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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 | |
---|---|---|---|---|---|---|---|---|
0.00 | 0.00% | 46.28 | 0 | 09:25:30 |
Filed Pursuant to Rule 424(b)(2)
Registration No. 333-
215597
|
●
|
if the final basket level is
greater than
the initial basket level (the basket return is
positive
), you will receive an amount in cash equal to the
sum
of (i) $1,000
plus
(ii) the
product
of (a) $1,000
times
(b) the basket return
times
(c) the participation rate of 152%;
|
●
|
if the final basket level is
equal to
the initial basket level or
less than
the initial basket level but not by more than the buffer percentage (the basket return is
zero
or
negative
but
equal to or greater than
-20.00%), you will receive an amount in cash equal to $1,000; or
|
●
|
if the final basket level is
less than
the initial basket level by more than the buffer percentage (the basket return is
negative
and is
less than
-20.00%), you will receive an amount in cash equal to the
sum
of (i) $1,000
plus
(ii) the
product
of (a) $1,000
times
(b) the buffer rate
times
(c) the
sum of
the basket return
plus
the buffer percentage.
|
|
Per Note
|
Total
|
Original Issue Price
|
100.00%
|
$7,500,000.00
|
Underwriting commissions
|
1.55%
|
$116,250.00
|
Proceeds to The Bank of Nova Scotia
|
98.45%
|
$7,383,750.00
|
Scotia Capital (USA) Inc.
|
Goldman Sachs & Co. LLC
Dealer
|
Summary
|
Issuer:
|
The Bank of Nova Scotia (the "Bank”)
|
|
CUSIP/ISIN:
|
064159MM5 / US064159MM54
|
|
Type of Notes:
|
Buffered Enhanced Participation Basket-Linked Notes
|
|
Basket Components:
|
The EURO STOXX 50
®
Index (Bloomberg Ticker: “SX5E Index”), as published by STOXX Limited (“STOXX”); TOPIX (Bloomberg Ticker: “TPX Index”), as maintained by the Tokyo Stock Exchange, Inc. (“TSE”); the FTSE
®
100 Index (Bloomberg Ticker: “UKX Index”), as published by FTSE Russell, a company owned by the London Stock Exchange (“FTSE”); the Swiss Market Index (Bloomberg Ticker: “SMI Index”), as published by SIX Group Ltd. (“SIX Group”); and the S&P/ASX 200 Index (Bloomberg Ticker: “AS51 Index”), as published by S&P Dow Jones Indices LLC (“S&P”); see “Information Regarding the Basket and the Basket Components” on page P-24. We refer to each of STOXX, TSE, FTSE, SIX Group and S&P as a “basket component sponsor”, and together as the “basket component sponsors”.
|
|
Minimum Investment and Denominations:
|
$1,000 and integral multiples of $1,000 in excess thereof
|
|
Principal Amount:
|
$1,000 per note; $7,500,000 in the aggregate for all the offered notes; the aggregate principal amount of the offered notes may be increased if the Bank, at its sole option, decides to sell an additional amount of the offered notes on a date subsequent to the date of this pricing supplement.
|
|
Original Issue Price:
|
100% of the principal amount of each note
|
|
Currency:
|
U.S. dollars
|
|
Trade Date:
|
October 17, 2018
|
|
Original Issue Date:
|
October 24, 2018.
Delivery of the notes will be made against payment therefor on or about the 5
th
business day following the date of pricing of the notes (this settlement cycle being referred to as “T+5”). Under Rule 15c6-1 of the Securities Exchange Act of 1934, as amended, trades in the secondary market generally are required to settle in two business days (T+2), unless the parties to any such trade expressly agree otherwise. Accordingly, purchasers who wish to trade the notes on or prior to the third business day after the trade date will be required, by virtue of the fact that each note initially will settle in 5 business days (T+5), to specify alternative settlement arrangements to prevent a failed settlement.
|
|
Valuation Date:
|
October 19, 2020.
The valuation date could be delayed by the occurrence of a market disruption event. See “General Terms of the Notes — Market Disruption Events” beginning on page PS-20 in the accompanying product prospectus supplement. Further, if the valuation date is not a trading day, the valuation date will be postponed in the same manner as if a market disruption event has occurred. |
Maturity Date:
|
October 21, 2020, subject to adjustment due to a market disruption event, a non-trading day or a non-business day, as described in more detail under “General Terms of the Notes—Maturity Date” on page PS-18 in the accompanying product prospectus supplement.
|
|
Principal at Risk:
|
You will lose all or a substantial portion of your initial investment at maturity if there is a percentage decrease from the initial basket level to the final basket level of more than the buffer percentage.
|
|
Purchase at amount other than principal amount:
|
The amount we will pay you on the maturity date for your notes will not be adjusted based on the original issue price you pay for your notes, so if you acquire notes at a premium (or discount) to the principal amount and hold them to the maturity date, it could affect your investment in a number of ways. The return on your investment in such notes will be lower (or higher) than it would have been had you purchased the notes at the principal amount. Also, the stated buffer level would not offer the same measure of protection to your investment as would be the case if you had purchased the notes at the principal amount. See “Additional Risks—If you purchase your notes at a premium to the principal amount, the return on your investment will be lower than the return on notes purchased at the principal amount and the impact of certain key terms of the notes will be negatively affected” on page P-21 of this pricing supplement.
|
|
Fees and Expenses:
|
As part of the distribution of the notes, SCUSA or one of our affiliates will sell notes to GS&Co. at a discount reflecting commissions of $15.50 per $1,000 principal amount of notes. The commissions per $1,000 principal amount are comprised of $2.50 of fees and $13.00 of selling commission.
See "Supplemental Plan of Distribution (Conflicts of Interest)" in this pricing supplement.
