Every 424B that Bank of Nova Scotia (BNS) has filed with the SEC in the last 12 months is listed below, newest first, and each one links through to the document itself with the summary and the scores our analysis gives it.
A 424B covers the supplement that carries the terms of a priced offering, so if you follow BNS and want that one kind of document rather than the whole filing history, this is the page to keep. The company's other filings, of every form, are on the full BNS filings page.
The Bank of Nova Scotia is offering senior unsecured market-linked notes that pay contingent monthly coupons and can be auto-called early. The notes are linked to the lowest performing of Amazon, Broadcom, Alphabet Class A and NVIDIA, and mature in February 2029.
The contingent coupon rate will be at least 17.20% per annum, paid only when the lowest stock closes at or above 50% of its starting price, with a memory feature for unpaid coupons. From May 2026 to January 2029, if the lowest stock is at or above its starting price on a calculation day, the notes are automatically called at par plus due coupons.
If not called, principal is repaid at maturity only if the lowest stock on the final calculation day is at or above a downside threshold of 50% of its starting price; otherwise, repayment is reduced one-for-one with the decline, down to zero. The Bank’s estimated value is between 90.425% and 93.425% of the $1,000 offering price per note. The securities are unsecured obligations of Scotiabank, not insured by CDIC or FDIC, will not be listed on an exchange, and involve complex risk and tax considerations.
The Bank of Nova Scotia is issuing senior unsecured Market Linked Securities tied to Intel Corporation common stock, offering $1,000 face amount per note with an estimated value of $961.13 (96.113%) per security. Total proceeds to the bank are $4,031,047.25 before hedging profits.
The notes pay a high contingent coupon of 19.90% per annum, but only if Intel’s stock is at or above 60% of the $48.29 starting price on quarterly calculation days; otherwise no coupon is paid. From May 2026 to November 2028, the notes are auto‑callable if Intel closes at or above 90% of the starting price, returning face value plus a final coupon. If not called and Intel is below 60% of the starting price at final observation in February 2029, investors lose more than 40% and up to all principal. The notes are unlisted, intended to be held to maturity, and expose investors to both Intel share performance and Scotiabank credit risk.
The Bank of Nova Scotia is offering Buffered Contingent Income Auto-Callable Securities with Memory Coupon and Downside Leverage linked to Alphabet Inc.’s Class A stock. These are senior unsecured notes with principal at risk and no guarantee of regular interest.
Investors may receive a contingent monthly coupon of $14.30 per $1,000 (17.16% per annum) for each determination date on which Alphabet’s closing price is at or above 85% of the initial share price of $310.96, a downside threshold of $264.316. Missed coupons can be paid later if the threshold is met, under the memory feature.
If on any non-final determination date the stock closes at or above 100% of the initial share price ($310.96), the notes are auto-called and redeemed at par plus the applicable coupon and any unpaid coupons. At maturity, if the final price is below the downside threshold, repayment is based on a leveraged downside: investors lose about 1.1765% of principal for every 1% the final share price is below the threshold, up to total loss. All payments depend on BNS’s credit and the notes will not be listed, so liquidity may be limited.
The Bank of Nova Scotia is offering unsecured Autocallable Contingent Coupon Trigger Notes linked to the common stock of Netflix, Inc., maturing around March 29, 2027, in $1,000 denominations.
The notes pay a contingent monthly coupon of $9.542 per $1,000 (0.9542% per month, up to about 11.45% per year) only when Netflix’s closing price on an observation date is at least 68% of the initial price. Coupons are skipped for any month where the stock is below that barrier.
Starting in August 2026 through February 2027, the notes are automatically called if Netflix’s price on a call observation date is at or above the initial price. In that case, investors receive $1,000 plus the applicable coupon and the notes terminate early.
If the notes are not called, then at maturity investors get $1,000 plus a final coupon only if Netflix’s final price is at least 68% of the initial price. If the final price is below 68%, investors receive a share delivery amount of Netflix stock equal to $1,000 divided by the initial price (with cash for any fraction), whose value on the final valuation date will be less than 68% of principal. This can result in losing a substantial portion or all of the invested amount.
The notes are senior unsecured obligations of The Bank of Nova Scotia, not CDIC or FDIC insured, and all payments depend on the bank’s credit. They are not listed on any exchange, and secondary market liquidity may be limited. The bank’s initial estimated value is expected to be between $925 and $955 per $1,000, below the original issue price, reflecting commissions, structuring fees and hedging costs.
The Bank of Nova Scotia is offering Dual Directional Buffered PLUS, senior unsecured notes linked to the S&P 500® Index, maturing on or about March 3, 2028, with a stated principal amount of $1,000 per note and no periodic interest.
If the index rises, holders receive principal plus 150% of the index gain, capped at a maximum upside gain of 17.11%, or $1,171.10 per note. If the index is down by up to 10%, investors earn a matching positive return via an absolute-return feature, up to a 10.00% gain.
If the index falls more than the 10.00% buffer, repayment is reduced 1% for each additional 1% decline, with a minimum payment of $100, meaning up to 90.00% of principal can be lost. The notes pay no dividends, are not listed, and all payments depend on BNS’s credit. The estimated value on the pricing date is expected between $937.39 and $967.39 per $1,000.
The Bank of Nova Scotia is offering unsecured senior Autocallable Contingent Coupon Notes with Memory Coupon due February 15, 2029, linked to the least performing of Align Technology (ALGN), CarMax (KMX) and Progressive (PGR). The minimum investment is $1,000.
