Devonian Health Group Inc — Capital/Financing Update 2021

Jul 20, 2021

BNS CANADIAN INSURANCE (AR) AUTOCALLABLE NOTES, SERIES 46 (CAD) PRINCIPAL AT RISK NOTES – AUGUST 21, 2028

July 20, 2021

A Bank of Nova Scotia short form base shelf prospectus dated March 11, 2020, a prospectus supplement thereto dated March 11, 2020 and pricing supplement No. 2064 (the "pricing supplement") thereto dated July 20, 2021 (collectively, the "Prospectus") have been filed with the securities regulatory authorities in each of the provinces and territories of Canada. A copy of the Prospectus and any amendments or supplements thereto that have been filed are required to be delivered with this document. The Prospectus and any amendments or supplements thereto contain important information relating to the securities described in this document. This document does not provide full disclosure of all material facts relating to the securities offered and investors should read the Prospectus, and any amendments or supplements thereto, for disclosure of those facts, especially risk factors relating to the securities offered, before making an investment decision. A copy of the short form base shelf prospectus, the prospectus supplement and the pricing supplement can also be obtained at www.sedar.com. Unless the context otherwise requires, terms not otherwise defined herein will have the meaning ascribed thereto in the Prospectus.

	Linked toSolactive Canada Insurance ARIndex	Annual Autocallat 100.00%of the Initial Index Level	PotentialVariable Return		30.00% Contingent PrincipalProtectionat Maturity
KEY TERMS
Issuer:	The Bank of Nova Scotia (the "Bank").
Index*:	Solactive Canada Insurance AR Index (the "Index"). The Index was launched on August 13, 2020.
Autocall:	"Risk Factors" in the pricing supplement.		100.00% of the Initial Index Level. The Notes will be automatically called (i.e., redeemed) by the Bank and a Variable Return will be paid toholders if the Closing Index Level on any Autocall Valuation Date is greater than or equal to the Autocall Level (which is 100.00% of the InitialIndex Level). The Notes cannot be automatically called prior to August 22, 2022. If the Closing Index Level on any Autocall Valuation Date is notgreater than or equal to the Autocall Level, the Notes will not be automatically called by the Bank and the Variable Return will not be paid toholders. Investors should note that in order for the level of the Index to increase, the level of the Target Index must increase by more than 120index points per annum from the Initial Valuation Date to an Autocall Valuation Date, or to the Final Valuation Date, as the case may be. See
Potential			The Variable Return, if any, applicable to each respective Valuation Date will be calculated using the following formula:
Variable Return:			Principal Amount x (Fixed Return + Additional Return)
		applicable Fixed Return, calculated using the formula below:	The Additional Return, if any, is equal to 5.00% of the amount by which the Index Return on the applicable Valuation Date exceeds the
			5.00% x (Index Return – Fixed Return)
	Return will be paid on the Notes.		Investors should note that if the Index Return on the applicable Valuation Date is equal to or less than the applicable Fixed Return, no Additional
	Date will be as follows:		The Fixed Return used in the calculation of the Variable Return, if any, and the calculation of the Additional Return, if any, for each Valuation
		Valuation Date	Fixed Return		Additional Return(if Index Return exceeds Fixed Return)
		2022 Autocall Valuation Date	8.80%		5.00% x (Index Return – 8.80%)
		2023 Autocall Valuation Date	17.60%		5.00% x (Index Return – 17.60%)
		2024 Autocall Valuation Date	26.40%		5.00% x (Index Return – 26.40%)
		2025 Autocall Valuation Date	35.20%		5.00% x (Index Return – 35.20%)
		2026 Autocall Valuation Date	44.00%		5.00% x (Index Return – 44.00%)
		2027 Autocall Valuation Date	52.80%		5.00% x (Index Return – 52.80%)
		Final Valuation Date	61.60%		5.00% x (Index Return – 61.60%)
					The Fixed Return for the 2022 Autocall Valuation Date, the 2023 Autocall Valuation Date, the 2024 Autocall Valuation Date, the 2025 Autocall
		of 8.80%, 8.44%, 8.12%, 7.83%, 7.57%, 7.32% and 7.10%, respectively.	Valuation Date, the 2026 Autocall Valuation Date, the 2027 Autocall Valuation Date and the Final Valuation Date is equal to an annualized return

*The Closing Index Level reflects the gross total return performance of the Target Index as reduced by the Adjusted Return Factor. The Closing Index Level on July 13, 2021 was 2,794.46. The Adjusted Return Factor as a percentage of the Closing Index Level on July 13, 2021 was approximately 4.29%. Investors should note that the foregoing percentage amount is not an estimate or forecast of what any such percentage amount may be over the term of the Notes. The annual dividend yield on the Target Index as of July 13, 2021 was 4.29%, representing an aggregate dividend yield of approximately 34.18% annually compounded over the term of the Notes on the assumption that the dividends paid on the securities comprising the Target Index remain constant.