The price at which you purchase the notes includes costs that the Bank or its affiliates expect to incur and profits that the Bank or its affiliates expect to realize in connection with hedging activities related to the notes, as set forth below under “Supplemental Plan of Distribution (Conflicts of Interest)”. These costs and profits will likely reduce the secondary market price, if any secondary market develops, for the notes. As a result, you may experience an immediate and substantial decline in the market value of your notes on the trade date. See “Additional Risks—Hedging activities by the Bank and GS&Co. may negatively impact investors in the notes and cause our respective interests and those of our clients and counterparties to be contrary to those of investors in the notes” in this pricing supplement.
|
Payment at Maturity:
|
The payment at maturity will be based on the performance of the basket and will be calculated as follows:
·
If the final basket level is greater than the initial basket level, then the payment at maturity will equal:
o
principal amount + (principal amount x basket return x participation rate)
|
|||
·
If the final basket level is greater than or equal to the buffer level, but less than or equal to the initial basket level, then the payment at maturity will equal the principal amount
|
||||
·
If the final basket level is less than the buffer level, then the payment at maturity will equal:
o
principal amount + [principal amount x buffer rate x (basket return + buffer percentage)]
In this case you will suffer a percentage loss on your initial investment equal to the buffer rate multiplied by the negative basket return in excess of the buffer percentage. Accordingly, you could lose up to 100% of your initial investment.
|
||||
Initial Basket Level:
|
100.
|
|||
Initial Weighted Value:
|
The initial weighted value for each of the basket components equals the
product
of the initial weight of such basket component
times
the initial basket level. The initial weight of each basket component is shown in the table below:
|
|||
Basket Component
|
Initial Weight in Basket
|
|||
EURO STOXX 50
®
Index
|
36.00%
|
|||
TOPIX
|
27.00%
|
|||
FTSE
®
100 Index
|
20.00%
|
|||
Swiss Market Index
|
9.00%
|
|||
S&P/ASX 200 Index
|
8.00%
|
|||
Initial EURO STOXX 50
®
Index Level:
|
3,243.08
|
|||
Initial TOPIX Level:
|
1,713.87
|
|||
Initial FTSE
®
100 Index Level:
|
7,054.60
|
|||
Initial Swiss Market Index Level:
|
8,750.35
|
|||
Initial S&P/ASX 200 Index Level:
|
5,939.095
|
|||
Final EURO STOXX 50
®
Index Level:
|
The closing level of such basket component calculated on the valuation date. In certain special circumstances, the final level will be determined by the calculation agent, in its discretion. See “General Terms of the Notes — Unavailability of the Level of the Reference Asset on a Valuation Date” on page PS-19 and “General Terms of the Notes — Market Disruption Events” beginning on page PS-20 in the accompanying product prospectus supplement.
|
|||
Final TOPIX Level:
|
The closing level of such basket component calculated on the valuation date. In certain special circumstances, the final level will be determined by the calculation agent,
in its discretion. See “General Terms of the Notes — Unavailability of the Level of the Reference Asset on a Valuation Date” on page PS-19 and “General Terms of the Notes — Market Disruption Events” beginning on page PS-20 in the accompanying product prospectus supplement.
|
Final FTSE
®
100 Index Level:
|
The closing level of such basket component calculated on the valuation date. In certain special circumstances, the final level will be determined by the calculation agent, in its discretion. See “General Terms of the Notes — Unavailability of the Level of the Reference Asset on a Valuation Date” on page PS-19 and “General Terms of the Notes — Market Disruption Events” beginning on page PS-20 in the accompanying product prospectus supplement.
|
|
Final Swiss Market Index level:
|
The closing level of such basket component calculated on the valuation date. In certain special circumstances, the final level will be determined by the calculation agent, in its discretion. See “General Terms of the Notes — Unavailability of the Level of the Reference Asset on a Valuation Date” on page PS-19 and “General Terms of the Notes — Market Disruption Events” beginning on page PS-20 in the accompanying product prospectus supplement.
|
|
Final S&P/ASX 200 Index level:
|
The closing level of such basket component calculated on the valuation date. In certain special circumstances, the final level will be determined by the calculation agent, in its discretion. See “General Terms of the Notes — Unavailability of the Level of the Reference Asset on a Valuation Date” on page PS-19 and “General Terms of the Notes — Market Disruption Events” beginning on page PS-20 in the accompanying product prospectus supplement.
|
|
Final Basket Level:
|
The
sum
of the following: (1) the final EURO STOXX 50
®
Index
level
divided
by the initial EURO STOXX 50
®
Index
level,
multiplied
by the initial weighted value of the EURO STOXX 50
®
Index
plus
(2) the final TOPIX level
divided
by the initial TOPIX level,
multiplied
by the initial weighted value of the TOPIX
plus
(3) the final FTSE
®
100 Index
level
divided
by the initial FTSE
®
100 Index
level,
multiplied
by the initial weighted value of the FTSE
®
100 Index
plus
(4) the final Swiss Market Index
level
divided
by the initial Swiss Market Index
level,
multiplied
by the initial weighted value of the Swiss Market Index
plus
(5) the final S&P/ASX 200 Index
level
divided
by the initial S&P/ASX 200 Index
level,
multiplied
by the initial weighted value of the S&P/ASX 200 Index.
|
|
Basket Return:
|
The
quotient
of (1) the final basket level
minus
the initial basket level
divided
by (2) the initial basket level, expressed as a percentage.
|
|
Participation Rate:
|
152%
|
|
Buffer Level:
|
80.00% of the initial basket level
|
|
Buffer Percentage:
|
20.00%
|
|
Buffer Rate:
|
The
quotient
of the initial basket level
divided
by the buffer level, which equals 125.00%.
|
|
Closing Level:
|
As used herein, the “closing level” of a basket component on any date will be determined based upon the closing level published on the Bloomberg page for such basket component, or any successor page on Bloomberg or any successor service, as applicable, on such date.
|
Trading Day:
|
(i) With respect to the EURO STOXX 50
®
Index, a day on which the level of such basket component is calculated and published by the basket component sponsor, regardless of whether one or more of the principal securities markets for the constituent stocks comprising such basket component (“component stocks”) are closed on that day and (ii) with respect to each of the TOPIX, the FTSE
®
100 Index, the Swiss Market Index and the S&P/ASX 200 Index, a day on which the respective principal securities markets for all of the component stocks are open for trading, such basket component sponsor is open for business and such basket component is calculated and published by such basket component sponsor; although a basket component sponsor may publish a level with respect to a basket component on a day when one or more of the principal securities markets for such component stocks are closed, that day would not be a trading day for purposes of such basket component.
|
|
Form of Notes:
|
Book-entry
|
|
Calculation Agent:
|
Scotia Capital Inc., an affiliate of the Bank
|
|
Status:
|
The notes will constitute direct, unsubordinated and unsecured obligations of the Bank ranking
pari passu
with all other direct, 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
Canada Deposit Insurance Corporation Act
, the U.S.
