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Share Name | Share Symbol | Market | Type |
---|---|---|---|
Bank Nova Scotia Halifax | NYSE:BNS | NYSE | Common Stock |
Price Change | % Change | Share Price | High Price | Low Price | Open Price | Shares Traded | Last Trade | |
---|---|---|---|---|---|---|---|---|
0.14 | 0.31% | 45.98 | 46.03 | 45.615 | 45.90 | 1,336,950 | 00:30:55 |
PRELIMINARY PRICING SUPPLEMENT
Subject To Completion, dated July 29, 2024
Filed Pursuant to Rule 424(b)(2)
Registration Statement No. 333-261476
(To Product Supplement No. WF-1 dated August 29, 2022,
Prospectus Supplement dated December 29, 2021
and Prospectus dated December 29, 2021)
|
The Bank of Nova Scotia
Senior Note Program, Series A
Equity Linked Securities
|
|
Market Linked Securities—Auto-Callable with Contingent Coupon and Contingent Downside
Principal at Risk Securities Linked to the Lowest Performing of the common stock of Apple Inc., the common stock of Alphabet Inc. and the common stock of Microsoft
Corporation due August 19, 2027
|
|
■ Linked to the lowest performing of the common stock of Apple Inc., the common stock of Alphabet Inc. and the common
stock of Microsoft Corporation (each referred to as an “Underlying Stock”)
■ Unlike ordinary debt securities, the securities do not provide for fixed payments of interest, do not repay a fixed amount of principal at stated maturity
and are subject to potential automatic call prior to stated maturity upon the terms described below. Whether the securities pay a contingent coupon payment, whether the securities are automatically called prior to stated maturity and, if
they are not automatically called, whether you receive the face amount of your securities at stated maturity will depend, in each case, on the stock closing price of the lowest performing Underlying Stock on the relevant calculation day.
The lowest performing Underlying Stock on any calculation day is the Underlying Stock that has the lowest stock closing price on that calculation day as a percentage of its starting price
■ Contingent Coupon. The securities will pay a contingent coupon payment on a quarterly basis until the earlier of
stated maturity or automatic call if, and only if, the stock closing price of the lowest performing Underlying Stock on the calculation day for that quarter is greater than or equal to its coupon
threshold price. However, if the stock closing price of the lowest performing Underlying Stock on a calculation day is less than its coupon threshold price, you will not receive any contingent coupon on the related quarterly contingent
coupon payment date. If the stock closing price of the lowest performing Underlying Stock is less than its coupon threshold price on every calculation day, you will not receive any contingent coupon payments throughout the entire term of
the securities. The coupon threshold price for each Underlying Stock is equal to 70% of its starting price. The contingent coupon rate will be determined on the pricing date and will be at least 10.50% per annum
■ Automatic Call. If the stock closing price of the lowest performing Underlying Stock on any of the quarterly
calculation days from February 2025 to May 2027, inclusive, is greater than or equal to its starting price, the securities will be automatically called for the face amount plus a final contingent coupon payment
■ Potential Loss of Principal. If the securities are not automatically called prior to stated maturity, you will
receive the face amount at stated maturity if, and only if, the stock closing price of the lowest performing Underlying Stock on the final calculation day is greater than or equal to its downside
threshold price. If the stock closing price of the lowest performing Underlying Stock on the final calculation day is less than its downside threshold price, you will lose more than 30%, and possibly all, of the face amount of your
securities. The downside threshold price for each Underlying Stock is equal to 70% of its starting price
■ If the securities are not automatically called prior to stated maturity, you will have full downside exposure to the lowest performing Underlying Stock from
its starting price if its stock closing price on the final calculation day is less than its downside threshold price, but you will not participate in any appreciation of any Underlying Stock and will not receive any dividends