Fundserv	Available Until	Issue Date	Term to Maturity
SSP2837	August 10, 2021	August 17, 2021	7 years(if not called)

CONTACT INFORMATION www.investorsolutions.gbm.scotiabank.com

Sales and Marketing: 1-866-416-7891

Fundserv Customer Service for Advisors: 1-833-594-3143

The information above must be read in conjunction with the Prospectus.

ADDITIONAL KEY TERMS

Principal Amount:	$100.00 per Note.
MinimumInvestment:	$5,000 (50 Notes).
CUSIP:	06415FA28.
Fundserv Code:	SSP2837.
Initial ValuationDate:	August 17, 2021, provided that if such day is not an Exchange Business Day then the Initial Valuation Date will be the first succeeding daythat is an Exchange Business Day, subject to the occurrence of any special circumstances (see "Special Circumstances" in the pricingsupplement).
Index:	Whether there is a return on the Notes through the Variable Return and whether the Principal Amount is returned at maturity is based onthe performance of the Solactive Canada Insurance AR Index (the "Index"). The Index aims to track the gross total return performance ofthe Solactive Canada Insurance Index TR (the "Target Index"), subject to reduction for a synthetic dividend of 120 index points per annumcalculated daily in arrears at the time the Index is calculated (the "Adjusted Return Factor"). The Target Index is a free-float marketcapitalization weighted index with a 30% weight cap on single securities comprised of eligible issuers assigned to either the "Life/HealthInsurance" or "Multi-Line Insurance" industry, as defined by the industry classification system used by the Index Sponsor, that are listed onthe Toronto Stock Exchange. The Target Index is a gross total return index that reflects the applicable price changes of its constituentsecurities and any dividends and distributions paid in respect of such securities, without deduction of any withholding tax or other amountsto which an investor holding the constituent securities of the Target Index would typically be exposed. For the calculation of the level of theTarget Index, any dividends or other distributions paid on the constituent securities of the Target Index are reinvested across all theconstituent securities of the Target Index.The Index and Target Index were launched on August 13, 2020. Accordingly, there is limited performance history for the Indexand the Target Index to evaluate the prior performance of the Index and Target Index. The level of the Index may be affected bythe volatility of the prices of the equity securities of the issuers comprising the Target Index, which prices may be more volatilethan the equity market generally, meaning that such prices can fluctuate and change considerably in relatively short periods andthe performance of such prices cannot be predicted for any future period and as a result an investment linked to Index levelsmay also be volatile. There is no assurance of the ability of issuers comprising the Target Index to declare and pay dividends ormake distributions in respect of the constituent securities of the Target Index or to sustain or increase such dividends anddistributions at or above historical levels. Prospective investors are urged to consult publicly available sources for the levels of theIndex and the Target Index and the patterns of fluctuations and changes in the levels of the Index and the Target Index and the prices andtrading patterns of the constituent securities of the Target Index before investing in the Notes. See "Risk Factors" in the pricingsupplement.The Notes do not represent a direct or indirect investment in the Index, the Target Index or the constituent securities of the Target Index, andholders will have no right or entitlement to such securities, including voting rights or the right to receive any dividends, distributions or otherincome or amounts accruing or paid thereon. The Closing Index Level reflects the gross total return performance of the Target Index asreduced by the Adjusted Return Factor. The Closing Index Level on July 13, 2021 was 2,794.46. The Adjusted Return Factor as a percentageof the Closing Index Level on July 13, 2021 was approximately 4.29%. Investors should note that the foregoing percentage amount is not anestimate or forecast of what any such percentage amount may be over the term of the Notes. The annual dividend yield on the Target Index asof July 13, 2021 was 4.29%, representing an aggregate dividend yield of approximately 34.18% annually compounded over the approximately7 year term of the Notes on the assumption that the dividends paid on the securities comprising the Target Index remain constant. Investorsshould note that the foregoing dividend yield information is for comparative purposes only and is not an indication of any future dividends that
Valuation Dates,Record Dates and	constituent securities of the Target Index.The specific Valuation Dates, Record Dates and Payment Dates/Maturity Date for the Notes will be as follows, subject to the occurrence ofany special circumstances (see "Special Circumstances" in the pricing supplement) and the Notes being automatically called by the Bank:
Payment Dates:
	Valuation DateAugust 16, 2022 (the "2022 Autocall	Record Date	Payment Date/ Maturity Date
	Valuation Date")August 15, 2023 (the "2023 Autocall	August 19, 2022	August 22, 2022
	Valuation Date")August 15, 2024 (the "2024 Autocall	August 18, 2023	August 21, 2023
	Valuation Date")	August 20, 2024	August 21, 2024
	August 15, 2025 (the "2025 AutocallValuation Date")	August 20, 2025	August 21, 2025
	August 17, 2026 (the "2026 AutocallValuation Date")	August 20, 2026	August 21, 2026
	August 17, 2027 (the "2027 AutocallValuation Date")	August 20, 2027	August 23, 2027
	August 15, 2028 (the "Final ValuationDate")	August 18, 2028	August 21, 2028

