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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 Tesla, Inc. (Bloomberg Ticker: “TSLA UW”)
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Stated principal amount:
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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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Pricing date:
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July 19, 2024
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Original issue date:
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July 24, 2024 (3 business days after the pricing date; see preliminary pricing supplement).
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Final determination
date:
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July 19, 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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July 22, 2027, subject to postponement for certain market disruption events and as described in the accompanying product supplement.
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Early redemption:
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If the closing price of the underlying stock on any determination date other than the final determination date is greater than or equal
to the call threshold price, the securities will be automatically redeemed for an amount per security equal to the early redemption payment on the first contingent coupon payment date immediately following the related
determination date. No further payments will be made on the securities once they have been redeemed.
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Early redemption
payment:
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The early redemption payment will be an amount equal to (i) the stated principal amount plus (ii) the contingent quarterly
coupon with respect to the applicable determination date and any previously unpaid contingent quarterly coupons with respect to any previous determination dates pursuant to the memory coupon feature.
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Contingent quarterly
coupon:
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If the closing price on any determination date is greater than or equal to the downside threshold price, we
will pay on the related contingent coupon payment date a contingent quarterly coupon of $38.875 (equivalent to 15.55% per annum of the stated principal amount) per security, plus any previously unpaid contingent quarterly coupons with
respect to any previous determination dates pursuant to the memory coupon feature.
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If the closing price on any determination date is less than the downside threshold price, we will not pay a contingent quarterly
coupon on the related contingent coupon payment date.
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Memory coupon feature:
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If a contingent quarterly coupon is not paid on a contingent coupon payment date (other than the maturity date) because the closing price of the underlying stock on the
related determination date is less than the downside threshold price, such contingent quarterly coupon will be paid on a later contingent coupon payment date if the closing price of the underlying
stock on the determination date corresponding to such later contingent coupon payment date is greater than or equal to the downside threshold price. For the avoidance of doubt, once a previously
unpaid contingent quarterly coupon has been paid on a later contingent coupon payment date, it will not be made again on any subsequent contingent coupon payment date.
If the closing price of the underlying stock on each of the determination dates is less than the downside threshold price, you will receive no
contingent quarterly coupons during the term of, and will not receive a positive return on, the securities.
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Determination dates:
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Quarterly (as set forth on the cover of the preliminary pricing supplement), subject to postponement for non-trading days and certain market disruption events as
described in the accompanying product supplement
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Contingent coupon
payment dates:
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Quarterly (as set forth on the cover of the preliminary pricing supplement), subject to postponement for non-business days and certain market disruption events as
described in the accompanying product supplement
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Payment at maturity:
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If the final share price is greater than or equal to the downside threshold price: (i) the stated principal amount plus (ii) the contingent quarterly coupon with respect to the final determination date and any previously unpaid contingent quarterly coupons with respect to any previous determination dates pursuant
to the memory coupon feature
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If the final share price is less than the downside threshold price: (i) the stated principal amount multiplied by (ii) the share performance factor
If the final share price is less than the downside threshold price, the payment at maturity will be less than 50% of the stated
principal amount and could be as low as zero.
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Share performance
factor:
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Final share price divided by the initial share price
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Call threshold price:
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100% 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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Downside threshold
price:
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50% 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 final determination 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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06417Y4Y2 / US06417Y4Y23
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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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$22.50 per stated principal amount
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Estimated value on the pricing date:
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Expected to be between $936.58 and $966.58 per security. See “Risk Factors” in the preliminary pricing supplement.
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Preliminary pricing
supplement:
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