■ Your return on the securities will depend solely on the performance of the Underlying Stock that is the lowest
performing Underlying Stock on each calculation day. You will not benefit in any way from the performance of the better performing Underlying Stocks. Therefore, you will be adversely affected if any Underlying
Stock performs poorly, even if the other Underlying Stocks perform favorably
■ All payments on the securities are subject to the credit risk of The Bank of Nova Scotia (the “Bank”)
■ No exchange listing; designed to be held to maturity
|
Original Offering Price
|
Agent Discount(1)
|
Proceeds to The Bank of Nova Scotia(2)
|
|
Per Security
|
$1,000.00
|
$25.75
|
$974.25
|
Total
|
(1) |
Scotia Capital (USA) Inc. or one of our affiliates will purchase the aggregate face amount of the securities and as part of the distribution, will sell the securities to WFS at a discount of up to $25.75 (2.575%)
per security. WFS will provide selected dealers, which may include Wells Fargo Advisors (“WFA”, the trade name of the retail brokerage business of Wells Fargo Clearing Services, LLC and Wells Fargo Advisors Financial Network, LLC), with a
selling concession of up to $17.50 (1.75%) per security, and WFA will receive a distribution expense fee of $0.75 (0.075%) per security for securities sold by WFA. In respect of certain securities sold in this offering, we may pay a fee of
up to $2.50 per security to selected securities dealers in consideration for marketing and other services in connection with the distribution of the securities to other securities dealers. See “Terms of the Securities—Agents” herein and
“Supplemental Plan of Distribution (Conflicts of Interest)” in the accompanying product supplement for additional information.
|
(2) |
Excludes any profits from hedging. For additional considerations relating to hedging activities see “Selected Risk Considerations — Risks Relating To The Estimated Value Of The Securities And Any Secondary Market
— The Inclusion of Dealer Spread and Projected Profit from Hedging in the Original Offering Price is Likely to Adversely Affect Secondary Market Prices” in this pricing supplement.
|
Scotia Capital (USA) Inc.
|
Wells Fargo Securities
|
Market Linked Securities—Auto-Callable with Contingent Coupon and Contingent Downside
Principal at Risk Securities Linked to the Lowest Performing of the common stock of Apple Inc., the common stock of
Alphabet Inc. and the common stock of Microsoft Corporation due August 19, 2027
|
Terms of the Securities
|
Issuer:
|
The Bank of Nova Scotia (the “Bank”).
|
||
Market Measures:
|
The common stock of Apple Inc., the common stock of Alphabet Inc. and the common stock of Microsoft Corporation (each referred to as an “Underlying Stock,” and
collectively as the “Underlying Stocks”).
|
||
Pricing Date*:
|
August 16, 2024.
|
||
Issue Date*:
|
August 21, 2024. We expect that delivery of the securities will be made against payment for the securities on the issue date, which is more than one business day following
the pricing date. Notwithstanding anything to the contrary in the accompanying product supplement, under Rule 15c6-1 of the Securities Exchange Act of 1934, as amended, trades in the secondary market generally are required to settle in one
business day, unless the parties to any such trade expressly agree otherwise. Accordingly, purchasers who wish to trade the securities on any date prior to one business day before delivery will be required to specify alternative settlement
arrangements to prevent a failed settlement.
|
||
Original Offering
Price:
|
$1,000 per security.
|
||
Face Amount:
|
$1,000 per security. References in this pricing supplement to a “security” are to a security with a face amount of $1,000.
|
||
Contingent Coupon
Payment:
|
On each contingent coupon payment date, you will receive a contingent coupon payment at a per annum rate equal to the contingent coupon rate if, and only if, the stock closing price of the lowest performing Underlying Stock on the related calculation day is greater than or equal to its coupon threshold price. Each “contingent coupon payment,” if any, will be
calculated per security as follows: ($1,000 × contingent coupon rate) / 4. Any contingent coupon payment will be rounded to the nearest cent, with one-half cent rounded upward.