Each of the Valuation Dates (other than the Final Valuation Date) is an "Autocall Valuation Date". If an Autocall Valuation Date, the Final Valuation Date or a Record Date is not an Exchange Business Day then the Autocall Valuation Date, Final Valuation Date or Record Date, as the case may be, will be the immediately preceding Exchange Business Day, subject to Special Circumstances.

MaturityRedemptionAmount:	formula below:	Holders of record on the applicable Record Date will be entitled to an amount payable per Note if they are automatically called by the Bankor at maturity (in each case, the "Maturity Redemption Amount") as calculated by the Calculation Agent in accordance with the applicable
		If the Closing Index Level on an Autocall Valuation Date or the Final Valuation Date is greater than or equal to the Autocall Level, theMaturity Redemption Amount will equal:
		Principal Amount + Variable Return
		If the Final Index Level on the Final Valuation Date is less than the Autocall Level but greater than or equal to the Barrier Level, theMaturity Redemption Amount will equal:
	Principal Amount
		If the Final Index Level on the Final Valuation Date is less than the Barrier Level, the Maturity Redemption Amount will equal:
		Principal Amount + (Principal Amount x Index Return)
		The Maturity Redemption Amount will be substantially less than the Principal Amount invested by an investor if the Final Index Level on theFinal Valuation Date is less than the Barrier Level. The Maturity Redemption Amount will be subject to a minimum principal repayment of$1.00 per Note. The return on the Notes will not reflect the total return that an investor would receive if such investor owned thesecurities included in the Target Index.
Autocall Level:		100.00% of the Initial Index Level.
Barrier Level:	70.00% of the Initial Index Level.
Index Return:		The Index Return is an amount expressed as a percentage (which can be zero, positive or negative) calculated by the Calculation Agent inaccordance with the following formula:
		(Final Index Level – Initial Index Level) / Initial Index Level
Closing IndexLevel:	Day.	The official closing level or value of the Index on a given day as calculated and announced by the Index Sponsor on an Exchange Business
Initial Index Level:		The Closing Index Level on the Initial Valuation Date.
Final Index Level:		The Closing Index Level on an Autocall Valuation Date or the Final Valuation Date, as the case may be.
Listing andSecondary Market:	The Notes will not be listed on any exchange or marketplace. Scotia Capital Inc. will use reasonable efforts under normal marketconditions to provide a daily secondary market for the sale of the Notes but reserves the right to elect not to do so at any time in the future,in its sole and absolute discretion, without prior notice to holders.
Early Trading
Charge:		If Sold Within	Early Trading Charge(% of Principal Amount)
		0-90 days of Issue Date	3.50%
		91-180 days of Issue Date	1.50%
		Thereafter	Nil
Eligibility forInvestment:	Eligible for RRSPs, RRIFs, RESPs, RDSPs, DPSPs and TFSAs.
Fees andExpenses:	A selling concession fee of $2.50 per Note sold (or 2.50% of the Principal Amount) will be payable to the Investment Dealers for furtherpayment to representatives, including representatives employed by the Investment Dealers whose clients purchase the Notes. A fee of up to$0.15 per Note sold (or up to 0.15% of the Principal Amount) will be payable directly by the Bank to Desjardins Securities Inc. at closing foracting as the independent agent. The payment of these fees will not reduce the amount on which the Maturity Redemption Amount payable onthe Notes is calculated.

