Bond ScotiaBank 0% ( US06417Q7676 ) in USD

Issuer ScotiaBank
Market price refresh price now   100 %  ▲ 
Country  Canada
ISIN code  US06417Q7676 ( in USD )
Interest rate 0%
Maturity 31/10/2025



Prospectus brochure of the bond Bank of Nova Scotia US06417Q7676 en USD 0%, maturity 31/10/2025


Minimal amount 1 000 USD
Total amount 30 634 000 USD
Cusip 06417Q767
Standard & Poor's ( S&P ) rating N/A
Moody's rating N/A
Detailed description The Bank of Nova Scotia, also known as Scotiabank, is a multinational banking and financial services corporation headquartered in Toronto, Canada, with a significant international presence focusing on the Americas and select Asian markets.

The Bond issued by ScotiaBank ( Canada ) , in USD, with the ISIN code US06417Q7676, pays a coupon of 0% per year.
The coupons are paid 2 times per year and the Bond maturity is 31/10/2025







424B2 1 bn54194365-424b2.htm (30561) FINAL PRICING SUPPLEMENT - BNS SPX AUTOCALLABLE 6Y STEPUP OCTOBER
2019
File d Pursua nt t o Rule 4 2 4 (b)(2 )
Re gist ra t ion St a t e m e nt N o. 3 3 3 -
2 2 8 6 1 4
(T o Prospe c t us da t e d De c e m be r 2 6 ,
2 0 1 8 ,
Prospe c t us Supple m e nt da t e d
De c e m be r 2 6 , 2 0 1 8 a nd
Produc t Prospe c t us Supple m e nt
EQU I T Y
SU N -1 da t e d Fe brua ry 2 1 , 2 0 1 9 )

3,063,436 Units
Pricing Date
October 10, 2019
$10 principal amount per unit
Settlement Date
October 18, 2019
CUSIP No. 06417Q767
Maturity Date
October 31, 2025






Aut oc a lla ble M a rk e t -Link e d St e p U p N ot e s Link e d t o t he
S& P 5 0 0 ® I nde x
? Maturity of approximately six years, if not called prior to maturity
? Automatic call of the notes per unit at $10 plus the applicable Call Premium ($0.654 on the first Observation Date, $1.308 on
the second Observation Date, $1.962 on the third Observation Date, $2.616 on the fourth Observation Date and $3.270 on
the final Observation Date) if the Index is flat or increases above 100.00% of the Starting Value on the relevant Observation
Date
? The Observation Dates will occur approximately one year, two years, three years, four years and five years after the pricing
date
? If the notes are not called, at maturity:
? a return of 30.00% if the Index is flat or increases up to the Step Up Value
? a return equal to the percentage increase in the Index if the Index increases above the Step Up Value
? 1-to-1 downside exposure to decreases in the Index beyond a 15.00% decline, with up to 85.00% of your principal at risk
? All payments are subject to the credit risk of The Bank of Nova Scotia
? No periodic interest payments
? In addition to the underwriting discount set forth below, the notes include a hedging-related charge of $0.075 per unit. See
"Structuring the Notes"
? Limited secondary market liquidity, with no exchange listing
? The notes are unsecured debt securities and are not savings accounts or insured deposits of a bank. The notes are not
insured or guaranteed by the Canada Deposit Insurance Corporation (the "CDIC"), the U.S. Federal Deposit Insurance
Corporation (the "FDIC"), or any other governmental agency of Canada, the United States or any other jurisdiction

T he not e s a re be ing issue d by T he Ba nk of N ova Sc ot ia ("BN S"). T he re a re im port a nt diffe re nc e s be t w e e n
t he not e s a nd a c onve nt iona l de bt se c urit y, inc luding diffe re nt inve st m e nt risk s a nd c e rt a in a ddit iona l
c ost s. Se e "Risk Fa c t ors" be ginning on pa ge T S-8 of t his t e rm she e t a nd be ginning on pa ge PS-7 of produc t
prospe c t us supple m e nt EQU I T Y SU N -1 .
T he init ia l e st im a t e d va lue of t he not e s a s of t he pric ing da t e is $ 9 .6 1 pe r unit , w hic h is le ss t ha n t he public
offe ring pric e list e d be low . See "Summary" on the following page, "Risk Factors" beginning on page TS-8 of this term sheet
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and "Structuring the Notes" on page TS-17 of this term sheet for additional information. The actual value of your notes at any time
will reflect many factors and cannot be predicted with accuracy.

