New Issue: Scotia prices $15.11 million Accelerated Return Notes on index basket

By Wendy Van Sickle

Columbus, Ohio, March 29 – Bank of Nova Scotia priced $15.11 million of 0% Accelerated Return Notes due May 26, 2023 linked to an international equity basket, according to a 424B2 filing with the Securities and Exchange Commission.

The basket consists of the Euro Stoxx 50 index with an initial weight of 40%, the FTSE 100 index and the Nikkei Stock Average index each with an initial weight of 20%, the Swiss Market index and the S&P/ASX 200 index each with an initial weight of 7.5% and the FTSE China 50 index with an initial weight of 5%.

The payout at maturity will be par of $10 plus triple any index gain, up to a maximum payout of par plus 20.75%. 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:	Euro Stoxx 50 (40% weight), FTSE 100 (20% weight), Nikkei Stock (20% weight), Swiss Market (7.5% weight), S&P/ASX 200 (7.5% weight), FTSE China 50 (5% weight)
Amount:	$15,113,200
Maturity:	May 26, 2023
Coupon:	0%
Price:	Par of $10
Payout at maturity:	Par plus 300% of any index gain, capped at par plus 20.75%; exposure to any index decline
Initial index levels:	3,863.39 for Stoxx, 7,467.38 for FTSE 100, 28,110.39 for Nikkei, 12,131.45 for Swiss Market, 7,387.065 for S&P/ASX, 14,838.43 for FTSE China
Final index level:	Average of index’s closing levels on five trading days ending May 23, 2023
Pricing date:	March 24
Settlement date:	March 31
Underwriter:	BofA Securities, Inc.
Fees:	1.75%
Cusip:	06418B108

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