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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 index:
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S&P 500® Index (Bloomberg Ticker: “SPX”)
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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 (1 security)
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Interest:
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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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August 31, 2027, subject to postponement for certain market disruption events and as described in the accompanying product supplement.
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Maturity date:
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September 3, 2027, subject to postponement for certain market disruption events and as described in the accompanying product supplement.
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Payment at maturity
per security:
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◾ If the final index value is greater than the initial index value:
$1,000.00 + supplemental redemption amount, subject to the maximum payment at maturity
◾ If the final index value is less than or equal to the initial index value:
$1,000.00 + ($1,000.00 × underlying return), subject to the minimum payment at maturity
If the final index value is less than the initial index value, you will lose 1% for every 1% that the final index value falls below the initial index value,
provided that the payment at maturity will not be less than the minimum payment at maturity. Accordingly, you could lose up to 10.00% of your investment in the securities. All payments on the securities are subject to the credit risk
of BNS.
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Underlying return:
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(final index value − initial index value) / initial index value
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Supplemental
redemption amount:
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$1,000.00 × underlying return
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Maximum gain:
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24.65%
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Maximum payment at
maturity:
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$1,246.50 per security (124.65% of the stated principal amount)
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Minimum payment at
maturity:
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$950.00 per security (95.00% of the stated principal amount)
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Initial index value:
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The index closing value of the underlying index on the pricing date
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Final index value:
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The index closing value of the underlying index on the valuation date
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CUSIP / ISIN:
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06417Y5S4 / US06417Y5S46
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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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$30.00 per stated principal amount
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Estimated value on the
pricing date:
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Expected to be between $929.62 and $959.62 per stated principal amount. 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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Underlying Return
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Payment at Maturity
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+50.00%
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$1,246.50
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+40.00%
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$1,246.50
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+30.00%
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$1,246.50
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+24.65%
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$1,246.50
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+20.00%
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$1,200.00
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+15.00%
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$1,150.00
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+10.00%
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$1,100.00
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+5.00%
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$1,050.00
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0.00%
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$1,000.00
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-2.00%
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$980.00
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-4.00%
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$960.00
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-5.00%
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$950.00
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-20.00%
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$950.00
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-30.00%
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$950.00
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-40.00%
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$950.00
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-50.00%
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$950.00
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-60.00%
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$950.00
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-70.00%
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$950.00
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-80.00%
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$950.00
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-90.00%
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$950.00
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-100.00%
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$950.00
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▪ |
You may receive no positive return and the securities provide for a minimum payment at maturity of only 95% of the stated principal amount.
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▪ |
The stated payout from the issuer applies only at maturity.
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▪ |
Your potential return on the securities is limited to the maximum gain.
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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 value of the underlying index at any time other than the valuation date.
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▪ |
Owning the securities is not the same as owning the index constituent stocks.
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▪ |
An investment in the securities involves market risk associated with the underlying index.
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▪ |
There can be no assurance that the investment view implicit in the securities will be successful.
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▪ |
The underlying index reflects price return, not total return.
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▪ |
Changes affecting the underlying index could have an adverse effect on the market value of, and any amount payable on, the securities.
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▪ |
There is no affiliation between the index sponsor and BNS, and BNS is not responsible for any disclosure by such index sponsor.
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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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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.
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▪ |
Activities conducted by BNS and its affiliates may impact the value of the underlying index 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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▪ |
Because the securities are subject to special rules governing CPDI for U.S. federal income tax purposes, you generally will be required to pay taxes on ordinary income from the securities even though you
will not receive any payment on the securities prior to the maturity date.
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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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