New Issue: Scotia prices $14.94 million Accelerated Return Notes on index basket

By Wendy Van Sickle

Columbus, Ohio, May 3 – Bank of Nova Scotia priced $14.94 million of 0% Accelerated Return Notes due June 30, 2023 linked to an index basket, according to a 424B2 filing with the Securities and Exchange Commission.

The basket consists of the Industrial Select Sector index with a 33.34% weight, Energy Select Sector index with a 33.33% weight and Materials Select Sector index with a 33.33% weight.

The payout at maturity will be par of $10 plus triple any index gain, up to a maximum payout of par plus 18.75%. Investors will be exposed to any index decline.

BofA Securities, Inc. is the agent.

Issuer:	Bank of Nova Scotia
Issue:	Accelerated Return Notes
Underlying basket:	Industrial Select Sector index with a 33.34% weight, Energy Select Sector index with a 33.33% weight and Materials Sector Select index with a 33.33% weight
Amount:	$14,942,460
Maturity:	June 30, 2023
Coupon:	0%
Price:	Par of $10
Payout at maturity:	Par plus 300% of any index gain, capped at par plus 18.75%; exposure to any index decline
Initial index levels:	984.59 for Industrial, 809.58 for Energy, 917.54 for Materials
Final index level:	Average of index’s closing levels on five trading days ending June 27, 2023
Pricing date:	April 28
Settlement date:	May 5
Underwriter:	BofA Securities, Inc.
Fees:	1.75%
Cusip:	06418B835

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