Obligation ScotiaBank 0% ( US06417R7089 ) en USD

ScotiaBank

100 % ▲

Canada

US06417R7089 ( en USD )

25/06/2021 - Obligation échue

Prospectus brochure de l'obligation Bank of Nova Scotia US06417R7089 en USD 0%, échue

1 000 USD

7 593 000 USD

06417R708

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 US06417R7089, paye un coupon de 0% par an.
Le paiement des coupons est semestriel et la maturité de l'Obligation est le 25/06/2021

4/28/2020
https://www.sec.gov/Archives/edgar/data/9631/000091412120001611/bn54962805-424b2.htm
424B2 1 bn54962805-424b2.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 INDICES
ARN-1 dated April 25, 2019)
759,269 Units
Pricing Date
April 23, 2020
$10 principal amount per unit
Settlement Date
April 30, 2020
CUSIP No. 06417R708
Maturity Date
June 25, 2021

Accelerated Return Notes® Linked to the Russell 2000® Index
Maturity of approximately 14 months
3-to-1 upside exposure to increases in the Index, subject to a capped return of 22.71%
1-to-1 downside exposure to decreases in the Index, with up to 100% of your investment 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-7 of this term sheet, "Additional Risk Factors" on page TS-8 of this term
sheet and "Risk Factors" beginning on page PS-6 of product prospectus supplement EQUITY INDICES ARN-1.
The initial estimated value of the notes as of the pricing date is $9.63 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-7 of this term
sheet and "Structuring the Notes" on page TS-14 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
$7,592,690.00
Underwriting discount
$ 0.20
$151,853.80
Proceeds, before expenses, to BNS
$ 9.80
$7,440,836.20
The notes:
Are Not FDIC Insured
Are Not Bank Guaranteed
May Lose Value
https://www.sec.gov/Archives/edgar/data/9631/000091412120001611/bn54962805-424b2.htm
1/27

4/28/2020
https://www.sec.gov/Archives/edgar/data/9631/000091412120001611/bn54962805-424b2.htm
BofA Securities
April 23, 2020
https://www.sec.gov/Archives/edgar/data/9631/000091412120001611/bn54962805-424b2.htm
2/27

4/28/2020
https://www.sec.gov/Archives/edgar/data/9631/000091412120001611/bn54962805-424b2.htm
Accelerated Return Notes®

Linked to the Russel 2000® Index, due June 25, 2021
Summary
The Accelerated Return Notes® Linked to the Russel 2000® Index, due June 25, 2021 (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 Russel 2000® Index (the "Index"), is greater than
the Starting Value. If the Ending Value is equal to the Starting Value, you wil receive the principal amount of your notes. If
the Ending Value is less than the Starting Value, you wil lose al or a portion 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-14.
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 14 months
Market
The Russel 2000® Index (Bloomberg
Measure:
symbol: "RTY"), a price return index
Starting Value:
1,214.065
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-19 of
product prospectus supplement EQUITY
INDICES ARN-1.
Participation
300%
Rate:
Capped Value:
$12.271 per unit, which represents a
return of 22.71% over the principal
amount.
Maturity
June 16, 2021, June 17, 2021, June 18,
Valuation
2021, June 21, 2021 and June 22, 2021
Period:
Fees and
The underwriting discount of $0.20 per
Charges:
unit listed on the cover page and the
hedging related charge of $0.075 per
unit described in "Structuring the Notes"
on page TS-14.
https://www.sec.gov/Archives/edgar/data/9631/000091412120001611/bn54962805-424b2.htm
3/27

4/28/2020
https://www.sec.gov/Archives/edgar/data/9631/000091412120001611/bn54962805-424b2.htm
Calculation
BofA Securities, Inc. ("BofAS").
Agent:
Accelerated Return Notes®
TS-2
https://www.sec.gov/Archives/edgar/data/9631/000091412120001611/bn54962805-424b2.htm
4/27

4/28/2020
https://www.sec.gov/Archives/edgar/data/9631/000091412120001611/bn54962805-424b2.htm
Accelerated Return Notes®

Linked to the Russel 2000® Index, due June 25, 2021
The terms and risks of the notes are contained in this term sheet and in the fol owing:
·
Product prospectus supplement EQUITY INDICES ARN-1 dated April 25, 2019:
https://www.sec.gov/Archives/edgar/data/9631/000091412119001059/p50679290-424b2.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
INDICES ARN-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 INDICES ARN-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

