Registration No. 333-228614

Market Linked Securities – Auto-Callable with Fixed Percentage Buffered Downside Principal at Risk Securities Linked to the Energy Select Sector SPDR® Fund Due February 5, 2021 Term Sheet to the Preliminary Pricing Supplement dated January 15, 2019

Issuer	The Bank of Nova Scotia (the “Bank”)
Term	Approximately 24 months (unless earlier called)
Market Measure	Energy Select Sector SPDR® Fund (the "Reference Asset") (Bloomberg Ticker: XLE)
Pricing Date	Expected to be January 31, 2019
Trade Date	Expected to be January 31, 2019
Issue Date	Expected to be February 5, 2019
Principal Amount	$1,000 per Security
Original Offering Price	100% of the Principal Amount of each Security
Automatic Call Feature	If the Fund Closing Price of the Reference Asset on any Call Date (including the Final Calculation Day) is greater than or equal to the Starting Price, the Securities will be automatically called for the Principal Amount plus the Call Premium applicable to the relevant Call Date. See “Call Dates and Call Premiums” on page 3
Call Dates	February 5, 2020; August 5, 2020; and January 29, 2021*
Call Settlement Dates	Five business days after the applicable Call Date (if the Securities are called on the last Call Date, the Call Settlement Date will be the Maturity Date)
Redemption Amount at Maturity	See “How the Redemption Amount at Maturity is Calculated” on page 3
Maturity Date	February 5, 2021*
Starting Price	The Fund Closing Price of the Reference Asset on the Pricing Date
Ending Price	The Fund Closing Price of the Reference Asset on the Final Calculation Day
Threshold Price	To be determined on the Pricing Date (equal to the Starting Price multiplied by the difference of 100% minus the Threshold Percentage).
Threshold Percentage	10%
Percentage Change	The percentage increase or decrease in the Ending Price from the Starting Price. The Percentage Change may reflect a positive return (based on any increase in the price of the Reference Asset over the life of the Securities) or a negative return (based on any decrease in the price of the Reference Asset over the life of the Securities)
Final Calculation Day	January 29, 2021
Calculation Agent	Scotia Capital Inc., an affiliate of the issuer
Denominations	$1,000 and any integral multiple of $1,000
Agent Discount	Up to 2.75% of which dealers, including Wells Fargo Advisors, LLC (“WFA”), may receive a selling concession of up to 1.50%, and WFA will receive a distribution expense fee of 0.075%
CUSIP/ISIN	064159NA0 / US064159NA08
Underwriters	Scotia Capital (USA) Inc.; Wells Fargo Securities, LLC

Call Date	Call Premium**
February 5, 2020	9.00% – 10.00% of the Principal Amount
August 5, 2020	13.50% - 15.00% of the Principal Amount
January 29, 2021 (the “Final Calculation Day”)	18.00% - 20.00% of the Principal Amount

The Securities have complex features and investing in the Securities involves risks not associated with an investment in conventional debt securities.  See “Selected Risk Considerations” in this term sheet, “Additional Risks” in the preliminary pricing supplement, “Additional Risk Factors Specific to the Notes” in the product prospectus supplement and “Risk Factors” in the prospectus supplement and prospectus.

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Hypothetical Returns

If the Securities are automatically called:

Hypothetical Call Date on which Securities are automatically called	Hypothetical payment per Security on related Call Settlement Date	Hypothetical pre-tax total rate of return	Hypothetical pre-tax annualized rate of return(1)
1st call date	$1,095.00	9.50%	9.11%
2nd call date	$1,142.50	14.25%	8.97%
3rd call date	$1,190.00	19.00%	8.88%

Assumes the Call Premiums are equal to the midpoints of their specified ranges. Each Security has a Principal Amount of $1,000.

⁽¹⁾ The annualized rates of return are calculated on a semi-annual bond equivalent basis with compounding.

If the Securities are not automatically called:

(1) The annualized rates of return are calculated on a semi-annual bond equivalent basis with compounding.

The above figures are for purposes of illustration only and may have been rounded for ease of analysis. The actual amount you receive upon automatic call or at maturity and the resulting pre-tax rate of return will depend on (i) whether the Securities are automatically called; (ii) if the Securities are automatically called, the actual Call Premium and the actual Call Date on which the Securities are called; (iii) if the Securities are not automatically called, the actual Ending Price of the Reference Asset; and (iv) whether you hold your Securities to maturity or earlier automatic call.

