Obbligazione ScotiaBank 0% ( US064159MY92 ) in USD

Emittente ScotiaBank
Prezzo di mercato 100 USD  ⇌ 
Paese  Canada
Codice isin  US064159MY92 ( in USD )
Tasso d'interesse 0%
Scadenza 06/01/2021 - Obbligazione è scaduto



Prospetto opuscolo dell'obbligazione Bank of Nova Scotia US064159MY92 in USD 0%, scaduta


Importo minimo 1 000 USD
Importo totale 6 016 000 USD
Cusip 064159MY9
Standard & Poor's ( S&P ) rating N/A
Moody's rating N/A
Descrizione dettagliata La Bank of Nova Scotia, nota anche come Scotiabank, è una delle più grandi banche del Canada, operante a livello internazionale con una forte presenza in America Latina e nel Caraibi.

The Obbligazione issued by ScotiaBank ( Canada ) , in USD, with the ISIN code US064159MY92, pays a coupon of 0% per year.
The coupons are paid 2 times per year and the Obbligazione maturity is 06/01/2021







Submission Documents
424B2 1 bn53155730-424b2.htm PS (BPNIDE05) BNS/GS CAPPED LEVERAGE BUFFERED IDEEL BASKET
File d Pursua nt t o Rule 4 2 4 (b)(2 )
Re gist ra t ion N o. 3 3 3 -2 2 8 6 1 4
T he Ba nk of N ova Sc ot ia
$ 6 ,0 1 6 ,0 0 0 Ca ppe d Buffe re d Enha nc e d Pa rt ic ipa t ion Ba sk e t -Link e d N ot e s Due J a nua ry 6 , 2 0 2 1
T he not e s do not be a r int e re st . The amount that you will be paid on your notes at maturity (January 6, 2021) is based on the performance of a weighted basket comprised
of the EURO STOXX 50® Index (36.00% weighting), TOPIX (27.00% weighting), the FTSE® 100 Index (20.00% weighting), the Swiss Market Index (9.00% weighting) and the
S&P/ASX 200 Index (8.00% weighting) as measured from the trade date (December 27, 2018) to and including the valuation date (January 4, 2021). The initial basket level was
set to 100 on the trade date and the final basket level will equal the sum of the products, as calculated for each basket component, of: (i) the final index level divided by the
initial index level (which is the actual closing level of the basket component on the trade date) multiplied by (ii) the applicable initial weighted value for each basket component. If
the final basket level on the valuation date is greater than the initial basket level, the return on your notes will be positive, subject to the maximum payment amount of $1,349.25
for each $1,000 principal amount of your notes. If the final basket level declines by up to 20.00% from the initial basket level, you will receive the principal amount of your notes.
I f t he fina l ba sk e t le ve l de c line s by m ore t ha n 2 0 .0 0 % from t he init ia l ba sk e t le ve l, t he re t urn on your not e s w ill be ne ga t ive a nd you m a y lose
your e nt ire princ ipa l a m ount . Spe c ific a lly, you w ill lose 1 .2 5 % for e ve ry 1 % ne ga t ive ba sk e t re t urn be low t he buffe r le ve l of 8 0 .0 0 % of t he init ia l
ba sk e t le ve l. Any pa ym e nt on your not e s is subje c t t o t he c re dit w ort hine ss of T he Ba nk of N ova Sc ot ia .
To determine your payment at maturity, we will calculate the basket return, which is the percentage increase or decrease in the final basket level from the initial basket level. At
maturity, for each $1,000 principal amount of your notes:
?
if the final basket level is greater than the initial basket level (the basket return is positive), you will receive an amount in cash equal to the sum of (i) $1,000 plus (ii) the
product of (a) $1,000 times (b) the basket return times (c) 250%, subject to the maximum payment amount;
?
if the final basket level is equal to the initial basket level or less than the initial basket level but not by more than 20.00% (the basket return is zero or negative but equal to
or greater than -20.00%), you will receive an amount in cash equal to $1,000; or
?
if the final basket level is less than the initial basket level by more than 20.00% (the basket return is negative and is less than -20.00%), you will receive an amount in
cash equal to the sum of (i) $1,000 plus (ii) the product of (a) $1,000 times (b) 125.00% times (c) the sum of the basket return plus 20.00%.
De c line s in one ba sk e t inde x m a y offse t inc re a se s in t he ot he r ba sk e t indic e s. Due t o t he une qua l w e ight ing of e a c h ba sk e t c om pone nt , t he
pe rform a nc e s of t he EU RO ST OX X 5 0 ® I nde x , T OPI X a nd t he FT SE® 1 0 0 I nde x w ill ha ve a signific a nt ly la rge r im pa c t on your re t urn on t he not e s
t ha n t he pe rform a nc e of t he Sw iss M a rk e t I nde x or t he S& P/ASX 2 0 0 I nde x . I n a ddit ion, no pa ym e nt s on your not e s w ill be m a de prior t o
m a t urit y.
I nve st m e nt in t he not e s involve s c e rt a in risk s. Y ou should re fe r t o "Addit iona l Risk s" be ginning on pa ge P -1 8 of t his pric ing supple m e nt a nd
"Addit iona l Risk Fa c t ors Spe c ific t o t he N ot e s" be ginning on pa ge PS-6 of t he a c c om pa nying produc t prospe c t us supple m e nt a nd "Risk Fa c t ors"
be ginning on pa ge S -2 of t he a c c om pa nying prospe c t us supple m e nt a nd on pa ge 5 of t he a c c om pa nying prospe c t us.
T he init ia l e st im a t e d va lue of your not e s a t t he t im e t he t e rm s of your not e s w e re se t on t he t ra de da t e w a s $ 9 9 1 .0 0 pe r $ 1 ,0 0 0 princ ipa l a m ount ,
w hic h is le ss t ha n t he origina l issue pric e of your not e s list e d be low . Se e "Addit iona l I nform a t ion Re ga rding Est im a t e d V a lue of t he N ot e s" on t he
follow ing pa ge a nd "Addit iona l Risk s" be ginning on pa ge P -1 8 of t his doc um e nt for a ddit iona l inform a t ion. T he a c t ua l va lue of your not e s a t a ny
t im e w ill re fle c t m a ny fa c t ors a nd c a nnot be pre dic t e d w it h a c c ura c y.