increase sufficiently over the term of the notes to
You are wil ing to risk a substantial or entire loss of
provide you with your desired return.
principal if the Index decreases from the Starting Value
to the Ending Value.
You seek principal repayment or preservation of capital.
You accept that the return on the notes wil be capped.
You seek an uncapped return on your investment.
You are wil ing to forgo the interest payments that are
You seek interest payments or other current income on
paid on conventional interest bearing debt securities.
your investment.
You are wil ing to forgo dividends or other benefits of
You want to receive dividends or other distributions paid
owning the stocks included in the Index.
on the stocks included in the Index.
You are wil ing to accept a limited or no market for sales
You seek an investment for which there wil be a liquid
prior to maturity, and understand that the market prices
secondary market.
for the notes, if any, wil be affected by various factors,
including our actual and perceived creditworthiness, our
You are unwil ing or are unable to take market risk on
internal funding rate and fees and charges on the notes.
the notes or to take our credit risk as issuer of the
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.
Accelerated Return Notes®
TS-3
https://www.sec.gov/Archives/edgar/data/9631/000091412120001611/bn54962805-424b2.htm
5/27

4/28/2020
https://www.sec.gov/Archives/edgar/data/9631/000091412120001611/bn54962805-424b2.htm
Accelerated Return Notes®

Linked to the Russel 2000® Index, due June 25, 2021
Hypothetical Payout Profile and Examples of Payments at Maturity
Accelerated Return Notes®

This graph reflects the returns on the notes based on the
Participation Rate of 300% and the Capped Value of
$12.271 per unit. 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, the Participation Rate of 300%, the Capped Value of $12.271 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, 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.
Accelerated Return Notes®
TS-4
https://www.sec.gov/Archives/edgar/data/9631/000091412120001611/bn54962805-424b2.htm
6/27

4/28/2020
https://www.sec.gov/Archives/edgar/data/9631/000091412120001611/bn54962805-424b2.htm
Accelerated Return Notes®

Linked to the Russel 2000® Index, due June 25, 2021
Percentage Change from the
Starting Value to the Ending
Redemption Amount per
Total Rate of Return on the
Ending Value

Value

Unit

Notes
0.00

-100.00%

$0.000

-100.00%
50.00

-50.00%

$5.000

-50.00%
80.00

-20.00%

$8.000

-20.00%
90.00

-10.00%

$9.000

-10.00%
94.00

-6.00%

$9.400

-6.00%
97.00

-3.00%

$9.700

-3.00%
100.00(1)

0.00%

$10.000

0.00%
102.00

2.00%

$10.600

6.00%
105.00

5.00%

$11.500

15.00%
107.57

7.57%

$12.271(2)

22.71%
110.00

10.00%

$12.271

22.71%
120.00

20.00%

$12.271

22.71%
130.00

30.00%

$12.271

22.71%
140.00

40.00%

$12.271

22.71%
150.00

50.00%

$12.271

22.71%
160.00

60.00%

$12.271

22.71%
(1)
The hypothetical Starting Value of 100 used in these examples has been chosen for il ustrative purposes only. The
actual Starting Value is 1,214.065, which was the closing level of the Market Measure on the pricing date.
(2)
The Redemption Amount per unit cannot exceed the Capped Value.
Accelerated Return Notes®
TS-5
https://www.sec.gov/Archives/edgar/data/9631/000091412120001611/bn54962805-424b2.htm
7/27

4/28/2020
https://www.sec.gov/Archives/edgar/data/9631/000091412120001611/bn54962805-424b2.htm
Accelerated Return Notes®

Linked to the Russel 2000® Index, due June 25, 2021
Redemption Amount Calculation Examples
Example 1
The Ending Value is 80.00, or 80.00% of the Starting Value:
Starting Value: 100.00
Ending Value: 80.00
= $8.00 Redemption Amount per unit
Example 2
The Ending Value is 102.00, or 102.00% of the Starting Value:
Starting Value: 100.00
Ending Value: 102.00
= $10.60 Redemption Amount per unit
Example 3
The Ending Value is 130.00, or 130.00% of the Starting Value:
Starting Value: 100.00
Ending Value: 130.00
= $19.00, however, because the Redemption Amount for the notes cannot
exceed the Capped Value, the Redemption Amount will be $12.271 per unit
Accelerated Return Notes®
TS-6
https://www.sec.gov/Archives/edgar/data/9631/000091412120001611/bn54962805-424b2.htm
8/27

4/28/2020
https://www.sec.gov/Archives/edgar/data/9631/000091412120001611/bn54962805-424b2.htm
Accelerated Return Notes®

Linked to the Russel 2000® Index, due June 25, 2021
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-6 of product prospectus supplement EQUITY INDICES
ARN-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.
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.
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 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-14.
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
https://www.sec.gov/Archives/edgar/data/9631/000091412120001611/bn54962805-424b2.htm
9/27

4/28/2020
https://www.sec.gov/Archives/edgar/data/9631/000091412120001611/bn54962805-424b2.htm
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 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, 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.
Accelerated Return Notes®
TS-7
https://www.sec.gov/Archives/edgar/data/9631/000091412120001611/bn54962805-424b2.htm
10/27