Line a 13x9x2 inch pan with foil or parchment paper and lightly spray with cooking spray. Set aside.
In a large mixing bowl, mix the powdered sugar, peanut butter, hazelnut spread, and butter until combined. Stir in the crushed pretzels. Press the mixture into the prepared pan.
In a medium saucepan, combine the butterscotch chips with the whipping cream. Stir over lower heat until the mixture is melted.
Pour the mixture evenly over the pretzel mixture and carefully spread it evenly across the top.
Cover and chill for at least 2 hours. Cut into bars and enjoy!