Per Note
Total
Original Issue Price
100.00%
$6,016,000.00
Underwriting commissions
0.00%
$0.00
Proceeds to The Bank of Nova Scotia
100.00%
$6,016,000.00
N EI T H ER T H E U N I T ED ST AT ES SECU RI T I ES AN D EX CH AN GE COM M I SSI ON N OR AN Y ST AT E SECU RI T I ES COM M I SSI ON H AS APPROV ED OR
DI SAPPROV ED OF T H E N OT ES OR PASSED U PON T H E ACCU RACY OR T H E ADEQU ACY OF T H I S PRI CI N G SU PPLEM EN T , T H E ACCOM PAN Y I N G
PROSPECT U S, ACCOM PAN Y I N G PROSPECT U S SU PPLEM EN T OR ACCOM PAN Y I N G PRODU CT PROSPECT U S SU PPLEM EN T .
AN Y
REPRESEN T AT I ON T O T H E CON T RARY I S A CRI M I N AL OFFEN SE.
T H E N OT ES ARE N OT I N SU RED BY T H E CAN ADA DEPOSI T I N SU RAN CE CORPORAT I ON PU RSU AN T T O T H E CAN ADA DEPOSI T I N SU RAN CE
CORPORAT I ON ACT (T H E "CDI C ACT ") OR T H E U .S. FEDERAL DEPOSI T I N SU RAN CE CORPORAT I ON OR AN Y OT H ER GOV ERN M EN T AGEN CY OF
CAN ADA, T H E U N I T ED ST AT ES OR AN Y OT H ER J U RI SDI CT I ON .

Sc ot ia Ca pit a l (U SA) I nc .

Pricing Supplement dated December 27, 2018
The Capped Buffered Enhanced Participation Basket-Linked Notes Due January 6, 2021 (the "notes") offered hereunder are unsubordinated and unsecured obligations of The
Bank of Nova Scotia (the "Bank") and are subject to investment risks including possible loss of the principal amount invested due to the negative performance of the basket and
the credit risk of The Bank of Nova Scotia. As used in this pricing supplement, the "Bank," "we," "us" or "our" refers to The Bank of Nova Scotia. The notes will not be listed on
any U.S. securities exchange or automated quotation system.
The return on your notes will relate to the price return of the basket components and will not include a total return or dividend component. The notes are derivative products
based on the performance of the basket. The notes do not constitute a direct investment in any of the shares, units or other securities represented by the basket components.
By acquiring the notes, you will not have a direct economic or other interest in, claim or entitlement to, or any legal or beneficial ownership of any such share, unit or security and
will not have any rights as a shareholder, unitholder or other security holder of any of the issuers including, without limitation, any voting rights or rights to receive dividends or
other distributions.
Scotia Capital (USA) Inc. ("SCUSA"), our affiliate, has agreed to purchase the notes from us for distribution to one or more registered broker dealers. SCUSA or any of its
affiliates or agents may use this pricing supplement in market-making transactions in notes after their initial sale. Unless we, SCUSA or another of our affiliates or agents selling
such notes to you informs you otherwise in the confirmation of sale, this pricing supplement is being used in a market-making transaction. See "Supplemental Plan of Distribution
(Conflicts of Interest)" in this pricing supplement and "Supplemental Plan of Distribution (Conflicts of Interest)" on page PS-34 of the accompanying product prospectus
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Submission Documents
supplement.
The original issue price, commissions and proceeds to the Bank listed above relate to the notes we issue initially. We may decide to sell additional notes after the date of this
pricing supplement, at original issue prices and with commissions and proceeds to the Bank that differ from the amounts set forth above. The return (whether positive or
negative) on your investment in the notes will depend in part on the original issue price you pay for such notes.
Addit iona l I nform a t ion Re ga rding Est im a t e d V a lue of t he N ot e s
On the cover page of this pricing supplement, the Bank has provided the initial estimated value for the notes. This estimated value was determined by reference to the Bank's
internal pricing models, which take into consideration certain factors, such as the Bank's internal funding rate on the trade date and the Bank's assumptions about market
parameters. For more information about the initial estimated value, see "Additional Risks" beginning on page P-18.
The economic terms of the notes (including the maximum payment amount) are based on the Bank's internal funding rate, which is the rate the Bank would pay to borrow funds
through the issuance of similar market-linked notes, any underwriting discount and the economic terms of certain related hedging arrangements. Due to these factors, the original
issue price you pay to purchase the notes will be greater than the initial estimated value of the notes. The Bank's internal funding rate is typically lower than the rate the Bank
would pay when it issues conventional fixed rate debt securities as discussed further under "Additional Risks -- Neither the Bank's nor SCUSA's estimated value of the notes at
any time is determined by reference to credit spreads or the borrowing rate the Bank would pay for its conventional fixed-rate debt securities". The Bank's use of its internal
funding rate reduces the economic terms of the notes to you.
The value of your notes at any time will reflect many factors and cannot be predicted; however, the price (not including SCUSA's customary bid and ask spreads) at which
SCUSA would initially buy or sell notes in the secondary market (if SCUSA makes a market, which it is not obligated to do) is equal to approximately SCUSA's estimate of the
market value of your notes on the trade date, based on its pricing models and taking into account the Bank's internal funding rate, plus an additional amount (initially equal to
$9.00 per $1,000 principal amount).
Prior to March 27, 2019, the price (not including SCUSA's customary bid and ask spreads) at which SCUSA would buy or sell your notes (if it makes a market, which it is not
obligated to do) will equal approximately the sum of (a) the then-current estimated value of your notes (as determined by reference to SCUSA's pricing models) plus (b) any
remaining additional amount (the additional amount will decline to zero on a straight-line basis from the time of pricing through March 26, 2019). On and after March 27, 2019,
the price (not including SCUSA's customary bid and ask spreads) at which SCUSA would buy or sell your notes (if it makes a market) will equal approximately the then-current
estimated value of your notes determined by reference to such pricing models. For additional information regarding the price at which SCUSA would buy or sell your notes (if
SCUSA makes a market, which it is not obligated to do), each based on SCUSA's pricing models; see "Additional Risks--The price at which SCUSA would buy or sell your
notes (if SCUSA makes a market, which it is not obligated to do) will be based on SCUSA's estimated value of your notes".
We urge you t o re a d t he "Addit iona l Risk s" be ginning on pa ge P -1 8 of t his pric ing supple m e nt .
P-2
Sum m a ry
The information in this "Summary" section is qualified by the more detailed information set forth in this pricing supplement, the accompanying prospectus, accompanying
prospectus supplement, and accompanying product prospectus supplement, each filed with the Securities and Exchange Commission ("SEC"). See "Additional Terms of Your
Notes" in this pricing supplement.
I ssue r:
The Bank of Nova Scotia (the "Bank")