The notes pay a contingent coupon of at least $18.5417 per $1,000 (22.25% per annum) on scheduled dates only if each stock closes at or above 60% of its initial value; missed coupons accrue as “memory” but are forfeited if, on the final date, any stock is below its coupon barrier. The notes are automatically called if on certain observation dates all three stocks are at or above their initial values, returning principal plus due coupons.
If not called, at maturity investors receive full principal back only if the worst-performing stock is at or above 60% of its initial value; otherwise, repayment is reduced one-for-one with that stock’s loss, up to a 100% loss of principal. The initial estimated value is $923.19–$953.19 per $1,000, the notes will not be listed, and all payments are subject to Scotiabank’s credit risk and are not CDIC or FDIC insured.
The Bank of Nova Scotia is offering Trigger Autocallable Contingent Yield Notes linked to the least performing of the S&P 500® Index and the EURO STOXX 50® Index, with a principal amount of $10 per Note and an expected 5‑year term.
Investors may receive quarterly contingent coupons at a per‑annum rate of 7.50% to 8.05% only if both indices are at or above 70% of their initial levels on each observation date. The Notes are automatically called, returning principal plus the applicable coupon, if both indices are at or above their initial levels on any quarterly observation date after six months.
If the Notes are not called and any index finishes below its downside threshold (70% of its initial level) at maturity, repayment is reduced one‑for‑one with the decline of the worst index, up to a total loss of principal. Payments depend on BNS’s credit, the Notes are not insured or exchange‑listed, and their initial estimated value of $9.14–$9.44 per $10 is below the issue price.
The Bank of Nova Scotia is issuing $875,000 of Autocallable Contingent Coupon Buffered Notes linked to NVIDIA Corporation common stock, maturing March 12, 2027. These unsecured senior notes pay a monthly contingent coupon of $8.209 per $1,000 (0.8209%, about 9.85% per year) only when NVIDIA’s closing price on an observation date is at least 75% of the $190.04 initial price.
The notes can be automatically called on monthly call observation dates from August 2026 to February 2027 if NVIDIA closes at or above $190.04, returning $1,000 plus the applicable coupon. If not called and at maturity NVIDIA is at least 75% of the initial price, investors receive $1,000 plus the final coupon.
If at maturity NVIDIA’s price is below 75% of the initial level, repayment is reduced dollar-for-dollar beyond the 25% buffer, with up to 75% loss of principal and no coupon. The notes are not listed, carry The Bank of Nova Scotia’s credit risk, and had an initial estimated value of $974.13 per $1,000, below the issue price due to fees, structuring and hedging costs.
The Bank of Nova Scotia is offering $3,169,000 of unsecured Autocallable Contingent Coupon Trigger Notes linked to the common stock of Salesforce, Inc., maturing March 12, 2027. These structured notes pay monthly contingent coupons of $10.167 per $1,000 (about 12.20% per year) only if Salesforce’s share price is at least 68% of the $194.03 initial price on each observation date.
The notes may be automatically called as early as August 2026 if Salesforce closes at or above the initial price, returning principal plus the applicable coupon. If not called and the final price is below 68% of the initial price, investors lose 1% of principal for every 1% Salesforce has fallen, up to a total loss. All payments depend on the creditworthiness of The Bank of Nova Scotia.
The Bank of Nova Scotia is offering $3,000,000 of Digital Notes linked to the common stock of Broadcom Inc., maturing on March 11, 2027. The notes pay no interest; your return depends entirely on Broadcom’s share price on the valuation date versus the initial price of $343.94.
If Broadcom’s final price is at least 80% of the initial price, you receive a fixed maximum payment of $1,235.50 per $1,000 note (a 23.55% gain). If the final price is more than 20% below the initial price, your downside is magnified: you lose 1.25% of principal for every 1% drop beyond that buffer, up to a 100% loss.
The notes are unsecured, unsubordinated obligations of The Bank of Nova Scotia, are not insured, and will not be listed on an exchange. The initial estimated value is $983.80 per $1,000 note, reflecting selling commissions, hedging costs and the bank’s internal funding rate, so secondary market values may be lower than the issue price.
The Bank of Nova Scotia is offering Buffered Enhanced Participation Basket-Linked Notes that pay no interest and return principal and any gain at maturity based on a weighted basket of five equity indexes in Europe, Japan, the U.K., Switzerland and Australia. The notes have a term of about 22 to 25 months and a participation rate between 113.00% and 133.00% on positive basket performance. A 10.00% downside buffer protects principal against moderate declines, but below 90.00% of the initial basket level losses accelerate at approximately 1.1111% for each 1% drop, so investors can lose up to 100% of principal. The notes are unsecured senior obligations of The Bank of Nova Scotia, not insured by any deposit insurer, and will not be listed on an exchange. The initial estimated value is between $936.03 and $966.03 per $1,000, below the 100% issue price due to fees, hedging costs and the bank’s internal funding rate.
The Bank of Nova Scotia is offering unsecured Buffered Digital Basket-Linked Notes that pay no interest and mature in about 22–25 months. The notes are linked to a weighted equity index basket spanning the EURO STOXX 50®, TOPIX, FTSE® 100, Swiss Market Index and S&P/ASX 200.
At maturity, investors receive at least their $1,000 principal only if the basket decline does not exceed 10%. If the basket ends at or above its initial level, the payout is the greater of a threshold settlement amount, expected between $1,123.10 and $1,144.50 per $1,000, and full participation in the basket’s price gain.
