<SEC-DOCUMENT>0001839882-25-069255.txt : 20251202
<SEC-HEADER>0001839882-25-069255.hdr.sgml : 20251202
<ACCEPTANCE-DATETIME>20251202123135
ACCESSION NUMBER:		0001839882-25-069255
CONFORMED SUBMISSION TYPE:	FWP
PUBLIC DOCUMENT COUNT:		1
FILED AS OF DATE:		20251202
DATE AS OF CHANGE:		20251202

SUBJECT COMPANY:	

	COMPANY DATA:	
		COMPANY CONFORMED NAME:			BANK OF NOVA SCOTIA
		CENTRAL INDEX KEY:			0000009631
		STANDARD INDUSTRIAL CLASSIFICATION:	STATE COMMERCIAL BANKS [6022]
		ORGANIZATION NAME:           	02 Finance
		EIN:				134941099
		STATE OF INCORPORATION:			Z4
		FISCAL YEAR END:			1031

	FILING VALUES:
		FORM TYPE:		FWP
		SEC ACT:		1934 Act
		SEC FILE NUMBER:	333-282565
		FILM NUMBER:		251542254

	BUSINESS ADDRESS:	
		STREET 1:		40 TEMPERANCE STREET
		CITY:			TORONTO
		STATE:			A6
		ZIP:			M5H 0B4
		BUSINESS PHONE:		(416) 866-3672

	MAIL ADDRESS:	
		STREET 1:		40 TEMPERANCE STREET
		CITY:			TORONTO
		STATE:			A6
		ZIP:			M5H 0B4

	FORMER COMPANY:	
		FORMER CONFORMED NAME:	BANK OF NOVA SCOTIA /
		DATE OF NAME CHANGE:	19970702

FILED BY:		

	COMPANY DATA:	
		COMPANY CONFORMED NAME:			BANK OF NOVA SCOTIA
		CENTRAL INDEX KEY:			0000009631
		STANDARD INDUSTRIAL CLASSIFICATION:	STATE COMMERCIAL BANKS [6022]
		ORGANIZATION NAME:           	02 Finance
		EIN:				134941099
		STATE OF INCORPORATION:			Z4
		FISCAL YEAR END:			1031

	FILING VALUES:
		FORM TYPE:		FWP

	BUSINESS ADDRESS:	
		STREET 1:		40 TEMPERANCE STREET
		CITY:			TORONTO
		STATE:			A6
		ZIP:			M5H 0B4
		BUSINESS PHONE:		(416) 866-3672

	MAIL ADDRESS:	
		STREET 1:		40 TEMPERANCE STREET
		CITY:			TORONTO
		STATE:			A6
		ZIP:			M5H 0B4

	FORMER COMPANY:	
		FORMER CONFORMED NAME:	BANK OF NOVA SCOTIA /
		DATE OF NAME CHANGE:	19970702
</SEC-HEADER>
<DOCUMENT>
<TYPE>FWP
<SEQUENCE>1
<FILENAME>bns_fwp-39543.htm
<DESCRIPTION>FORM FWP
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                <P STYLE="text-align: right; font: bold 10pt Arial, Helvetica, Sans-Serif">Filed Pursuant to Rule 433<BR>
Registration Statement No. 333-282565</p>
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                            <P style="margin-top: 0; margin-bottom: 0; "><FONT style="font-family: Arial, sans-serif; color: #012169; font-size: 14.0pt; "><font style='white-space: pre-wrap;'>AUTOCALLABLE STRATEGIC ACCELERATED REDEMPTION SECURITIES</font></FONT><FONT style="font-family: Arial, sans-serif; color: #012169; font-size: 12pt; vertical-align: super; "><font style='white-space: pre-wrap;'>&#174;</font></FONT><FONT style="font-family: Arial, sans-serif; color: #012169; font-size: 14.0pt; "><font style='white-space: pre-wrap;'> </font></FONT></P>
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                <P style="margin-top: 0; margin-bottom: 0; "><FONT style="font-family: Arial, sans-serif; ">&nbsp;</FONT></P>
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                        <TD colspan="2" style="padding-top: 0.0pt; padding-left: 5.94pt; padding-right: 5.94pt; padding-bottom: 0.0pt; border-top:  0.75pt solid #FFFFFF; border-left:  0.75pt solid #FFFFFF; border-right:  0.75pt solid #FFFFFF; background-color: #F2F2F2; ">
                            <P style="margin-top: 0; margin-bottom: 0; "><FONT style="font-family: Arial, sans-serif; color: #012169; "><font style='white-space: pre-wrap;'>Autocallable</font></FONT><FONT style="font-family: Arial, sans-serif; font-size: 8.0pt; "></FONT><FONT style="font-family: Arial, sans-serif; color: #012169; "><font style='white-space: pre-wrap;'> Strategic Accelerated Redemption Securities</font></FONT><FONT style="font-family: Arial, sans-serif; color: #012169; vertical-align: super; font-size: 10pt; "><font style='white-space: pre-wrap;'>&#174;</font></FONT><FONT style="font-family: Arial, sans-serif; color: #012169; "><font style='white-space: pre-wrap;'> Linked to the Global X Uranium ETF</font></FONT></P>