If the stock closing price of the lowest performing Underlying Stock on any calculation day is less than its coupon threshold price, you will not
receive any contingent coupon payment on the related contingent coupon payment date. If the stock closing price of the lowest performing Underlying Stock is less than its coupon threshold price on all calculation days, you will not receive
any contingent coupon payments over the term of the securities.
|
||
Contingent Coupon
Payment Dates:
|
Quarterly, on the third business day following each calculation day (as each such calculation day may be postponed pursuant to “—Market Disruption Events and Postponement
Provisions” below, if applicable); provided that the contingent coupon payment date with respect to the final calculation day will be the stated maturity date.
|
||
Contingent Coupon
Rate:
|
The “contingent coupon rate” will be determined on the pricing date and will be at least 10.50% per annum.
|
||
Automatic Call:
|
If the stock closing price of the lowest performing Underlying Stock on any of the calculation days from February 2025 to May 2027, inclusive, is greater than or equal to
its starting price, the securities will be automatically called, and on the related call settlement date you will be entitled to receive a cash payment per security in U.S. dollars equal to the face amount plus a final contingent coupon
payment. The securities will not be subject to automatic call until the second calculation day, which is approximately six months after the issue date.
If the securities are automatically called, they will cease to be outstanding on the related call settlement date and you will have no further rights under the securities
after such call settlement date. You will not receive any notice from us if the securities are automatically called.
|
||
Calculation Days*:
|
Quarterly, on the 16th day of each February, May, August and November, commencing November 2024 and ending in August 2027, each subject to postponement as described below under “—Market Disruption
Events and Postponement Provisions.” We refer to the calculation day scheduled to occur in August 2027 (expected to be August 16, 2027) as the “final calculation day.”
|
||
Call Settlement Date:
|
Three business days after the applicable calculation day (as each such calculation day may be postponed pursuant to “—Market Disruption Events and Postponement Provisions”
below, if applicable).
|
||
Stated Maturity
Date*:
|
August 19, 2027, subject to postponement. The securities are not subject to repayment at the option of any holder of the securities prior to the stated maturity date.
|
Market Linked Securities—Auto-Callable with Contingent Coupon and Contingent Downside
Principal at Risk Securities Linked to the Lowest Performing of the common stock of Apple Inc., the common stock of
Alphabet Inc. and the common stock of Microsoft Corporation due August 19, 2027
|
Maturity Payment
Amount:
|
If the securities are not automatically called prior to the stated maturity date, you will be entitled to receive on the stated maturity date a cash payment per security
in U.S. dollars equal to the maturity payment amount (in addition to the final contingent coupon payment, if due). The “maturity payment amount” per security will equal:
• if the ending price of the lowest performing Underlying Stock
on the final calculation day is greater than or equal to its downside threshold price: $1,000; or
• if the ending price of the lowest performing Underlying Stock on the final calculation day is less
than its downside threshold price:
|
||
$1,000 × performance factor of the lowest performing Underlying Stock on the final calculation day
|
|||
If the securities are not automatically called prior to stated maturity and the ending price of the lowest performing Underlying Stock on the final
calculation day is less than its downside threshold price, you will lose more than 30%, and possibly all, of the face amount of your securities at stated maturity.
Any return on the securities will be limited to the sum of your contingent coupon payments, if any. You will not participate in any appreciation of any
Underlying Stock, but you will have full downside exposure to the lowest performing Underlying Stock on the final calculation day if the ending price of that Underlying Stock is less than its downside threshold price.
|
|||
Lowest Performing
Underlying Stock:
|
For any calculation day, the “lowest performing Underlying Stock” will be the Underlying Stock with the lowest performance factor on that calculation day.
|
||
Performance Factor:
|
With respect to an Underlying Stock on any calculation day, its stock closing price on such calculation day divided by its
starting price (expressed as a percentage).
|
||
Stock Closing Price:
|
With respect to each Underlying Stock, stock closing price and adjustment factor have the meanings set forth under “General Terms of the Securities—Certain Terms for
Securities Linked to an Underlying Stock—Certain Definitions” in the accompanying product supplement.
|
||
Starting Price:
|
With respect to the common stock of Apple Inc.: $ , its stock closing price on the pricing date.
With respect to the common stock of Alphabet Inc.: $ , its stock closing price on the pricing date.