HYPOTHETICAL EXAMPLES

The following examples show how the Index Return and Maturity Redemption Amount would be calculated based on certain hypothetical values and assumptions set out below. These examples are for illustrative purposes only and should not be construed as an estimate or forecast of the performance of the Index or the return that an investor might realize on the Notes. The Index Return will be calculated based on the performance of the Index, which reflects the gross total return performance of the Target Index as reduced by the Adjusted Return Factor. Certain dollar amounts are rounded to the nearest whole cent and "$" refers to the relevant currency for the specific hypothetical dollar amounts and hypothetical prices that the context requires.

Hypothetical values for calculations:

Initial Index Level*:	100.00
Barrier Level:	70.00% of the Initial Index Level = 70.00% x 100.00 = 70.00
Autocall Level:	100.00% of the Initial Index Level = 100.00% x 100.00 = 100.00

*The Initial Index Level of 100.00 is a hypothetical Initial Index Level that has been chosen for illustrative purposes only and does not represent either the actual Initial Index Level or an estimate or forecast thereof. The actual Initial Index Level will be equal to the Closing Index Level on the Initial Valuation Date.

Example #1 - The Notes are not automatically called as the Closing Index Level on each Autocall Valuation Date is less than the Autocall Level. The Final Index Level on the Final Valuation Date is less than the Barrier Level and no Variable Return is payable.

	2022 Autocall	2023 Autocall	2024 Autocall	2025 Autocall	2026 Autocall	2027 Autocall	Final Valuation
	Valuation Date	Valuation Date	Valuation Date	Valuation Date	Valuation Date	Valuation Date	Date
Closing Index Level:	94.95	85.99	85.00	89.00	83.00	92.00	50.33(Final Index Level)
Index Return:	-5.05%	-14.01%	-15.00%	-11.00%	-17.00%	-8.00%	-49.67%
	(actual)	(actual)	(actual)	(actual)	(actual)	(actual)	(actual)
Maturity RedemptionAmount:							$50.33per Note

Since the Final Index Level (50.33) on the Final Valuation Date is less than the Barrier Level (70.00), the Maturity Redemption Amount is calculated as follows:

Principal Amount + (Principal Amount x Index Return)

$100.00 + ($100.00 x -49.67%) = $50.33 per Note

In this example, since the Final Index Level on the Final Valuation Date is less than the Autocall Level, no Variable Return is payable.

An investor would receive a Maturity Redemption Amount of $50.33 per Note on the Maturity Date, which is equivalent to an annual compound rate of return of approximately -9.34% per Note.

Example #2 - The Notes are not automatically called as the Closing Index Level on each Autocall Valuation Date is less than the Autocall Level. The Final Index Level on the Final Valuation Date is less than the Autocall Level, but greater than or equal to the Barrier Level and no Variable Return is payable.

	2022 Autocall	2023 Autocall	2024 Autocall	2025 Autocall	2026 Autocall	2027 Autocall	Final Valuation
	Valuation Date	Valuation Date	Valuation Date	Valuation Date	Valuation Date	Valuation Date	Date
Closing Index Level:	94.95	85.99	85.00	89.00	83.00	92.00	89.30(Final Index Level)
Index Return:	-5.05%	-14.01%	-15.00%	-11.00%	-17.00%	-8.00%	-10.70%
	(actual)	(actual)	(actual)	(actual)	(actual)	(actual)	(actual)
Maturity RedemptionAmount:							$100.00per Note

Since the Final Index Level (89.30) on the Final Valuation Date is less than the Autocall Level (100.00), but greater than the Barrier Level (70.00), the Maturity Redemption Amount is calculated as follows:

Principal Amount = $100.00 per Note

In this example, since the Final Index Level on the Final Valuation Date is less than the Autocall Level, no Variable Return is payable.

An investor would receive a Maturity Redemption Amount of $100.00 per Note on the Maturity Date, which is equivalent to an annual compound rate of return of 0.00% per Note.

Example #3 - The Notes are not automatically called as the Closing Index Level on each Autocall Valuation Date is less than the Autocall Level. The Final Index Level on the Final Valuation Date is greater than or equal to the Autocall Level and a Variable Return is payable consisting of a Fixed Return only. No Additional Return is payable as the Index Return is less than or equal to the Fixed Return.