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                        <TD style="padding-top: 0.0pt; padding-left: 5.94pt; padding-right: 5.94pt; padding-bottom: 0.0pt; border-top:  0.75pt solid #FFFFFF; border-bottom:  0.75pt solid #FFFFFF; border-left:  0.75pt solid #FFFFFF; border-right:  0.75pt solid #FFFFFF; background-color: #F2F2F2; ">
                            <P style="margin-top: 0; margin-bottom: 0; "><FONT style="font-family: Arial, sans-serif; font-weight: bold; font-size: 7.5pt; "><font style='white-space: pre-wrap;'>Issuer</font></FONT></P>
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                            <P style="margin-top: 0; margin-bottom: 0; "><FONT style="font-family: Arial, sans-serif; font-size: 7.5pt; "><font style='white-space: pre-wrap;'>The Bank of Nova Scotia (&#8220;BNS&#8221;)</font></FONT></P>
                        </TD>
                    </TR>
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                        <TD style="padding-top: 0.0pt; padding-left: 5.94pt; padding-right: 5.94pt; padding-bottom: 0.0pt; border-top:  0.75pt solid #FFFFFF; border-bottom:  0.75pt solid #FFFFFF; border-left:  0.75pt solid #FFFFFF; border-right:  0.75pt solid #FFFFFF; background-color: #F2F2F2; ">
                            <P style="margin-top: 0; margin-bottom: 0; "><FONT style="font-family: Arial, sans-serif; font-weight: bold; font-size: 7.5pt; "><font style='white-space: pre-wrap;'>Principal Amount</font></FONT></P>
                        </TD>
                        <TD style="padding-top: 0.0pt; padding-left: 5.94pt; padding-right: 5.94pt; padding-bottom: 0.0pt; border-top:  0.75pt solid #FFFFFF; border-bottom:  0.75pt solid #FFFFFF; border-right:  0.75pt solid #FFFFFF; border-left:  0.75pt solid #FFFFFF; background-color: #F2F2F2; vertical-align: middle; ">
                            <P style="margin-top: 0; margin-bottom: 0; "><FONT style="font-family: Arial, sans-serif; font-size: 7.5pt; "><font style='white-space: pre-wrap;'>$10.00 per unit</font></FONT></P>
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                            <P style="margin-top: 0; margin-bottom: 0; "><FONT style="font-family: Arial, sans-serif; font-weight: bold; font-size: 7.5pt; "><font style='white-space: pre-wrap;'>Term</font></FONT></P>
                        </TD>
                        <TD style="padding-top: 0.0pt; padding-left: 5.94pt; padding-right: 5.94pt; padding-bottom: 0.0pt; border-top:  0.75pt solid #FFFFFF; border-bottom:  0.75pt solid #FFFFFF; border-right:  0.75pt solid #FFFFFF; border-left:  0.75pt solid #FFFFFF; background-color: #F2F2F2; vertical-align: middle; ">
                            <P style="margin-top: 0; margin-bottom: 0; "><FONT style="font-family: Arial, sans-serif; font-size: 7.5pt; "><font style='white-space: pre-wrap;'>Approximately five years, if not called earlier</font></FONT></P>
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                            <P style="margin-top: 0; margin-bottom: 0; "><FONT style="font-family: Arial, sans-serif; font-weight: bold; font-size: 7.5pt; "><font style='white-space: pre-wrap;'>Market Measure</font></FONT></P>
                        </TD>
                        <TD style="padding-top: 0.0pt; padding-left: 5.94pt; padding-right: 5.94pt; padding-bottom: 0.0pt; border-top:  0.75pt solid #FFFFFF; border-bottom:  0.75pt solid #FFFFFF; border-right:  0.75pt solid #FFFFFF; border-left:  0.75pt solid #FFFFFF; background-color: #F2F2F2; vertical-align: middle; ">