With respect to the common stock of Microsoft Corporation: $ , its stock closing price on the pricing
date.
|
||
Ending Price:
|
The “ending price” of an Underlying Stock will be its stock closing price on the final calculation day.
|
||
Coupon Threshold
Price:
|
With respect to the common stock of Apple Inc.: $ , which is equal to 70% of its starting price.
With respect to the common stock of Alphabet Inc.: $ , which is equal to 70% of its starting price.
With respect to the common stock of Microsoft Corporation: $ , which is equal to 70% of its starting price.
|
||
Downside Threshold
Price:
|
With respect to the common stock of Apple Inc.: $ , which is equal to 70% of its starting price.
With respect to the common stock of Alphabet Inc.: $ , which is equal to 70% of its starting price.
With respect to the common stock of Microsoft Corporation: $ , which is equal to 70% of its starting
price.
|
||
Market Disruption
Events and
Postponement
Provisions:
|
Each calculation day is subject to postponement due to non-trading days and the occurrence of a market disruption event. In addition, the stated maturity date will be
postponed if the final calculation day is postponed and will be adjusted for non-business days. For more information regarding adjustments to the calculation days and the stated maturity date, see “General Terms of the
Securities—Consequences of a Market Disruption Event; Postponement of a Calculation Day—Securities Linked to Multiple Market Measures” and “—Payment Dates” in the accompanying product supplement. For purposes of the accompanying product
supplement, each call settlement date and the stated maturity date is a “payment date.” In addition, for information regarding the circumstances that may result in a market disruption event, see “General Terms of the Securities—Certain
Terms for Securities Linked to an Underlying Stock—Market Disruption Events” in the accompanying product supplement.
|
||
Calculation Agent:
|
Scotia Capital Inc., an affiliate of the Bank
|
||
Material Tax
Consequences:
|
For a discussion of Canadian income tax considerations to a holder of owning the securities, see “Canadian Income Tax Consequences” herein. For a discussion of United
States federal income tax considerations to a holder's ownership and disposition of the securities, see “U.S. Federal Income Tax Consequences” herein.
|
Market Linked Securities—Auto-Callable with Contingent Coupon and Contingent Downside
Principal at Risk Securities Linked to the Lowest Performing of the common stock of Apple Inc., the common stock of
Alphabet Inc. and the common stock of Microsoft Corporation due August 19, 2027
|
Tax
Redemption:
|
The Bank (or its successor) may redeem the securities, in whole but not in part, at a redemption price determined by the Calculation Agent in a manner reasonably
calculated to preserve your and our relative economic position, if it is determined that changes in tax laws of Canada (or the jurisdiction of organization of the successor to the Bank) or of any political subdivision or taxing authority
thereof or therein affecting taxation or their interpretation will result in the Bank (or its successor) becoming obligated to pay additional amounts with respect to the securities. See “Tax Redemption” in the accompanying product
supplement.
|
||
Agents:
|
Scotia Capital (USA) Inc. and Wells Fargo Securities, LLC.
Scotia Capital (USA) Inc. or one of our affiliates will purchase the aggregate face amount of the securities and as part of the distribution, will sell the securities to
WFS at a discount of up to $25.75 (2.575%) per security. WFS will provide selected dealers, which may include WFA, with a selling concession of up to $17.50 (1.75%) per security, and WFA will receive a distribution expense fee of $0.75
(0.075%) per security for securities sold by WFA.
In addition, in respect of certain securities sold in this offering, we may pay a fee of up to $2.50 per security to selected securities dealers in consideration for
marketing and other services in connection with the distribution of the securities to other securities dealers.
See also “Supplemental Plan of Distribution (Conflicts of Interest)” in the accompanying product supplement.