I ssue :
Senior Note Program, Series A


CU SI P/I SI N :
CUSIP 064159MY9 / ISIN US064159MY92


T ype of N ot e s:
Capped Buffered Enhanced Participation Basket-Linked Notes


Ba sk e t Com pone nt s:
The EURO STOXX 50® Index (Bloomberg Ticker: "SX5E"), as published by STOXX Limited ("STOXX"); TOPIX (Bloomberg
Ticker: "TPX Index"), as maintained by the Tokyo Stock Exchange, Inc. ("TSE"); the FTSE® 100 Index (Bloomberg Ticker:
"UKX Index"), as published by FTSE Russell ("FTSE"); the Swiss Market Index (Bloomberg Ticker: "SMI Index"), as published
by SIX Group Ltd. ("SIX Group"); and the S&P/ASX 200 Index (Bloomberg Ticker: "AS51 Index"), as published by S&P Dow
Jones Indices LLC ("S&P"); see "Information Regarding the Basket and the Basket Components" beginning on page P-26. We
refer to each of STOXX, TSE, FTSE, SIX Group and S&P as a "basket component sponsor", and together as the "basket
component sponsors".


M inim um I nve st m e nt a nd De nom ina t ions: $1,000 and integral multiples of $1,000 in excess thereof


Princ ipa l Am ount :
$1,000 per note; $6,016,000 in the aggregate for all the offered notes; the aggregate principal amount of the offered notes
may be increased if the Bank, at its sole option, decides to sell an additional amount of the offered notes on a date
subsequent to the date of this pricing supplement.


Origina l I ssue Pric e :
100% of the principal amount of each note


Curre nc y:
U.S. dollars


T ra de Da t e :
December 27, 2018


Origina l I ssue Da t e :
January 4, 2019
Delivery of the notes will be made against payment therefor on or about the 5th business day following the date of pricing of
the notes (this settlement cycle being referred to as "T+5"). Under Rule 15c6-1 of the Securities Exchange Act of 1934, as
amended, trades in the secondary market generally are required to settle in two business days (T+2), unless the parties to
any such trade expressly agree otherwise. Accordingly, purchasers who wish to trade the notes on or prior to the third
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Submission Documents
business day after the trade date will be required, by virtue of the fact that each note initially will settle in 5 business days
(T+5), to specify alternative settlement arrangements to prevent a failed settlement.


P-3
V a lua t ion Da t e :

January 4, 2021.

The valuation date could be delayed by the occurrence of a market disruption event. See "General Terms of the Notes --
Market Disruption Events" beginning on page PS-20 in the accompanying product prospectus supplement. Further, if the
valuation date is not a trading day, the valuation date will be postponed in the same manner as if a market disruption event
occurred.



M a t urit y Da t e :

January 6, 2021, subject to adjustment due to a market disruption event, a non-trading day or a non-business day, as
described in more detail under "General Terms of the Notes--Maturity Date" on page PS-18 in the accompanying product
prospectus supplement.



Princ ipa l a t Risk :

You may lose all or a substantial portion of your initial investment at maturity if there is a percentage decrease from the initial
basket level to the final basket level of more than 20%.



Purc ha se a t a m ount ot he r t ha n t he

The amount we will pay you on the maturity date for your notes will not be adjusted based on the original issue price you pay
princ ipa l a m ount :
for your notes, so if you acquire notes at a premium (or discount) to the principal amount and hold them to the maturity date, it
could affect your investment in a number of ways. The return on your investment in such notes will be lower (or higher) than it
would have been had you purchased the notes at the principal amount. Also, the stated buffer level would not offer the same
measure of protection to your investment as would be the case if you had purchased the notes at the principal amount.
Additionally, the maximum payment amount would be triggered at a lower (or higher) percentage return than indicated below,
relative to your initial investment. See "Additional Risks--If you purchase your notes at a premium to the principal amount, the
return on your investment will be lower than the return on notes purchased at the principal amount and the impact of certain
key terms of the notes will be negatively affected" on page P-23 of this pricing supplement.



Fe e s a nd Ex pe nse s:

As part of the distribution of the notes, SCUSA or one of our affiliates will sell the notes to certain unaffiliated securities
dealers at the original issue price per note specified on the cover hereof. See "Supplemental Plan of Distribution (Conflicts of
Interest)" in this pricing supplement.