                            <P style="margin-top: 0; margin-bottom: 0; "><FONT style="font-family: Arial, sans-serif; font-size: 7.5pt; "><font style='white-space: pre-wrap;'>The Global X Uranium ETF (Bloomberg symbol: &#8220;URA&#8221;)</font></FONT></P>
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                            <P style="margin-top: 0; margin-bottom: 0; "><FONT style="font-family: Arial, sans-serif; font-weight: bold; font-size: 7.5pt; "><font style='white-space: pre-wrap;'>Automatic Call</font></FONT></P>
                        </TD>
                        <TD style="padding-top: 0.0pt; padding-left: 5.94pt; padding-right: 5.94pt; padding-bottom: 0.0pt; border-top:  0.75pt solid #FFFFFF; border-bottom:  0.75pt solid #FFFFFF; border-right:  0.75pt solid #FFFFFF; border-left:  0.75pt solid #FFFFFF; background-color: #F2F2F2; ">
                            <P style="text-align: justify; margin-top: 0; margin-bottom: 0; "><FONT style="font-family: Arial, sans-serif; font-size: 7.5pt; "><font style='white-space: pre-wrap;'>The notes will be called automatically if the Observation Level of the Market Measure on any of the Observation Dates is equal to or greater than the Call Level</font></FONT></P>
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                        <TD style="padding-top: 0.0pt; padding-left: 5.94pt; padding-right: 5.94pt; padding-bottom: 0.0pt; border-top:  0.75pt solid #FFFFFF; border-bottom:  0.75pt solid #FFFFFF; border-left:  0.75pt solid #FFFFFF; border-right:  0.75pt solid #FFFFFF; background-color: #F2F2F2; ">
                            <P style="margin-top: 0; margin-bottom: 0; "><FONT style="font-family: Arial, sans-serif; font-weight: bold; font-size: 7.5pt; "><font style='white-space: pre-wrap;'>Observation Level</font></FONT></P>
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                        <TD style="padding-top: 0.0pt; padding-left: 5.94pt; padding-right: 5.94pt; padding-bottom: 0.0pt; border-top:  0.75pt solid #FFFFFF; border-bottom:  0.75pt solid #FFFFFF; border-right:  0.75pt solid #FFFFFF; border-left:  0.75pt solid #FFFFFF; background-color: #F2F2F2; ">
                            <P style="margin-top: 0; margin-bottom: 0; "><FONT style="font-family: Arial, sans-serif; font-size: 7.5pt; "><font style='white-space: pre-wrap;'>The Closing Market Price of the Market Measure on any Observation Date</font></FONT></P>
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                        <TD style="padding-top: 0.0pt; padding-left: 5.94pt; padding-right: 5.94pt; padding-bottom: 0.0pt; border-top:  0.75pt solid #FFFFFF; border-bottom:  0.75pt solid #FFFFFF; border-left:  0.75pt solid #FFFFFF; border-right:  0.75pt solid #FFFFFF; background-color: #F2F2F2; ">
                            <P style="margin-top: 0; margin-bottom: 0; "><FONT style="font-family: Arial, sans-serif; font-weight: bold; font-size: 7.5pt; "><font style='white-space: pre-wrap;'>Observation Dates</font></FONT></P>
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                        <TD style="padding-top: 0.0pt; padding-left: 5.94pt; padding-right: 5.94pt; padding-bottom: 0.0pt; border-top:  0.75pt solid #FFFFFF; border-bottom:  0.75pt solid #FFFFFF; border-right:  0.75pt solid #FFFFFF; border-left:  0.75pt solid #FFFFFF; background-color: #F2F2F2; ">
                            <P style="text-align: justify; margin-top: 0; margin-bottom: 0; "><FONT style="font-family: Arial, sans-serif; font-size: 7.5pt; "><font style='white-space: pre-wrap;'>Approximately one, two, three, four and five years from the pricing date</font></FONT></P>