If the basket falls more than 10%, losses accelerate at about 1.1111% for each additional 1% decline, up to a complete loss of principal. The initial estimated value is expected between $941.11 and $971.11 per $1,000, below the 100% issue price, reflecting selling commissions, hedging costs and the bank’s internal funding rate. The notes are not insured, will not be listed on an exchange and all payments depend on Scotiabank’s creditworthiness.
The Bank of Nova Scotia is offering senior unsecured “Market Linked Securities” that are auto-callable and linked to the lowest performer among Amazon, Microsoft and Netflix stock. Investors may receive a quarterly contingent coupon of at least 18.40% per annum if the lowest stock stays at or above 75% of its starting price on each calculation day.
The notes can be automatically called from August 2026 to November 2028 if the lowest stock is at or above its starting price, returning principal plus due coupons. If held to maturity and the lowest stock finishes below 75% of its starting price, investors lose more than 25%, up to all principal, and never participate in stock upside or dividends. The bank’s estimated value is between 90.411% and 93.411% of the $1,000 offering price, reflecting dealer discounts and hedging costs.
The Bank of Nova Scotia is offering three-year Contingent Income Auto-Callable Securities linked to the common stock of Broadcom Inc. Each $1,000 security can pay a quarterly contingent coupon of $33.70 (13.48% per annum) if Broadcom’s closing price on the determination date is at least 50% of the initial share price.
If on any non-final determination date Broadcom closes at or above 100% of the initial share price, the notes are automatically redeemed at $1,000 plus the due coupon (including any unpaid past coupons via a “memory” feature). If the final share price is below the 50% downside threshold and no auto-call has occurred, investors lose principal on a 1‑for‑1 basis with Broadcom’s decline and may lose their entire investment.
The securities are senior unsecured debt of BNS, not listed on an exchange, and all payments depend on BNS’s credit. Investors forgo Broadcom dividends, have no upside participation in the stock, and face limited liquidity and complex tax treatment.
The Bank of Nova Scotia is offering senior unsecured Contingent Income Auto-Callable Securities maturing around February 23, 2029, linked to Tesla, Inc. common stock. Each note has a $1,000 stated principal amount and pays a $32.50 quarterly contingent coupon (13.00% per annum) when Tesla’s closing price is at or above 50.00% of the initial share price.
The notes are automatically called at par plus the applicable coupon (including any “memory” coupons) if Tesla’s price on a determination date before maturity is at or above 100.00% of the initial price. If held to maturity and Tesla’s final price is below 50.00% of the initial price, investors lose principal 1-to-1 and may lose their entire investment. The notes are not listed, have an estimated initial value of $936.52–$966.52 per $1,000, and all payments depend on BNS’s credit.
The Bank of Nova Scotia is offering senior unsecured Contingent Income Auto-Callable Securities linked to the common stock of MongoDB, Inc. Each security has a stated principal amount of $1,000.
Investors may receive a contingent quarterly coupon of $43.75 per security (equivalent to 17.50% per annum) on any determination date when the MongoDB share price is at or above 50% of the initial share price. Missed coupons can be paid later under a memory feature if the threshold is later met.
If on any non-final determination date MongoDB’s share price is at or above 100% of the initial price, the notes are automatically called and pay principal plus the applicable coupon and any unpaid coupons, with no further payments.
At maturity, if the final share price is at or above 50% of the initial price, investors receive principal plus the applicable coupon and any unpaid coupons. If it is below 50%, repayment is reduced 1-for-1 with the stock decline, and the payment can be far below principal or zero, meaning investors can lose their entire investment.
All payments depend on BNS’s credit. The securities are not secured, not insured, not bail‑inable, and will not be listed. The estimated value on the pricing date is expected to be between $930.54 and $960.54 per $1,000, less than the issue price due to selling, structuring and hedging costs.
The Bank of Nova Scotia is issuing $617,000 of Capped Buffered Enhanced Participation Notes linked to the Russell 2000 Index, maturing on November 12, 2027. The notes offer 150% upside participation in index gains, capped at a maximum payment of $1,200 per $1,000 of principal.
If the index falls by up to 11% from the initial level of 2,670.338, investors receive full principal at maturity. Losses begin below this buffer, with 1% loss for each 1% drop beyond 11%, up to an 89% maximum loss. The notes pay no interest, are unsecured obligations subject to Scotiabank’s credit risk, and had an initial estimated value of $964.17 per $1,000, below the issue price. Underwriting commissions are 2.20%, leaving $603,426 in proceeds to the Bank.
The Bank of Nova Scotia is offering $1,865,000 of Trigger Autocallable Contingent Yield Notes linked to Amazon.com, Inc. common stock, maturing February 12, 2027. The notes pay a 10.25% per annum contingent coupon only when Amazon’s closing price is at or above a coupon barrier set at $136.71, equal to 65% of the $210.32 initial level.
The notes may be automatically called quarterly if Amazon’s closing level on an observation date is at or above the initial level, in which case investors receive principal plus the applicable contingent coupon and the notes terminate early. If the notes are not called and Amazon’s final level on the valuation date is at or above the $136.71 downside threshold, investors receive full principal at maturity.
If the notes are not called and Amazon’s final level is below the downside threshold, repayment is reduced dollar-for-dollar with Amazon’s percentage decline, and investors can lose all of their investment. The notes are unsecured obligations of BNS, are not insured, have limited or no secondary market liquidity, and their payments depend entirely on BNS’s creditworthiness.