None of the U.S. Securities and Exchange Commission (the "SEC"), any state securities commission, or any other regulatory body
has approved or disapproved of these securities or determined if this Note Prospectus (as defined below) is truthful or complete.
Any representation to the contrary is a criminal offense.


Per Unit
Total
Public offering price
$ 10.00
$30,634,360.00

Underwriting discount
$ 0.20
$612,687.20

Proceeds, before expenses, to
$ 9.80
$30,021,672.80
BNS

T he not e s:
Are N ot FDI C I nsure d
Are N ot Ba nk
M a y Lose V a lue
Gua ra nt e e d

BofA M e rrill Lync h
October 10, 2019

Autocallable Market-Linked Step Up Notes

Linked to the S&P 500® Index, due October 31, 2025
Summary
The Autocallable Market-Linked Step Up Notes Linked to the S&P 500® Index, due October 31, 2025 (the "notes") are our senior
unsecured debt securities. The notes are not guaranteed or insured by the CDIC or the FDIC, and are not, either directly or
indirectly, an obligation of any third party. The notes are not bail-inable debt securities (as defined in the prospectus). T he not e s
w ill ra nk e qua lly w it h a ll of our ot he r unse c ure d se nior de bt . Any pa ym e nt s due on t he not e s, inc luding a ny
re pa ym e nt of princ ipa l, w ill be subje c t t o t he c re dit risk of BN S. The notes will be automatically called at the
applicable Call Amount if the Observation Level of the Market Measure, which is the S&P 500® Index (the "Index"), is equal to or
greater than the Call Level on the relevant Observation Date. If the notes are not called, at maturity, the notes provide you with a
Step Up Payment if the Ending Value of the Index is equal to or greater than the Starting Value, but is not greater than the Step
Up Value. If the Ending Value is greater than the Step Up Value, you will participate on a 1-for-1 basis in the increase in the level
of the Index above the Starting Value. If the Ending Value is less than the Starting Value but greater than or equal to the
Threshold Value, you will receive the principal amount of your notes. If the Ending Value is less than the Threshold Value, you will
lose a portion, which could be significant, of the principal amount of your notes. Any payments on the notes will be calculated
based on the $10 principal amount per unit and will depend on the performance of the Index, subject to our credit risk. See "Terms
of the Notes" below.
The economic terms of the notes (including the Call Premiums and Call Amounts) are based on our internal funding rate, which is
the rate we would pay to borrow funds through the issuance of market-linked notes, and the economic terms of certain related
hedging arrangements. Our internal funding rate is typically lower than the rate we would pay when we issue conventional fixed
rate debt securities. This difference in funding rate, as well as the underwriting discount and the hedging related charge described
below, reduced the economic terms of the notes to you and the initial estimated value of the notes on the pricing date. Due to
these factors, the public offering price you pay to purchase the notes is greater than the initial estimated value of the notes.
On the cover page of this term sheet, we have provided the initial estimated value for the notes. This estimated value was
determined by reference to our internal pricing models, which take into consideration certain factors, such as our internal funding
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rate on the pricing date and our assumptions about market parameters. For more information about the initial estimated value and
the structuring of the notes, see "Structuring the Notes" on page TS-17.
Terms of the Notes

I ssue r:
The Bank of Nova Scotia ("BNS")
Ca ll
Approximately the fifth business day following