Federal Deposit Insurance Act
or under any other deposit insurance regime of any jurisdiction.
|
|
Tax Redemption:
|
The Bank (or its successor) may redeem the notes, 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 or their interpretation will result in the Bank (or its successor) becoming obligated to pay additional amounts with respect to the notes. See “Tax Redemption” below.
|
|
Listing:
|
The notes will not be listed on any securities exchange or quotation system.
|
|
Use of Proceeds:
|
General corporate purposes
|
|
Clearance and Settlement:
|
Depository Trust Company
|
|
Business Day:
|
New York and Toronto
|
|
Terms Incorporated:
|
All of the terms appearing above the item under the caption “General Terms of the Notes” beginning on page PS-15 in the accompanying product prospectus supplement, as modified by this pricing supplement.
|
ADDITIONAL TERMS OF YOUR NOTES
|
INVESTOR SUITABILITY
|
·
|
You fully understand the risks inherent in an investment in the notes, including the risk of losing all or a substantial portion of your initial investment.
|
·
|
You believe the level of the basket will appreciate over the term of the notes.
|
·
|
You are willing to invest in the notes based on the participation rate indicated above.
|
·
|
You can tolerate a loss of up to 100% of your initial investment and are willing to make an investment that, if the final basket level is less than the buffer level, has an accelerated downside risk greater than the downside market risk of an investment in the basket components or in the component stocks.
|
·
|
You are willing to hold the notes to maturity, a term of approximately 24 months, and accept that there may be little or no secondary market for the notes.
|
·
|
You can tolerate fluctuations in the price of the notes prior to maturity that may be similar to or exceed the downside fluctuations in the level of the basket components or the price of the component stocks.
|
·
|
You do not seek current income from your investment and are willing to forego any dividends paid on the component stocks.
|
·
|
You seek an investment with exposure to companies in the Eurozone, Japan, United Kingdom, Switzerland and Australia.
|
·
|
You are willing to assume the credit risk of the Bank for all payments under the notes, and understand that if the Bank defaults on its obligations you may not receive any amounts due to you including any repayment of principal.
|
·
|
You do not fully understand the risks inherent in an investment in the notes, including the risk of losing all or a substantial portion of your initial investment.
|
·
|
You believe that the level of the basket will decline during the term of the notes.
|
·
|
You are unwilling to invest in the notes based on the participation rate indicated above.
|
·
|
You require an investment designed to guarantee a full return of principal at maturity.
|
·
|
You cannot tolerate a loss of up to 100% of your initial investment or are not willing to make an investment that, if the final basket level is less than the buffer level, has an accelerated downside risk greater than the downside market risk of an investment in the basket components or in the component stocks.
|
·
|
You cannot tolerate fluctuations in the price of the notes prior to maturity that may be similar to or exceed the downside fluctuations in the level of the basket components or the price of the component stocks.
|
·
|
You seek current income from your investment or are unwilling to forego any dividends paid on the component stocks.
|
·
|
You are unable or unwilling to hold the notes to maturity, a term of approximately 24 months, or you seek an investment for which there will be a secondary market.
|
·
|
You do not seek an investment with exposure to companies in the Eurozone, Japan, United Kingdom, Switzerland and Australia.
|
·
|
You are not willing to assume the credit risk of the Bank for all payments under the notes.
|
HYPOTHETICAL PAYMENTS AT MATURITY ON THE NOTES
|
Hypothetical Final Basket Level
(as Percentage of Initial Basket Level)
|
Hypothetical Payment at Maturity
(as Percentage of Principal Amount)
|
140.000%
|
160.800%
|
130.000%
|
145.600%
|
120.000%
|
130.400%
|
110.000%
|
115.200%
|
100.000%
|
100.000%
|
95.000%
|
100.000%
|
90.000%
|
100.000%
|
85.000%
|
100.000%
|
80.000%
|
100.000%
|
70.000%
|
87.500%
|
60.000%
|
75.000%
|
50.000%
|
62.500%
|
25.000%
|
31.250%
|
0.000%
|
0.000%
|
Column A
|
Column B
|
Column C
|
Column D
|
Column E
|
||
Basket Component
|
Initial Level
|
Hypothetical Final Level
|
Column B / Column A
|
Initial Weighted Value
|
Column C × Column D
|
|
EURO STOXX 50
®
Index
|
3,243.08
|
3,275.51
|
101.00%
|
36.00
|
36.36
|
|
TOPIX
|
1,713.87
|
1,748.15
|
102.00%
|
27.00
|
27.54
|
|
FTSE
®
100 Index
|
7,054.60
|
7,266.24
|
103.00%
|
20.00
|
20.60
|
|
Swiss Market Index
|
8,750.35
|
9,450.38
|
108.00%
|
9.00
|
9.72
|
|
S&P/ASX 200 Index
|
5,939.095
|
7,126.914
|
120.00%
|
8.00
|
9.60
|
|
Final Basket Level:
|
103.82
|
|||||
Basket Return:
|
3.82%
|
Column A
|
Column B
|
Column C
|
Column D
|
Column E
|
||||
Basket Component
|
Initial Level
|
Hypothetical Final Level
|
Column B / Column A
|
Initial Weighted Value
|
Column C × Column D
|
|||
EURO STOXX 50
®
Index
|
3,243.08
|
972.92
|
30.00%
|
36.00
|
10.80
|
|||
TOPIX
|
1,713.87
|
514.16
|
30.00%
|
27.00
|
8.10
|
|||
FTSE
®
100 Index
|
7,054.60
|
7,054.60
|
100.00%
|
20.00
|
20.00
|
|||
Swiss Market Index
|
8,750.35
|
9,187.87
|
105.00%
|
9.00
|
9.45
|
|||
S&P/ASX 200 Index
|
5,939.095
|
6,236.050
|
105.00%
|
8.00
|
8.40
|
|||
Final Basket Level:
|
56.75
|
|||||||
Basket Return:
|
-43.25%
|
Column A
|
Column B
|
Column C
|
Column D
|
Column E
|
|||
Basket Component
|
Initial Level
|
Hypothetical Final Level
|
Column B / Column A
|
Initial Weighted Value
|
Column C × Column D
|
||
EURO STOXX 50
®
Index
|
3,243.08
|
1,621.54
|
50.00%
|
36.00
|
18.00
|
||
TOPIX
|
1,713.87
|
1,028.32
|
60.00%
|
27.00
|
16.20
|
||
FTSE
®
100 Index
|
7,054.60
|
4,232.76
|
60.00%
|
20.00
|
12.00
|
||
Swiss Market Index
|
8,750.35
|
5,687.73
|
65.00%
|
9.00
|
5.85
|
||
S&P/ASX 200 Index
|
5,939.095
|
3,266.502
|
55.00%
|
8.00
|
4.40
|
||
Final Basket Level:
|
56.45
|
||||||
Basket Return:
|
-43.55%
|
We cannot predict the actual final basket level or what the market value of your notes will be on any particular trading day, nor can we predict the relationship between the level of each basket component and the market value of your notes at any time prior to the maturity date. The actual amount that you will receive, if any, at maturity and the rate of return on the offered notes will depend on the actual basket return determined by the calculation agent as described above. Moreover, the assumptions on which the hypothetical returns are based may turn out to be inaccurate. Consequently, the amount of cash to be paid in respect of your notes, if any, on the maturity date may be very different from the information reflected in the examples above.