The Bank of Nova Scotia is offering senior unsecured, equity‑linked notes tied to the worst performer of Datadog, Dell Technologies and Intel, maturing on February 16, 2029. Each $1,000 note pays a contingent monthly coupon at a rate of at least 21.75% per annum only when the lowest stock closes at or above 50% of its starting price on the monthly calculation day, with a memory feature that can pay previously missed coupons.
The notes are auto‑callable from August 2026 through January 2029 if the worst-performing stock is at or above its starting price, returning face value plus the due and unpaid coupons. If not called and the worst stock finishes below 50% of its starting price at final observation, investors are fully exposed to that decline and can lose more than half, up to all, of principal; upside in the stocks is not shared.
The securities are unsecured obligations of Scotiabank, carry no deposit insurance, are not listed on an exchange, and include selling discounts of $23.25 per $1,000. The bank’s estimated value is $884.15–$914.15 per $1,000, reflecting embedded costs and hedging profits.
The Bank of Nova Scotia is offering senior unsecured Market Linked Securities tied to the worst-performing of Microsoft, ServiceNow and Oracle, maturing in February 2028. Each security has a $1,000 face amount and pays no interest or dividends.
The notes may be automatically called in about one year if the lowest-performing stock is at or above its starting price, paying back $1,000 plus a call premium of at least 45%. If not called, and at maturity the lowest-performing stock is above its starting price, investors receive 300% of its price gain.
If at maturity the lowest-performing stock has fallen but remains at or above 50% of its starting price, investors receive a positive “absolute value” return capped at 50%. If it falls below 50%, investors are fully exposed to losses and can lose more than half, up to all, of principal. The preliminary estimated value is $900–$928.61 per $1,000 note. The notes are not listed, are intended to be held to maturity or call, and all payments depend on the credit of The Bank of Nova Scotia.
The Bank of Nova Scotia is offering $5,576,000 of Contingent Income Auto-Callable Securities due February 9, 2029, linked to the common stock of Delta Air Lines, Inc. Each security has a $1,000 principal amount and offers a contingent quarterly coupon of $25.70 per security (equivalent to 10.28% per annum) whenever the Delta share price on a determination date is at or above the downside threshold price of $37.675, which is 50% of the initial share price of $75.35.
If, on any determination date other than the final one, Delta’s closing price is at or above the call threshold price of $75.35, the notes are automatically redeemed at $1,000 plus the coupon, and no further payments are made. At maturity, if the final share price is at or above the downside threshold, investors receive $1,000 plus the final coupon. If the final share price is below the downside threshold, the maturity payment is $1,000 multiplied by the share performance factor, exposing investors 1‑for‑1 to the stock’s decline below the threshold.
The securities are principal-at-risk, senior unsecured debt of BNS, with an estimated value of $970.50 per $1,000 at pricing, lower than the issue price due to selling, structuring and hedging costs. Investors do not receive Delta dividends, do not participate in stock price appreciation, may receive few or no coupons, face limited liquidity, and are fully exposed to BNS credit risk, including the possibility of losing their entire investment.
The Bank of Nova Scotia is offering $13,742,000 of Contingent Income Auto-Callable Securities linked to Microsoft common stock, maturing February 9, 2029. These principal-at-risk notes can pay a quarterly coupon of $22.70 per $1,000 (9.08% per annum) if Microsoft’s share price on each determination date is at or above 75% of the initial share price.
The notes are automatically called, returning principal plus the applicable coupon and any unpaid “memory” coupons, if Microsoft’s share price is at or above 100% of the initial share price on any non-final determination date. If the final price is below 75% of the initial share price, repayment is reduced 1-for-1 with the stock decline and can be zero. Investors do not participate in any stock upside, forgo dividends, face BNS credit risk, limited liquidity, and could lose their entire investment.
The Bank of Nova Scotia is offering senior unsecured Autocallable Contingent Coupon Notes due February 28, 2029, linked to the common stock of Accenture plc. Each Note has a $1,000 principal amount and an original issue price of 100% of principal.
The Notes may be automatically called quarterly if Accenture’s closing value on a Call Observation Date is at or above its Initial Value, in which case holders receive $1,000 plus the applicable contingent coupon and the Notes terminate. If not called, quarterly contingent coupons of at least $35 per Note (≥14.00% per annum) are paid only when Accenture’s closing value is at or above 70% of the Initial Value.
At maturity, if the Notes have not been called and Accenture’s final value is at or above 70% of the Initial Value, holders receive the $1,000 principal (plus any contingent coupon due). If the final value is below this 70% barrier, repayment is reduced one-for-one with Accenture’s decline, and up to 100% of principal may be lost.
The Notes are unsubordinated, unsecured obligations of The Bank of Nova Scotia, not insured by CDIC or FDIC, and will not be listed on any exchange. The initial estimated value is expected between $927 and $957 per $1,000, reflecting structuring, distribution and hedging costs and the Bank’s internal funding rate.
The Bank of Nova Scotia is offering unsecured Autocallable Digital Buffer Notes linked to the S&P 500® Index, maturing in February 2028. The notes may be automatically called in February 2027 if the index is at or above its initial level, paying back principal plus a call premium of at least 8.48%.
If not called and the index on the final valuation date is at or above the initial level, holders receive principal plus the greater of a fixed digital return of at least 16.96% or the index gain. A 15% downside buffer applies; below that level, losses are magnified at about 1.1765% for each additional 1% decline, up to full principal loss.
The notes pay no interest, are not insured by CDIC or FDIC, and are subject to the Bank’s credit risk. The initial estimated value is expected between $950.03 and $980.03 per $1,000, below the 100% original issue price, and secondary market liquidity may be limited.
