Filed pursuant to Rule 433
Registration No. 333-174823
Issuer Free Writing Prospectus
Pricing Term Sheet
Dated August 8, 2011
THE BANK OF NOVA SCOTIA
4.00%
CALLABLE FIXED RATE SENIOR NOTES DUE 2023, SERIES A
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| Issuer:
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The Bank of Nova Scotia (the “Bank”) |
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| Title of Securities:
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4.00%
Callable Fixed Rate Senior Notes due 2023, Series A (the “Notes”) |
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| Maturity Date:
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August 11, 2023 |
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| Interest Payment Dates:
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February 11th and August 11th, commencing on February 11, 2012 |
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| First Call Date:
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August 11, 2014 |
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| Price to Public:
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100% |
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| Trade Date:
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August 8, 2011 |
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| Settlement Date:
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August 11, 2011; (T+3) |
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| CUSIP/ISIN:
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064159 AG1/US064159AG15 |
The following discussion under the heading “Tax Redemption” supplements the discussion set forth in
the Bank’s Preliminary Pricing Supplement with respect to the Notes, dated July 13, 2011, and forms
a part of the offering of the Notes.
Tax Redemption
The Bank (or its successor) may redeem the Notes, in whole but not in part, at a redemption price
equal to the principal amount thereof together with accrued and unpaid interest to the date fixed
for redemption, upon the giving of a notice as described below, if:
• as a result of any change (including any announced prospective change) in or amendment to
the laws (or any regulations or rulings promulgated thereunder) of Canada (or the jurisdiction of
organization of the successor to the Bank) or of any political subdivision or taxing authority
thereof or therein affecting taxation, or any change in official position regarding the application
or interpretation of such laws, regulations or rulings (including a holding by a court of
competent jurisdiction), which change or amendment is announced or becomes effective on or after
August 8, 2011 (or, in the case of a successor to the Bank, after the date of succession), and
which in the written opinion to the Bank (or its
successor) of legal counsel of recognized standing
has resulted or will result (assuming, in the case of any announced prospective change, that such
announced change will become effective as of the date specified in such announcement and in the
form announced) in the Bank (or its successor) becoming obligated to pay, on the next succeeding
date on which interest is due, additional amounts with respect to the Notes; or
• on or after August 8, 2011 (or, in the case of a successor to the Bank, after the date of
succession), any action has been taken by any taxing authority of, or any decision has been
rendered by a court of competent jurisdiction in, Canada (or the jurisdiction of organization of
the successor to the Bank) or any political subdivision or taxing authority thereof or therein,
including any of those actions specified in the paragraph immediately above, whether or not such
action was taken or decision was rendered with respect to the Bank (or its successor), or any
change, amendment, application or interpretation shall be officially proposed, which, in any such
case, in the written opinion to the Bank (or its successor) of legal counsel of recognized
standing, will result (assuming, in the case of any announced prospective change, that such
announced change will become effective as of the date specified in such announcement and in the
form announced) in the Bank (or its successor) becoming obligated to pay, on the next succeeding
date on which interest is due, additional amounts with respect to the Notes;
and, in any such case, the Bank (or its successor), in its business judgment, determines that such
obligation cannot be avoided by the use of reasonable measures available to it (or its successor).
In the event the Bank elects to redeem the Notes pursuant to the provisions set forth in the
preceding paragraph, it shall deliver to the Trustees a certificate, signed by an authorized
officer, stating (i) that the Bank is entitled to redeem such Notes pursuant to their terms and
(ii) the principal amount of the Notes to be redeemed.
Notice of intention to redeem such Notes will be given to holders of the Notes not more than 45 nor
less than 30 days prior to the date fixed for redemption and such notice will specify, among other
things, the date fixed for redemption and the redemption price.
Other Information
The Bank has filed a registration statement (File No. 333-174823)
(including a base shelf
prospectus dated January 11, 2010 as amended by amendment No. 1 thereto dated June 29, 2011, a
prospectus supplement dated July 12, 2011, a product supplement dated July 12, 2011 and a
preliminary pricing supplement dated July 13, 2011
(collectively, the “prospectus”)) with the SEC for the offering to which this
communication relates. Before you invest, you should read the prospectus in that registration
statement and other documents the Bank has filed with the SEC for more complete information about
the Bank and this offering. You may obtain these documents for free by visiting EDGAR on the SEC
web site at www.sec.gov. Alternatively, the Bank, any underwriter or any dealer participating in
the offering will arrange to send to you the prospectus if you request it by calling Scotia Capital
(USA) Inc. at (212) 225-5687.
Any disclaimer or other notice that may appear below is not applicable to this communication and
should be disregarded. Such disclaimer or notice was automatically generated as a result of this
communication being sent by Bloomberg or another email system.