Filed Pursuant to Rule 424(b)(2)
Registration No. 333-282565
The Bank of Nova Scotia
$450,000 Autocallable Trigger Notes
Linked to the Least Performing of the Nasdaq-100 Index® and the Russell 2000® Index
Due December 24, 2026
The notes do not bear interest.
The notes will mature on the maturity date (December 24, 2026) unless they are automatically called on the call observation date (December 19, 2025). Your notes will be automatically called on the call observation date if the closing level of each of the Nasdaq-100 Index® and the Russell 2000® Index (each, a “reference asset”) is greater than or equal to its initial level (21,110.51 with respect to the Nasdaq-100 Index® and 2,221.498 with respect to the Russell 2000® Index (which in each case is the closing level of such reference asset on the trade date (December 19, 2024))). If your notes are automatically called, you will receive a payment for each $1,000 principal amount of your notes on the call payment date (December 24, 2025) equal to (i) $1,000 plus (ii) the product of $1,000 times the call premium amount of 8.25%.
If your notes are not automatically called, the amount that you will be paid on your notes at maturity will be based on the performance of the least performing reference asset, which is the reference asset with the lowest reference asset return. The reference asset return of each reference asset is the percentage increase or decrease from its initial level to its final level, which will be its closing level on the valuation date (December 21, 2026).
If the final level of each reference asset on the valuation date is greater than its initial level, the return on your notes will be positive and will equal the participation rate of 250.00% times the least performing reference asset return. If the final level of any reference asset is equal to or less than its initial level, but the final level of each reference asset is greater than or equal to 75.00% of its initial level, you will receive the principal amount of your notes. If the final level of any reference asset is less than 75.00% of its initial level, the return on your notes will be negative and will equal the least performing reference asset return. Specifically, you will lose 1% for every 1% that the final level of the least performing reference asset is less than its initial level, and you could lose up to your entire investment in the notes. Any payment on your notes is subject to the creditworthiness of The Bank of Nova Scotia.
If your notes are not automatically called on the call observation date, at maturity, for each $1,000 principal amount of your notes, you will receive an amount in cash equal to:
●if the final level of each reference asset is greater than its initial level, the sum of (i) $1,000 plus (ii) the product of (a) $1,000 times (b) the least performing reference asset return times (c) the participation rate;
●if the final level of any reference asset is equal to or less than its initial level, but the final level of each reference asset is greater than or equal to 75% of its initial level, $1,000; or
●if the final level of any reference asset is less than 75% of its initial level, the sum of (i) $1,000 plus (ii) the product of (a) $1,000 times (b) the least performing reference asset return. You will receive less than 75.00% of the principal amount of your notes and could lose up to your entire investment in the notes.
Investment in the notes involves certain risks. You should refer to “Additional Risks” beginning on page P-15 of this pricing supplement and “Additional Risk Factors Specific to the Notes” beginning on page PS-6 of the accompanying product supplement and “Risk Factors” beginning on page S-2 of the accompanying prospectus supplement and on page 8 of the accompanying prospectus.
The initial estimated value of your notes at the time the terms of your notes were set on the trade date was $934.00 per $1,000 principal amount, which is less than the original issue price of your notes listed below. See “Additional Information Regarding Estimated Value of the Notes” on the following page and “Additional Risks” beginning on page P-15 of this document for additional information. The actual value of your notes at any time will reflect many factors and cannot be predicted with accuracy.
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Per Note
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Total1
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Original Issue Price
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100.00%
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$450,000.00
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Underwriting commissions1
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2.55%
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$11,475.00
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Proceeds to The Bank of Nova Scotia1
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97.45%
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$438,525.00
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1 For additional information, see “Supplemental Plan of Distribution (Conflicts of Interest)” herein.
Neither the United States Securities and Exchange Commission (the “SEC”) nor any state securities commission has approved or disapproved of the notes or passed upon the accuracy or the adequacy of this pricing supplement, the accompanying prospectus, prospectus supplement, underlier supplement or product supplement. Any representation to the contrary is a criminal offense.
The notes are not insured by the Canada Deposit Insurance Corporation (the “CDIC”) pursuant to the Canada Deposit Insurance Corporation Act (the “CDIC Act”) or the U.S. Federal Deposit Insurance Corporation or any other government agency of Canada, the United States or any other jurisdiction.
Scotia Capital (USA) Inc. Goldman Sachs & Co. LLC
Dealer
Pricing Supplement dated December 19, 2024