The Bank of Nova Scotia is offering unsecured, unsubordinated Autocallable Contingent Buffered Return Enhanced Notes linked to shares of the SPDR® Gold Trust (GLD), maturing in February 2028. Each Note has a $1,000 principal amount and a minimum investment of $10,000.
The Notes may be automatically called in February 2027 if GLD’s closing value is at or above 100% of its initial value, paying principal plus a Call Premium of at least $147.30 per Note (at least 14.73%). If not called and GLD finishes above its initial value at maturity, investors receive 125% of GLD’s positive price return.
If the Final Value is between 90% and 100% of the Initial Value, investors receive principal only. Below 90%, principal is reduced by about 1.1111% for each 1% drop beyond the 10% buffer, up to a total loss. The Notes pay no interest, are not listed, have an initial estimated value of $946.38–$976.38 per $1,000, and all payments depend on the Bank’s credit.
The Bank of Nova Scotia is offering senior unsecured Trigger Autocallable Notes linked to the Russell 2000® Index, maturing on or about February 19, 2031. Each Note has a $10 principal amount and is sold in minimum investments of 100 Notes (a $1,000 investment).
The Notes may be automatically called quarterly after 12 months if the index closes at or above the initial level. On a call date, investors receive the principal plus a call return based on an annualized rate expected between 8.20% and 9.20%, with higher total returns the longer the Notes remain outstanding.
If the Notes are not called and the final index level is at or above 75% of the initial level (the downside threshold), investors receive back the $10 principal. If the final level is below the downside threshold, repayment is reduced one-for-one with the index decline, and investors can lose their entire investment.
The initial estimated value per Note is expected between $9.25 and $9.55, below the $10 issue price, reflecting selling, structuring and hedging costs. The Notes make no interest payments, are not listed on an exchange, may have limited liquidity, and all payments depend on BNS’s creditworthiness.
The Bank of Nova Scotia is offering unsecured Autocallable Contingent Coupon Buffer Notes with Memory Coupon linked to the common stock of NVIDIA Corporation, maturing on March 3, 2027. Each Note has a $1,000 principal amount and a minimum investment of $10,000.
The Notes may be automatically called on quarterly Observation Dates if NVIDIA’s closing value is at least its Initial Value, returning principal plus a contingent coupon of at least $54.90 per Note and any unpaid coupons. If not called, coupons are paid only when NVIDIA’s closing value is at or above 80.00% of the Initial Value; missed coupons accrue as “Unpaid Contingent Coupons” but are only paid if a later coupon is earned.
At maturity, if the Notes are not called and NVIDIA’s Final Value is at least 80.00% of the Initial Value, holders receive full principal plus any due coupons. If the Final Value falls below that buffer, repayment is reduced by 1.25% of principal for each 1% decline beyond the 20% buffer, up to a total loss. The initial estimated value is expected between $953.96 and $983.96 per $1,000, below the issue price, and all payments are subject to the Bank’s credit risk.
The Bank of Nova Scotia is offering unsecured, unsubordinated senior notes linked to the shares of the SPDR® Gold Trust (ticker GLD). These one-year "Capped Notes" provide exposure to the price return of gold via GLD without any interim interest or coupon payments.
At maturity, investors receive $1,000 per Note plus or minus the Reference Asset Return, subject to a Maximum Return of at least 12.73%, so upside is capped. If GLD declines, losses match the negative return of GLD, but repayment will not be less than $950 per $1,000, limiting downside to 5%.
The Notes are expected to price on February 13, 2026, settle on February 19, 2026, and mature on March 3, 2027, a term of about 54 weeks. The minimum investment is $10,000 in $1,000 increments. The initial estimated value per $1,000 Note is expected between $956 and $986, below the 100% Original Issue Price, reflecting selling, structuring and hedging costs and the Bank’s internal funding rate.
Payments depend entirely on the creditworthiness of The Bank of Nova Scotia; the Notes are not insured by the CDIC, FDIC or any government agency and will not be listed on an exchange, so liquidity may be limited. Investors also face market risk tied to gold, management and structural risks of the SPDR® Gold Trust, potential conflicts of interest in hedging and pricing by affiliates, and complex Canadian and U.S. tax treatment, including treatment as contingent payment debt instruments for U.S. holders.
The Bank of Nova Scotia is offering 3-year autocallable contingent coupon notes with a memory feature linked to the least performing of Align Technology (ALGN), CarMax (KMX) and Progressive (PGR). The notes are senior, unsecured obligations of the bank and all payments depend on its credit.
The notes can be automatically called on designated observation dates if the closing value of each stock is at or above its initial value, paying back principal plus the due contingent coupon and any previously unpaid coupons. If not called, investors receive a contingent coupon of at least $18.5417 per $1,000 note (at least 22.25% per annum) on each observation date only when every stock is at or above 60% of its initial value; missed coupons accumulate but are paid only if a later coupon becomes payable.
At maturity, if the notes were not called and the worst-performing stock is at or above 60% of its initial value, principal is repaid plus any due coupons. If the worst stock finishes below this barrier, repayment is reduced one-for-one with its loss, up to a 100% loss of principal, and no unpaid coupons are received. The initial estimated value is expected between $923.19 and $953.19 per $1,000, below the issue price, reflecting internal funding and hedging costs. The notes are not listed, may have limited liquidity, and are not insured by CDIC or FDIC.