The price at which you purchase the securities includes costs that the Bank, the Agents or their respective affiliates expect to incur and profits that the Bank, the
Agents or their respective affiliates expect to realize in connection with hedging activities related to the securities, as set forth above. These costs and profits will likely reduce the secondary market price, if any secondary market
develops, for the securities. As a result, you may experience an immediate and substantial decline in the market value of your securities on the pricing date. See “Selected Risk Considerations — Risks Relating To The Estimated Value Of The
Securities And Any Secondary Market — The Inclusion of Dealer Spread and Projected Profit from Hedging in the Original Offering Price is Likely to Adversely Affect Secondary Market Prices” in this pricing supplement.
|
||
Status:
|
The securities will constitute direct, senior, unsubordinated and unsecured obligations of the Bank ranking pari passu with all
other direct, senior, unsecured and unsubordinated indebtedness of the Bank from time to time outstanding (except as otherwise prescribed by law). Holders will not have the benefit of any insurance under the provisions of the CDIC Act, the
U.S. Federal Deposit Insurance Act or under any other deposit insurance regime.
|
||
Listing:
|
The securities will not be listed on any securities exchange or automated quotation system
|
||
Use of Proceeds:
|
General corporate purposes
|
||
Clearance and
Settlement:
|
The Depository Trust Company
|
||
Canadian
Bail-in:
|
The securities are not bail-inable debt securities under the CDIC Act
|
||
Denominations:
|
$1,000 and any integral multiple of $1,000.
|
||
CUSIP / ISIN:
|
06417Y5Q8 / US06417Y5Q89
|
Market Linked Securities—Auto-Callable with Contingent Coupon and Contingent Downside
Principal at Risk Securities Linked to the Lowest Performing of the common stock of Apple Inc., the common stock of
Alphabet Inc. and the common stock of Microsoft Corporation due August 19, 2027
|
Additional Information about the Issuer and the Securities
|
• |
Product Supplement No. WF-1 dated August 29, 2022:
|
• |
Prospectus Supplement dated December 29, 2021:
|
• |
Prospectus dated December 29, 2021:
|
Market Linked Securities—Auto-Callable with Contingent Coupon and Contingent Downside
Principal at Risk Securities Linked to the Lowest Performing of the common stock of Apple Inc., the common stock of
Alphabet Inc. and the common stock of Microsoft Corporation due August 19, 2027
|
Estimated Value of the Securities
|
Market Linked Securities—Auto-Callable with Contingent Coupon and Contingent Downside
Principal at Risk Securities Linked to the Lowest Performing of the common stock of Apple Inc., the common stock of
Alphabet Inc. and the common stock of Microsoft Corporation due August 19, 2027
|
Investor Considerations
|
◾ |
seek an investment with contingent coupon payments at a rate of at least 10.50% per annum (to be determined on the pricing date) until the earlier of stated maturity or automatic call, if, and only if,
the stock closing price of the lowest performing Underlying Stock on the applicable calculation day is greater than or equal to 70% of its starting price;
|
◾ |
understand that if the ending price of the lowest performing Underlying Stock on the final calculation day has declined by more than 30% from the starting price, they will be fully exposed to the decline in the lowest performing
Underlying Stock from the starting price and will lose more than 30%, and possibly all, of the face amount at stated maturity;
|
◾ |
are willing to accept the risk that they may receive few or no contingent coupon payments over the term of the securities;
|
◾ |
understand that the securities may be automatically called prior to stated maturity and that the term of the securities may be as short as approximately six months;
|
◾ |
understand that the return on the securities will depend solely on the performance of the Underlying Stock that is the lowest performing Underlying Stock on each calculation day and that they will not benefit in any way from the
performance of the better performing Underlying Stocks;
|
◾ |
understand that the securities are riskier than alternative investments linked to only one of the Underlying Stocks or linked to a basket composed of each Underlying Stock;
|
◾ |
understand and are willing to accept the full downside risks of each Underlying Stock;
|
◾ |
are willing to forgo participation in any appreciation of any Underlying Stock and dividends on the common stock of any Underlying Stock; and
|
◾ |
are willing to hold the securities until maturity.