The price at which you purchase the notes includes costs that the Bank or its affiliates expect to incur and profits that the
Bank or its affiliates expect to realize in connection with hedging activities related to the notes, as set forth below under
"Supplemental Plan of Distribution (Conflicts of Interest)". These costs and profits will likely reduce the secondary market
price, if any secondary market develops, for the notes. As a result, you may experience an immediate and substantial decline
in the market value of your notes on the trade date. See "Additional Risks--Hedging activities by the Bank and SCUSA may
negatively impact investors in the notes and cause our respective interests and those of our clients and counterparties to be
contrary to those of investors in the notes" in this pricing supplement.
P-4
Pa ym e nt a t M a t urit y:
The payment at maturity will be based on the performance of the basket and will be calculated as follows:

If the final basket level is greater than the initial basket level, then the payment at maturity will equal:

?
The lesser of (a) the principal amount + (principal amount x basket return x participation rate) and (b) the maximum

o
payment amount
If the final basket level is greater than or equal to the buffer level, but less than or equal to the initial basket level, then

?
the payment at maturity will equal the principal amount
If the final basket level is less than the buffer level, then the payment at maturity will equal:

?
principal amount + [principal amount x buffer rate x (basket return + buffer percentage)]

o
In this case you will suffer a percentage loss on your initial investment equal to the buffer rate multiplied by the
negative basket return in excess of the buffer percentage. Accordingly, you could lose up to 100% of your initial
investment.


I nit ia l Ba sk e t Le ve l:
100


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Submission Documents
I nit ia l We ight e d V a lue ; I nit ia l We ight in
The initial weighted value for each of the basket components equals the product of the initial weight in the basket of such
Ba sk e t :
basket component times the initial basket level. The initial weight in the basket of each basket component is shown in the
table below:



Ba sk e t Com pone nt

I nit ia l We ight in Ba sk e t

EURO STOXX 50® Index

36.00%

TOPIX

27.00%

FTSE® 100 Index

20.00%

Swiss Market Index

9.00%

S&P/ASX 200 Index

8.00%


I nit ia l EU RO ST OX X 5 0 ® I nde x Le ve l:
2,937.36


I nit ia l T OPI X Le ve l:
1,501.63


I nit ia l FT SE® 1 0 0 I nde x Le ve l:
6,584.68


I nit ia l Sw iss M a rk e t I nde x Le ve l:
8,195.64


I nit ia l S& P/ASX 2 0 0 I nde x Le ve l:
5,597.238


Fina l EU RO ST OX X 5 0 ® I nde x Le ve l:
The closing level of such basket component calculated on the valuation date. In certain special circumstances, the final level
will be determined by the calculation agent, in its discretion. See "General Terms of the Notes -- Unavailability of the Level of
the Reference Asset on a Valuation Date" on page PS-19 and "General Terms of the Notes -- Market Disruption Events"
beginning on page PS-20 in the accompanying product prospectus supplement.


P-5
Fina l T OPI X Le ve l:
The closing level of such basket component calculated on the valuation date. In certain special circumstances, the final level

will be determined by the calculation agent, in its discretion. See "General Terms of the Notes -- Unavailability of the Level of
the Reference Asset on a Valuation Date" on page PS-19 and "General Terms of the Notes -- Market Disruption Events"
beginning on page PS-20 in the accompanying product prospectus supplement.


Fina l FT SE® 1 0 0 I nde x Le ve l:
The closing level of such basket component calculated on the valuation date. In certain special circumstances, the final level
will be determined by the calculation agent, in its discretion. See "General Terms of the Notes -- Unavailability of the Level of
the Reference Asset on a Valuation Date" on page PS-19 and "General Terms of the Notes -- Market Disruption Events"
beginning on page PS-20 in the accompanying product prospectus supplement.


Fina l Sw iss M a rk e t I nde x le ve l:
The closing level of such basket component calculated on the valuation date. In certain special circumstances, the final level
will be determined by the calculation agent, in its discretion. See "General Terms of the Notes -- Unavailability of the Level of
the Reference Asset on a Valuation Date" on page PS-19 and "General Terms of the Notes -- Market Disruption Events"
beginning on page PS-20 in the accompanying product prospectus supplement.


Fina l S& P/ASX 2 0 0 I nde x le ve l:
The closing level of such basket component calculated on the valuation date. In certain special circumstances, the final level
will be determined by the calculation agent, in its discretion. See "General Terms of the Notes -- Unavailability of the Level of
the Reference Asset on a Valuation Date" on page PS-19 and "General Terms of the Notes -- Market Disruption Events"
beginning on page PS-20 in the accompanying product prospectus supplement.


Fina l Ba sk e t Le ve l:
The sum of the following: (1) the final EURO STOXX 50® Index level divided by the initial EURO STOXX 50® Index level,
multiplied by the initial weighted value of the EURO STOXX 50® Index plus (2) the final TOPIX level divided by the initial
TOPIX level, multiplied by the initial weighted value of TOPIX plus (3) the final FTSE® 100 Index level divided by the initial
FTSE® 100 Index level, multiplied by the initial weighted value of the FTSE® 100 Index plus (4) the final Swiss Market
Index level divided by the initial Swiss Market Index level, multiplied by the initial weighted value of the Swiss Market Index
plus (5) the final S&P/ASX 200 Index level divided by the initial S&P/ASX 200 Index level, multiplied by the initial weighted
value of the S&P/ASX 200 Index.


Ba sk e t Re t urn:
The quotient of (1) the final basket level minus the initial basket level divided by (2) the initial basket level, expressed as a
percentage.


Pa rt ic ipa t ion Ra t e :
250.00%


M a x im um Pa ym e nt Am ount :
$1,349.25. The maximum payment amount sets a cap on appreciation of the basket of 13.97%.


