BANK OF NOVA SCOTIA (Form: 6-K, Received: 11/30/2021 14:32:04)

THE BANK OF NOVA SCOTIA

Date: November 30, 2021

/s/ Roula Kataras

Name: Roula Kataras

Title: Senior Vice-President & Chief Accountant

UNITED STATES

SECURITIES AND EXCHANGE COMMISSION

Washington, DC 20549

Form 6-K

Report of Foreign Private Issuer

Pursuant to Rule 13a-16 or 15d-16 of

the Securities Exchange Act of 1934


For the month of: November, 2021				Commission File Number: 002-09048

THE BANK OF NOVA SCOTIA

(Name of registrant)

44 King Street West, Scotia Plaza, Toronto, Ontario, M5H 1H1

(416) 933-4103

(Address of Principal Executive Offices)

Indicate by check mark whether the registrant files or will file annual reports under cover of Form 20-F or Form 40-F:

Form 20-F ☐ Form 40-F ☒

Indicate by check mark if the registrant is submitting the Form 6-K in paper as permitted by Regulation S-T Rule 101(b)(1): ☐

Indicate by check mark if the registrant is submitting the Form 6-K in paper as permitted by Regulation S-T Rule 101(b)(7): ☐

This report on Form 6-K shall be deemed to be incorporated by reference in The Bank of Nova Scotia’s registration statements on Form S-8 (File No. 333-199099) and Form F-3 (File No. 333-228614) and to be a part thereof from the date on which this report is filed, to the extent not superseded by documents or reports subsequently filed or furnished.

SIGNATURES

Pursuant to the requirements of the Securities Exchange Act of 1934, the registrant has duly caused this report to be signed on its behalf by the undersigned, thereunto duly authorized.

EXHIBIT INDEX


Exhibit		Description of Exhibit

99.1		2021 Fourth Quarter Earnings Coverage

Exhibit 99.1

THE BANK OF NOVA SCOTIA

EARNINGS COVERAGE

Earnings Coverage on Subordinated Indebtedness and Preferred Shares and Other Equity Instruments

The consolidated financial ratios for the Bank are set forth in the table below:


	Twelve months ended October 31, 2021⁽¹⁾
Grossed up dividend coverage on outstanding preferred shares and other equity instruments		41.65

Interest coverage on subordinated indebtedness		70.42

Grossed up dividend and interest coverage on preferred shares, other equity instruments and subordinated indebtedness		26.41

The Bank’s dividend requirements on all of its outstanding preferred shares and other equity instruments was $300 million for the 12 months ended October 31, 2021, adjusted to a before-tax equivalent using an effective income tax rate of 22.38% for the 12 months ended October 31, 2021. The Bank’s interest requirements for subordinated indebtedness was $180 million for the 12 months ended October 31, 2021. The Bank’s earnings before interest on subordinated indebtedness and income tax for the 12 months ended October 31, 2021 were $12,675 million after deducting non-controlling interest. In calculating the dividend and interest coverages, foreign currency amounts have been converted to Canadian dollars.

Consolidated Ratios of Earnings to Fixed Charges

The table below sets forth the Bank’s consolidated ratios of earnings to fixed charges:


	Twelve months ended October 31, 2021⁽¹⁾
Excluding interest on deposits		9.00
Including interest on deposits		2.56

For purposes of computing these ratios:

(a) earnings represent income from continuing operations plus income taxes and fixed charges (excluding capitalized interest and net income from investments in associated corporations);

(b) fixed charges, excluding interest on deposits, represent interest (including capitalized interest), and amortization of debt issuance costs; and

All amounts presented herein are derived from financial information prepared in accordance with International Financial Reporting Standards (“IFRS”). The ratios reported are not defined by IFRS and do not have any standardized meanings under IFRS and thus may not be comparable to similar measures used by other issuers.

⁽¹⁾	This measure has been disclosed in this document in accordance with section 8.4 of National Instrument 44-102 – Shelf Distributions.