Se t t le m e nt
the applicable Observation Date, subject to
Da t e s:
postponement if the related Observation Date
is postponed, as described on page PS-26 of
product prospectus supplement EQUITY SUN-
1.
Princ ipa l
$10.00 per unit
Ca ll
$0.654 per unit if called on the first
Am ount :
Pre m ium s:
Observation Date (which represents a return
of 6.54% over the principal amount), $1.308
per unit if called on the second Observation
Date (which represents a return of 13.08%
over the principal amount), $1.962 per unit if
called on the third Observation Date (which
represents a return of 19.62% over the
principal amount), $2.616 per unit if called on
the fourth Observation Date (which represents
a return of 26.16% over the principal amount),
and $3.270 per unit if called on the final
Observation Date (which represents a return
of 32.70% over the principal amount).
T e rm :
Approximately six years, if not called
Ending V a lue :
The closing level of the Market Measure on

the calculation day. The scheduled calculation
day is subject to postponement in the event of
Market Disruption Events, as described
beginning on page PS-28 of product
prospectus supplement EQUITY SUN-1.
M a rk e t M e a sure : The S&P 500® Index (Bloomberg
St e p U p V a lue : 3,819.57 (130.00% of the Starting Value,

symbol: "SPX"), a price return index
rounded to two decimal places).
St a rt ing V a lue :
2,938.13
St e p U p
$3.00 per unit, which represents a return of

Pa ym e nt :
30.00% over the principal amount.
Obse rva t ion
The closing level of the Market Measure T hre shold
2,497.41 (85.00% of the Starting Value,
Le ve l:
on the applicable Observation Date
V a lue :
rounded to two decimal places).

Obse rva t ion
October 23, 2020, October 22, 2021,
Ca lc ula t ion
October 24, 2025
Da t e s:
October 21, 2022, October 20, 2023 and Da y:
October 18, 2024. The Observation
Dates are subject to postponement in
the event of Market Disruption Events,
as described beginning on page PS-28
of product prospectus supplement
EQUITY SUN-1.
Ca ll Le ve l:
2,938.13 (100.00% of the Starting
Fe e s a nd
The underwriting discount of $0.20 per unit
Value).
Cha rge s:
listed on the cover page and the hedging
related charge of $0.075 per unit described in
"Structuring the Notes" on
Autocallable Market-Linked Step Up Notes
TS-2
Autocallable Market-Linked Step Up Notes

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Linked to the S&P 500® Index, due October 31, 2025
page TS-17.
Ca ll Am ount s
$10.654 if called on the first Observation Ca lc ula t ion
BofA Securities, Inc. ("BofAS").
(pe r U nit ):
Date, $11.308 if called on the second
Age nt :
Observation Date, $11.962 if called on
the third Observation Date, $12.616 if
called on the fourth Observation Date
and $13.270 if called on the final
Observation Date.

Autocallable Market-Linked Step Up Notes
TS-3
Autocallable Market-Linked Step Up Notes

Linked to the S&P 500® Index, due October 31, 2025
Determining Payment on the Notes
Aut om a t ic Ca ll Provision
The notes will be called automatically on an Observation Date if the Observation Level on that Observation Date is equal to or
greater than the Call Level. If the notes are called, you will receive $10 per unit plus the applicable Call Premium.
Re de m pt ion Am ount De t e rm ina t ion
If the notes are not automatically called, on the maturity date, you will receive a cash payment per unit determined as follows:
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Autocallable Market-Linked Step Up Notes
TS-4
Autocallable Market-Linked Step Up Notes

Linked to the S&P 500® Index, due October 31, 2025
The terms and risks of the notes are contained in this term sheet and in the following:
?
Product prospectus supplement EQUITY SUN-1 dated February 21, 2019:
https://www.sec.gov/Archives/edgar/data/9631/000091412119000426/bn50676784-424b2.htm
?
Prospectus supplement dated December 26, 2018:
https://www.sec.gov/Archives/edgar/data/9631/000091412118002473/bn50676984-424b3.htm

