We could not find any results for:
Make sure your spelling is correct or try broadening your search.
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 | |
---|---|---|---|---|---|---|---|---|
0.08 | 0.17% | 48.02 | 48.3406 | 47.88 | 48.14 | 839,706 | 23:02:52 |
ISSUER FREE WRITING PROSPECTUS
|
|
Filed Pursuant to Rule 433
|
|
Registration Statement No. 333-261476
|
|
Dated March 8, 2024
|
SUMMARY TERMS
|
||
Issuer:
|
The Bank of Nova Scotia
|
|
Issue:
|
Senior Note Program, Series A
|
|
Underlying index:
|
S&P 500® Index (Bloomberg Ticker: “SPX”)
|
|
Stated principal amount:
|
$1,000.00 per security
|
|
Pricing date:
|
March 25, 2024
|
|
Original issue date:
|
March 28, 2024 (3 business days after the pricing date; see preliminary pricing supplement).
|
|
Final determination date:
|
March 27, 2034, subject to postponement for certain market disruption events and as described in the accompanying product supplement.
|
|
Maturity date:
|
March 30, 2034, subject to postponement for certain market disruption events and as described in the accompanying product supplement.
|
|
Call feature:
|
BNS may elect, on or before any applicable determination date (other than the first determination date and the final determination date), to redeem the securities at its discretion in
whole, but not in part (an “issuer call”), on the contingent coupon payment date corresponding to such determination date (the “redemption date”), regardless of the index closing value on such determination date. If BNS elects to redeem
the securities prior to maturity, the securities will be redeemed for an amount per security equal to the redemption payment on the redemption date. No further payments will be made on the securities once they have been redeemed.
BNS may elect to redeem the securities at its sole discretion regardless of the performance of the underlying index.
|
|
Redemption payment:
|
The early redemption payment will be an amount equal to (i) the stated principal amount plus (ii) any contingent quarterly coupon with respect to the applicable determination date.
|
|
Contingent quarterly
coupon:
|
■
|
If the index closing value on any determination date is greater than or equal to the coupon threshold level, we will pay a contingent quarterly
coupon of $17.95 (equivalent to 7.18% per annum of the stated principal amount) per security on the related contingent quarterly coupon date.
|
■
|
If the index closing value on any determination date is less than the coupon threshold level, we will not pay a contingent quarterly coupon with
respect to that determination date.
|
|
Determination dates:
|
Quarterly (as set forth on the cover of the preliminary pricing supplement), subject to postponement for non-trading days and certain market disruption events as described in the
accompanying product supplement.
|
|
Contingent coupon
payment dates:
|
Quarterly (as set forth on the cover of the preliminary pricing supplement), subject to postponement for non-business days and certain market disruption events as described in the
accompanying product supplement
|
|
Payment at maturity:
|
■
|
If the final index value is greater than or equal to the downside threshold level:
(i) the stated principal amount plus (ii) the contingent quarterly coupon otherwise payable with respect to the final determination date
|
■
|
If the final index value is less than the downside threshold level:
(i) the stated principal amount plus (ii) the stated principal amount times the underlying return
If the final index value of the underlying index is less than the downside threshold level, the payment at maturity will be less than 75% of the stated
principal amount and could be as low as zero.
|
|
Underlying return:
|
(final index value – initial index value) / initial index value
|
|
Coupon threshold level:
|
75% of the initial index value.
|
|
Downside threshold level:
|
75% of the initial index value.
|
|
Initial index value:
|
The index closing value on the pricing date.
|
|
Final index value:
|
The index closing value on the final determination date.
|
|
CUSIP / ISIN:
|
06417Y2A6 / US06417Y2A64
|
|
Listing:
|
The securities will not be listed or displayed on any securities exchange or any electronic communications network.
|
|
Commission:
|
$6.00 per stated principal amount.
|
|
Estimated value on the
pricing date:
|
Expected to be between $881.42 and $921.42 per security. See “Risk Factors” in the preliminary pricing supplement.