|
ADDITIONAL RISKS
|
INFORMATION REGARDING THE BASKET
AND THE BASKET COMPONENTS
|
SX5E
|
=
|
Free Float Market Capitalization of the SX5E
|
|
|
Divisor
|
|
·
|
application of expert judgment for index component pricing data,
|
·
|
adjustment of operational procedures,
|
·
|
postponement of index adjustments,
|
·
|
adjustment of selection lists,
|
·
|
change of weights of index constituents by adjusting the number of shares, free-float factors or weighting cap-factors, or
|
·
|
adjustment of index compositions.
|
●
|
The rights issue shares are included into the index with a theoretical price on the ex-date;
|
●
|
The rights issue shares must be listed on an eligible stock exchange and tradable starting on the ex-date, otherwise, only a price adjustment is made and the rights are not included;
|
●
|
The rights issue shares will have the same parameters as the parent company;
|
●
|
The rights issue shares will be removed at the close of the day they start to trade with traded price being available; and
|
●
|
The number of shares and weighting factors will be increased after the new rights issue shares have been listed.
|
·
|
sponsor, endorse, sell or promote the notes;
|
·
|
recommend that any person invest in the notes or any other financial products;
|
·
|
have any responsibility or liability for or make any decisions about the timing, amount or pricing of the notes;
|
·
|
have any responsibility or liability for the administration, management or marketing of the notes; and
|
·
|
consider the needs of the notes or the owners of the notes in determining, composing or calculating the Index or have any obligation to do so.
|
·
|
The Sponsor, Deutsche Börse Group and their licensors, research partners or data providers do not make any warranty, express or implied, and disclaim any and all warranty about:
|
o
|
the results to be obtained by the notes, the owner of the notes or any other person in connection with the use of the Index and the data included in the Index;
|
o
|
the accuracy, timeliness, and completeness of the Index or its data;
|
o
|
the merchantability and the fitness for a particular purpose or use of the Index or its data; and
|
o
|
the performance of the notes generally
|
·
|
STOXX, Deutsche Börse Group and their licensors, research partners or data providers give no warranty and exclude any
|
·
|
liability, for any errors, omissions or interruptions in the Index or its data; and
|
·
|
under no circumstances will Deutsche Börse Group and their licensors, research partners or data providers be liable (whether in negligence or otherwise) for any lost profits or indirect, punitive, special or consequential damages or losses, arising as a result of such errors, omissions or interruptions in the Index or its data or generally in relation to the notes, even in circumstances where the Sponsor Deutsche Börse Group and their licensors, research partners or data providers are aware that such loss or damage may occur.
|
Quarter Begin
|
Quarter End
|
Quarterly Closing High
|
Quarterly Closing Low
|
Quarterly Close
|
1/1/2012
|
3/31/2012
|
2,608.42
|
2,286.45
|
2,477.28
|
4/1/2012
|
6/30/2012
|
2,501.18
|
2,068.66
|
2,264.72
|
7/1/2012
|
9/30/2012
|
2,594.56
|
2,151.54
|
2,454.26
|
10/1/2012
|
12/31/2012
|
2,659.95
|
2,427.32
|
2,635.93
|
1/1/2013
|
3/31/2013
|
2,749.27
|
2,570.52
|
2,624.02
|
4/1/2013
|
6/30/2013
|
2,835.87
|
2,511.83
|
2,602.59
|
7/1/2013
|
9/30/2013
|
2,936.20
|
2,570.76
|
2,893.15
|
10/1/2013
|
12/31/2013
|
3,111.37
|
2,902.12
|
3,109.00
|
1/1/2014
|
3/31/2014
|
3,172.43
|
2,962.49
|
3,161.60
|
4/1/2014
|
6/30/2014
|
3,314.80
|
3,091.52
|
3,228.24
|
7/1/2014
|
9/30/2014
|
3,289.75
|
3,006.83
|
3,225.93
|
10/1/2014
|
12/31/2014
|
3,277.38
|
2,874.65
|
3,146.43
|
1/1/2015
|
3/31/2015
|
3,731.35
|
3,007.91
|
3,697.38
|
4/1/2015
|
6/30/2015
|
3,828.78
|
3,424.30
|
3,424.30
|
7/1/2015
|
9/30/2015
|
3,686.58
|
3,019.34
|
3,100.67
|
10/1/2015
|
12/31/2015
|
3,506.45
|
3,069.05
|
3,267.52
|
1/1/2016
|
3/31/2016
|
3,178.01
|
2,680.35
|
3,004.93
|
4/1/2016
|
6/30/2016
|
3,151.69
|
2,697.44
|
2,864.74
|
7/1/2016
|
9/30/2016
|
3,091.66
|
2,761.37
|
3,002.24
|
10/1/2016
|
12/31/2016
|
3,290.52
|
2,954.53
|
3,290.52
|
1/1/2017
|
3/31/2017
|
3,500.93
|
3,230.68
|
3,500.93
|
4/1/2017
|
6/30/2017
|
3,658.79
|
3,409.78
|
3,441.88
|
7/1/2017
|
9/30/2017
|
3,594.85
|
3,388.22
|
3,594.85
|
10/1/2017