?
Prospectus dated December 26, 2018:
https://www.sec.gov/Archives/edgar/data/9631/000119312518357537/d677731d424b3.htm
As a result of the completion of the reorganization of Bank of America's U.S. broker-dealer business, references to Merrill Lynch,
Pierce, Fenner & Smith Incorporated ("MLPF&S") in the accompanying product prospectus supplement EQUITY SUN-1, as such
references relate to MLPF&S's institutional services, should be read as references to BofAS.
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These documents (together, the "Note Prospectus") have been filed as part of a registration statement with the SEC, which may,
without cost, be accessed on the SEC website as indicated above or obtained from MLPF&S or BofAS by calling 1-800-294-1322.
Before you invest, you should read the Note Prospectus, including this term sheet, for information about us and this offering. Any
prior or contemporaneous oral statements and any other written materials you may have received are superseded by the Note
Prospectus. Capitalized terms used but not defined in this term sheet have the meanings set forth in product prospectus
supplement EQUITY SUN-1. Unless otherwise indicated or unless the context requires otherwise, all references in this document to
"we," "us," "our," or similar references are to BNS.
Investor Considerations
Y ou m a y w ish t o c onside r a n inve st m e nt in t he
T he not e s m a y not be a n a ppropria t e inve st m e nt for
not e s if:
you if:
? You are willing to receive a return on your investment
? You want to hold your notes for the full term.
capped at the applicable Call Premium if the relevant
? You believe that the notes will not be automatically called
Observation Level is equal to or greater than the Call Level.
and the Index will decrease from the Starting Value to the
? You anticipate that the notes will be automatically called or
Ending Value.
that the Index will not decrease from the Starting Value to
? You seek principal repayment or preservation of capital.
an Ending Value that is less than the Threshold Value.
? You seek interest payments or other current income on your
? You are willing to risk a substantial loss of principal and
investment.
return if the notes are not automatically called and the Index
decreases from the Starting Value to an Ending Value that
? You want to receive dividends or other distributions paid on
is less than the Threshold Value.
the stocks included in the Index.
? You are willing to forgo the interest payments that are paid
? You seek an investment for which there will be a liquid
on conventional interest bearing debt securities.
secondary market.
? You are willing to forgo dividends or other benefits of owning
? You are unwilling or are unable to take market risk on the
the stocks included in the Index.
notes or to take our credit risk as issuer of the notes.
? You are willing to accept a limited or no market for sales
prior to maturity, and understand that the market prices for
the notes, if any, will be affected by various factors,
including our actual and perceived creditworthiness, our
internal funding rate and fees and charges on the notes.
? You are willing to assume our credit risk, as issuer of the
notes, for all payments under the notes, including the
Redemption Amount.
We urge you to consult your investment, legal, tax, accounting, and other advisors before you invest in the notes.
Autocallable Market-Linked Step Up Notes
TS-5
Autocallable Market-Linked Step Up Notes

Linked to the S&P 500® Index, due October 31, 2025
Hypothetical Payout Profile and Examples of Payments at
Maturity
T he gra ph be low show s a pa yout profile a t m a t urit y, w hic h w ould only a pply if t he not e s a re not c a lle d on
a ny Obse rva t ion Da t e .
Aut oc a lla ble M a rk e t -Link e d St e p U p N ot e s
This graph reflects the returns on the notes, based on the
Threshold Value of 85.00% of the Starting Value, the Step Up
Payment of $3.00 per unit and the Step Up Value of 130.00% of
the Starting Value. The green line reflects the returns on the
notes, while the dotted gray line reflects the returns of a direct
investment in the stocks included in the Index, excluding
dividends.
This graph has been prepared for purposes of illustration only.
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The following table and examples are for purposes of illustration only. They are based on hypot he t ic a l values and show
hypot he t ic a l returns on the notes, assuming the notes are not called on any Observation Date. They illustrate the calculation of
the Redemption Amount and total rate of return based on a hypothetical Starting Value of 100, a hypothetical Threshold Value of
85, a hypothetical Step Up Value of 130, the Step Up Payment of $3.00 per unit and a range of hypothetical Ending Values. T he
a c t ua l a m ount you re c e ive a nd t he re sult ing t ot a l ra t e of re t urn w ill de pe nd on t he a c t ua l St a rt ing V a lue ,
T hre shold V a lue , Ending V a lue , St e p U p V a lue , w he t he r t he not e s a re c a lle d on a n Obse rva t ion Da t e , a nd
w he t he r you hold t he not e s t o m a t urit y. The following examples do not take into account any tax consequences from
investing in the notes.
For recent actual levels of the Market Measure, see "The Index" section below. The Index is a price return index and as such the
Ending Value will not include any income generated by dividends paid on the stocks included in the Index, which you would
otherwise be entitled to receive if you invested in those stocks directly. In addition, all payments on the notes are subject to issuer
credit risk.
Pe rc e nt a ge Cha nge from
t he St a rt ing V a lue t o t he
Re de m pt ion Am ount pe r
T ot a l Ra t e of Re t urn on
Ending V a lue