|
◾ |
seek a liquid investment or are unable or unwilling to hold the securities to maturity;
|
◾ |
require full payment of the face amount of the securities at stated maturity;
|
◾ |
seek a security with a fixed term;
|
◾ |
are unwilling to purchase securities with an estimated value as of the pricing date that is lower than the original offering price and that may be as low as the lower estimated value set forth on the cover page;
|
◾ |
are unwilling to accept the risk that the stock closing price of the lowest performing Underlying Stock on the final calculation day may decline by more than 30% from its starting price;
|
◾ |
seek certainty of current income over the term of the securities;
|
◾ |
seek exposure to the upside performance of any or each Underlying Stock;
|
◾ |
seek exposure to a basket composed of each Underlying Stock or a similar investment in which the overall return is based on a blend of the performances of the Underlying Stocks, rather than solely on the lowest performing Underlying
Stock;
|
◾ |
are unwilling to accept the risk of exposure to the Underlying Stocks;
|
◾ |
are unwilling to accept the credit risk of the Bank; or
|
◾ |
prefer the lower risk of conventional fixed income investments with comparable maturities issued by companies with comparable credit ratings.
|
Market Linked Securities—Auto-Callable with Contingent Coupon and Contingent Downside
Principal at Risk Securities Linked to the Lowest Performing of the common stock of Apple Inc., the common stock of
Alphabet Inc. and the common stock of Microsoft Corporation due August 19, 2027
|
Determining Payment On A Contingent Coupon Payment Date and at Maturity
|
Market Linked Securities—Auto-Callable with Contingent Coupon and Contingent Downside
Principal at Risk Securities Linked to the Lowest Performing of the common stock of Apple Inc., the common stock of
Alphabet Inc. and the common stock of Microsoft Corporation due August 19, 2027
|
Hypothetical Payout Profile
|
Market Linked Securities—Auto-Callable with Contingent Coupon and Contingent Downside
Principal at Risk Securities Linked to the Lowest Performing of the common stock of Apple Inc., the common stock of
Alphabet Inc. and the common stock of Microsoft Corporation due August 19, 2027
|
Selected Risk Considerations
|
Market Linked Securities—Auto-Callable with Contingent Coupon and Contingent Downside
Principal at Risk Securities Linked to the Lowest Performing of the common stock of Apple Inc., the common stock of
Alphabet Inc. and the common stock of Microsoft Corporation due August 19, 2027
|
Market Linked Securities—Auto-Callable with Contingent Coupon and Contingent Downside
Principal at Risk Securities Linked to the Lowest Performing of the common stock of Apple Inc., the common stock of
Alphabet Inc. and the common stock of Microsoft Corporation due August 19, 2027
|
Market Linked Securities—Auto-Callable with Contingent Coupon and Contingent Downside
Principal at Risk Securities Linked to the Lowest Performing of the common stock of Apple Inc., the common stock of
Alphabet Inc. and the common stock of Microsoft Corporation due August 19, 2027
|
• |
Investing In The Securities Is Not The Same As Investing In The Underlying Stocks. Investing in the securities is not equivalent to investing in the Underlying Stocks. As an investor in the
securities, your return will not reflect the return you would realize if you actually owned and held the Underlying Stocks for a period similar to the term of the securities because you will not receive any dividend payments, distributions
or any other payments paid on the Underlying Stocks. As a holder of the securities, you will not have any voting rights or any other rights that holders of the Underlying Stocks would have.
|
• |
Historical Prices Of An Underlying Stock Should Not Be Taken As An Indication Of The Future Performance Of Such Underlying Stock During The Term Of The Securities.
|
• |
The Securities May Become Linked To The Common Stock Of A Company Other Than An Original Underlying Stock Issuer.
|
• |
We, The Agents And Our Respective Affiliates Cannot Control Actions By An Underlying Stock Issuer.
|
• |
We, The Agents And Our Respective Affiliates Have No Affiliation With Any Underlying Stock Issuer And Have Not Independently Verified Their Public Disclosure Of Information.
|
• |
You Have Limited Anti-dilution Protection.
|
• |
Hedging Activities By The Bank And/Or The Agents May Negatively Impact Investors In The Securities And Cause Our Respective Interests And Those Of Our Clients And Counterparties To Be Contrary To Those Of
Investors In The Securities.
|
• |
Market Activities By The Bank Or The Agents For Their Own Respective Accounts Or For Their Respective Clients Could Negatively Impact Investors In The Securities.
