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

Chicago, Aug. 29 – Bank of Nova Scotia priced $500,000 of 0% autocallable digital barrier notes due Aug. 21, 2024 linked to the performance of the S&P 500 index, according to a 424B2 filing with the Securities and Exchange Commission.

The notes will be automatically called at par plus an 11.15% call premium if the index closes at or above its initial level on Aug. 30, 2023.

If the notes are not called and the final index level is greater than or equal to 85% of its initial level, the payout at maturity will be the greater of par plus 22.3% and par plus the index return.

Otherwise, investors will lose 1% for every 1% decline of the index from 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:	Autocallable digital barrier notes
Underlying index:	S&P 500 index
Amount:	$500,000
Maturity:	Aug. 21, 2024
Coupon:	0%
Price:	Par
Payout at maturity:	If index finishes at or above barrier level, the greater of par plus 22.3% and par plus the index return; otherwise, full exposure to decline from initial level
Call:	Automatically at par plus an 11.15% call premium if index closes at or above its initial level on Aug. 30, 2023
Initial level:	4,274.04
Barrier level:	3,632.93; 85% of initial level
Strike date:	Aug. 17, 2022
Pricing date:	Aug. 18, 2022
Settlement date:	Aug. 23, 2022
Agents:	Scotia Capital (USA) Inc. with J.P. Morgan Securities LLC as placement agent
Fees:	1.5%
Cusip:	06416DBW5

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