Ending V a lue

U nit

t he N ot e s
0.00

-100.00%

$1.50

-85.00%
50.00

-50.00%

$6.50

-35.00%
75.00

-25.00%

$9.00

-10.00%
80.00

-20.00%

$9.50

-5.00%
85.00(1)

-15.00%

$10.00

0.00%
90.00

-10.00%

$10.00

0.00%
94.00

-6.00%

$10.00

0.00%
95.00

-5.00%

$10.00

0.00%
97.00

-3.00%

$10.00

0.00%
100.00(2)

0.00%

$13.00(3)

30.00%
105.00

5.00%

$13.00

30.00%
110.00

10.00%

$13.00

30.00%
120.00

20.00%

$13.00

30.00%
130.00(4)

30.00%

$13.00

30.00%
135.00

35.00%

$13.50

35.00%
140.00

40.00%

$14.00

40.00%
150.00

50.00%

$15.00

50.00%
154.00

54.00%

$15.40

54.00%
160.00

60.00%

$16.00

60.00%
(1)
This is the hypot he t ic a l Threshold Value.
(2)
The hypothetical Starting Value of 100 used in these examples has been chosen for illustrative purposes only. The actual
https://www.sec.gov/Archives/edgar/data/9631/000091412119002714/bn54194365-424b2.htm[10/15/2019 10:49:08 AM]


Starting Value is 2,938.13, which was the closing level of the Market Measure on the pricing date.
(3)
This amount represents the sum of the principal amount and the Step Up Payment of $3.00.
(4)
This is the hypot he t ic a l Step Up Value.
Autocallable Market-Linked Step Up Notes
TS-6
Autocallable Market-Linked Step Up Notes

Linked to the S&P 500® Index, due October 31, 2025
Re de m pt ion Am ount Ca lc ula t ion Ex a m ple s
Ex a m ple 1
The Ending Value is 75.00, or 75.00% of the Starting Value:
Starting Value:
100.00
Threshold Value:
85.00
Ending Value:
75.00
Redemption Amount per unit
Ex a m ple 2
The Ending Value is 95.00, or 95.00% of the Starting Value:
Starting Value:
100.00
Threshold Value:
85.00
Ending Value:
95.00
Redemption Amount per unit = $ 1 0 .0 0 , the principal amount, since the Ending Value is less than the Starting Value, but is equal
to or greater than the Threshold Value.

Ex a m ple 3
The Ending Value is 110.00, or 110.00% of the Starting Value:
Starting Value:
100.00
Step Up Value:
130.00
Ending Value:
110.00
Redemption Amount per unit, the principal amount plus the Step Up Payment, since
the Ending Value is equal to or greater than the Starting Value, but less than the Step
Up Value.

Ex a m ple 4
The Ending Value is 154.00, or 154.00% of the Starting Value:
Starting Value:
100.00
Step Up Value:
130.00
Ending Value:
154.00
Redemption Amount per unit
Autocallable Market-Linked Step Up Notes
TS-7
Autocallable Market-Linked Step Up Notes

Linked to the S&P 500® Index, due October 31, 2025
Risk Factors
There are important differences between the notes and a conventional debt security. An investment in the notes involves significant
risks, including those listed below. You should carefully review the more detailed explanation of risks relating to the notes in the
"Risk Factors" sections beginning on page PS-7 of product prospectus supplement EQUITY SUN-1, page S-2 of the prospectus
supplement, and page 5 of the prospectus identified above. We also urge you to consult your investment, legal, tax, accounting,
and other advisors before you invest in the notes.

