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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 | 01:00:00 |
ISSUER FREE WRITING PROSPECTUS
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Filed Pursuant to Rule 433
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Registration Statement No. 333-261476
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Dated July 29, 2024
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SUMMARY TERMS
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Issuer:
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The Bank of Nova Scotia
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Issue:
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Senior Note Program, Series A
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Underlying stock:
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Common Stock of NVIDIA Corporation (Bloomberg Ticker: “NVDA UW”)
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Stated principal
amount:
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$1,000.00 per security
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Issue price:
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$1,000.00 per security
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Minimum investment:
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$1,000.00 (1 security)
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Coupon:
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None
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Pricing date:
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August 14, 2024
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Original issue date:
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August 19, 2024 (3 business days after the pricing date; see preliminary pricing supplement).
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Valuation date:
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February 27, 2026, subject to postponement for certain market disruption events as described in the accompanying product supplement.
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Maturity date:
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March 4, 2026, subject to postponement for certain market disruption events as described in the accompanying product supplement.
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Payment at maturity
per security:
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◾ If the final share price is greater than or equal to the initial share price:
$1,000.00 + fixed upside payment
The potential positive return on the securities is fixed and limited to the fixed upside
payment, regardless of whether or the extent to which the final share price exceeds the initial share price.
◾ If the final share price is less than the initial share price but greater than or equal to the trigger level:
$1,000.00
◾ If the final share price is less than the trigger level:
$1,000.00 + ($1,000.00 × underlying return)
If the final share price is less than the trigger level, you will lose 1% for every 1% that the final share
price falls below the initial share price and you could lose up to your entire investment in the securities.
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Underlying return:
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(final share price – initial share price) / initial share price
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Fixed upside
payment:
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$492.00 per security (49.20% of the stated principal amount)
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Trigger level:
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65.00% of the initial share price, as may be adjusted in the case of certain adjustment events as described in the accompanying product supplement
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Initial share price:
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The closing price of the underlying stock on the pricing date, as may be adjusted in the case of certain adjustment events as described in the accompanying product supplement
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Final share price:
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The closing price of the underlying stock on the valuation date, as may be adjusted in the case of certain adjustment events as described in the accompanying product supplement
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CUSIP/ISIN:
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06417Y5R6 / US06417Y5R62
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Listing:
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The securities will not be listed or displayed on any securities exchange or any electronic communications network.
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Commission:
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$25.00 per stated principal amount
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Estimated value on
the pricing date:
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Expected to be between $942.25 and $972.25 per security. See “Risk Factors” in the preliminary pricing supplement.
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Preliminary pricing
supplement
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HYPOTHETICAL PAYOUT
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Change in Underlying Stock
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Payment at Maturity
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+60.00%
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$1,492.00
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+50.00%
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$1,492.00
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+49.20%
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$1,492.00
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+45.00%
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$1,492.00
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+30.00%
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$1,492.00
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+15.00%
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$1,492.00
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0.00%
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$1,492.00
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-10.00%
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$1,000.00
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-20.00%
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$1,000.00
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-30.00%
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$1,000.00
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-35.00%
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$1,000.00
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-36.00%
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$640.00
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-40.00%
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$600.00
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-50.00%
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$500.00
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-60.00%
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$400.00
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-70.00%
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$300.00
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-80.00%
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$200.00
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-90.00%
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$100.00
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-100.00%
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$0.00
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▪ |
Risk of significant loss at maturity; you may lose up to your entire investment.
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▪ |
The stated payout from the issuer applies only at maturity.
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▪ |
The potential positive return on the securities is fixed and limited to the fixed upside payment.
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▪ |
You will not receive any interest payments.
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▪ |
The amount payable on the securities is not linked to the price of the underlying stock at any time other than the valuation date.
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▪ |
Owning the securities is not the same as owning the underlying stock.
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▪ |
The securities are subject to risks associated with investments in single equity securities.
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▪ |
There can be no assurance that the investment view implicit in the securities will be successful.
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▪ |
There is no affiliation between BNS and the underlying stock issuer.
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▪ |
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.
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▪ |
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.
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▪ |
BNS’ initial estimated value of the securities does not represent future values of the securities and may differ from others’ (including SCUSA’s) estimates.
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▪ |
The securities have limited liquidity.
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▪ |
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.
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▪ |
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.
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▪ |
Payments on the securities are subject to the credit risk of BNS.
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▪ |
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.
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▪ |
The calculation agent can make antidilution and other adjustments that may adversely affect the market value of, and any amount payable on, the securities.
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▪ |
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 underlying stock issuer 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.
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▪ |
Activities conducted by BNS and its affiliates may impact the market price of the underlying stock and the value of the securities.
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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.
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▪ |
BNS and its affiliates may publish research or make opinions or recommendations that are inconsistent with an investment in the securities.
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▪ |
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.
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