The Bank of Nova Scotia is offering $26.325 million of Enhanced Participation Basket‑Linked Notes due March 9, 2027. These unsecured senior notes do not pay interest and repay at maturity based on a weighted equity index basket rather than a fixed coupon.
The basket combines the EURO STOXX 50® (38%), TOPIX (26%), FTSE® 100 (17%), Swiss Market Index (11%) and S&P/ASX 200 (8%). The initial basket level is 100, set on February 5, 2026, with the final level observed on March 5, 2027. At maturity, each $1,000 note pays $1,000 plus 142.70% of any positive basket return, or $1,000 if the basket is unchanged.
If the final basket level is below the initial level, principal is reduced 1% for each 1% decline in the basket, with losses up to 100%. The notes are subject to Scotiabank’s credit risk, are not insured by Canadian or U.S. deposit insurance, and will not be listed on an exchange. The initial estimated value is $986 per $1,000, below the 100% issue price, reflecting selling commissions of 0.82% and hedging and structuring costs.
The Bank of Nova Scotia is offering senior unsecured “Trigger Jump Securities” linked to Amazon.com, Inc. common stock, with a stated principal amount of $1,000 per security and no interest payments.
If the final share price is at or above the initial share price, investors receive $1,000 plus a fixed upside payment of $436 (43.60%). If the final share price is below the initial but at or above 90% of the initial share price, investors receive $1,000. Below the 90% trigger level, repayment is reduced 1% for each 1% decline in the stock, and investors can lose their entire investment. The notes mature around February 16, 2028, are not listed on any exchange, and all payments depend on BNS’s credit. The estimated value on the pricing date is expected between $935.11 and $965.11 per $1,000.
The Bank of Nova Scotia is offering senior unsecured market-linked notes tied to Oklo Inc. common stock, with potential early redemption and contingent coupons. The securities can pay a high contingent coupon, at a rate set on the pricing date of at least 28.10% per annum, but only for months when Oklo’s stock closes at or above 50% of its starting price. Missed coupons may be paid later if the stock recovers above that level, due to a “memory” feature.
If on any monthly calculation day from August 2026 to January 2028 Oklo’s stock closes at or above the starting price, the notes are automatically called and pay back face amount plus the applicable coupons. If not called, investors receive $1,000 per security at maturity in February 2028 only if the final stock price is at least 50% of the starting price; otherwise, repayment is reduced in proportion to the stock’s decline, with losses greater than 50% and potentially all principal. The notes do not share in any stock gains or dividends and all payments depend on the credit of The Bank of Nova Scotia. An example estimated value, if priced today, would range from 90.00% to 92.68% of face amount, reflecting selling costs and hedging profits.
The Bank of Nova Scotia is offering unsecured, unsubordinated Autocallable Contingent Coupon Notes linked to the common stock of Netflix, Inc. Each Note has a $1,000 principal amount, a minimum investment of $1,000, and a term of about three years.
Investors may receive a contingent coupon of at least $32.50 per Note (at least 13.00% per annum) on scheduled dates if Netflix’s closing value is at or above 70% of its initial value. The Notes are automatically called if Netflix closes at or above its initial value on any call observation date.
If the Notes are not called and Netflix’s final value is below 70% of its initial value, repayment of principal is reduced one-for-one with the stock’s decline, up to a 100% loss of principal. The initial estimated value is expected between $931.06 and $961.06 per $1,000, below the issue price, reflecting dealer compensation, funding and hedging costs.
The Notes are not insured by CDIC or FDIC, will not be listed on any exchange, and depend entirely on the creditworthiness of The Bank of Nova Scotia. Extensive risk and tax disclosures highlight potential illiquidity, structural complexity and uncertain tax treatment.
The Bank of Nova Scotia is offering $10,689,200 of trigger autocallable notes linked to the EURO STOXX 50® Index, maturing on February 11, 2031. The notes pay no coupons but can be called quarterly after 12 months if the index closes at or above the initial level of 5,998.40, delivering a call price that reflects a 9.55% per annum call return rate.
If the notes are never called and the final index level is at or above the downside threshold of 4,498.80 (75% of the initial level), investors receive only their $10 principal per note. If the final level is below this threshold, repayment is reduced in line with the index loss, and investors can lose up to their entire investment. The notes are senior unsecured debt of BNS, not listed on any exchange, with an initial estimated value of $9.67 per $10 note and total issuer proceeds of $10,421,970 before hedging profits.
The Bank of Nova Scotia is offering three Trigger Autocallable Contingent Yield Notes totaling $7,838,000 linked to Boeing, $11,125,700 linked to Goldman Sachs and $20,088,500 linked to Microsoft, each issued at $10 per Note under its senior note program.
Investors receive quarterly contingent coupons only if the related stock stays at or above a preset barrier, and the notes may be automatically called after six months if the stock is at or above its initial level. If not called and the final stock price is below the downside threshold, repayment at maturity is reduced one-for-one with the stock’s decline, up to a total loss of principal. All payments depend on BNS’s credit.
The Bank of Nova Scotia is offering senior unsecured Market Linked Securities tied to the lowest performing of Apple, Amazon, Goldman Sachs and NVIDIA, maturing in February 2028. Each security has a $1,000 face amount and pays a contingent coupon at 13.44% per annum, paid monthly only if on each calculation day the lowest-performing stock closes at or above 50% of its starting price.
The notes are auto-callable from August 2026 to January 2028 if the lowest-performing stock is at or above its starting price, returning face amount plus the applicable coupon and any unpaid coupons. If not called, principal is protected at maturity only if the lowest-performing stock is at or above its 50% downside threshold. Below that level, investors are fully exposed to further declines and can lose more than half, up to all, of principal.