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                            <P style="margin-top: 0; margin-bottom: 0; "><FONT style="font-family: Arial, sans-serif; font-weight: bold; font-size: 7.5pt; "><font style='white-space: pre-wrap;'>Call Level</font></FONT></P>
                        </TD>
                        <TD style="padding-top: 0.0pt; padding-left: 5.94pt; padding-right: 5.94pt; padding-bottom: 0.0pt; border-top:  0.75pt solid #FFFFFF; border-bottom:  0.75pt solid #FFFFFF; border-right:  0.75pt solid #FFFFFF; border-left:  0.75pt solid #FFFFFF; background-color: #F2F2F2; ">
                            <P style="text-align: justify; margin-top: 0; margin-bottom: 0; "><FONT style="font-family: Arial, sans-serif; font-size: 7.5pt; "><font style='white-space: pre-wrap;'>100.00% of the Starting Value</font></FONT></P>
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                        <TD style="padding-top: 0.0pt; padding-left: 5.94pt; padding-right: 5.94pt; padding-bottom: 0.0pt; border-top:  0.75pt solid #FFFFFF; border-bottom:  0.75pt solid #FFFFFF; border-left:  0.75pt solid #FFFFFF; border-right:  0.75pt solid #FFFFFF; background-color: #F2F2F2; ">
                            <P style="margin-top: 0; margin-bottom: 0; "><FONT style="font-family: Arial, sans-serif; font-weight: bold; font-size: 7.5pt; "><font style='white-space: pre-wrap;'>Call Amounts</font></FONT></P>
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                        <TD style="padding-top: 0.0pt; padding-left: 5.94pt; padding-right: 5.94pt; padding-bottom: 0.0pt; border-top:  0.75pt solid #FFFFFF; border-bottom:  0.75pt solid #FFFFFF; border-right:  0.75pt solid #FFFFFF; border-left:  0.75pt solid #FFFFFF; background-color: #F2F2F2; ">
                            <P style="text-align: justify; margin-top: 0; margin-bottom: 0; "><FONT style="font-family: Arial, sans-serif; font-size: 7.5pt; "><font style='white-space: pre-wrap;'>[$11.05 to $11.15] if called on the first Observation Date, [$12.10 to $12.30] if called on the second Observation Date, [$13.15 to $13.45] if called on the third Observation Date, [$14.20 to $14.60] if called on the fourth Observation Date and [$15.25 to $15.75] if called on the final Observation Date, each to be determined on the pricing date</font></FONT></P>
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                            <P style="margin-top: 0; margin-bottom: 0; "><FONT style="font-family: Arial, sans-serif; font-weight: bold; font-size: 7.5pt; "><font style='white-space: pre-wrap;'>Payout Profile at Maturity</font></FONT></P>
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                        <TD style="padding-top: 0.0pt; padding-left: 5.94pt; padding-right: 5.94pt; padding-bottom: 0.0pt; border-top:  0.75pt solid #FFFFFF; border-bottom:  0.75pt solid #FFFFFF; border-right:  0.75pt solid #FFFFFF; border-left:  0.75pt solid #FFFFFF; background-color: #F2F2F2; ">
                            <P style="margin-top: 0; margin-bottom: 0; "><FONT style="font-family: Arial, sans-serif; font-size: 7.5pt; "><font style='white-space: pre-wrap;'>If the notes are not called, 1-to-1 downside exposure to decreases in the Market Measure beyond a 15.00% decline, with up to 85.00% of your principal amount at risk</font></FONT></P>
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                        <TD style="padding-top: 0.0pt; padding-left: 5.94pt; padding-right: 5.94pt; padding-bottom: 0.0pt; border-top:  0.75pt solid #FFFFFF; border-bottom:  0.75pt solid #FFFFFF; border-left:  0.75pt solid #FFFFFF; border-right:  0.75pt solid #FFFFFF; background-color: #F2F2F2; ">
