Obligation ScotiaBank 0% ( US06417R6669 ) en USD

ScotiaBank

100 % ⇌

Canada

US06417R6669 ( en USD )

27/05/2022 - Obligation échue

Prospectus brochure de l'obligation Bank of Nova Scotia US06417R6669 en USD 0%, échue

1 000 USD

58 033 000 USD

06417R666

N/A

La Banque de Nouvelle-Écosse (Scotiabank) est une banque multinationale canadienne offrant une vaste gamme de services financiers personnels et commerciaux à travers les Amériques, en Europe et en Asie-Pacifique.

L'Obligation émise par ScotiaBank ( Canada ) , en USD, avec le code ISIN US06417R6669, paye un coupon de 0% par an.
Le paiement des coupons est semestriel et la maturité de l'Obligation est le 27/05/2022

6/2/2020
https://www.sec.gov/Archives/edgar/data/9631/000091412120001992/bn55036937-424b2.htm
424B2 1 bn55036937-424b2.htm FORM 424B2

Filed Pursuant to Rule 424(b)(2)
Registration Statement No. 333-228614
(To Prospectus dated December 26,
2018,
Prospectus Supplement dated
December 26, 2018
and Product Prospectus Supplement
EQUITY LIRN-1 dated February 21,
2020)
5,803,255 Units
Pricing Date
May 28, 2020
$10 principal amount per unit
Settlement Date
June 4, 2020
CUSIP No. 06417R666
Maturity Date
May 27, 2022

Capped Leveraged Index Return Notes® Linked to the S&P
500® Index

Maturity of approximately two years

2-to-1 upside exposure to increases in the Index, subject to a capped return of 16.01%

1-to-1 downside exposure to decreases in the Index beyond a 10.00% decline, with up to 90.00% of your principal at
risk

Al payments occur at maturity and 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

The notes are being issued by The Bank of Nova Scotia ("BNS"). There are important differences between the
notes and a conventional debt security, including different investment risks and certain additional costs. See
"Risk Factors" beginning on page TS-6 of this term sheet, "Additional Risk Factors" on page TS-7 of this term
sheet and beginning on page PS-7 of product prospectus supplement EQUITY LIRN-1.
The initial estimated value of the notes as of the pricing date is $9.53 per unit, which is less than the public
offering price listed below. See "Summary" on the fol owing page, "Risk Factors" beginning on page TS-6 of this term
sheet and "Structuring the Notes" on page TS-15 of this term sheet for additional information. The actual value of your
notes at any time wil 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
$58,032,550.00
Underwriting discount
$0.20
$1,160,651.00
Proceeds, before expenses, to
$9.80
$56,871,899.00
BNS
The notes:
Are Not FDIC Insured
Are Not Bank Guaranteed
May Lose Value
https://www.sec.gov/Archives/edgar/data/9631/000091412120001992/bn55036937-424b2.htm
1/28

6/2/2020
https://www.sec.gov/Archives/edgar/data/9631/000091412120001992/bn55036937-424b2.htm
BofA Securities
May 28 , 2020
https://www.sec.gov/Archives/edgar/data/9631/000091412120001992/bn55036937-424b2.htm
2/28

6/2/2020
https://www.sec.gov/Archives/edgar/data/9631/000091412120001992/bn55036937-424b2.htm
Capped Leveraged Index Return Notes®

Linked to the S&P 500® Index due May 27, 2022
Summary
The Capped Leveraged Index Return Notes® Linked to the S&P 500® Index, due May 27, 2022 (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). The
notes will rank equally with all of our other unsecured senior debt. Any payments due on the notes, including any
repayment of principal, will be subject to the credit risk of BNS. The notes provide you a leveraged return, subject to a
cap, if the Ending Value of the Market Measure, which is the S&P 500® Index (the "Index"), is greater than the Starting
Value. If the Ending Value is equal to or less than the Starting Value but greater than or equal to the Threshold Value, you
wil receive the principal amount of your notes. If the Ending Value is less than the Threshold Value, you wil lose a portion,
which could be significant, of the principal amount of your notes. Any payments on the notes wil be calculated based on
the $10 principal amount per unit and wil 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 Capped Value) 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 typical y lower than the rate we would pay when we issue conventional fixed
rate debt securities. This difference in funding rate, as wel 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 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-15.
Terms of the Notes
Redemption Amount Determination
Issuer:
The Bank of Nova Scotia ("BNS") On the maturity date, you wil receive a cash payment per unit
determined as fol ows:
Principal
$10.00 per unit

