New Issue: Scotia prices $875,000 capped buffered return enhanced notes on Russell 2000

By Kiku Steinfeld

Chicago, June 5 – Bank of Nova Scotia sold $875,000 of 0% capped buffered return enhanced notes due Jan. 30, 2025 linked to the Russell 2000 index, according to a 424B2 filing with the Securities and Exchange Commission.

The payout at maturity will be par plus 200% of any index gain, subject to a maximum payout of par plus 28.4%.

Investors will receive par if the index falls by up to 15% and will lose 1.1765% for every 1% decline beyond 15%.

Scotia Capital (USA) Inc. is the underwriter. J.P. Morgan Securities LLC and JPMorgan Chase Bank, NA are the placement agents.

Issuer:	Bank of Nova Scotia
Issue:	Capped buffered return enhanced notes
Underlying index:	Russell 2000 index
Amount:	$875,000
Maturity:	Jan. 30, 2025
Coupon:	0%
Price:	Par
Payout at maturity:	Par plus 200% of any index gain, capped at par plus 28.4%; par if index falls by up to 15%; otherwise, 1.1765% loss for every 1% decline beyond 15%
Initial index level:	1,911.456
Buffer level:	1,624.738; 85% of initial level
Pricing date:	Jan. 27, 2023
Settlement date:	Feb. 1, 2023
Underwriter:	Scotia Capital (USA) Inc.
Placement agents:	J.P. Morgan Securities LLC and JPMorgan Chase Bank, NA
Fees:	1.5%
Cusip:	06417YDR7

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