|
12/31/2017
|
3,697.40
|
3,503.96
|
3,503.96
|
1/1/2018
|
3/31/2018
|
3,672.29
|
3,278.72
|
3,361.50
|
4/1/2018
|
6/30/2018
|
3,592.18
|
3,340.35
|
3,395.60
|
7/1/2018
|
9/30/2018
|
3,527.18
|
3,293.36
|
3,399.20
|
10/1/2018*
|
10/17/2018*
|
3,414.16
|
3,194.41
|
3,243.08
|
Sector:
|
Percentage (%)
|
Air Transportation
|
0.56%
|
Banks
|
6.76%
|
Chemicals
|
7.53%
|
Construction
|
2.84%
|
Electric Appliances
|
13.26%
|
Electric Power and Gas
|
1.74%
|
Fishery, Agriculture and Forestry
|
0.11%
|
Foods
|
4.01%
|
Glass and Ceramics Products
|
0.97%
|
Information & Communication
|
8.06%
|
Insurance
|
2.41%
|
Iron and Steel
|
1.08%
|
Land Transportation
|
4.29%
|
Machinery
|
5.23%
|
Marine Transportation
|
0.20%
|
Metal Products
|
0.60%
|
Mining
|
0.33%
|
Nonferrous Metals
|
0.82%
|
Oil and Coal Products
|
0.88%
|
Other Financing Business
|
1.18%
|
Other Products
|
2.14%
|
Pharmaceutical
|
5.12%
|
Precision Instruments
|
1.78%
|
Pulp and Paper
|
0.29%
|
Real Estate
|
2.30%
|
Retail Trade
|
4.92%
|
Rubber Products
|
0.73%
|
Securities and Commodities Futures
|
0.92%
|
Services
|
4.73%
|
Textiles and Apparels
|
0.61%
|
Transportation Equipment
|
8.47%
|
Warehousing and Harbor Transportation Service
|
0.19%
|
Wholesale Trade
|
4.91%
|
Index value = Base index value of 100 x
|
Current free-float - adjusted market value
Base market value
|
Event
|
Adjustment Date
|
Stock Price Used for Adjustment
|
Change of free-float weight
|
Date of change
|
Stock price at the end of trading on the business day before adjustment date
|
Public offering
|
Additional listing date (day after payment date). If listing date falls on a holiday, it will be the next business day
|
Stock price at the end of trading on the business day before adjustment date
|
Allocation of new shares to a third party
|
Five business days after additional listing date (two business days after payment date)
|
Stock price at the end of trading on the business day before adjustment date
|
Issues to shareholders with payment
|
Ex-rights date
|
Payment price per share
|
Exercise of subscription warrants
|
Last business day of the month following exercise
|
Stock price at the end of trading on the business day before adjustment date
|
Conversion of preferred shares
|
Last business day of the month following conversion
|
Stock price at the end of trading on the business day before adjustment date
|
Cancellation of treasury stock
|
Last business day of the month following cancellation
|
Stock price at the end of trading on the business day before adjustment date
|
Merger or acquisitions between a non- surviving constituent and another constituent
|
Delisting date of the non-surviving constituent
|
Stock price at the end of trading on the business day before adjustment date
|
Merger or acquisitions other than that described above
|
Listing change date (effective date)
|
Stock price at the end of trading on the business day before adjustment date
|
Rights offering
|
Ex-rights date
|
Payment price per share
|
Offering for sale of shares held by the Japanese government (Nippon Telegraph and Telephone and Japan Tobacco only)
|
Date determined by TSE (generally the delivery date)
|
Stock price at the end of trading on the business day before adjustment date
|
Company split (merged split)
|
Listing change date (the effective date)
|
Stock price at the end of trading on the business day before adjustment date
|
Other adjustments
|
Last business day of the month in which the information appears in “Sho- ho” (TSE Notice) or the last business day of the following month
|
Stock price at the end of trading on the business day before adjustment date
|
Quarter Begin
|
Quarter End
|
Quarterly Closing High
|
Quarterly Closing Low
|
Quarterly Close
|
1/1/2012
|
3/31/2012
|
872.42
|
725.24
|
854.35
|
4/1/2012
|
6/30/2012
|
856.05
|
695.51
|
770.08
|
7/1/2012
|
9/30/2012
|
778.70
|
706.46
|
737.42
|
10/1/2012
|
12/31/2012
|
859.80
|
713.95
|
859.80
|
1/1/2013
|
3/31/2013
|
1,058.10
|
871.88
|
1,034.71
|
4/1/2013
|
6/30/2013
|
1,276.03
|
991.34
|
1,133.84
|
7/1/2013
|
9/30/2013
|
1,222.72
|
1,106.05
|
1,194.10
|
10/1/2013
|
12/31/2013
|
1,302.29
|
1,147.58
|
1,302.29
|
1/1/2014
|
3/31/2014
|
1,306.23
|
1,139.27
|
1,202.89
|
4/1/2014
|
6/30/2014
|
1,269.04
|
1,132.76
|
1,262.56
|
7/1/2014
|
9/30/2014
|
1,346.43
|
1,228.26
|
1,326.29
|
10/1/2014
|
12/31/2014
|
1,447.58
|