                            <P style="margin-top: 0; margin-bottom: 0; "><FONT style="font-family: Arial, sans-serif; font-weight: bold; font-size: 7.5pt; "><font style='white-space: pre-wrap;'>Threshold Value</font></FONT></P>
                        </TD>
                        <TD style="padding-top: 0.0pt; padding-left: 5.94pt; padding-right: 5.94pt; padding-bottom: 0.0pt; border-top:  0.75pt solid #FFFFFF; border-bottom:  0.75pt solid #FFFFFF; border-right:  0.75pt solid #FFFFFF; border-left:  0.75pt solid #FFFFFF; background-color: #F2F2F2; ">
                            <P style="text-align: justify; margin-top: 0; margin-bottom: 0; "><FONT style="font-family: Arial, sans-serif; font-size: 7.5pt; "><font style='white-space: pre-wrap;'>85.00% of the Starting Value</font></FONT></P>
                        </TD>
                    </TR>
                    <TR style="vertical-align: top; ">
                        <TD style="padding-top: 0.0pt; padding-left: 5.94pt; padding-right: 5.94pt; padding-bottom: 0.0pt; border-top:  0.75pt solid #FFFFFF; border-bottom:  0.75pt solid #FFFFFF; border-left:  0.75pt solid #FFFFFF; border-right:  0.75pt solid #FFFFFF; background-color: #F2F2F2; ">
                            <P style="margin-top: 0; margin-bottom: 0; "><FONT style="font-family: Arial, sans-serif; font-weight: bold; font-size: 7.5pt; "><font style='white-space: pre-wrap;'>Investment Considerations</font></FONT></P>
                        </TD>
                        <TD style="padding-top: 0.0pt; padding-left: 5.94pt; padding-right: 5.94pt; padding-bottom: 0.0pt; border-top:  0.75pt solid #FFFFFF; border-bottom:  0.75pt solid #FFFFFF; border-right:  0.75pt solid #FFFFFF; border-left:  0.75pt solid #FFFFFF; background-color: #F2F2F2; vertical-align: middle; ">
                            <P style="text-align: justify; margin-top: 0; margin-bottom: 0; "><FONT style="font-family: Arial, sans-serif; font-size: 7.5pt; "><font style='white-space: pre-wrap;'>This investment is designed for investors who anticipate that the Observation Level of the Market Measure on at least one of the Observation Dates will be equal to or greater than the Call Level and, in that case, are willing to have their notes called. This investment is also designed for investors who are willing to accept that their return on their investment will be capped at the applicable Call Premium, take downside risk below a threshold and forgo interim interest payments.</font></FONT></P>
                        </TD>
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                            <P style="margin-top: 0; margin-bottom: 0; "><FONT style="font-family: Arial, sans-serif; font-weight: bold; font-size: 7.5pt; "><font style='white-space: pre-wrap;'>Preliminary Offering Documents</font></FONT></P>
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                        <TD style="padding-top: 0.0pt; padding-left: 5.94pt; padding-right: 5.94pt; padding-bottom: 0.0pt; border-top:  0.75pt solid #FFFFFF; border-bottom:  0.75pt solid #FFFFFF; border-right:  0.75pt solid #FFFFFF; border-left:  0.75pt solid #FFFFFF; background-color: #F2F2F2; vertical-align: middle; ">
                            <P style="margin-top: 0; margin-bottom: 0; "><FONT style="font-family: Arial, sans-serif; font-size: 7.5pt; "><font style='white-space: pre-wrap;'><A HREF="http://www.sec.gov/Archives/edgar/data/9631/000183988225069231/bns_fwp-39542.htm">http://www.sec.gov/Archives/edgar/data/9631/000183988225069231/bns_fwp-39542.htm</A></font></FONT></P>
                        </TD>
                    </TR>
                    <TR style="vertical-align: top; ">