Buffe r Le ve l:
80.00% of the initial basket level


Buffe r Pe rc e nt a ge :
20.00%


Buffe r Ra t e :
The quotient of the initial basket level divided by the buffer level, which equals 125.00%

P-6
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Submission Documents
Closing Le ve l:
As used herein, the "closing level" of a basket component on any date will be determined based upon the closing level
published on the Bloomberg page for such basket component, or any successor page on Bloomberg or any successor service,
as applicable, on such date.


T ra ding Da y:
(i) With respect to the EURO STOXX 50® Index, a day on which the level of such basket component is calculated and
published by the basket component sponsor, regardless of whether one or more of the principal securities markets for the
constituent stocks comprising such basket component ("component stocks") are closed on that day and (ii) with respect to
each of TOPIX, the FTSE® 100 Index, the Swiss Market Index and the S&P/ASX 200 Index, a day on which the respective
principal securities markets for all of the component stocks are open for trading, such basket component sponsor is open for
business and such basket component is calculated and published by such basket component sponsor; although a basket
component sponsor may publish a level with respect to a basket component on a day when one or more of the principal
securities markets for such component stocks are closed, that day would not be a trading day for purposes of such basket
component.


Form of N ot e s:
Book-entry


Ca lc ula t ion Age nt :
Scotia Capital Inc., an affiliate of the Bank


St a t us:
The notes will constitute direct, unsubordinated and unsecured obligations of the Bank ranking pari passu with all other direct,
unsecured and unsubordinated indebtedness of the Bank from time to time outstanding (except as otherwise prescribed by
law). Holders will not have the benefit of any insurance under the provisions of the CDIC Act, the U.S. Federal Deposit
Insurance Act or under any other deposit insurance regime of any jurisdiction.


T a x Re de m pt ion:
The Bank (or its successor) may redeem the notes, in whole but not in part, at a redemption price determined by the
calculation agent in a manner reasonably calculated to preserve your and our relative economic position, if it is determined
that changes in tax laws or their interpretation will result in the Bank (or its successor) becoming obligated to pay additional
amounts with respect to the notes. See "Tax Redemption" in the accompanying product prospectus supplement.


List ing:
The notes will not be listed on any securities exchange or quotation system.


U se of Proc e e ds:
General corporate purposes


Cle a ra nc e a nd Se t t le m e nt :
Depository Trust Company


Busine ss Da y:
New York and Toronto


T e rm s I nc orpora t e d:
All of the terms appearing above the item under the caption "General Terms of the Notes" beginning on page PS-15 in the
accompanying product prospectus supplement, as modified by this pricing supplement.


Ca na dia n Ba il-in:
The notes are not bail-inable debt securities under the CDIC Act.

I N V EST I N G I N T H E N OT ES I N V OLV ES SI GN I FI CAN T RI SK S. Y OU M AY LOSE ALL OR A SU BST AN T I AL PORT I ON OF Y OU R I N V EST M EN T . AN Y
PAY M EN T ON T H E N OT ES, I N CLU DI N G AN Y REPAY M EN T OF PRI N CI PAL, I S SU BJ ECT T O T H E CREDI T WORT H I N ESS OF T H E BAN K . I F T H E BAN K
WERE T O DEFAU LT ON I T S PAY M EN T OBLI GAT I ON S Y OU M AY N OT RECEI V E AN Y AM OU N T S OWED T O Y OU U N DER T H E N OT ES AN D Y OU
COU LD LOSE Y OU R EN T I RE I N V EST M EN T .