1,177.22
|
1,407.51
|
1/1/2015
|
3/31/2015
|
1,592.25
|
1,357.98
|
1,543.11
|
4/1/2015
|
6/30/2015
|
1,679.89
|
1,528.99
|
1,630.40
|
7/1/2015
|
9/30/2015
|
1,691.29
|
1,375.52
|
1,411.16
|
10/1/2015
|
12/31/2015
|
1,605.94
|
1,442.74
|
1,547.30
|
1/1/2016
|
3/31/2016
|
1,509.67
|
1,196.28
|
1,347.20
|
4/1/2016
|
6/30/2016
|
1,407.50
|
1,204.48
|
1,245.82
|
7/1/2016
|
9/30/2016
|
1,352.67
|
1,209.88
|
1,322.78
|
10/1/2016
|
12/31/2016
|
1,552.36
|
1,301.16
|
1,518.61
|
1/1/2017
|
3/31/2017
|
1,577.40
|
1,506.33
|
1,512.60
|
4/1/2017
|
6/30/2017
|
1,624.07
|
1,459.07
|
1,611.90
|
7/1/2017
|
9/30/2017
|
1,676.17
|
1,590.71
|
1,674.75
|
10/1/2017
|
12/31/2017
|
1,831.93
|
1,673.62
|
1,817.56
|
1/1/2018
|
3/31/2018
|
1,911.07
|
1,664.94
|
1,716.30
|
4/1/2018
|
6/30/2018
|
1,815.25
|
1,703.80
|
1,730.89
|
7/1/2018
|
9/30/2018
|
1,822.44
|
1,676.20
|
1,817.25
|
10/1/2018*
|
10/17/2018*
|
1,824.03
|
1,675.44
|
1,713.87
|
Sector*
|
Percentage**
|
Oil & Gas
|
17.22%
|
Banks
|
12.00%
|
Personal & Household Goods
|
11.72%
|
Health Care
|
10.58%
|
Basic Resources
|
7.93%
|
Industrial Goods & Services
|
7.09%
|
Insurance
|
5.15%
|
Media
|
4.55%
|
Travel & Leisure
|
4.27%
|
Food & Beverages
|
4.02%
|
Telecommunications
|
3.20%
|
Retail
|
3.03%
|
Utilities
|
2.88%
|
Financial Services
|
2.52%
|
Construction & Materials
|
1.56%
|
Real Estate
|
0.96%
|
Chemicals
|
0.68%
|
Technology
|
0.64%
|
Type of Corporate Action
|
Adjustment
|
Adjustment to Divisor
|
Issue of new shares
|
Share weighting increased
|
Yes
|
Bonus issue of same stock or stock split
|
Number of shares held before issue or split divided by number of shares held after issue or split
|
No
|
Quarter Begin
|
Quarter End
|
Quarterly Closing High
|
Quarterly Closing Low
|
Quarterly Close
|
1/1/2012
|
3/31/2012
|
5,965.58
|
5,612.26
|
5,768.45
|
4/1/2012
|
6/30/2012
|
5,874.89
|
5,260.19
|
5,571.15
|
7/1/2012
|
9/30/2012
|
5,915.55
|
5,498.32
|
5,742.07
|
10/1/2012
|
12/31/2012
|
5,961.59
|
5,605.59
|
5,897.81
|
1/1/2013
|
3/31/2013
|
6,529.41
|
6,027.37
|
6,411.74
|
4/1/2013
|
6/30/2013
|
6,840.27
|
6,029.10
|
6,215.47
|
7/1/2013
|
9/30/2013
|
6,681.98
|
6,229.87
|
6,462.22
|
10/1/2013
|
12/31/2013
|
6,777.70
|
6,337.91
|
6,749.09
|
1/1/2014
|
3/31/2014
|
6,865.86
|
6,449.27
|
6,598.37
|
4/1/2014
|
6/30/2014
|
6,878.49
|
6,541.61
|
6,743.94
|
7/1/2014
|
9/30/2014
|
6,877.97
|
6,567.36
|
6,622.72
|
10/1/2014
|
12/31/2014
|
6,750.76
|
6,182.72
|
6,566.09
|
1/1/2015
|
3/31/2015
|
7,037.67
|
6,366.51
|
6,773.04
|
4/1/2015
|
6/30/2015
|
7,103.98
|
6,520.98
|
6,520.98
|
7/1/2015
|
9/30/2015
|
6,796.45
|
5,898.87
|
6,061.61
|
10/1/2015
|
12/31/2015
|
6,444.08
|
5,874.06
|
6,242.32
|
1/1/2016
|
3/31/2016
|
6,203.17
|
5,536.97
|
6,174.90
|
4/1/2016
|
6/30/2016
|
6,504.33
|
5,923.53
|
6,504.33
|
7/1/2016
|
9/30/2016
|
6,941.19
|
6,463.59
|
6,899.33
|
10/1/2016
|
12/30/2016
|
7,142.83
|
6,693.26
|
7,142.83
|
1/1/2017
|
3/31/2017
|
7,429.81
|
7,099.15
|
7,322.92
|
4/1/2017
|
6/30/2017
|
7,547.63
|
7,114.36
|
7,312.72
|
7/1/2017
|
9/30/2017
|
7,542.73
|
7,215.47
|
7,372.76
|
10/1/2017
|
12/31/2017
|
7,687.77
|
7,300.49
|
7,687.77
|
1/1/2018
|
3/31/2018
|
7,778.64
|
6,888.69
|
7,056.61
|
4/1/2018
|
6/30/2018
|
7,877.45
|
7,030.46
|
7,636.93
|
7/1/2018
|
9/30/2018
|
7,776.65
|
7,273.54
|
7,510.20
|
10/1/2018*
|
10/17/2018*
|
7,510.28
|
6,995.91
|
7,054.60
|
·
|
was first launched with a base level of 1,500 as of June 30, 1988; and
|
·
|
is sponsored, calculated, published and disseminated by SIX Group Ltd., certain of its subsidiaries, and the Management Committee of the SIX Swiss Exchange (the “Exchange”).
|
·
|
average free-float market capitalization (compared to the capitalization of the entire SIX Exchange index family), and
|
·
|
cumulative on order book turnover (compared to the total turnover of the SIX Exchange index family).
|
Swiss Market Index
|
=
|
Free Float Market Capitalization of the SMI
®
|
|
|
Divisor
|
|
Event
|
Divisor Change?
|
|
Regular cash dividend
|
No
|
|
Repayments of capital through reduction of a share’s par value
|
No
|
|
Special dividends, anniversary bonds and other extraordinary payments that, contrary to the company’s usual dividend policy, are paid out or declared extraordinary.
|
Yes
|
|
Share dividends (company’s own shares)
|
No
|
|
Share dividend (shares of another company)
|
Yes
|
¨
|
sponsor, endorse, sell or promote the notes.
