Gullotti
Buffalo, N.Y., Dec. 7 – Bank of Nova Scotia priced $2.03 million of market-linked securities – callable with contingent coupon and contingent downside due Nov. 30, 2026 linked to the S&P 500 index, according to a 424B2 filing with the Securities and Exchange Commission.
The notes will pay a contingent quarterly coupon at an annual rate of 8% if the index closes at or above its 75% coupon threshold on the observation date for that period.
The notes may be called at par plus any coupon otherwise due on any quarterly observation date after six months.
The payout at maturity will be par plus the final coupon unless the index finishes below its 75% downside threshold, in which case investors will lose 1% for every 1% decline of the index from its initial level.
Scotia Capital (USA) Inc. and Wells Fargo Securities, LLC are the agents.
| Issuer: | Bank of Nova Scotia
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| Issue: | Market linked securities – callable with contingent coupon and contingent downside
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| Underlying index: | S&P 500 index
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| Amount: | $2.03 million
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| Maturity: | Nov. 30, 2026
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| Coupon: | 8% annualized, payable quarterly if the index closes at or above coupon threshold on observation date for that period
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| Price: | Par
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| Payout at maturity: | Par plus final coupon unless the index falls by more than 25%, in which case 1% loss per 1% decline from initial level
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| Call option: | At par plus any coupon otherwise due on any quarterly valuation date after six months
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| Initial level: | 4,567.8
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| Coupon threshold: | 3,425.85; 75% of initial level
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| Downside threshold: | 3,425.85; 75% of initial level
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| Pricing date: | Nov. 30
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| Settlement date: | Dec. 5
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| Agents: | Scotia Capital (USA) Inc. and Wells Fargo Securities, LLC
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| Fees: | 2.325%
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| Cusip: | 06417YA74
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