The Bank’s estimated value is $934.13 per $1,000 security, reflecting selling costs and hedging. The total offering is $3,206,000, the notes are not listed on any exchange, pay no dividends on the underlying stocks, and all payments are subject to the credit risk of The Bank of Nova Scotia.
The Bank of Nova Scotia is offering senior unsecured market-linked securities that pay a contingent monthly coupon of at least 22.00% per annum, linked to the worst performer of AMD, Intel, Micron and UnitedHealth Group. Coupons are paid only when the lowest performing stock is at or above 40% of its starting price, with a memory feature that can pay previously missed coupons.
The notes are auto-callable from August 2026 through January 2029 if the worst-performing stock is at or above its starting price, returning principal plus the applicable coupons. If not called, principal is protected at maturity only if the worst-performing stock is at or above 40% of its starting level; otherwise investors lose more than 60%, up to all, of principal. The Bank’s estimated value is $902.96–$932.96 per $1,000. The securities are unsecured, not CDIC/FDIC insured, and will not be listed on an exchange.
The Bank of Nova Scotia is offering Trigger Autocallable Contingent Yield Notes linked to the common stock of Amazon.com, Inc. These are one-year, senior unsecured notes with a $10 principal amount per note and a 10.25% per annum contingent coupon, paid quarterly if Amazon’s closing price is at or above the coupon barrier.
The initial level is $210.32, with both the coupon barrier and downside threshold set at $136.71, or 65% of that level. The notes auto-call if Amazon closes at or above the initial level on any observation date, returning principal plus the applicable coupon. If not called and Amazon finishes below the downside threshold, repayment is reduced one-for-one with Amazon’s decline, and investors can lose their entire investment. All payments depend on BNS’s credit.
The Bank of Nova Scotia is offering Enhanced Trigger Jump Securities linked to the common stock of Amazon.com, Inc. The notes mature on February 23, 2027 and have a stated principal amount and issue price of $1,000 per security.
The securities pay no interest and offer a fixed upside payment of $202.70 per security (20.27% of principal) if the final Amazon share price on the valuation date is at or above a trigger level set at 90.00% of the initial share price. In that case, investors receive $1,202.70 at maturity.
If the final share price is below the trigger level, the maturity payment is $1,000 plus $1,000 times the underlying return, so investors lose 1% of principal for each 1% decline from the initial share price, with no minimum repayment and potential loss of the entire investment. The notes are senior unsecured debt of BNS, not insured, not bail-inable, and all payments depend on BNS’s credit. The estimated value on the pricing date is expected to range from $940.60 to $970.60 per $1,000, reflecting structuring and distribution costs and BNS’s internal funding rate. The securities will not be listed, and liquidity may be limited.
The Bank of Nova Scotia is issuing senior unsecured Market Linked Securities under its Series A program, tied to the lowest performing of Datadog, Intel, Oracle and UnitedHealth common stock, and due February 9, 2029. Each $1,000 note pays a 25.10% per annum contingent coupon monthly only if the lowest performing stock on that calculation day is at or above 50% of its starting price, with a memory feature for previously missed coupons. From August 2026 to January 2029, the notes are automatically called at par plus applicable coupons if the lowest stock is at or above its starting price. If not called and the lowest stock finishes below 50% of its starting price on the final calculation day, investors lose more than 50%, up to all, of principal; upside in the stocks is not shared. The notes are offered at $1,000 with an estimated value of $916.48 per note and a total offering of $3,282,000, will not be exchange‑listed, and are subject to Scotiabank’s credit and lack deposit insurance.
The Bank of Nova Scotia is offering $11,167,000 of senior unsecured capped notes linked to the shares of the SPDR® Gold Trust, maturing on February 24, 2027. These notes provide exposure to the price return of gold via GLD without any interim interest payments.
At maturity, investors receive $1,000 per note plus the reference asset return, capped at a 13.66% maximum return, so the payment cannot exceed $1,136.60 per $1,000. If GLD finishes below its initial value of $455.46, repayment is reduced one-for-one with the decline, but not below $950 per note, limiting loss to 5% of principal.
The notes are subject to the Bank’s credit risk, are not insured by CDIC or FDIC, and will not be listed on any exchange, so liquidity may be limited. The initial estimated value was $988.42 per $1,000, below the 100% issue price, reflecting structuring, distribution and hedging costs.
The Bank of Nova Scotia is offering $1,065,000 of autocallable contingent coupon notes linked to JPMorgan Chase & Co. common stock. Each note has a $1,000 principal amount and can pay an 8.00% per annum contingent coupon, or $20 per quarter, but only when JPMorgan’s stock closes at or above a preset barrier.
The notes may be automatically called on quarterly observation dates if the stock closes at or above the initial value of $322.40, returning $1,000 plus the coupon, with no further payments. If held to maturity on February 9, 2029 and not called, investors receive full principal only if the final stock price is at or above the 70% barrier of $225.68. Below this level, repayment is reduced one-for-one with the stock decline, up to a total loss of principal.
The notes are senior unsecured obligations of The Bank of Nova Scotia, not insured by any government agency, and depend entirely on the bank’s credit. The initial estimated value is $964.63 per $1,000, reflecting structuring, distribution and hedging costs; net proceeds to the issuer are $1,043,700 after $21,300 of underwriting commissions.
The Bank of Nova Scotia is offering $9,345,000 of Dual Directional Capped Buffered Notes linked to the S&P 500 Index, maturing February 10, 2028. These unsecured senior notes have a $1,000 denomination, minimum investment of $10,000, and pay no interest before maturity.