Amount:
Term:
Approximately two years
Market
The S&P 500® Index (Bloomberg
Measure:
symbol: "SPX"), a price return
index
Starting Value: 3,029.73
Ending Value:
The average of the closing levels
of the Market Measure on each
calculation day occurring during
the Maturity Valuation Period. The
scheduled calculation days are
subject to postponement in the
event of Market Disruption Events,
as described beginning on page
PS-27 of product prospectus
supplement EQUITY LIRN-1.
Threshold
2,726.76 (90.00% of the Starting
Value:
Value, rounded to two decimal
places).
Participation
200.00%
Rate:
Capped Value: $11.601 per unit, which represents
a return of 16.01% over the
principal amount.
Maturity
May 18, 2022, May 19, 2022, May
Valuation
20, 2022, May 23, 2022 and May
Period:
24, 2022
Fees and
The underwriting discount of $0.20
Charges:
per unit listed on the cover page
https://www.sec.gov/Archives/edgar/data/9631/000091412120001992/bn55036937-424b2.htm
3/28

6/2/2020
https://www.sec.gov/Archives/edgar/data/9631/000091412120001992/bn55036937-424b2.htm
and the hedging related charge of
$0.075 per unit described in
"Structuring the Notes" on page
TS-15.
Calculation
BofA Securities, Inc. ("BofAS").
Agent:

Capped Leveraged Index Return Notes®
TS-2
https://www.sec.gov/Archives/edgar/data/9631/000091412120001992/bn55036937-424b2.htm
4/28

6/2/2020
https://www.sec.gov/Archives/edgar/data/9631/000091412120001992/bn55036937-424b2.htm
Capped Leveraged Index Return Notes®

Linked to the S&P 500® Index due May 27, 2022
The terms and risks of the notes are contained in this term sheet and in the fol owing:
Product prospectus supplement EQUITY LIRN-1 dated February 21, 2020:
https://www.sec.gov/Archives/edgar/data/9631/000091412120000697/bn54730277-424b2.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 Merril
Lynch, Pierce, Fenner & Smith Incorporated ("MLPF&S") in the accompanying product prospectus supplement EQUITY
LIRN-1, as such references relate to MLPF&S's institutional services, should be read as references to BofAS.
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 cal ing 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 LIRN-1. Unless otherwise indicated or unless the context requires
otherwise, al references in this document to "we," "us," "our," or similar references are to BNS.
Investor Considerations
You may wish to consider an investment in the notes if: The notes may not be an appropriate investment for
you if:

You anticipate that the Index wil increase moderately
You believe that the Index wil decrease from the

from the Starting Value to the Ending Value.
Starting Value to the Ending Value or that it wil not

You are wil ing to risk a substantial loss of principal if
increase sufficiently over the term of the notes to
the Index decreases from the Starting Value to an
provide you with your desired return.
Ending Value that is below the Threshold Value.
You seek 100% principal repayment or preservation of

You accept that the return on the notes wil be capped.
capital.

You are wil ing to forgo the interest payments that are
You seek an uncapped return on your investment.

paid on conventional interest bearing debt securities
You seek interest payments or other current income

.

You are wil ing to forgo dividends or other benefits of
on your investment.
owning the stocks included in the Index.
You want to receive dividends or other distributions

You are wil ing to accept a limited or no market for
paid on the stocks included in the Index.
sales prior to maturity, and understand that the
You seek an investment for which there wil be a liquid

market prices for the notes, if any, wil be affected by
secondary market.
various factors, including our actual and perceived
You are unwil ing or are unable to take market risk on

creditworthiness, our internal funding rate and fees
the notes or to take our credit risk as issuer of the
and charges on the notes.
notes.

You are wil ing to assume our credit risk, as issuer of
the notes, for al 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.
Capped Leveraged Index Return Notes®
TS-3
https://www.sec.gov/Archives/edgar/data/9631/000091412120001992/bn55036937-424b2.htm
5/28

6/2/2020
https://www.sec.gov/Archives/edgar/data/9631/000091412120001992/bn55036937-424b2.htm
Capped Leveraged Index Return Notes®

Linked to the S&P 500® Index due May 27, 2022
Hypothetical Payout Profile and Examples of Payments at Maturity
Capped Leveraged Index Return Notes®
This graph reflects the returns on the notes, based on the
Participation Rate of 200%, the Threshold Value of 90% of
the Starting Value and the Capped Value of $11.601. 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 il ustration
only.
The fol owing table and examples are for purposes of il ustration only. They are based on hypothetical values and show
hypothetical returns on the notes. They il ustrate the calculation of the Redemption Amount and total rate of return based
on a hypothetical Starting Value of 100, a hypothetical Threshold Value of 90, the Participation Rate of 200%, the Capped
Value of $11.601 per unit and a range of hypothetical Ending Values. The actual amount you receive and the resulting
total rate of return will depend on the actual Starting Value, Threshold Value, Ending Value and whether you hold
the notes to maturity. The fol owing 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 wil 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, al payments on the notes
are subject to issuer credit risk.
Percentage Change from
the Starting Value to the
Redemption Amount per
Total Rate of Return on the
Ending Value