	2022 Autocall	2023 Autocall	2024 Autocall	2025 Autocall	2026 Autocall	2027 Autocall	Final Valuation
	Valuation Date	Valuation Date	Valuation Date	Valuation Date	Valuation Date	Valuation Date	Date
Closing Index Level:	94.95	85.99	85.00	89.00	83.00	92.00	102.08(Final Index Level)
Index Return:	-5.05%	-14.01%	-15.00%	-11.00%	-17.00%	-8.00%	2.08%
	(actual)	(actual)	(actual)	(actual)	(actual)	(actual)	(actual)
Maturity RedemptionAmount:							$161.60per Note

Since the Final Index Level (102.08) on the Final Valuation Date is greater than the Autocall Level (100.00), the Maturity Redemption Amount is calculated as follows:

Principal Amount + Variable Return

Principal Amount + [Principal Amount x (Fixed Return + Additional Return)] $100.00 + [$100.00 x (61.60% + 0.00%)] = $161.60 per Note

In this example, since the Index Return (2.08%) is less than the Fixed Return (61.60%), no Additional Return is payable.

An investor would receive a Maturity Redemption Amount of $161.60 per Note on the Maturity Date, which is equivalent to an annual compound rate of return of approximately 7.10% per Note.

Example #4 - The Notes are not automatically called on the 2022 or 2023 Autocall Valuation Dates as the Closing Index Level is less than the Autocall Level. The Notes are automatically called on the 2024 Autocall Valuation Date as the Closing Index Level is greater than or equal to the Autocall Level and a Variable Return is payable consisting of a Fixed Return and an Additional Return as the Index Return is greater than the Fixed Return.

	2022 AutocallValuation Date	2023 AutocallValuation Date	2024 AutocallValuation Date	2025 AutocallValuation Date	2026 AutocallValuation Date	2027 AutocallValuation Date	Final ValuationDate
Closing Index Level:	94.95	85.99	131.74(Autocall)
Index Return:	-5.05%(actual)	-14.01%(actual)	31.74%(actual)
Maturity RedemptionAmount:			$126.67per Note

Since the Closing Index Level (131.74) on the 2024 Autocall Valuation Date is greater than the Autocall Level (100.00), the Maturity Redemption Amount is calculated as follows:

Principal Amount + Variable Return

Principal Amount + [Principal Amount x (Fixed Return + Additional Return)] $100.00 + [$100.00 x (26.40% + (5.00% x (31.74% - 26.40%)))] = $126.67 per Note

In this example, since the Index Return (31.74%) is greater than the Fixed Return (26.40%), an Additional Return is payable.

An investor would receive a Maturity Redemption Amount of $126.67 per Note, which is equivalent to an annual compound rate of return of approximately 8.20% per Note.

Example #5 - The Notes are automatically called on the 2022 Autocall Valuation Date as the Closing Index Level is greater than or equal to the Autocall Level and a Variable Return is payable consisting of a Fixed Return only. No Additional Return is payable as the Index Return is less than the Fixed Return.

	2022 AutocallValuation Date	2023 AutocallValuation Date	2024 AutocallValuation Date	2025 AutocallValuation Date	2026 AutocallValuation Date	2027 AutocallValuation Date	Final ValuationDate
Closing Index Level:	106.00(Autocall)
Index Return:	6.00%(actual)
Maturity RedemptionAmount:	$108.80per Note

Since the Closing Index Level (106.00) on the 2022 Autocall Valuation Date is greater than the Autocall Level (100.00), the Maturity Redemption Amount is calculated as follows:

Principal Amount + Variable Return

Principal Amount + [Principal Amount x (Fixed Return + Additional Return)]

$100.00 + [$100.00 x (8.80% + 0.00%)] = $108.80 per Note

In this example, since the Index Return (6.00%) is less than the Fixed Return (8.80%), no Additional Return is payable.

An investor would receive a Maturity Redemption Amount of $108.80 per Note, which is equivalent to an annual compound rate of return of 8.80% per Note.

DISCLAIMER

No securities regulatory authority has in any way passed upon the merits of the securities referred to herein and any representation to the contrary is an offence. The Notes are not principal protected (subject to a minimum principal repayment of $1.00 per Note) and an investor may receive substantially less than the original principal amount at maturity. A person should reach a decision to invest in the Notes only after carefully considering, with his or her investment, legal, accounting, tax and other advisors, the suitability of the Notes in light of his or her investment objectives and the information set out in the Prospectus. The Bank, the Calculation Agent, Scotia Capital Inc. and Desjardins Securities Inc. make no recommendation as to the suitability of the Notes for investment by any particular person. The Notes have not been, and will not be, registered under the United States Securities Act of 1933, as amended (the "1933 Act"), or any State securities laws and, subject to certain exceptions, may not be offered for sale, sold or delivered, directly or indirectly, in the United States, its territories or possessions or to or for the account or benefit of U.S. persons within the meaning of Regulation S under the 1933 Act. In addition, the Notes may not be offered or sold to residents of any jurisdiction or country in Europe. "Scotiabank" and "Scotiabank Global Banking and Markets" are registered trademarks of The Bank of Nova Scotia. Scotia Capital Inc. is a wholly-owned subsidiary of The Bank of Nova Scotia.