                        <TD style="padding-top: 0.0pt; padding-left: 5.94pt; padding-right: 5.94pt; padding-bottom: 0.0pt; border-top:  0.75pt solid #FFFFFF; border-bottom:  0.75pt solid #FFFFFF; border-left:  0.75pt solid #FFFFFF; border-right:  0.75pt solid #FFFFFF; background-color: #F2F2F2; ">
                            <P style="margin-top: 0; margin-bottom: 0; "><FONT style="font-family: Arial, sans-serif; font-weight: bold; font-size: 7.5pt; "><font style='white-space: pre-wrap;'>Exchange Listing</font></FONT></P>
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                            <P style="margin-top: 0; margin-bottom: 0; "><FONT style="font-family: Arial, sans-serif; font-size: 7.5pt; "><font style='white-space: pre-wrap;'>No</font></FONT></P>
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                        <TD colspan="2" style="padding-top: 0.0pt; padding-left: 5.94pt; padding-right: 5.94pt; padding-bottom: 0.0pt; border-bottom:  0.75pt solid #FFFFFF; border-left:  0.75pt solid #FFFFFF; border-right:  0.75pt solid #FFFFFF; ">
                            <P style="margin-top: 2.2pt; text-align: justify; margin-bottom: 0; "><FONT style="font-family: Arial, sans-serif; font-weight: bold; font-style: italic; font-size: 7.5pt; "><font style='white-space: pre-wrap;'>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.</font></FONT></P>
                            <P style="margin-top: 2.2pt; text-align: justify; margin-bottom: 0; "><FONT style="font-family: Arial, sans-serif; font-weight: bold; font-size: 7.5pt; text-decoration-style: solid; text-decoration-line: underline; "><U><font style='white-space: pre-wrap;'>Risk Factors</font></U></FONT></P>
                            <P style="margin-top: 2.2pt; text-align: justify; margin-bottom: 0; "><FONT style="font-family: Arial, sans-serif; font-size: 7.5pt; "><font style='white-space: pre-wrap;'>Please see the Preliminary Offering Documents for a description of certain risks related to this investment, including, but not limited to, the following:</font></FONT></P>
                            <P style="text-align: justify; margin-top: 0; margin-bottom: 1.5pt; margin-left: 19.80pt; text-indent: -19.80pt; "><!--[if IE]<FONT style="display: inline-block; width: 19.80pt; text-indent: -19.80pt; "><![endif]--><FONT style="display: inline-block; width: 19.80pt; text-indent: 0; text-align: left; font-size: 7.5pt; ">&#9679;</FONT><!--[if IE]</FONT><![endif]--><FONT><FONT style="font-family: Arial, sans-serif; font-size: 7.5pt; "><font style='white-space: pre-wrap;'>If your notes are not called, depending on the performance of the Underlying Fund as measured shortly before the maturity date, your investment may result in a loss; there is no guaranteed return of principal.</font></FONT></FONT></P>
                            <P style="text-align: justify; margin-top: 1.5pt; margin-bottom: 1.5pt; margin-left: 19.80pt; text-indent: -19.80pt; "><!--[if IE]<FONT style="display: inline-block; width: 19.80pt; text-indent: -19.80pt; "><![endif]--><FONT style="display: inline-block; width: 19.80pt; text-indent: 0; text-align: left; font-size: 7.5pt; ">&#9679;</FONT><!--[if IE]</FONT><![endif]--><FONT><FONT style="font-family: Arial, sans-serif; font-size: 7.5pt; "><font style='white-space: pre-wrap;'>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.</font></FONT></FONT></P>
                            <P style="text-align: justify; margin-top: 1.5pt; margin-bottom: 1.5pt; margin-left: 19.80pt; text-indent: -19.80pt; "><!--[if IE]<FONT style="display: inline-block; width: 19.80pt; text-indent: -19.80pt; "><![endif]--><FONT style="display: inline-block; width: 19.80pt; text-indent: 0; text-align: left; font-size: 7.5pt; ">&#9679;</FONT><!--[if IE]</FONT><![endif]--><FONT><FONT style="font-family: Arial, sans-serif; font-size: 7.5pt; "><font style='white-space: pre-wrap;'>The initial estimated value of the notes on the pricing date will be less than their public offering price.</font></FONT></FONT></P>
