Debounce for on touched event not working??

Not sure what's going on here but it could just be me being dumb, my debounce isn't working. other than that everything is working fine

is it because of how I placed the debounce?

game.Players.PlayerAdded:Connect(function(player)
    script.Parent.Touched:Connect(function(hit)

        local char = hit.Parent
        local hum = char:FindFirstChild("Humanoid")

        local debounce = false

        if hum and not debounce then


            local players = game:GetService("Players")
            local player = players:GetPlayerFromCharacter(char)
            local pack = player.Backpack
            local findSword = pack:FindFirstChild(player.Name.."'s sword")
            local char = player.Character or player.CharacterAdded:Wait()
            local equippedSword = char:FindFirstChild(player.Name.."'s sword")
            if not findSword  and not equippedSword then  


                local SwordE = player:WaitForChild("EquippedSword")
                if SwordE then
                    local Swordbank = game.ReplicatedStorage:WaitForChild("SWORDBANK")
                    for _,Bank in pairs(Swordbank:GetChildren()) do
                        if Bank:IsA("Tool") then
                            if Bank.Name == SwordE.Value then


                                local CloneBank = Bank:Clone()
                                CloneBank.Name = (player.Name.."'s sword")
                                CloneBank.Parent = char


                                debounce = true
                                wait(5)
                                debounce = false

                            end
                        end 
                    end
                end
            end
        end
    end)
end)