P-7
ADDI T I ON AL T ERM S OF Y OU R N OT ES
You should read this pricing supplement together with the prospectus dated December 26, 2018, as supplemented by the prospectus supplement dated December 26, 2018 and
the product prospectus supplement (Equity Linked Index Notes, Series A) dated December 26, 2018, relating to our Senior Note Program, Series A, of which these notes are a
part. Capitalized terms used but not defined in this pricing supplement will have the meanings given to them in the product prospectus supplement. In the event of any conflict
between this pricing supplement and any of the foregoing, the following hierarchy will govern: first, this pricing supplement; second, the accompanying product prospectus
supplement; third, the prospectus supplement; and last, the prospectus. The notes may vary from the terms described in the accompanying prospectus, accompanying
prospectus supplement and accompanying product prospectus supplement in several important ways. You should read this pricing supplement carefully, including
the documents incorporated by reference herein.
This pricing supplement, together with the documents listed below, contains the terms of the notes and supersedes all prior or contemporaneous oral statements as well as any
other written materials including preliminary or indicative pricing terms, correspondence, trade ideas, structures for implementation, sample structures, brochures or other
educational materials of ours. You should carefully consider, among other things, the matters set forth in "Additional Risk Factors Specific to the Notes" in the accompanying
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Submission Documents
product prospectus supplement, as the notes involve risks not associated with conventional debt securities. We urge you to consult your investment, legal, tax, accounting and
other advisors before you invest in the notes. You may access these documents on the SEC website at www.sec.gov as follows (or if that address has changed, by reviewing our
filings for the relevant date on the SEC website).
Product Prospectus Supplement (Equity Linked Index Notes, Series A) dated December 26, 2018:
http://www.sec.gov/Archives/edgar/data/9631/000091412118002483/bn50682441-424b2.htm
Prospectus Supplement dated December 26, 2018:
http://www.sec.gov/Archives/edgar/data/9631/000091412118002473/bn50676984-424b3.htm
Prospectus dated December 26, 2018:
http://www.sec.gov/Archives/edgar/data/9631/000119312518357537/d677731d424b3.htm
P-8
I N V EST OR SU I T ABI LI T Y
The notes may be suitable for you if:
?
You fully understand the risks inherent in an investment in the notes, including the risk of losing all or a substantial portion of your initial investment.
?
You believe the level of the basket will appreciate over the term of the notes and that the appreciation is unlikely to exceed the cap on appreciation within the maximum
payment amount.
?
You can tolerate a loss of up to 100% of your initial investment and are willing to make an investment that, if the final basket level is less than the buffer level, has an
accelerated downside risk greater than the downside market risk of an investment in the basket components or in the component stocks.
?
You are willing to hold the notes to maturity, a term of approximately 24 months, and accept that there may be little or no secondary market for the notes.
?
You understand and accept that your potential return is limited to the maximum payment amount and you are willing to invest in the notes based on the maximum
payment amount.
?
You can tolerate fluctuations in the price of the notes prior to maturity that may be similar to or exceed the downside fluctuations in the level of the basket components
or the price of the component stocks.
?
You do not seek current income from your investment and are willing to forego any dividends paid on the component stocks.
?
You seek an investment with exposure to companies in the Eurozone, Japan, United Kingdom, Switzerland and Australia.
?
You are willing to assume the credit risk of the Bank for all payments under the notes, and understand that if the Bank defaults on its obligations you may not receive
any amounts due to you including any repayment of principal.
The notes may not be suitable for you if:
?
You do not fully understand the risks inherent in an investment in the notes, including the risk of losing all or a substantial portion of your initial investment.
?
You believe that the level of the basket will decline during the term of the notes or you believe the level of the basket will appreciate over the term of the notes and that
the appreciation is likely to exceed the cap on appreciation within the maximum payment amount.
?
You require an investment designed to guarantee a full return of principal at maturity.
?
You cannot tolerate a loss of up to 100% of your initial investment or are not willing to make an investment that, if the final basket level is less than the buffer level, has
an accelerated downside risk greater than the downside market risk of an investment in the basket components or in the component stocks.
?
You seek an investment that has unlimited return potential without a cap on appreciation or you are unwilling to invest in the notes based on the maximum payment
amount.
?
You cannot tolerate fluctuations in the price of the notes prior to maturity that may be similar to or exceed the downside fluctuations in the level of the basket
components or the price of the component stocks.
?
You seek current income from your investment or are unwilling to forego any dividends paid on the component stocks.
?
You are unable or unwilling to hold the notes to maturity, a term of approximately 24 months, or you seek an investment for which there will be a secondary market.
?
You do not seek an investment with exposure to companies in the Eurozone, Japan, United Kingdom, Switzerland and Australia.
?
You are not willing to assume the credit risk of the Bank for all payments under the notes.
T he inve st or suit a bilit y c onside ra t ions ide nt ifie d a bove a re not e x ha ust ive . Whe t he r or not t he not e s a re a suit a ble inve st m e nt for you w ill
de pe nd on your individua l c irc um st a nc e s a nd you should re a c h a n inve st m e nt de c ision only a ft e r you a nd your inve st m e nt , le ga l, t a x , a c c ount ing
a nd ot he r a dvisors ha ve c a re fully c onside re d t he
P-9
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Submission Documents

