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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 | |
---|---|---|---|---|---|---|---|---|
-0.20 | -0.43% | 46.54 | 46.94 | 46.21 | 46.94 | 524,462 | 18:06:33 |
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PRICING ADDENDUM*
Dated January 25, 2024 to the
Pricing Supplement dated December 8, 2023
Filed Pursuant to Rule 424(b)(3)
Registration Statement No. 333-261476
(To Prospectus dated December 29, 2021,
Prospectus Supplement dated December 29, 2021,
Underlier Supplement dated December 29, 2021
and Product Supplement dated December 29, 2021)
|
Investment Description
|
• |
If the underlying performance factor is equal to or greater than 147% (meaning that the underlying performance
factor is 147% or more, which equals an increase in the final level of at least 47% from the initial level), BNS will pay you a cash payment per Security at maturity resulting in a return equal to the maximum gain of 94.665%.
|
• |
If the underlying performance factor is equal to or greater than 100% and less than 147%, BNS will pay you a cash
payment per Security at maturity resulting in a return equal to the sum of (a) 1.815 times the difference between the underlying performance factor and 100%, plus (b) 9.36%.
|
• |
If the underlying performance factor is equal to or greater than 96% and less than 100%, BNS will pay you a cash
payment per Security at maturity resulting in a return equal to 2.34 times the difference between the underlying performance factor and 96%.
|
• |
If the underlying performance factor is less than 96% and equal to or greater than 88% (which equals a decrease
in the final level by more than 4% but by no more than 12% from the initial level), BNS will pay you a cash payment per Security at maturity that is less than the principal amount, resulting in a percentage loss on your investment in the
Securities equal to 1.50 times the difference between the underlying performance factor and 96%. You will suffer a loss of 1.50% of your principal amount for
each 1% that the underlying performance factor is less than 96%.
|
• |
If the underlying performance factor is less than 88%, BNS will pay you a cash payment per Security at maturity
that is less than the principal amount, resulting in a percentage loss on your investment in the Securities equal to the percentage that the underlying performance factor is less than 100%. In extreme situations, you could lose all of your
investment in the Securities.
|
Features
|
☐ |
Exposure to Performance of the Underlying Asset up to the Maximum Gain: If the underlying
performance factor is at least 96%, at maturity the Securities will provide a positive return based on the excess of the underlying performance factor over 96% and otherwise as described in the accompanying pricing supplement, subject
to the maximum gain.
|
☐
|
Potential for Full Downside Market Exposure: If
the underlying performance factor is less than 96%, which equals a decrease from the initial level to the final level of more than 4%, BNS will pay you a cash payment per Security at maturity that is less than the principal amount:
|
o |
If the underlying performance factor is less than 96% but equal to or greater than 88% (meaning that there is a decrease from the initial level to the final level of more than 4% but equal to or less than 12%), the percentage loss on your
investment in the Securities will be equal to 1.50 times the difference between the underlying performance factor and 96%. In this scenario, you will suffer a loss of 1.50% for each 1% that the underlying performance factor is less than
96%.
|
o |
If the underlying performance factor is less than 88% (meaning that there is a decrease
from the initial level to the final level of more than 12%), the percentage loss on your investment will be equal to the percentage that the underlying performance factor is less than 100%. In other words, you will be fully exposed to
the negative performance of the underlying asset from the initial level to the final level and, in extreme situations, you could lose all of your investment
in the Securities. The contingent repayment of principal applies only if you hold the Securities to maturity. Any payment on the Securities, including any repayment of principal, is subject to the creditworthiness of BNS.
|
Key Dates
|
Initial Valuation Period
|
December 7, 2023 through January 25, 2024 (inclusive)
|
Trade Date
|
December 8, 2023
|
Settlement Date
|
December 13, 2023
|
Final Valuation Period*
|
September 10, 2029 through Final Valuation Date (inclusive)
|
Final Valuation Date*
|
December 6, 2029
|
Maturity Date*
|
December 11, 2029
|
Notice to investors: the Securities are significantly riskier than conventional debt instruments. The issuer is not necessarily
obligated to repay the principal amount of the Securities at maturity, and the Securities may have the same downside market risk as that of an investment in the underlying asset. This market risk is in addition to the credit risk inherent
in purchasing a debt obligation of BNS.
|
Security Offering
|
Underlying Asset
|
Bloomberg Ticker
|
Maximum Gain
|
Maximum Payment at Maturity
|
Initial Level
|
CUSIP
|
ISIN
|
Russell 2000® Index
|
RTY
|
94.665%
|
$19.4665 per Security
|
1,970.173
|
06418E771
|
US06418E7711
|
Offering of Securities
|
Issue Price to Public
|
Underwriting Discount(1)(2)
|
Proceeds to The Bank of Nova Scotia(1)(2)
|
|||
Total
|
Per Security
|
Total
|
Per Security
|
Total
|
Per Security
|
|
Securities linked to the Russell 2000® Index
|
$3,000,000.00
|
$10.00
|
$7,500.00
|
$0.025
|
$2,992,500.00
|
$9.975
|
(1) |
Scotia Capital (USA) Inc. (“SCUSA”), our affiliate, has agreed to purchase the Securities at the principal amount and, as part of the distribution of the Securities, has agreed to sell the
Securities to UBS Financial Services Inc. (“UBS”) at the discount specified in the table above. See “Supplemental Plan of Distribution (Conflicts of Interest); Secondary Markets (if any)” in the accompanying pricing supplement for
additional information.
|
(2) |
This amount excludes any profits to BNS, SCUSA or any of our other affiliates from hedging. See “Key Risks” and “Supplemental Plan of Distribution (Conflicts of Interest); Secondary Markets
(if any)” in the accompanying pricing supplement for additional considerations relating to hedging activities.
|
* |
This pricing addendum specifies the initial level for the Securities’ underlying asset and supplements the accompanying pricing supplement dated December 8, 2023 and the accompanying product
supplement, underlier supplement, prospectus supplement and prospectus. The Securities have the terms specified in these documents. See “Additional Information about BNS and the Securities” herein.
|
Scotia Capital (USA) Inc.
|
UBS Financial Services Inc.
|
Additional Information about BNS and the Securities
|
♦ |
Pricing Supplement dated December 8, 2023
|
♦ |
Product Supplement (Market-Linked Notes, Series A) dated December 29, 2021:
|
♦ |
Underlier Supplement dated December 29, 2021:
|
♦ |
Prospectus Supplement dated December 29, 2021:
|
♦ |
Prospectus dated December 29, 2021:
|
1 Year Bank Nova Scotia Halifax Chart |
1 Month Bank Nova Scotia Halifax Chart |
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