Amounts paid to holders of the Notes will depend on the performance of the underlying interests. Unless otherwise specified in the Prospectus, the Bank does not guarantee that any of the principal amount of the Notes will be paid (subject to a minimum principal repayment of $1.00 per Note), or guarantee that any return will be paid on the Notes, at or prior to maturity. Purchasers could lose substantially all of their investment in the Notes (subject to a minimum principal repayment of $1.00 per Note). The Notes are not appropriate investments for persons who do not understand the risks associated with structured products or derivatives. A purchaser of the Notes will be exposed to fluctuations and changes in the levels of the Index to which the Notes are linked. The Index levels may be volatile and an investment linked to Index levels may also be volatile. The Notes are linked to the performance of the Index which aims to track the performance of the Target Index as reduced by the Adjusted Return Factor. The level of the Index may be affected by the volatility of the prices of the equity securities of the issuers comprising the Target Index and there is no assurance of the ability of issuers comprising the Target Index to declare and pay dividends or make distributions in respect of the constituent securities of the Target Index or to sustain or increase such dividends and distributions at or above historical levels. Purchasers should read carefully the "Risk Factors" sections in the Prospectus.

The Notes will not constitute deposits under the Canada Deposit Insurance Corporation Act or under any other deposit insurance regime. The Notes have not been rated and will not be insured by the Canada Deposit Insurance Corporation or any other entity and therefore the payments to investors will be dependent upon the financial health and creditworthiness of the Bank.

Scotia Capital Inc. is a wholly owned subsidiary of the Bank. Consequently, the Bank is a related and connected issuer of Scotia Capital Inc. within the meaning of applicable securities legislation. See "Plan of Distribution" in the Prospectus.

The information contained herein, while obtained from sources believed to be reliable, is not guaranteed as to its accuracy or completeness.

INDEX SPONSOR

The Index Sponsor and the Bank have entered into a non-exclusive license agreement providing for the license to the Bank, in exchange for a fee, of the right to use the Index and the Target Index, which are owned, calculated, administered and published by the Index Sponsor, in connection with the Notes.

The license agreement between the Index Sponsor and the Bank provides that the following language must be set forth herein:

The Notes are not sponsored, promoted, sold or supported in any other manner by the Index Sponsor nor does the Index Sponsor offer any express or implicit guarantee or assurance, either with regard to the results of using the Index, the Target Index and/or the trade marks of the Index and Target Index or the applicable "Index Price" (as defined in the license agreement) in respect of the Index and Target Index at any time or in any other respect. The Index and Target Index are calculated and published by the Index Sponsor. The Index Sponsor uses its best efforts to ensure that the Index and Target Index are calculated correctly. Irrespective of its obligations towards the Bank, the Index Sponsor has no obligation to point out errors in the Index and Target Index to third parties including but not limited to investors and/or financial intermediaries of the Notes. Neither publication of the Index and Target Index by the Index Sponsor nor the licensing of the Index and Target Index or the trade marks of the Index and Target Index for the purpose of use in connection with the Notes constitutes a recommendation by the Index Sponsor to invest capital in the Notes nor does it in any way represent an assurance or opinion of the Index Sponsor with regard to any investment in the Notes.

TRADEMARK NOTICE

™ Trademark of The Bank of Nova Scotia, used under license (where applicable). Scotiabank is a marketing name for the global corporate and investment banking and capital markets businesses of The Bank of Nova Scotia and certain of its affiliates in the countries where they operate including Scotia Capital Inc. (Member-Canadian Investor Protection Fund and regulated by the Investment Industry Regulatory Organization of Canada). Important legal information may be accessed at https://www.gbm.scotiabank.com/en/legal.html. Products and services described are available only by Scotiabank licensed entities in jurisdictions where permitted by law. This information is not directed to or intended for use by any person resident or located in any country where its distribution is contrary to its laws. Not all products and services are offered in all jurisdictions.