|
|
Preliminary pricing supplement
|
HYPOTHETICAL PAYOUT
|
Change in Underlying Index
|
Payment at Maturity (excluding any
contingent quarterly coupon payable
at maturity)
|
+50.00%
|
$1,000.00
|
+40.00%
|
$1,000.00
|
+30.00%
|
$1,000.00
|
+20.00%
|
$1,000.00
|
+10.00%
|
$1,000.00
|
0.00%
|
$1,000.00
|
-10.00%
|
$1,000.00
|
-20.00%
|
$1,000.00
|
-25.00%
|
$1,000.00
|
-26.00%
|
$740.00
|
-30.00%
|
$700.00
|
-40.00%
|
$600.00
|
-50.00%
|
$500.00
|
-60.00%
|
$400.00
|
-70.00%
|
$300.00
|
-80.00%
|
$200.00
|
-90.00%
|
$100.00
|
-100.00%
|
$0.00
|
▪ |
You may lose up to your entire investment in the securities.
|
▪ |
Contingent repayment of stated principal amount only at maturity.
|
▪ |
You may not receive any contingent quarterly coupons.
|
▪ |
Greater expected volatility with respect to the underlying index generally reflects a higher contingent quarterly coupon and a higher expectation as of the pricing date that the final index value could be less
than the downside threshold level.
|
▪ |
BNS may elect to redeem the securities and the securities are subject to reinvestment risk.
|
▪ |
An investment in securities with contingent quarterly coupon and call features may be more sensitive to interest rate risk than an investment in securities without such features.
|
▪ |
The contingent quarterly coupon, if any, is based solely on the index closing value on only the related determination date.
|
▪ |
Your potential return on the securities is limited, you will not participate in any appreciation of the underlying index and you will not realize a return beyond the returns represented by the contingent quarterly
coupons received, if any, during the term of the securities.
|
▪ |
The level of the underlying index will be affected by various factors that interact in complex and unpredictable ways.
|
▪ |
There can be no assurance that the investment view implicit in the securities will be successful.
|
▪ |
The underlying index reflects price return, not total return.
|
▪ |
Changes affecting the underlying index could have an adverse effect on the market value of, and any amount payable on, the securities.
|
▪ |
There is no affiliation between the index sponsor and BNS, and BNS is not responsible for any disclosure by such.
|
▪ |
BNS’ initial estimated value of the securities at the time of pricing (when the terms of your securities are set on the pricing date) will be lower than the issue price of the securities.
|
▪ |
Neither BNS’ nor SCUSA’s estimated value of the securities at any time is determined by reference to credit spreads or the borrowing rate BNS would pay for its conventional fixed-rate debt securities.
|
▪ |
BNS’ initial estimated value of the securities does not represent future values of the securities and may differ from others’ (including SCUSA’s) estimates
|
▪ |
The securities have limited liquidity.
|
▪ |
The price at which SCUSA would buy or sell your securities (if SCUSA makes a market, which it is not obligated to do) will be based on SCUSA’s estimated value of your securities. SCUSA’s estimated value of the
securities is determined by reference to its pricing models and takes into account BNS’ internal funding rate.
|
▪ |
The price of the securities prior to maturity will depend on a number of factors and may be substantially less than the stated principal amount.
|
▪ |
Payments on the securities are subject to the credit risk of BNS.
|
▪ |
Hedging activities by BNS and SCUSA 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.
|
▪ |
We, SCUSA and our other affiliates regularly provide services to, or otherwise have business relationships with, a broad client base, which has included and may include us and the index constituent stock issuers
and the market activities by us, SCUSA or our other affiliates for our or their own respective accounts or for our clients could negatively impact investors in the securities.
|
▪ |
Activities conducted by BNS and its affiliates may impact the level of the underlying index and the value of the securities.
|
▪ |
The calculation agent will have significant discretion with respect to the securities, which may be exercised in a manner that is adverse to your interests.
|
▪ |
BNS and its affiliates may publish research or make opinions or recommendations that are inconsistent with an investment in the securities.
|
▪ |
Uncertain tax treatment. Significant aspects of the tax treatment of the securities are uncertain. You should consult your tax advisor about your tax situation. See “Additional Information About the Securities —
Tax Considerations” and “— Material Canadian Income Tax Consequences” in the preliminary pricing supplement.
|
1 Year Bank Nova Scotia Halifax Chart |
1 Month Bank Nova Scotia Halifax Chart |
It looks like you are not logged in. Click the button below to log in and keep track of your recent history.
Support: +44 (0) 203 8794 460 | support@advfn.com
By accessing the services available at ADVFN you are agreeing to be bound by ADVFN's Terms & Conditions