Form FWP - Filing under Securities Act Rules 163/433 of free writing prospectuses
January 25 2024 - 1:21PM
Edgar (US Regulatory)
Filed Pursuant to Rule 433
Registration Statement No. 333-261476
ACCELERATED RETURN NOTES® (ARNs®)
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ARNs® Linked to the Invesco S&P 500® Equal Weight ETF
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Issuer
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The Bank of Nova Scotia (“BNS”)
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Principal
Amount
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$10.00 per unit
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Term
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Approximately 14 months
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Market
Measure
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The Invesco S&P 500® Equal Weight ETF (Bloomberg symbol: “RSP”)
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Payout Profile
at Maturity
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• 3-to-1 leveraged upside
exposure to increases in the Market Measure, subject to the Capped Value
• 1-to-1 downside exposure
to decreases in the Market Measure, with up to 100.00% of your principal at risk
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Capped Value
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[$11.025 to $11.425] per unit, a [10.25% to 14.25%] return over the principal amount, to be determined on the pricing date
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Investment
Considerations
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This investment is designed for investors who anticipate that the Market Measure will increase moderately over the term of the notes, and are willing to accept a capped return, take full
downside risk and forgo interim interest payments.
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Preliminary
Offering
Documents
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Exchange Listing
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No
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You should read the relevant Preliminary Offering Documents before you invest. Click on the Preliminary Offering Documents hyperlink above or
call your Financial Advisor for a hard copy.
Risk Factors
Please see the Preliminary Offering Documents for a description of certain risks related to this investment, including, but not limited to, the following:
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Depending on the performance of the Market Measure as measured shortly before the maturity date, your investment may result in a loss; there is no guaranteed return of principal.
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Payments on the notes are subject to the credit risk of BNS, and actual or perceived changes in the creditworthiness of BNS are expected to affect the value of the notes. If BNS becomes insolvent or is unable to
pay its obligations, you may lose your entire investment.
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Your investment return is limited to the return represented by the Capped Value and may be less than a comparable investment directly in the Market Measure or the securities held by the Market Measure.
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The initial estimated value of the notes on the pricing date will be less than their public offering price.
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If you attempt to sell the notes prior to maturity, their market value may be lower than both the public offering price and the initial estimated value of the notes on the pricing date.
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You will have no rights of a holder of the Market Measure or the securities held by the Market Measure, and you will not be entitled to receive any shares of the Market Measure or the securities held by the
Market Measure, or any dividends or other distributions in respect of the Market Measure or the securities held by the Market Measure.
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There are liquidity and management risks associated with the Market Measure.
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The performance of the Market Measure may not correlate with the performance of its underlying index as well as the net asset value per share of the Market Measure, especially during periods of market volatility
when the liquidity and the market price of the shares of the Market Measure and/or the securities held by the Market Measure may be adversely affected, sometimes materially.
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Payments on the notes will not be adjusted for all corporate events that could affect the Market Measure.
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Final terms will be set on the pricing date within the given range for the specified Market-Linked Investment. Please see the Preliminary Offering Documents for complete product disclosure, including
related risks and tax disclosure.
The graph above and the table below reflect the hypothetical return on the notes, based on the terms contained in the table to the left (using the mid-point for any range(s)).
The graph and table have been prepared for purposes of illustration only and do not take into account any tax consequences from investing in the notes.
Hypothetical Percentage Change from
the Starting Value to the Ending Value
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Hypothetical Redemption
Amount per Unit
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Hypothetical Total Rate of
Return on the Notes
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-100.00%
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$0.000
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-100.00%
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-75.00%
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$2.500
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-75.00%
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-50.00%
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$5.000
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-50.00%
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-40.00%
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$6.000
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-40.00%
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-30.00%
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$7.000
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-30.00%
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-20.00%
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$8.000
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-20.00%
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-10.00%
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$9.000
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-10.00%
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-5.00%
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$9.500
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-5.00%
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0.00%
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$10.000
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0.00%
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2.00%
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$10.600
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6.00%
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4.00%
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$11.200
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12.00%
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4.09%
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$11.225(1)
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12.25%
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10.00%
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$11.225
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12.25%
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20.00%
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$11.225
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12.25%
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30.00%
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$11.225
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12.25%
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40.00%
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$11.225
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12.25%
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50.00%
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$11.225
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12.25%
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(1)
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The Redemption Amount per unit cannot exceed the hypothetical Capped Value.
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The Bank of Nova Scotia (“BNS”) has
filed a registration statement (which includes a prospectus) with the U.S. Securities and Exchange Commission (SEC) for the notes that are described in this Guidebook. Before you invest, you should carefully read the prospectus in that registration
statement and other documents that BNS has filed with the SEC for more complete information about BNS and any offering described in this Guidebook. You may obtain these documents without cost by visiting EDGAR on the SEC Website at www.sec.gov. BNS’s Central Index Key, or CIK, on the SEC website is 9631. Alternatively, Merrill Lynch will arrange to send you the
prospectus and other documents relating to any offering described in this document if you so request by calling toll-free 1-800-294-1322. BNS faces risks that are specific to its business, and we encourage you to carefully consider these risks
before making an investment in its securities.
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