suit a bilit y of a n inve st m e nt in t he not e s in light of your pa rt ic ula r c irc um st a nc e s. Y ou should a lso re vie w ``Addit iona l Risk s'' be ginning on pa ge P -
1 8 of t his pric ing supple m e nt , ``Addit iona l Risk Fa c t ors Spe c ific t o t he N ot e s'' be ginning on pa ge PS-6 of t he a c c om pa nying produc t prospe c t us
supple m e nt a nd "Risk Fa c t ors" be ginning on pa ge S -2 of t he a c c om pa nying prospe c t us supple m e nt a nd on pa ge 5 of t he a c c om pa nying
prospe c t us for risk s re la t e d t o a n inve st m e nt in t he not e s.
P-10
H Y POT H ET I CAL PAY M EN T S AT M AT U RI T Y ON T H E N OT ES
The examples set out below are included for illustration only. They should not be taken as an indication or prediction of future investment results and are intended merely to
illustrate the impact that the various hypothetical basket closing levels or hypothetical closing levels of the basket components, as applicable, on the valuation date could have
on the payment at maturity assuming all other variables remain constant.
The examples below are based on a range of final basket levels and closing levels of the basket components that are entirely hypothetical; the level of the basket on any day
throughout the life of your notes, including the final basket level on the valuation date, cannot be predicted. The basket components have been highly volatile in the past,
meaning that the levels of the basket components have changed considerably in relatively short periods, and their performances cannot be predicted for any future period.
The information in the following examples reflects hypothetical rates of return on the offered notes assuming that they are purchased on the original issue date at the principal
amount and held to the maturity date. If you sell your notes in a secondary market prior to the maturity date, your return will depend upon the market value of your notes at the
time of sale, which may be affected by a number of factors that are not reflected in the examples below, such as interest rates, the volatility of the basket components and our
creditworthiness. In addition, the estimated value of your notes at the time the terms of your notes were set on the trade date (as determined by reference to pricing models
used by us) is less than the original issue price of your notes. For more information on the estimated value of your notes, see "Additional Risks--The Bank's initial estimated
value of the notes at the time of pricing (when the terms of your notes were set on the trade date) is lower than the original issue price of the notes" on page P-18 of this pricing
supplement. The information in the examples also reflect the key terms and assumptions in the box below.
K e y T e rm s a nd Assum pt ions
Principal amount
$1,000
Participation rate
250.00%
Initial basket level
100
Maximum payment amount
$1,349.25
Buffer level
80.00% of the initial basket level
Buffer percentage
20.00%
Buffer rate
125.00%
Neither a market disruption event nor a non-trading day occurs with respect to any basket component on the originally scheduled valuation date.
No change in or affecting any of the basket components or the methods by which any of the basket component sponsors calculates the EURO STOXX 50® Index, TOPIX, the
FTSE® 100 Index, the Swiss Market Index or the S&P/ASX 200 Index, respectively.
Notes purchased on the original issue date at the principal amount and held to the maturity date.
The actual performance of the basket over the life of your notes, as well as the amount payable at maturity, if any, may bear little relation to the hypothetical examples
shown below or to the historical level of each basket component shown elsewhere in this pricing supplement. For information about the historical level of each basket component
see "Information Regarding the Basket and the Basket Components" below.
Also, the hypothetical examples shown below do not take into account the effects of applicable taxes. Because of the U.S. tax treatment applicable to your notes, tax
liabilities could affect the after-tax rate of return on your notes to a comparatively greater extent than the after-tax return on the basket components.
The levels in the left column of the table below represent hypothetical final basket levels and are expressed as percentages of the initial basket level. The amounts in the right
column represent the hypothetical payment at maturity, based on the corresponding hypothetical final basket level (expressed as a percentage of the initial basket level), and are
expressed as percentages of the principal amount of a note (rounded to the nearest one-thousandth of a percent). Thus, a hypothetical payment at maturity of 100.000% means
that the value of the cash payment that we would deliver for each $1,000 of the outstanding principal amount of the offered notes on the maturity date would equal 100.000% of
the principal amount of a
P-11
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Submission Documents
note, based on the corresponding hypothetical final basket level (expressed as a percentage of the initial basket level) and the assumptions noted above.
H ypot he t ic a l Fina l Ba sk e t Le ve l
H ypot he t ic a l Pa ym e nt a t M a t urit y
(a s Pe rc e nt a ge of I nit ia l Ba sk e t
(a s Pe rc e nt a ge of Princ ipa l
Le ve l)
Am ount )
150.000%
134.925%
140.000%
134.925%
130.000%
134.925%
120.000%
134.925%
1 1 3 .9 7 0 %
1 3 4 .9 2 5 %
110.000%
125.000%
105.000%
112.500%
1 0 0 .0 0 0 %
1 0 0 .0 0 0 %
95.000%
100.000%
90.000%
100.000%
8 0 .0 0 0 %
1 0 0 .0 0 0 %
75.000%
93.750%
50.000%
62.500%
25.000%
31.250%
0 .0 0 0 %
0 .0 0 0 %
If, for example, the final basket level were determined to be 25.000% of the initial basket level, the payment at maturity that we would pay on your notes at maturity would be
31.250% of the principal amount of your notes, as shown in the table above. As a result, if you purchased your notes on the original issue date at the principal amount and held
them to the maturity date, you would lose 68.750% of your investment (if you purchased your notes at a premium to the principal amount you would lose a correspondingly higher
percentage of your investment). If the final basket level were determined to be 0.000% of the initial basket level, you would lose 100.000% of your investment in the notes. In
addition, if the final basket level were determined to be 150.000% of the initial basket level, the payment at maturity that we would pay on your notes at maturity would be
capped at the maximum payment amount, or 134.925% of each $1,000 principal amount of your notes, as shown in the table above. As a result, if you held your notes to the
maturity date, you would not benefit from any increase in the final basket level of greater than 113.970% of the initial basket level.
P-12
The following chart shows a graphical illustration of the hypothetical payment at maturity that we would pay on your notes on the maturity date, if the final basket level were any
of the hypothetical levels shown on the horizontal axis. The hypothetical payments at maturity in the chart are expressed as percentages of the principal amount of your notes
and the hypothetical final basket levels are expressed as percentages of the initial basket level. The chart shows that any hypothetical final basket level of less than 80.000%
(the section left of the 80.000% marker on the horizontal axis) would result in a hypothetical payment at maturity of less than 100.000% of the principal amount of your notes
(the section below the 100.000% marker on the vertical axis) and, accordingly, in a loss of principal to the holder of the notes. The chart also shows that any hypothetical final
basket level of greater than or equal to 113.970% (the section right of the 113.970% marker on the horizontal axis) would result in a capped return on your investment.
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The following examples illustrate the hypothetical payment at maturity for each note based on hypothetical final levels of the basket components, calculated based on the key
terms and assumptions above. The levels in Column A represent hypothetical initial levels for each basket component, and the levels in Column B represent hypothetical final
levels for each basket component. The percentages in Column C represent hypothetical final levels for each basket component in Column B expressed as percentages of the
corresponding hypothetical initial levels in Column A. The amounts in Column D represent the applicable initial weighted value for each basket component, and the amounts in
Column E represent the products of the percentages in Column C times the corresponding amounts in Column D. The final basket level for each example is shown beneath
each example, and will equal the sum of the products shown in Column E. The basket return for each example is shown beneath the final basket level for such example, and
will equal the quotient of (i) the final basket level for such example minus the initial basket level divided by (ii) the initial basket level, expressed as a percentage. The values
below have been rounded for ease of analysis.
The hypothetical initial level for each basket component of 100.00 has been chosen for illustrative purposes only and does not represent the actual initial level for that basket
component. For historical data regarding the actual historical levels of the basket components, please see the historical information set forth below under "Information Regarding
the Basket and the Basket Components".

P-13
Ex a m ple 1 : T he fina l ba sk e t le ve l is gre a t e r t ha n t he init ia l ba sk e t le ve l a nd t he pa ym e nt a t m a t urit y e qua ls t he m a x im um pa ym e nt a m ount .



