New Issue: Scotia sells $600,000 contingent barrier digital notes on S&P 500

By Kiku Steinfeld

Chicago, July 3 – Bank of Nova Scotia priced $600,000 of 0% contingent barrier digital notes due Feb. 23, 2024 linked to the S&P 500 index, according to a 424B2 filing with the Securities and Exchange Commission.

If the final index level is greater than or equal to 75% of the initial index level, the payout at maturity will be par plus 8.75%.

If the final index level is less than the 75% barrier value, investors will lose 1% for every 1% that the index declines from its initial level.

Scotia Capital (USA) Inc. is the agent with J.P. Morgan Securities LLC acting as the placement agent.

Issuer:	Bank of Nova Scotia
Issue:	Contingent barrier digital notes
Underlying index:	S&P 500 index
Amount:	$600,000
Maturity:	Feb. 23, 2024
Coupon:	0%
Price:	Par
Payout at maturity:	If final level is greater than or equal barrier level, par plus 8.75%; if final index level is less than barrier value, full exposure to losses of index
Initial level:	4,164.00
Barrier level:	3,123.00, 75% of initial level
Pricing date:	Feb. 8, 2023
Settlement date:	Feb. 13, 2023
Agents:	Scotia Capital (USA) Inc. with J.P. Morgan Securities LLC as placement agent
Fees:	1%
Cusip:	06417YEB1

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