|
Market Linked Securities—Auto-Callable with Contingent Coupon and Contingent Downside
Principal at Risk Securities Linked to the Lowest Performing of the common stock of Apple Inc., the common stock of
Alphabet Inc. and the common stock of Microsoft Corporation due August 19, 2027
|
• |
The Bank, The Agents And Their Respective Affiliates Regularly Provide Services To, Or Otherwise Have Business Relationships With, A Broad Client Base, Which Has Included And May Include Issuers Of An
Underlying Stock, The Sponsor Or Investment Advisor For A Fund And/Or The Issuers Of Securities Included In An Index Or Held By A Fund.
|
• |
Other Investors In The Securities May Not Have The Same Interests As You.
|
• |
There Are Potential Conflicts Of Interest Between You And The Calculation Agent.
|
Market Linked Securities—Auto-Callable with Contingent Coupon and Contingent Downside
Principal at Risk Securities Linked to the Lowest Performing of the common stock of Apple Inc., the common stock of
Alphabet Inc. and the common stock of Microsoft Corporation due August 19, 2027
|
Hypothetical Returns
|
Hypothetical performance factor of
lowest performing Underlying Stock on
final calculation day
|
Hypothetical maturity payment amount
per security
|
175.00%
|
$1,000.00
|
160.00%
|
$1,000.00
|
150.00%
|
$1,000.00
|
140.00%
|
$1,000.00
|
130.00%
|
$1,000.00
|
120.00%
|
$1,000.00
|
110.00%
|
$1,000.00
|
100.00%
|
$1,000.00
|
90.00%
|
$1,000.00
|
80.00%
|
$1,000.00
|
70.00%
|
$1,000.00
|
69.00%
|
$690.00
|
60.00%
|
$600.00
|
50.00%
|
$500.00
|
40.00%
|
$400.00
|
30.00%
|
$300.00
|
25.00%
|
$250.00
|
0.00%
|
$0.00
|
Market Linked Securities—Auto-Callable with Contingent Coupon and Contingent Downside
Principal at Risk Securities Linked to the Lowest Performing of the common stock of Apple Inc., the common stock of
Alphabet Inc. and the common stock of Microsoft Corporation due August 19, 2027
|
Hypothetical Contingent Coupon Payments
|
Apple Inc.
|
Alphabet
Inc.
|
Microsoft
Corporation
|
||
Hypothetical starting price:
|
$100.00
|
$100.00
|
$100.00
|
|
Hypothetical stock closing price on relevant calculation day:
|
$90.00
|
$70.00
|
$80.00
|
|
Hypothetical coupon threshold price:
|
$70.00
|
$70.00
|
$70.00
|
|
Performance factor (stock closing price on calculation day divided by starting price):
|
90.00%
|
70.00%
|
80.00%
|
Apple Inc.
|
Alphabet
Inc.
|
Microsoft
Corporation
|
||
Hypothetical starting price:
|
$100.00
|
$100.00
|
$100.00
|
|
Hypothetical stock closing price on relevant calculation day:
|
$69.00
|
$105.00
|
$110.00
|
|
Hypothetical coupon threshold price:
|
$70.00
|
$70.00
|
$70.00
|
|
Performance factor (stock closing price on calculation day divided by starting price):
|
69.00%
|
105.00%
|
110.00%
|
Market Linked Securities—Auto-Callable with Contingent Coupon and Contingent Downside
Principal at Risk Securities Linked to the Lowest Performing of the common stock of Apple Inc., the common stock of
Alphabet Inc. and the common stock of Microsoft Corporation due August 19, 2027
|
Apple Inc.
|
Alphabet Inc.