|
¨
|
recommend that any person invest in the notes or any other securities.
|
¨
|
have any responsibility or liability for or make any decisions about the timing, amount or pricing of the notes.
|
¨
|
have any responsibility or liability for the administration, management or marketing of the notes.
|
¨
|
consider the needs of the notes or the owners of the notes in determining, composing or calculating the SMI Index or have any obligation to do so.
|
¨
|
SIX Swiss Exchange and its Licensors do not give any warranty, express or implied, and exclude any liability for:
|
o
|
The results to be obtained by the notes, the owner of the notes or any other person in connection with the use of the SMI Index and the data included in the SMI Index;
|
o
|
The accuracy, timeliness, and completeness of the SMI Index and its data;
|
o
|
The merchantability and the fitness for a particular purpose or use of the SMI Index and its data; or
|
o
|
The performance of the notes generally.
|
¨
|
SIX Swiss Exchange and its Licensors give no warranty and exclude any liability, for any errors, omissions or interruptions in the SMI Index or its data.
|
¨
|
Under no circumstances will SIX Swiss Exchange or its Licensors be liable (whether in negligence or otherwise) for any lost profits or indirect, punitive, special or consequential damages or losses, arising as a result of such errors, omissions or interruptions in the SMI Index or its data or generally in relation to the notes, even in circumstances where SIX Swiss Exchange or its Licensors are aware that such loss or damage may occur.
|
Quarter Begin
|
Quarter End
|
Quarterly Closing High
|
Quarterly Closing Low
|
Quarterly Close
|
1/1/2012
|
3/31/2012
|
6,341.33
|
5,970.49
|
6,235.51
|
4/1/2012
|
6/30/2012
|
6,299.38
|
5,713.34
|
6,066.86
|
7/1/2012
|
9/30/2012
|
6,613.45
|
6,109.41
|
6,495.88
|
10/1/2012
|
12/31/2012
|
6,973.69
|
6,508.66
|
6,822.44
|
1/1/2013
|
3/31/2013
|
7,864.39
|
7,020.46
|
7,813.67
|
4/1/2013
|
6/30/2013
|
8,407.61
|
7,249.47
|
7,683.04
|
7/1/2013
|
9/30/2013
|
8,105.39
|
7,675.29
|
8,022.60
|
10/1/2013
|
12/31/2013
|
8,351.38
|
7,755.26
|
8,202.98
|
1/1/2014
|
3/31/2014
|
8,532.99
|
8,092.53
|
8,453.82
|
4/1/2014
|
6/30/2014
|
8,752.86
|
8,280.53
|
8,554.52
|
7/1/2014
|
9/30/2014
|
8,840.17
|
8,274.65
|
8,835.14
|
10/1/2014
|
12/31/2014
|
9,212.85
|
8,057.54
|
8,983.37
|
1/1/2015
|
3/31/2015
|
9,396.29
|
7,899.59
|
9,128.98
|
4/1/2015
|
6/30/2015
|
9,471.46
|
8,780.91
|
8,780.91
|
7/1/2015
|
9/30/2015
|
9,526.79
|
8,278.07
|
8,513.41
|
10/1/2015
|
12/31/2015
|
9,016.56
|
8,375.31
|
8,818.09
|
1/1/2016
|
3/31/2016
|
8,701.46
|
7,496.62
|
7,807.89
|
4/1/2016
|
6/30/2016
|
8,292.45
|
7,594.49
|
8,020.15
|
7/1/2016
|
9/30/2016
|
8,320.99
|
7,898.21
|
8,139.01
|
10/1/2016
|
12/30/2016
|
8,259.45
|
7,593.20
|
8,219.87
|
1/1/2017
|
3/31/2017
|
8,704.39
|
8,229.01
|
8,658.89
|
4/1/2017
|
6/30/2017
|
9,127.61
|
8,529.28
|
8,906.89
|
7/1/2017
|
9/30/2017
|
9,176.99
|
8,814.54
|
9,157.46
|
10/1/2017
|
12/31/2017
|
9,452.32
|
9,084.04
|
9,381.87
|
1/1/2018
|
3/31/2018
|
9,611.61
|
8,509.29
|
8,740.97
|
4/1/2018
|
6/30/2018
|
9,000.89
|
8,456.95
|
8,609.30
|
7/1/2018
|
9/30/2018
|
9,201.22
|
8,529.59
|
9,087.99
|
10/1/2018*
|
10/17/2018*
|
9,175.21
|
8,639.19
|
8,750.35
|
·
|
was first launched in 1979 by the Australian Securities Exchange and was acquired and re-launched by its current basket component sponsor on April 3, 2000; and
|
·
|
is sponsored, calculated, published and disseminated by S&P Dow Jones Indices LLC (“S&P”).
|
Type of Corporate Action
|
Index Treatment
|
Divisor Adjustment Required
|
||
Cash dividend
|
None
|
No
|
||
Special Cash Dividend
|
Price adjustment needed
|
Yes
|
||
Stock dividend and/or split
|
Shares are multiplied by and price is divided by the split factor
|
No
|
||
Stock dividend from class A shares into existing class B shares, both of which are included in the AS51
|
Adjustment for price of A; adjustment for shares in B
|
Yes
|
||
Stock dividend of different class, same company and is not included in the AS51
|
Price adjustment
|
Yes
|
||
Reverse Split
|
Adjustment for price and shares
|
No
|
||
Rights Offering
|
Adjustment for price and shares
|
Yes
|
||
Rights offering for a new line
|
Adjustment for price
|
Yes
|
||
New share issuance
|
Adjustment for shares
|
Yes
|
||
Reduction of capital
|
Share adjustment
|
Yes
|
||
New addition to index
|
Share adjustment
|
Yes
|
||
Deletion from index
|
Share adjustment
|
Yes
|
||
Merger (acquisition by index company for stock)
|
Share increase
|
Yes
|
(i)
|
If an unexpected exchange closure occurs prior to the open of trading and it is indicated that trading will not open for a given day, S&P Dow Jones Indices will treat the day as an unscheduled market holiday.