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?
If the notes are not automatically called, depending on the performance of the Index as measured shortly before the
maturity date, your investment may result in a loss; there is no guaranteed return of principal.

?
Your return on the notes may be less than the yield you could earn by owning a conventional fixed or floating rate debt
security of comparable maturity.

?
If the notes are called, your investment return is limited to the return represented by the applicable Call Premium.

?
Your investment return may be less than a comparable investment directly in the stocks included in the Index.

?
Payments on the notes are subject to our credit risk, and actual or perceived changes in our creditworthiness are expected
to affect the value of the notes. If we become insolvent or are unable to pay our obligations, you may lose your entire
investment.

?
Our initial estimated value of the notes is lower than the public offering price of the notes. Our initial estimated value of the
notes is only an estimate. The public offering price of the notes exceeds our initial estimated value because it includes
costs associated with selling and structuring the notes, as well as hedging our obligations under the notes with a third
party, which may include BofAS or one of its affiliates. These costs include the underwriting discount and an expected
hedging related charge, as further described in "Structuring the Notes" on page TS-17.

?
Our initial estimated value of the notes does not represent future values of the notes and may differ from others' estimates.
Our initial estimated value of the notes is determined by reference to our internal pricing models when the terms of the
notes are set. These pricing models consider certain factors, such as our internal funding rate on the pricing date, the
expected term of the notes, market conditions and other relevant factors existing at that time, and our assumptions about
market parameters, which can include volatility, dividend rates, interest rates and other factors. Different pricing models
and assumptions could provide valuations for the notes that are different from our initial estimated value. In addition, market
conditions and other relevant factors in the future may change, and any of our assumptions may prove to be incorrect. On
future dates, the market value of the notes could change significantly based on, among other things, the performance of
the Index, changes in market conditions, our creditworthiness, interest rate movements and other relevant factors. These
factors, together with various credit, market and economic factors over the term of the notes, are expected to reduce the
price at which you may be able to sell the notes in any secondary market and will affect the value of the notes in complex
and unpredictable ways. Our initial estimated value does not represent a minimum price at which we or any agents would
be willing to buy your notes in any secondary market (if any exists) at any time.

?
Our initial estimated value is not determined by reference to credit spreads or the borrowing rate we would pay for our
conventional fixed-rate debt securities. The internal funding rate used in the determination of our initial estimated value of
the notes generally represents a discount from the credit spreads for our conventional fixed-rate debt securities and the
borrowing rate we would pay for our conventional fixed-rate debt securities. If we were to use the interest rate implied by
the credit spreads for our conventional fixed-rate debt securities, or the borrowing rate we would pay for our conventional
fixed-rate debt securities, we would expect the economic terms of the notes to be more favorable to you. Consequently, our
use of an internal funding rate for the notes would have an adverse effect on the economic terms of the notes, the initial
estimated value of the notes on the pricing date, and the price at which you may be able to sell the notes in any secondary
market.

?
A trading market is not expected to develop for the notes. None of us, MLPF&S or BofAS is obligated to make a market
for, or to repurchase, the notes. There is no assurance that any party will be willing to purchase your notes at any price in
any secondary market.

?
Our business, hedging and trading activities, and those of MLPF&S, BofAS and our respective affiliates (including trades in
shares of companies included in the Index), and any hedging and trading activities we, MLPF&S, BofAS or our respective
affiliates engage in for our clients' accounts, may affect the market value and return of the notes and may create conflicts of
interest with you.

?
The Index sponsor may adjust the Index in a way that may adversely affect its level and your interests, and the Index
sponsor has no obligation to consider your interests.