|
Microsoft
Corporation
|
||
Hypothetical starting price:
|
$100.00
|
$100.00
|
$100.00
|
|
Hypothetical stock closing price on relevant calculation day:
|
$105.00
|
$130.00
|
$120.00
|
|
Hypothetical coupon threshold price:
|
$70.00
|
$70.00
|
$70.00
|
|
Performance factor (stock closing price on calculation day divided by starting price):
|
105.00%
|
130.00%
|
120.00%
|
Market Linked Securities—Auto-Callable with Contingent Coupon and Contingent Downside
Principal at Risk Securities Linked to the Lowest Performing of the common stock of Apple Inc., the common stock of
Alphabet Inc. and the common stock of Microsoft Corporation due August 19, 2027
|
Hypothetical Payment at Stated Maturity
|
Apple Inc.
|
Alphabet Inc.
|
Microsoft
Corporation
|
||
Hypothetical starting price:
|
$100.00
|
$100.00
|
$100.00
|
|
Hypothetical ending price:
|
$145.00
|
$125.00
|
$120.00
|
|
Hypothetical coupon threshold price:
|
$70.00
|
$70.00
|
$70.00
|
|
Hypothetical downside threshold price:
|
$70.00
|
$70.00
|
$70.00
|
|
Performance factor (ending price divided by starting price):
|
145.00%
|
125.00%
|
120.00%
|
Apple Inc.
|
Alphabet Inc.
|
Microsoft
Corporation
|
||
Hypothetical starting price:
|
$100.00
|
$100.00
|
$100.00
|
|
Hypothetical ending price:
|
$80.00
|
$110.00
|
$105.00
|
|
Hypothetical coupon threshold price:
|
$70.00
|
$70.00
|
$70.00
|
|
Hypothetical downside threshold price:
|
$70.00
|
$70.00
|
$70.00
|
|
Performance factor (ending price divided by starting price):
|
80.00%
|
110.00%
|
105.00%
|
Market Linked Securities—Auto-Callable with Contingent Coupon and Contingent Downside
Principal at Risk Securities Linked to the Lowest Performing of the common stock of Apple Inc., the common stock of
Alphabet Inc. and the common stock of Microsoft Corporation due August 19, 2027
|
Apple Inc.
|
Alphabet
Inc.
|
Microsoft
Corporation
|
||
Hypothetical starting price:
|
$100.00
|
$100.00
|
$100.00
|
|
Hypothetical ending price:
|
$120.00
|
$90.00
|
$45.00
|
|
Hypothetical coupon threshold price:
|
$70.00
|
$70.00
|
$70.00
|
|
Hypothetical downside threshold price:
|
$70.00
|
$70.00
|
$70.00
|
|
Performance factor (ending price divided by starting price):
|
120.00%
|
90.00%
|
45.00%
|
Market Linked Securities—Auto-Callable with Contingent Coupon and Contingent Downside
Principal at Risk Securities Linked to the Lowest Performing of the common stock of Apple Inc., the common stock of
Alphabet Inc. and the common stock of Microsoft Corporation due August 19, 2027
|
The Underlying Stocks
|
Market Linked Securities—Auto-Callable with Contingent Coupon and Contingent Downside
Principal at Risk Securities Linked to the Lowest Performing of the common stock of Apple Inc., the common stock of
Alphabet Inc. and the common stock of Microsoft Corporation due August 19, 2027
|
Market Linked Securities—Auto-Callable with Contingent Coupon and Contingent Downside
Principal at Risk Securities Linked to the Lowest Performing of the common stock of Apple Inc., the common stock of
Alphabet Inc. and the common stock of Microsoft Corporation due August 19, 2027
|
Market Linked Securities—Auto-Callable with Contingent Coupon and Contingent Downside
Principal at Risk Securities Linked to the Lowest Performing of the common stock of Apple Inc., the common stock of
Alphabet Inc. and the common stock of Microsoft Corporation due August 19, 2027
|
Canadian Income Tax Consequences
|
U.S. Federal Income Tax Consequences
|
Market Linked Securities—Auto-Callable with Contingent Coupon and Contingent Downside
Principal at Risk Securities Linked to the Lowest Performing of the common stock of Apple Inc., the common stock of
Alphabet Inc. and the common stock of Microsoft Corporation due August 19, 2027
|
1 Year Bank Nova Scotia Halifax Chart |
1 Month Bank Nova Scotia Halifax Chart |
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