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 September 11, 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 Buffered PLUS
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Issue price:
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$1,000.00 per Buffered PLUS
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Minimum investment:
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$1,000.00 (1 Buffered PLUS)
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Interest:
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None
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Pricing date:
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September 30, 2024
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Original issue date:
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October 3, 2024 (3 business days after the pricing date; see preliminary pricing supplement).
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Valuation date:
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March 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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April 5, 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 Buffered PLUS:
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◾ If the final index value is greater than the initial index value:
$1,000.00 + leveraged upside payment
In no event will the payment at maturity exceed the maximum payment at maturity.
◾ If the final index value is less than or equal to the initial index value, but not by
more than the buffer amount:
$1,000.00
◾ If the final index value is less than the initial index value by more than the buffer amount:
$1,000.00 + [$1,000.00 × (underlying return + buffer amount)]
If the final index value is less than the initial index value by more than the buffer amount, you will lose 1%
for every 1% that the final index value falls below the initial index value in excess of the buffer amount and could lose up to 90% of your investment in the Buffered PLUS.
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Buffer amount:
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10%
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Underlying return:
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(final index value – initial index value) / initial index value
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Leverage factor:
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200%
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Leveraged upside payment:
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$1,000.00 × leverage factor × underlying return
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Maximum gain:
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21.05%
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Maximum payment at
maturity:
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$1,210.50 per Buffered PLUS (121.05% 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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06418RCB7 / US06418RCB78
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Listing:
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The Buffered PLUS 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 $929.09 and $959.09 per Buffered PLUS. 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 Index
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Payment at Maturity
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+40.000%
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$1,210.50
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+30.000%
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$1,210.50
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+20.000%
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$1,210.50
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+10.525%
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$1,210.50
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+9.000%
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$1,180.00
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+6.000%
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$1,120.00
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+3.000%
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$1,060.00
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0.000%
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$1,000.00
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-5.000%
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$1,000.00
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-10.000%
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$1,000.00
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-20.000%
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$900.00
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-30.000%
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$800.00
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-40.000%
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$700.00
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-50.000%
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$600.00
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-60.000%
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$500.00
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-70.000%
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$400.00
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-80.000%
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$300.00
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-90.000%
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$200.00
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-100.000%
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$100.00
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You may lose up to 90% of your investment in the Buffered PLUS.
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The stated payout from the issuer applies only at maturity.
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Your potential return on the Buffered PLUS 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 Buffered PLUS is not linked to the value of the underlying index at any time other than the valuation date.
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Owning the Buffered PLUS is not the same as owning the index constituent stocks.
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An investment in the Buffered PLUS involves market risk associated with the underlying index.
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There can be no assurance that the investment view implicit in the Buffered PLUS 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 Buffered PLUS.
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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 Buffered PLUS at the time of pricing (when the terms of your Buffered PLUS are set on the pricing date) will be lower than the issue price of the Buffered PLUS.
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Neither BNS’ nor SCUSA’s estimated value of the Buffered PLUS 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 Buffered PLUS does not represent future values of the Buffered PLUS and may differ from others’ (including SCUSA’s) estimates.
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The Buffered PLUS have limited liquidity.
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The price at which SCUSA would buy or sell your Buffered PLUS (if SCUSA makes a market, which it is not obligated to do) will be based on SCUSA’s estimated value of your Buffered PLUS. SCUSA’s estimated value
of the Buffered PLUS is determined by reference to its pricing models and takes into account BNS’ internal funding rate.
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The price of the Buffered PLUS 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 Buffered PLUS are subject to the credit risk of BNS.
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Hedging activities by BNS and SCUSA may negatively impact investors in the Buffered PLUS and cause our respective interests and those of our clients and counterparties to be contrary to those of investors in
the Buffered PLUS.
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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 Buffered PLUS.
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Activities conducted by BNS and its affiliates may impact the value of the underlying index and the value of the Buffered PLUS.
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The calculation agent will have significant discretion with respect to the Buffered PLUS, 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 Buffered PLUS.
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Uncertain tax treatment. Significant aspects of the tax treatment of the Buffered PLUS are uncertain. You should consult your tax advisor about your tax situation. See “Additional Information About the
Buffered PLUS — Tax Considerations” and “— Material Canadian Income Tax Consequences” in the preliminary pricing supplement.
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