?
You will have no rights of a holder of the securities included in the Index, and you will not be entitled to receive securities
or dividends or other distributions by the issuers of those securities.
?
While we, MLPF&S, BofAS or our respective affiliates may from time to time own securities of companies included in the
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Index, except to the extent that the common stock of Bank of America Corporation (the parent company of MLPF&S and
BofAS) is included in the Index, we, MLPF&S, BofAS and our respective affiliates do not control any company included in
the Index, and have not verified any disclosure made by any other company.
Autocallable Market-Linked Step Up Notes
TS-8
Autocallable Market-Linked Step Up Notes

Linked to the S&P 500® Index, due October 31, 2025

?
There may be potential conflicts of interest involving the calculation agent, which is BofAS. We have the right to appoint
and remove the calculation agent.
?
The U.S. federal income tax consequences of the notes are uncertain, and may be adverse to a holder of the notes. See
"Summary of U.S. Federal Income Tax Consequences" below.

?
The conclusion that no portion of the interest paid or credited or deemed to be paid or credited on a note will be
"Participating Debt Interest" subject to Canadian withholding tax is based in part on the current published administrative
position of the CRA. There cannot be any assurance that CRA's current published administrative practice will not be
subject to change, including potential expansion in the current administrative interpretation of Participating Debt Interest
subject to Canadian withholding tax. If, at any time, the interest paid or credited or deemed to be paid or credited on a
note is subject to Canadian withholding tax, you will receive an amount that is less than the Redemption Amount. You
should consult your own adviser as to the potential for such withholding and the potential for reduction or refund of part or
all of such withholding, including under any bilateral Canadian tax treaty the benefits of which you may be entitled. For a
discussion of the Canadian federal income tax consequences of investing in the notes, see "Summary of Canadian Federal
Income Tax Consequences" below, "Canadian Taxation--Debt Securities" on page 62 of the prospectus dated December
26, 2018, and "Supplemental Discussion of Canadian Federal Income Tax Consequences" on page PS-41 of product
prospectus supplement EQUITY SUN-1.
Autocallable Market-Linked Step Up Notes
TS-9
Autocallable Market-Linked Step Up Notes

Linked to the S&P 500® Index, due October 31, 2025
The Index
All disclosures contained in this term sheet regarding the Index, including, without limitation, its make up, method of calculation, and
changes in its components, have been derived from publicly available sources. The information reflects the policies of, and is
subject to change by, S&P Dow Jones Indices LLC (the "Index sponsor"). The Index sponsor, which licenses the copyright and all
other rights to the Index, has no obligation to continue to publish, and may discontinue publication of, the Index. The consequences
of the Index sponsor discontinuing publication of the Index are discussed in the section entitled "Description of the Notes--
Discontinuance of an Index" beginning on page PS-30 of product prospectus supplement EQUITY SUN-1. None of us, the
calculation agent, MLPF&S or BofAS accepts any responsibility for the calculation, maintenance or publication of the Index or any
successor index.
Ge ne ra l
The Index includes a representative sample of 500 leading companies in leading industries of the U.S. economy. The Index is
designed to provide a performance benchmark for the U.S. equity markets. The Index is calculated based on the relative value of
the aggregate Market Value (as defined below) of the common stocks of 500 companies as of a particular time as compared to the
aggregate average Market Value of the common stocks of 500 similar companies during the base period of the years 1941 through
1943. The "Market Value" of any index stock is the product of the market price per share times the number of the then outstanding
shares of such index stock. The 500 companies are not the 500 largest companies listed on the NYSE and not all 500 companies
are listed on such exchange. The Index sponsor chooses companies for inclusion in the Index with an aim of achieving a
distribution by broad industry groupings that approximates the distribution of these groupings in the common stock population of the
U.S. equity market.
As of September 30, 2019, the 500 companies included in the Index were divided into eleven Global Industry Classification
Sectors. The Global Industry Classification Sectors include (with the approximate percentage currently included in such sectors
indicated in parentheses): Information Technology (21.9%); Health Care (13.7%); Financials (12.9%); Communication Services
https://www.sec.gov/Archives/edgar/data/9631/000091412119002714/bn54194365-424b2.htm[10/15/2019 10:49:08 AM]


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