Call Dates and Call Premiums

Call Date	Call Premium	Payment per Security upon an Automatic Call
February 5, 2020	9.00% - 10.00% of the Principal Amount	$1,090.00 - $1,100.00
August 5, 2020	13.50% - 15.00% of the Principal Amount	$1,135.00 - $1,150.00
January 29, 2021 (the “Final Calculation Day”)	18.00% - 20.00% of the Principal Amount	$1,180.00 - $1,200.00

The actual Call Premium and Payment per Security upon an automatic call that is applicable to each Call Date will be determined on the Pricing Date and will be within the range specified in the foregoing table. The last Call Date is the Final Calculation Day, and payment upon an automatic call on the Final Calculation Day, if applicable, will be made on the Maturity Date.

How the Redemption Amount at Maturity is Calculated

If the Fund Closing Price of the Reference Asset is less than the Starting Price on each of the three Call Dates, the Securities will not be automatically called, and on the Maturity Date you will receive a Redemption Amount at Maturity per Security determined as follows:

●	If the Ending Price is less than the Starting Price and greater than or equal to the Threshold Price, the Redemption Amount at Maturity will equal: $1,000; or

●	If the Ending Price is less than the Threshold Price, the Redemption Amount at Maturity will be equal:

Principal Amount + [Principal Amount x (Percentage Change + Threshold Percentage)]

In this case, you will receive less than the Principal Amount and will have 1-to-1 downside exposure to the decrease in the price of the Reference Asset in excess of 10%.

Any positive return on the Securities will be limited to the applicable Call Premium, even if the Fund Closing Price of the Reference Asset significantly exceeds the Starting Price on the applicable Call Date. You will not participate in any appreciation of the Reference Asset beyond the applicable Call Premium. If the Securities are not automatically called on any Call Date and the Ending Price is less than the Threshold Price, you will receive less, and possibly 90% less, than the Principal Amount of your Securities at maturity.

Energy Select Sector SPDR^® Fund Daily Closing Prices*

Selected Risk Considerations

The risks set forth below are discussed in detail in “Additional Risks” in the pricing supplement, “Additional Risk Factors Specific to the Notes” in the product prospectus supplement and “Risk Factors” in the prospectus supplement and prospectus.  Please review those risk disclosures carefully.

●	The Inclusion of Dealer Spread and Projected Profit from Hedging in the Original Offering Price is Likely to Adversely Affect Secondary Market Prices.
●	Risk of Loss at Maturity: Any payment on the Securities at maturity depends on the Percentage Change of the Reference Asset. If the Securities are not automatically called, the Bank will only repay you the full Principal Amount of your Securities if the Percentage Change does not reflect a decrease in the Reference Asset of more than 10.00%. If the Percentage Change is negative by more than 10.00%, meaning the percentage decline from the Starting Price to the Ending Price is greater than the 10.00% Threshold Percentage, you will lose a significant portion of your initial investment in an amount equal to the Percentage Change in excess of the Threshold Percentage. Accordingly, if the Securities are not automatically called, you may lose up to 90% of your investment in the Securities if the percentage decline from the Starting Price to the Ending Price is greater than 10.00%.
●	The Downside Market Exposure to the Reference Asset is Buffered Only at Maturity.
●	The Potential Return On The Securities Is Limited To The Call Premium.
●	You Will Be Subject To Reinvestment Risk.
●	The Bank's Estimated Value of the Securities Will be Lower than the Original Offering Price of the Securities.
●	The Bank's Estimated Value Does Not Represent Future Values of the Securities and may Differ from Others' Estimates.
●	The Bank's Estimated Value is not Determined by Reference to Credit Spreads for our Conventional Fixed-Rate Debt.
●	The Securities Differ from Conventional Debt Instruments.
●	No Interest: The Securities will not bear interest and, accordingly, you will not receive any interest payments on the Securities.
●	Your Investment is Subject to the Credit Risk of The Bank of Nova Scotia.
●	The Securities are Subject to Market Risk.
●	The Securities are Subject to Risks Associated with the Energy Sector.
●	The Bank Cannot Control Actions by the Investment Advisor of the Reference Asset that May Adjust the Reference Asset in a Way that Could Adversely Affect the Payments on the Securities and Their Market Value, and the Investment Advisor Has No Obligation to Consider Your Interests.
●	There Are Risks Associated with The Reference Asset.
●	The Reference Asset Utilizes a Passive Indexing Approach.
●	The Value of the Reference Asset May Fluctuate Relative to its NAV.
●	The Reference Asset and The Target Index are Different and the Performance of the Reference Asset May Not Correlate with the Performance of the Target Index
●	If the Prices of the Reference Asset or the Reference Asset Constituent Stocks Change, the Market Value of Your Securities May Not Change in the Same Manner.
●	Holding the Securities is Not the Same as Holding the Reference Asset Or The Reference Asset Constituent Stocks.
●	No Assurance that the Investment View Implicit in the Securities Will Be Successful.
●	Past Performance is Not Indicative of Future Performance.
●	We May Sell an Additional Aggregate Principal Amount of the Securities at a Different Issue Price.
●	Changes Affecting the Reference Asset Could Have an Adverse Effect on the Value of the Securities.
●	The Bank Cannot Control Actions by the Investment Advisor and the Investment Advisor Has No Obligation to Consider Your Interests.
●	The Price at Which the Securities May Be Sold Prior to Maturity will Depend on a Number of Factors and May Be Substantially Less Than the Amount for Which They Were Originally Purchased.