Colum n A

Colum n B

Colum n C

Colum n D

Colum n E











H ypot he t ic a l I nit ia l
H ypot he t ic a l Fina l
I nit ia l We ight e d
Colum n C × Colum n
Ba sk e t Com pone nt

Le ve l

Le ve l

Colum n B / Colum n A
V a lue

D
EURO STOXX 50® Index
100.00

135.00

135.00%

36.00

48.60
TOPIX

100.00

135.00

135.00%

27.00

36.45
FTSE® 100 Index

100.00

135.00

135.00%

20.00

27.00
Swiss Market Index

100.00

135.00

135.00%

9.00

12.15
S&P/ASX 200 Index

100.00

135.00

135.00%

8.00

10.80


















Final Basket Level:
135.00








Basket Return:
35.00%

In this example, all of the hypothetical final levels for the basket components are greater than the applicable hypothetical initial levels, which results in the hypothetical final
basket level being greater than the initial basket level of 100. Since the hypothetical final basket level was determined to be 135.00, the hypothetical payment at maturity for
each $1,000 principal amount of your notes will equal:

Payment at maturity = $1,000 + ($1,000 × 35.00% × 250.00%) = $1,875.00
However, since the maximum payment amount is $1,349.25 for each $1,000 principal amount of your notes (i.e. 134.925% of each $1,000 principal amount of your notes), the
payment at maturity that we would pay on your notes at maturity would be capped at the maximum payment amount.
Ex a m ple 2 : T he fina l ba sk e t le ve l is gre a t e r t ha n t he init ia l ba sk e t le ve l a nd t he pa ym e nt a t m a t urit y is le ss t ha n t he m a x im um pa ym e nt a m ount .
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Colum n A

Colum n B

Colum n C

Colum n D

Colum n E











H ypot he t ic a l I nit ia l
H ypot he t ic a l Fina l
I nit ia l We ight e d
Colum n C × Colum n
Ba sk e t Com pone nt

Le ve l

Le ve l

Colum n B / Colum n A
V a lue

D
EURO STOXX 50® Index
100.00

101.00

101.00%

36.00

36.36
TOPIX

100.00

103.00

103.00%

27.00

27.81
FTSE® 100 Index

100.00

102.00

102.00%

20.00

20.40
Swiss Market Index

100.00

108.00

108.00%

9.00

9.72
S&P/ASX 200 Index

100.00

120.00

120.00%

8.00

9.60


















Final Basket Level:
103.89








Basket Return:
3.89%

In this example, all of the hypothetical final levels for the basket components are greater than the applicable hypothetical initial levels, which results in the hypothetical final
basket level being greater than the initial basket level of 100. Since the hypothetical final basket level was determined to be 103.89, the hypothetical payment at maturity for
each $1,000 principal amount of your notes will equal:

Payment at maturity = $1,000 + ($1,000 × 3.89% × 250.00%) = $1,097.25
P-14
Ex a m ple 3 : T he fina l ba sk e t le ve l is le ss t ha n t he init ia l ba sk e t le ve l, but gre a t e r t ha n t he buffe r le ve l. T he pa ym e nt a t m a t urit y e qua ls t he $ 1 ,0 0 0
princ ipa l a m ount .


Colum n A

Colum n B

Colum n C

Colum n D

Colum n E






H ypot he t ic a l
Ba sk e t Com pone nt

I nit ia l Le ve l

H ypot he t ic a l Fina l Le ve l
Colum n B / Colum n A I nit ia l We ight e d V a lue Colum n C × Colum n D
EURO STOXX 50® Index

100.00

95.00

95.00%

36.00

34.20
TOPIX

100.00

95.00

95.00%

27.00

25.65
FTSE® 100 Index

100.00

95.00

95.00%

20.00

19.00
Swiss Market Index

100.00

95.00

95.00%

9.00

8.55
S&P/ASX 200 Index

100.00

95.00

95.00%

8.00

7.60










Final Basket Level:
95.00





Basket Return:
-5.00%

In this example, all of the hypothetical final levels for the basket components are less than the applicable hypothetical initial levels, which results in the hypothetical final basket
level being less than the initial basket level of 100. Since the hypothetical final basket level of 95 is greater than the buffer level of 80.00% of the initial basket level but less than
the initial basket level of 100, the hypothetical payment at maturity for each $1,000 principal amount of your notes will equal the principal amount of the note, or $1,000.
Ex a m ple 4 : T he fina l ba sk e t le ve l is le ss t ha n t he buffe r le ve l. T he pa ym e nt a t m a t urit y is le ss t ha n t he $ 1 ,0 0 0 princ ipa l a m ount .


Colum n A

Colum n B

Colum n C

Colum n D

Colum n E






H ypot he t ic a l
Ba sk e t Com pone nt

I nit ia l Le ve l

H ypot he t ic a l Fina l Le ve l
Colum n B / Colum n A I nit ia l We ight e d V a lue Colum n C × Colum n D
EURO STOXX 50® Index

100.00

50.00

50.00%

36.00

18.00
TOPIX

100.00

70.00

70.00%

27.00

18.90
FTSE® 100 Index

100.00

100.00

100.00%

20.00

20.00
Swiss Market Index

100.00

115.00

115.00%

9.00

10.35
S&P/ASX 200 Index

100.00

135.00

135.00%

8.00

10.80










Final Basket Level:
78.05





Basket Return:
-21.95%

In this example, the hypothetical final levels of the EURO STOXX 50® Index and TOPIX are less than their hypothetical initial levels, while the hypothetical final level of the
FTSE® 100 Index is equal to its applicable hypothetical initial level and the hypothetical final levels of the Swiss Market Index and the S&P/ASX 200 Index are greater than their
applicable hypothetical initial levels.
Because the basket is unequally weighted, increases in the lower weighted basket components will be offset by decreases in the more heavily weighted basket components. In
this example, the declines in the EURO STOXX 50® Index and TOPIX results in the hypothetical final basket level being less than the buffer level of 80.00% of the initial basket
level even though the FTSE® 100 Index remained flat and the Swiss Market Index and the S&P/ASX 200 Index increased.
Since the hypothetical final basket level of 78.05 is less than the buffer level of 80.00% of the initial basket level, the hypothetical payment at maturity for each $1,000 principal
amount of your notes will equal:
Payment at maturity = $1,000 + [$1,000 × 125.00% × (-21.95% + 20.00%)] = $975.63
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