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Issuer
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The Bank of Nova Scotia (the “Bank”)
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Market Measure
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The common stock of Tesla, Inc. (the “Underlying Stock”) (Bloomberg Ticker: TSLA)
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Pricing Date*
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February 29, 2024.
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Issue Date*
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March 5, 2024.
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Face Amount (Original
Offering Price)
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$1,000 per security
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Contingent Coupon Payment
(with Memory Feature)
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On each contingent coupon payment date, you will receive a contingent coupon payment at a per annum rate equal to the contingent coupon rate if, and
only if, the stock closing price of the Underlying Stock on the related calculation day is greater than or equal to the coupon threshold price. Each contingent coupon payment, if any, will be calculated per security as follows:
($1,000 × contingent coupon rate) / 4. Any contingent coupon payment will be rounded to the nearest cent, with one-half cent rounded upward. In addition, if the stock closing price of the Underlying Stock on one or more calculation days
is less than the coupon threshold price and, on a subsequent calculation day, the stock closing price of the Underlying Stock on that subsequent calculation day is greater than or equal to the coupon threshold price, the securities will
pay the contingent coupon payment due for that subsequent calculation day plus all previously unpaid contingent coupon payments (without interest on amounts previously unpaid).
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Contingent Coupon Rate
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At least 14.59% per annum, to be determined on the pricing date
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Calculation Days*
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Quarterly, on the 24th day of each February, May, August and November, commencing in May 2024 and ending in February 2027, each subject to postponement. We refer to the calculation day
scheduled to occur in February 2027 (expected to be February 24, 2027) as the “final calculation day.”
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Contingent Coupon Payment
Dates
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Three business days after the applicable calculation day (the contingent coupon payment date with respect to the final calculation day will be the stated maturity date), each subject to
postponement
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Automatic Call
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If the stock closing price of the Underlying Stock on any calculation day from May 2024 to November 2026, inclusive, is greater than or equal to the starting price, the securities will
be automatically called, and on the related call settlement date, you will be entitled to receive a cash payment per security in U.S. dollars equal to the face amount plus a final contingent coupon payment, and any previously unpaid
contingent coupon payments. The securities will not be subject to automatic call until the first calculation day, which is approximately three months after the issue date.
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Call Settlement Date
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Three business days after the applicable calculation day, subject to postponement
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Maturity Payment Amount
(per Security)
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If the securities are not automatically called prior to the stated maturity date:
• if
the ending price is greater than or equal to the downside threshold price: $1,000; or
• if
the ending price is less than the downside threshold price:
$1,000 × performance factor
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Performance Factor
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The ending price divided by the starting price (expressed as a percentage)
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Stated Maturity Date*
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March 1, 2027, subject to postponement
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Starting Price
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The stock closing price of the Underlying Stock on the pricing date
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Ending Price
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The stock closing price of the Underlying Stock on the final calculation day
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Coupon Threshold Price
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60.00% of the starting price
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Downside Threshold Price
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60.00% of the starting price
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Calculation Agent
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Scotia Capital Inc., an affiliate of the Bank
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Denominations
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$1,000 and any integral multiple of $1,000
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Agents**
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Scotia Capital (USA) Inc. and Wells Fargo Securities, LLC (“WFS”).
WFS will receive a discount of up to 2.325%; dealers, including Wells Fargo Advisors, LLC (“WFA”), may receive a selling concession of up to 1.75%, and WFA may receive a distribution
expense fee of 0.075%.
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CUSIP / ISIN
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06417YP29 / US06417YP297
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Material Canadian and U.S.
Tax Consequences
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See the preliminary pricing supplement.
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