|
(ii)
|
If a market disruption occurs intraday, S&P will wait for the impacted exchange to publish a list of closing prices, which will then be used to calculate the closing index values. If no list is published, the last trade for each security before the interruption is used to calculate the index closing value. If no trades were reported for a security, the previous closing price, adjusted for corporate actions, is used for index calculation.
|
Quarter Begin
|
Quarter End
|
Quarterly Closing High
|
Quarterly Closing Low
|
Quarterly Close
|
1/1/2012
|
3/31/2012
|
4,343.514
|
4,101.157
|
4,335.242
|
4/1/2012
|
6/30/2012
|
4,435.907
|
3,985.025
|
4,094.633
|
7/1/2012
|
9/30/2012
|
4,418.360
|
4,067.971
|
4,387.018
|
10/1/2012
|
12/31/2012
|
4,671.299
|
4,336.848
|
4,648.950
|
1/1/2013
|
3/30/2013
|
5,146.905
|
4,690.250
|
4,966.499
|
4/1/2013
|
6/30/2013
|
5,220.987
|
4,655.960
|
4,802.591
|
7/1/2013
|
9/30/2013
|
5,307.061
|
4,710.289
|
5,218.877
|
10/1/2013
|
12/31/2013
|
5,441.411
|
5,062.516
|
5,352.214
|
1/1/2014
|
3/31/2014
|
5,462.309
|
5,070.311
|
5,394.831
|
4/1/2014
|
6/30/2014
|
5,536.073
|
5,358.948
|
5,395.747
|
7/1/2014
|
9/30/2014
|
5,658.511
|
5,264.217
|
5,292.812
|
10/1/2014
|
12/31/2014
|
5,549.130
|
5,152.343
|
5,411.018
|
1/1/2015
|
3/31/2015
|
5,975.491
|
5,299.237
|
5,891.505
|
4/1/2015
|
6/30/2015
|
5,982.694
|
5,422.487
|
5,459.010
|
7/1/2015
|
9/30/2015
|
5,706.715
|
4,918.429
|
5,021.629
|
10/1/2015
|
12/31/2015
|
5,351.565
|
4,909.555
|
5,295.859
|
1/1/2016
|
3/31/2016
|
5,270.475
|
4,765.346
|
5,082.785
|
4/1/2016
|
6/30/2016
|
5,408.017
|
4,924.385
|
5,233.375
|
7/1/2016
|
9/30/2016
|
5,587.392
|
5,197.547
|
5,435.921
|
10/1/2016
|
12/31/2016
|
5,699.068
|
5,156.556
|
5,665.791
|
1/1/2017
|
3/31/2017
|
5,896.229
|
5,610.972
|
5,864.905
|
4/1/2017
|
6/30/2017
|
5,956.523
|
5,665.721
|
5,721.494
|
7/1/2017
|
9/30/2017
|
5,785.102
|
5,655.420
|
5,681.610
|
10/1/2017
|
12/31/2017
|
6,088.143
|
5,651.766
|
6,065.129
|
1/1/2018
|
3/31/2018
|
6,135.807
|
5,759.365
|
5,759.365
|
4/1/2018
|
6/30/2018
|
6,232.134
|
5,751.924
|
6,194.633
|
7/1/2018
|
9/30/2018
|
6,352.236
|
6,128.717
|
6,207.561
|
10/1/2018*
|
10/17/2018*
|
6,185.486
|
5,837.100
|
5,939.095
|
EVENTS OF DEFAULT AND ACCELERATION
|
·
|
the lowest amount that a qualified financial institution would charge to effect this assumption or undertaking, plus
|
·
|
the reasonable expenses, including reasonable attorneys’ fees, incurred by the trustees of your notes in preparing any documentation necessary for this assumption or undertaking.
|
·
|
no quotation of the kind referred to above is obtained, or
|
·
|
every quotation of that kind obtained is objected to within five business days after the due day as described above.
|
·
|
A-1 or higher by Standard & Poor’s Ratings Services, or any successor, or any other comparable rating then used by that rating agency, or
|
·
|
P-1 or higher by Moody’s Investors Service or any successor, or any other comparable rating then used by that rating agency.
|
TAX REDEMPTION
|
·
|
as a result of any change (including any announced prospective change) in or amendment to the laws (or any regulations or rulings promulgated thereunder) 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 any change in official position regarding the application or interpretation of such laws, regulations or rulings (including a holding by a court of competent jurisdiction), which change or amendment is announced or becomes effective on or after the trade date (or, in the case of a successor to the Bank, after the date of succession), and which in the written opinion to the Bank (or its successor) of legal counsel of recognized standing has resulted or will result (assuming, in the case of any announced prospective change, that such announced change will become effective as of the date specified in such announcement and in the form announced) in the Bank (or its successor) becoming obligated to pay, on the next succeeding date on which a payment is due, additional amounts with respect to the notes; or
|
·
|
on or after the trade date (or, in the case of a successor to the Bank, after the date of succession), any action has been taken by any taxing authority of, or any decision has been rendered by a court of competent jurisdiction in, Canada (or the jurisdiction of organization of the successor to the Bank) or any political subdivision or taxing authority thereof or therein, including any of those actions specified in the paragraph immediately above, whether or not such action was taken or decision was rendered with respect to the Bank (or its successor), or any change, amendment, application or interpretation shall be officially proposed, which, in any such case, in the written opinion to the Bank (or its successor) of legal counsel of recognized standing, will result (assuming, that such change, amendment or action is applied to the notes by the taxing authority and that, in the case of any announced prospective change, that such announced change will become effective as of the date specified in such announcement and in the form announced) in the Bank (or its successor) becoming obligated to pay, on the next succeeding date on which a payment is due, additional amounts with respect to the notes;
|
MATERIAL CANADIAN INCOME TAX CONSEQUENCES
|
MATERIAL U.S. FEDERAL INCOME TAX CONSIDERATIONS
|
·
|
a non-resident alien individual;
|
·
|
a non-U.S. corporation; or
|
·
|
an estate or trust that, in either case, is not subject to U.S. federal income tax on a net income basis on income or gain from the notes.
|
VALIDITY OF THE NOTES
|
1 Year Bank Nova Scotia Halifax Chart |
1 Month Bank Nova Scotia Halifax Chart |
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