Investor Solutions

BNS Callable Saskatchewan Focused Notes, Series 1

ISSUE SUMMARY
Product Type: Principal Protected Note
Fund Code: SSP113
Issuer: The Bank of Nova Scotia
Issue Date: 08/24/2007
Maturity Date: 08/24/2012 – 5.0 yr term
Principal Payment: 100% Principal repayment if held to maturity
Variable Return & Call Feature: Variable Return, if any, linked to the price performance of a Saskatchewan Focused Basket (See Variable Return Calculation for more details)

Callable in 2 yrs at 8% annual compound rate of return

Basket: As at January 13, 2012 the performance of the BNS Callable Saskatchewan Focused Notes, Series 1 on a NAV basis is -2.33% since inception. Performance of the Assets underlying the Note has been mixed, with the basket returning -12.64% on average. The Canadian yield curve is consistently lower throughout all maturities making the zero coupon component more valuable and contributing to the improvement in NAV for the Notes since December 2010.
  • Cameco
  • Gasoline
  • Natural Gas
  • Potash Corporation of Saskatchewan
  • S&P GSCI® Agriculture Index Excess Return
  • S&P GSCI™ Livestock Index Excess Return

ISSUE DOCUMENTS
Information Statement: English |
Client Summary / Information Statement: English |
CURRENT ISSUE STATUS
Current Bid Price: $100.00
Term Remaining: 0.0 Years
Annualized Return: 0.00%
Adjusted Cost Base if held since Inception: $100.00
Current ETC: Nil
ETC End Date: 05/24/2009
Indicative Variable Rate of Return at Maturity: $0.00
Historical Bid Prices: view

VARIABLE RETURN

Subject to the Bank’s right to exercise the Bank Call Right , the Notes will not bear any interest during the term of the Notes, but will have a Variable Return, if any, per Note at maturity calculated as follows:

Variable Return = Principal Amount × Basket Return

The Basket Return will equal the sum of the Weighted Asset Returns (which can be positive or negative) of the Assets in the Basket. No Variable Return will be paid unless the Basket Return is greater than zero.

The Weighted Asset Return of any particular Asset in the Basket is the percentage increase or decrease in the Reference Price of that Asset, measured from the Issue Date to the Calculation Date, multiplied by its Weighting.


Performance Commentary
As at January 13, 2012 the performance of the BNS Callable Saskatchewan Focused Notes, Series 1 on a NAV basis is -2.33% since inception. Performance of the Assets underlying the Note has been mixed, with the basket returning -12.64% on average. The Canadian yield curve is consistently lower throughout all maturities making the zero coupon component more valuable and contributing to the improvement in NAV for the Notes since December 2010.

Basket Performance
Asset Weight Initial Price
08/24/2007
Current Price
08/23/2019
Price Performance Lock-In Date
Cameco 10.00% $41.76 $22.46 -46.22% 08/24/2012
Gasoline 20.00% $198.14 $307.80 55.34% 08/24/2012
Natural Gas 20.00% $5.52 $2.70 -51.09% 08/24/2012
Potash Corporation of Saskatchewan 10.00% $30.66 $41.18 34.31% 08/24/2012
S&P GSCI® Agriculture Index Excess Return 20.00% $68.55 $82.25 19.99% 08/24/2012
S&P GSCI™ Livestock Index Excess Return 20.00% $385.38 $200.35 -48.01% 08/24/2012



Note: An investment in principal protected notes may not be suitable for all investors. Important information about these investments is contained in the Information Statement of each note. Investors should obtain and carefully read a copy prior to investing, paying particular attention to the associated risks. Past performance is not indicative of future returns. Commissions, trailing commissions, management fees and expenses all may be associated with these investments. Principal is guaranteed at maturity only for products purchased at their issue price and held to maturity. The investment return on the notes, if any, is uncertain in that an investor may not receive more than return of the principal amount at maturity. A person should reach a decision to invest in the notes only after carefully considering with his or her advisor, the suitability of this investment in light of his or her investment objectives and the information set out in the respective Information Statement.

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