Ending Value

Unit

Notes
0.000

-100.000%

$1.000

-90.000%
20.000

-80.000%

$3.000

-70.000%
50.000

-50.000%

$6.000

-40.000%
75.000

-25.000%

$8.500

-15.000%
85.000

-15.000%

$9.500

-5.000%
90.000(1)

-10.000%

$10.000

0.000%
94.000

-6.000%

$10.000

0.000%
97.000

-3.000%

$10.000

0.000%
100.000(2)

0.000%

$10.000

0.000%
102.000

2.000%

$10.400

4.000%
104.000

4.000%

$10.800

8.000%
105.000

5.000%

$11.000

10.000%
108.005

8.005%

$11.601(3)

16.010%
110.000

10.000%

$11.601

16.010%
120.000

20.000%

$11.601

16.010%
130.000

30.000%

$11.601

16.010%
140.000

40.000%

$11.601

16.010%
150.000

50.000%

$11.601

16.010%
(1) This is the hypothetical Threshold Value.
(2) The hypothetical Starting Value of 100 used in these examples has been chosen for il ustrative purposes only. The
actual Starting Value is 3,029.73, which was the closing level of the Market Measure on the pricing date.
(3) The Redemption Amount per unit cannot exceed the Capped Value.

https://www.sec.gov/Archives/edgar/data/9631/000091412120001992/bn55036937-424b2.htm
6/28

6/2/2020
https://www.sec.gov/Archives/edgar/data/9631/000091412120001992/bn55036937-424b2.htm
Capped Leveraged Index Return Notes®
TS-4
https://www.sec.gov/Archives/edgar/data/9631/000091412120001992/bn55036937-424b2.htm
7/28

6/2/2020
https://www.sec.gov/Archives/edgar/data/9631/000091412120001992/bn55036937-424b2.htm
Capped Leveraged Index Return Notes®

Linked to the S&P 500® Index due May 27, 2022
Redemption Amount Calculation Examples
Example 1
The Ending Value is 85.00, or 85.00% of the Starting Value:
Starting Value:
100.00
Threshold Value: 90.00
Ending Value:
85.00
Redemption Amount per unit
Example 2
The Ending Value is 97.00, or 97.00% of the Starting Value:
Starting Value:
100.00
Threshold Value: 90.00
Ending Value:
97.00
Redemption Amount (per unit) = $10.00, the principal amount, since the Ending Value is less than the Starting Value but
equal to or greater than the Threshold Value.
Example 3
The Ending Value is 102.00, or 102.00% of the Starting Value:
Starting Value:
100.00
Ending Value:
102.00
= $10.40 Redemption Amount per unit
Example 4
The Ending Value is 130.00, or 130.00% of the Starting Value:
Starting Value:
100.00
Ending Value:
130.00
= $16.00, however, because the Redemption Amount for the notes cannot
exceed the Capped Value, the Redemption Amount will be $11.601 per unit
Capped Leveraged Index Return Notes®
TS-5
https://www.sec.gov/Archives/edgar/data/9631/000091412120001992/bn55036937-424b2.htm
8/28

6/2/2020
https://www.sec.gov/Archives/edgar/data/9631/000091412120001992/bn55036937-424b2.htm
Capped Leveraged Index Return Notes®

Linked to the S&P 500® Index due May 27, 2022
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 careful y 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 LIRN-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.
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.
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.
Your investment return is limited to the return represented by the Capped Value and may be less than a
comparable investment directly in the stocks included in the Index.
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 sel ing and structuring the notes, as wel 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-15.
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 sel the notes in any secondary market and wil 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 wil ing
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 general y 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 sel 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 wil be wil ing 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.
https://www.sec.gov/Archives/edgar/data/9631/000091412120001992/bn55036937-424b2.htm
9/28

6/2/2020
https://www.sec.gov/Archives/edgar/data/9631/000091412120001992/bn55036937-424b2.htm
You wil have no rights of a holder of the securities included in the Index, and you wil 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 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, none of us, MLPF&S, BofAS or our respective affiliates control any
company included in the Index, and have not verified any disclosure made by any other company.
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.
Capped Leveraged Index Return Notes®
TS-6
https://www.sec.gov/Archives/edgar/data/9631/000091412120001992/bn55036937-424b2.htm
10/28