                            <P style="text-align: justify; margin-top: 1.5pt; margin-bottom: 1.5pt; margin-left: 19.80pt; text-indent: -19.80pt; "><!--[if IE]<FONT style="display: inline-block; width: 19.80pt; text-indent: -19.80pt; "><![endif]--><FONT style="display: inline-block; width: 19.80pt; text-indent: 0; text-align: left; font-size: 7.5pt; ">&#9679;</FONT><!--[if IE]</FONT><![endif]--><FONT><FONT style="font-family: Arial, sans-serif; font-size: 7.5pt; "><font style='white-space: pre-wrap;'>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.</font></FONT></FONT></P>
                            <P style="text-align: justify; margin-top: 1.5pt; margin-bottom: 1.5pt; margin-left: 19.80pt; text-indent: -19.80pt; "><!--[if IE]<FONT style="display: inline-block; width: 19.80pt; text-indent: -19.80pt; "><![endif]--><FONT style="display: inline-block; width: 19.80pt; text-indent: 0; text-align: left; font-size: 7.5pt; ">&#9679;</FONT><!--[if IE]</FONT><![endif]--><FONT><FONT style="font-family: Arial, sans-serif; font-size: 7.5pt; "><font style='white-space: pre-wrap;'>If called, your return on the notes is limited to the applicable Call Premium.</font></FONT></FONT></P>
                            <P style="text-align: justify; margin-top: 1.5pt; margin-bottom: 1.5pt; margin-left: 19.80pt; text-indent: -19.80pt; "><!--[if IE]<FONT style="display: inline-block; width: 19.80pt; text-indent: -19.80pt; "><![endif]--><FONT style="display: inline-block; width: 19.80pt; text-indent: 0; text-align: left; font-size: 7.5pt; ">&#9679;</FONT><!--[if IE]</FONT><![endif]--><FONT><FONT style="font-family: Arial, sans-serif; font-size: 7.5pt; "><font style='white-space: pre-wrap;'>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.</font></FONT></FONT></P>
                            <P style="text-align: justify; margin-top: 1.5pt; margin-bottom: 1.5pt; margin-left: 19.80pt; text-indent: -19.80pt; "><!--[if IE]<FONT style="display: inline-block; width: 19.80pt; text-indent: -19.80pt; "><![endif]--><FONT style="display: inline-block; width: 19.80pt; text-indent: 0; text-align: left; font-size: 7.5pt; ">&#9679;</FONT><!--[if IE]</FONT><![endif]--><FONT><FONT style="font-family: Arial, sans-serif; font-size: 7.5pt; "><font style='white-space: pre-wrap;'>There are liquidity and management risks associated with the Market Measure.</font></FONT></FONT></P>
                            <P style="text-align: justify; margin-top: 1.5pt; margin-bottom: 1.5pt; margin-left: 19.80pt; text-indent: -19.80pt; "><!--[if IE]<FONT style="display: inline-block; width: 19.80pt; text-indent: -19.80pt; "><![endif]--><FONT style="display: inline-block; width: 19.80pt; text-indent: 0; text-align: left; font-size: 7.5pt; ">&#9679;</FONT><!--[if IE]</FONT><![endif]--><FONT><FONT style="font-family: Arial, sans-serif; font-size: 7.5pt; "><font style='white-space: pre-wrap;'>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.</font></FONT></FONT></P>
                            <P style="text-align: justify; margin-top: 1.5pt; margin-bottom: 1.5pt; margin-left: 19.80pt; text-indent: -19.80pt; "><!--[if IE]<FONT style="display: inline-block; width: 19.80pt; text-indent: -19.80pt; "><![endif]--><FONT style="display: inline-block; width: 19.80pt; text-indent: 0; text-align: left; font-size: 7.5pt; ">&#9679;</FONT><!--[if IE]</FONT><![endif]--><FONT><FONT style="font-family: Arial, sans-serif; font-size: 7.5pt; "><font style='white-space: pre-wrap;'>Payments on the notes will not be adjusted for all corporate events that could affect the Market Measure.</font></FONT></FONT></P>
