By Wendy Van Sickle
Columbus, Ohio, March 30 – Bank of Nova Scotia priced $4.1 million of trigger autocallable contingent yield notes due March 27, 2026 linked to the SPDR S&P MidCap 400 ETF Trust , according to a 424B2 filing with the Securities and Exchange Commission.
The notes will pay a contingent quarterly coupon at an annual rate of 10.5% if the ETF closes at or above its coupon barrier, 70% of its initial level, on the relevant observation date.
The notes will be called at par of $10 plus the contingent coupon if the ETF closes at or above its initial level on any quarterly observation date after six months.
The payout at maturity will be par plus the final coupon if the ETF finishes at or above the 70% downside threshold level.
Otherwise, investors will lose 1% for every 1% of ETF decline from its initial level.
UBS Financial Services Inc. and Scotia Capital (USA) Inc. are the agents.
Issuer: | Bank of Nova Scotia
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Issue: | Trigger autocallable contingent yield notes
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Underlying ETF: | SPDR S&P MidCap 400 ETF Trust
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Amount: | $4,098,420
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Maturity: | March 27, 2026
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Coupon: | 10.5% annual rate, payable quarterly if the ETF closes at or above coupon barrier on quarterly observation date
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Price: | Par of $10
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Payout at maturity: | Par plus final coupon if the ETF finishes at or above downside threshold; otherwise, 1% loss for each 1% decline from initial level
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Call: | At par plus coupon if the ETF closes at or above initial level on any quarterly observation date after six months
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Initial ETF level: | $438.47
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Coupon barrier level: | $306.93; 70% of initial level
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Downside threshold: | $306.93; 70% of initial level
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Pricing date: | March 24
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Settlement date: | March 29
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Agents: | UBS Financial Services Inc. and Scotia Capital (USA) Inc.
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Fees: | 0%
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Cusip: | 06418A670
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