Investor Solutions

BNS Canadian Banks Callable Contingent $10.29 Coupon Notes, Series 117F

ISSUE SUMMARY
Product Type: Principal at Risk Note
Fund Code: SSP2452
Issuer: The Bank of Nova Scotia
Issue Date: 12/21/2020
Maturity Date: 12/21/2027 – 7.0 yr term
Principal Payment: The original principal amount invested is not protected (See Maturity Redemption Amount Calculation for more details)

Monthly Coupon Payment:Holders of record on the applicable Monthly Coupon Payment Record Date may be entitled to receive from the Bank a Monthly Coupon Payment, determined as follows:

  1. If the Closing Index Level on the relevant Monthly Coupon Payment Valuation Date is greater than the Barrier Level, the Monthly Coupon Payment will be $0.8575 per Note; and

  2. If the Closing Index Level on the relevant Monthly Coupon Payment Valuation Date is less than or equal to the Barrier Level, no Monthly Payment will be made.

    The aggregate Monthly Coupon Payments over the term of the Notes will not exceed $72.03 per Note. If the Notes are called, holders will receive both the Principal Amount and the Monthly Coupon Payment for the applicable Autocall Valuation Date.

    Autocall :The Notes will be automatically called (i.e., redeemed) by the Bank if the Closing Index Level on any Autocall Valuation Date is greater than or equal to the Autocall Level. The Notes cannot be automatically called prior to June 21, 2021. If the Closing Index Level on any Autocall Valuation Date is not greater than or equal to the Autocall Level, the Notes will not be automatically called by the Bank.

    Valuation Dates:The specific Autocall Valuation Dates and the Final Valuation Date for the Notes are set forth in the pricing supplement (see “Valuation Dates, Record Dates and Payment Dates” in the pricing supplement), subject to the Notes being automatically called by the Bank and to the occurrence of any special circumstances (see “Special Circumstances” in the pricing supplement).
Maturity Redemption Amount: Maturity Redemption Amount is linked to the performance of The Solactive Canada Banks 30 AR Index. (See Maturity Redemption Amount Calculation for more details)
Underlying Index: The Index aims to track the gross total return performance of the Solactive Canada Bank TR Index (the “Target Index”), subject to reduction for a synthetic dividend of 30 index points per annum calculated daily in arrears at the time the Index is calculated (the “Adjusted Return Factor”). The Target Index is a free-float market capitalization index of stocks of issuers listed on the Toronto Stock Exchange that have their primary listing in Canada and that are classified as “Major Banks” or “Regional Banks” in accordance with the industry sector classification system used by the Index Sponsor and referenced in the guideline for the Target Index. The Target Index is a gross total return index that reflects the applicable price changes of its constituent securities and any dividends and distributions paid in respect of such securities, without deduction of any withholding tax or other amounts to which an investor holding the constituent securities of the Target Index would typically be exposed. For the calculation of the level of the Target Index, any dividends or other distributions paid on the constituent securities of the Target Index are reinvested across all the constituent securities of the Target Index.
  • Solactive Canada Bank 30 AR Index

ISSUE DOCUMENTS
Base Shelf Prospectus: English | French
Product Supplement: English | French
Pricing Supplement: English | French
Investor Summary: English | French

MATURITY REDEMPTION AMOUNT CALCULATION

Holders of record on the applicable Record Date will be entitled to an amount payable on the Notes if they are automatically called by the Bank or at maturity (in each case, the “Maturity Redemption Amount”) as calculated by the Calculation Agent in accordance with the applicable formula below:


           If the Closing Index Level on an Autocall Valuation Date or the Final Valuation Date is greater than or equal to the Autocall Level, the Maturity Redemption Amount will equal:

Principal Amount

i           If the Final Index Level on the Final Valuation Date is less than the Autocall Level but greater than the Barrier Level, the Maturity Redemption Amount will equal:

Principal Amount

           If the Final Index Level on the Final Valuation Date is equal to or less than the Barrier Level, the Maturity Redemption Amount will equal:

Principal Amount + (Principal Amount x Index Return))

Where:

Autocall Level: 105.00% of the Initial Portfolio Price;

Barrier Level: 70.00% of the Initial Portfolio Price;

The return on the Notes will not reflect the total return that an investor would receive if such investor owned the Reference Shares of the Reference Companies.

The Maturity Redemption Amount will be substantially less than the Principal Amount invested by an investor if the Final Portfolio Price on the Final Valuation Date is equal to or less than the Barrier Price. The Maturity Redemption Amount will be subject to a minimum principal repayment of $1.00 per Note.


Note: An investment in principal at risk notes may not be suitable for all investors. Important information about these investments is contained in the Base Shelf Prospectus, the Product Supplement and the Pricing Supplement for the note (see above for such documents). Investors should obtain and carefully read a copy of these documents 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. None of the Bank, the investment dealers or any of their respective affiliates, or any other person guarantees that investors in the notes will receive an amount equal to their original investment or guarantees that any return will be paid on the notes (subject to a minimum principal repayment of $1.00 per note) at or prior to maturity. Since the notes are not principal protected, it is possible that an investor could lose substantially all of his or her investment in the notes (subject to a minimum principal repayment of $1.00 per note). 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 documentation.

THE CONTENTS OF THIS SITE ARE DIRECTED AT, AND ARE FOR USE BY, RESIDENTS OF CANADA ONLY AND ARE NOT DIRECTED TO OR INTENDED FOR USE BY RESIDENTS OF ANY OTHER COUNTRY OR JURISDICTION. THE CONTENTS OF THIS SITE DO NOT CONSTITUTE AN OFFER TO SELL OR THE SOLICITATION OF AN OFFER TO BUY, DIRECTLY OR INDIRECTLY, ANY OF THE NOTES REFERRED TO HEREIN IN ANY JURISDICTION OUTSIDE OF CANADA. THE CONTENTS OF THIS SITE ARE NOT TO BE DOWNLOADED, DISSEMINATED, USED OR RELIED UPON BY PERSONS RESIDENT IN ANY NON- CANADIAN JURISDICTION. NO SECURITIES COMMISSION OR SIMILAR AUTHORITY IN CANADA OR ANY OTHER JURISDICTION HAS IN ANY WAY PASSED ON THE MERITS OF ANY OF THE NOTES.