                            <P style="text-align: justify; margin-top: 1.5pt; margin-bottom: 1.5pt; margin-left: 19.80pt; text-indent: -19.80pt; "><!--[if IE]<FONT style="display: inline-block; width: 19.80pt; text-indent: -19.80pt; "><![endif]--><FONT style="display: inline-block; width: 19.80pt; text-indent: 0; text-align: left; font-size: 7.5pt; ">&#9679;</FONT><!--[if IE]</FONT><![endif]--><FONT><FONT style="font-family: Arial, sans-serif; font-size: 7.5pt; "><font style='white-space: pre-wrap;'>The securities held by the Underlying Fund are concentrated in the uranium sector.</font></FONT></FONT></P>
                            <P style="text-align: justify; margin-top: 1.5pt; margin-bottom: 1.5pt; margin-left: 19.80pt; text-indent: -19.80pt; "><!--[if IE]<FONT style="display: inline-block; width: 19.80pt; text-indent: -19.80pt; "><![endif]--><FONT style="display: inline-block; width: 19.80pt; text-indent: 0; text-align: left; font-size: 7.5pt; ">&#9679;</FONT><!--[if IE]</FONT><![endif]--><FONT><FONT style="font-family: Arial, sans-serif; font-size: 7.5pt; "><font style='white-space: pre-wrap;'>The notes are subject to foreign currency exchange rate risk.</font></FONT></FONT></P>
                            <P style="text-align: justify; margin-top: 1.5pt; margin-bottom: 1.5pt; margin-left: 19.80pt; text-indent: -19.80pt; "><!--[if IE]<FONT style="display: inline-block; width: 19.80pt; text-indent: -19.80pt; "><![endif]--><FONT style="display: inline-block; width: 19.80pt; text-indent: 0; text-align: left; font-size: 7.5pt; ">&#9679;</FONT><!--[if IE]</FONT><![endif]--><FONT><FONT style="font-family: Arial, sans-serif; font-size: 7.5pt; "><font style='white-space: pre-wrap;'>The notes are subject to risks associated with emerging markets.</font></FONT></FONT></P>
                            <P style="text-align: justify; margin-top: 1.5pt; margin-bottom: 0; margin-left: 19.80pt; text-indent: -19.80pt; "><!--[if IE]<FONT style="display: inline-block; width: 19.80pt; text-indent: -19.80pt; "><![endif]--><FONT style="display: inline-block; width: 19.80pt; text-indent: 0; text-align: left; font-size: 7.5pt; ">&#9679;</FONT><!--[if IE]</FONT><![endif]--><FONT><FONT style="font-family: Arial, sans-serif; font-size: 7.5pt; "><font style='white-space: pre-wrap;'>A limited number of securities held by the Underlying Fund may affect its price, and the securities held by the Underlying Fund are not necessarily representative of the uranium industry.</font></FONT></FONT></P>
                            <P style="margin-top: 2.2pt; text-align: justify; margin-bottom: 0; "><FONT style="font-family: Arial, sans-serif; font-style: italic; font-size: 7.5pt; "><font style='white-space: pre-wrap;'>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.</font></FONT></P>
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                <P style="margin-top: 2.2pt; margin-bottom: 0; "><FONT style="font-family: Arial, sans-serif; font-style: italic; font-size: 7.5pt; "><font style='white-space: pre-wrap;'>&nbsp;</font></FONT></P>
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                <P STYLE="margin-top: 2.2pt; text-align: justify; margin-bottom: 0"><FONT STYLE="font-family: Arial, sans-serif; font-size: 7.5pt"><FONT STYLE="white-space: pre-wrap">The Bank of Nova Scotia (&ldquo;BNS&rdquo;) 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&rsquo;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.</font></FONT></P>
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