●	The Securities Lack Liquidity.
●	Hedging activities by the Bank and/or the Underwriters may negatively impact investors in the Securities and cause our respective interests and those of our clients and counterparties to be contrary to those of investors in the Securities.
●	Market activities by the Bank or the Underwriters for their own respective accounts or for their respective clients could negatively impact investors in the Securities
●	The Bank, the Underwriters and Their Respective Affiliates Regularly Provide Services to, or Otherwise Have Business Relationships with, a Broad Client Base, Which Has Included and May Include the Investment Advisor and/or Reference Asset Constituent Stock Issuers.
●	Other Investors in the Securities May Not Have the Same Interests as You.
●	The Calculation Agent Can Postpone any Call Date (including the Final Calculation Day) for the Securities if a Market Disruption Event with Respect to the Reference Asset Occurs.
●	Anti-dilution Adjustments Relating to the Shares of the Reference Asset Do Not Address Every Event that Could Affect Such Shares.
●	There is No Affiliation Between Any Reference Asset Constituent Stock Issuers or the Investment Advisor of the Reference Asset and Us and We Are Not Responsible for Any Disclosure By Any of the Reference Asset Constituent Stock Issuers or the Investment Advisor of the Reference Asset.
●	A Participating Dealer or its Affiliates May Realize Hedging Profits Projected by its Proprietary Pricing Models in Addition to any Selling Concession, Creating a Further Incentive for the Participating Dealer to Sell the Securities to You.
●	Uncertain Tax Treatment: Significant aspects of the tax treatment of the Securities are uncertain. You should consult your tax advisor about your own tax situation. See "Canadian Income Tax Consequences" and "U.S. Federal Income Tax Consequences" in the pricing supplement.

Investment suitability must be determined individually for each investor. The Securities described herein are not a suitable investment for all investors.  In particular, no investor should purchase the Securities unless they understand and are able to bear the associated market, liquidity and yield risks.  Unless market conditions and other relevant factors change significantly in your favor, a sale of the Securities prior to maturity is likely to result in sale proceeds that are substantially less than the Principal Amount per Security. The Underwriters and their respective affiliates are not obligated to purchase the Securities from you at any time prior to maturity.

The Issuer has filed a registration statement (including a 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 Issuer has filed with the SEC for more complete information about the Issuer and this offering. You may get these documents for free by visiting EDGAR on the SEC website at www.sec.gov. Alternatively, the Issuer, any Underwriter or any dealer participating in the offering will arrange to send you the prospectus if you request it by calling your financial advisor or by calling Wells Fargo Securities, LLC at 866-346-7732.

This material is not a product of the Bank’s research department.

Investors should review carefully the preliminary pricing supplement and consult their tax advisors regarding the application of the U.S. federal tax laws to their particular circumstances, as well as any tax consequences arising under the laws of any state, local or non-U.S. jurisdiction.

SPDR^®, S&P 500^® and Select Sector SPDRs^® are trademarks of Standard & Poor’s Financial Services LLC (“S&P Financial”). The securities are not sponsored, endorsed, sold or promoted by the Select Sector SPDR Trust (the “SPDR Trust”), SSgA Funds Management, Inc. (“SSgA”) or S&P Financial. None of the SPDR Trust, SSgA or S&P Financial makes any representations or warranties to the holders of the securities or any member of the public regarding the advisability of investing in the securities. None of the SPDR Trust, SSgA or S&P Financial will have any obligation or liability in connection with the registration, operation, marketing, trading or sale of the securities or in connection with our use of information about the Energy Select Sector SPDR^® Fund.