If the index finishes at or above its initial level of 6,932.30, investors gain the index’s positive return, capped at a 17.05% maximum upside (up to $1,170.50 per note). If the index ends between 80% and 100% of its initial level, investors earn the absolute value of the loss, up to $1,200 per note. Below 80%, losses are magnified: investors lose 1.25% of principal for each 1% drop beyond the 20% buffer, potentially losing their entire investment.
The initial estimated value is $979.36 per $1,000, below the 100% issue price, reflecting internal funding and hedging costs. The notes are not listed, may have limited liquidity, and all payments are subject to Scotiabank’s credit risk.
The Bank of Nova Scotia is offering $9,775,000 of autocallable digital buffer notes linked to Microsoft common stock, maturing on February 10, 2028. The notes may be automatically called on February 19, 2027 if Microsoft’s closing price is at least the initial value of $401.14, paying $1,142.90 per $1,000 note (a 14.29% call premium). If not called and Microsoft ends at or above the initial value at maturity, investors receive $1,000 plus the greater of a fixed 28.58% digital return or the stock’s positive performance. A 15% downside buffer applies; below that level, principal losses increase at about 1.1765% for each additional 1% decline, up to total loss. The notes pay no interest, are unsecured obligations of the Bank, will not be listed, and had an initial estimated value of $970.75 per $1,000, below the issue price.
The Bank of Nova Scotia is issuing $21,684,000 of unsecured Autocallable Contingent Coupon Buffer Notes linked to NVIDIA Corporation common stock, maturing on February 24, 2027. Each Note has a $1,000 principal amount and an Original Issue Price of 100%.
The Notes can be automatically called quarterly if NVIDIA’s closing price on an Observation Date is at or above the Initial Value of $185.41, returning principal plus a $52.60 contingent coupon and any unpaid coupons. Contingent coupons are only paid when NVIDIA’s price is at or above 80% of the Initial Value (the $148.33 barrier), and investors may receive few or no coupons.
If not called, principal repayment depends on NVIDIA’s price on the Final Valuation Date. If it is at or above the 80% buffer level, investors receive full principal; if below, losses increase at 1.25% for each 1% decline beyond the 20% buffer, up to a full loss of principal. The Notes are unsecured obligations subject to Scotiabank’s credit risk, will not be listed, and had an initial estimated value of $979.46 per $1,000, below the issue price.
The Bank of Nova Scotia is issuing $280,000 of senior unsecured Autocallable Contingent Coupon Notes due February 9, 2029, linked to the common stock of Intuitive Surgical, Inc.
The notes pay a contingent coupon of $21.875 per $1,000 (8.75% per annum) on scheduled observation dates only if Intuitive Surgical’s share price is at or above $341.71, which is 70% of the $488.15 initial value. On any observation date before maturity, if the share price is at or above the initial value, the notes are automatically called and repay principal plus that period’s coupon.
If not called and the final value on the valuation date is at or above the $341.71 barrier, investors receive principal back (plus any due coupon). If it is below the barrier, repayment is reduced one-for-one with the stock’s decline from the initial value, up to a 100% loss of principal. The initial estimated value is $957.46 per $1,000, reflecting fees and hedging costs. The notes are not listed, do not pay fixed interest, and all payments depend on Scotiabank’s credit.
The Bank of Nova Scotia is issuing $549,000 of Autocallable Contingent Coupon Notes due February 9, 2029, linked to Tesla, Inc. stock. These senior unsecured notes pay a contingent coupon of $34.375 per $1,000 (13.75% per year) only when Tesla’s closing price on specified observation dates is at or above $205.56, which is 50% of the $411.11 initial value.
The notes can be automatically called on quarterly dates if Tesla closes at or above the initial value, returning $1,000 per note plus the applicable coupon and ending the investment. If the notes are not called and Tesla’s final value is at or above the $205.56 barrier, investors receive their $1,000 principal per note, plus any due coupon. If the final value is below the barrier, repayment is reduced one-for-one with Tesla’s decline from the initial value, and investors can lose their entire principal.
The notes are unsecured obligations of Scotiabank, are not insured by CDIC or FDIC, and will not be listed on an exchange. The bank’s initial estimated value is $962.47 per $1,000, below the 100% issue price, reflecting internal funding, structuring and hedging costs, and potential dealer compensation.
The Bank of Nova Scotia is offering $1,150,000 of Autocallable Contingent Coupon Notes due February 9, 2029, linked to Apple Inc. common stock. The notes are senior unsecured debt of the bank and all payments depend on its creditworthiness.
Investors receive a contingent coupon of $19.25 per $1,000 note (7.70% per annum) only if Apple’s closing price on each observation date is at or above the barrier of $194.68, set at 70% of the $278.12 initial value. The notes are automatically called, returning principal plus the coupon, if Apple closes at or above the initial value on any call observation date.
If the notes are not called and Apple’s final value is at or above the barrier, investors receive only principal plus any due coupon; there is no upside participation in stock gains. If the final value is below the barrier, repayment is reduced 1% for each 1% stock decline from the initial value, up to a total loss of principal. The initial estimated value is $967.30 per $1,000, below the issue price, reflecting hedging and distribution costs. The notes are not listed, may have limited liquidity, and are not insured by CDIC or FDIC.
The Bank of Nova Scotia is offering $1,000 face amount senior unsecured market-linked securities tied to the common stock of Oklo Inc., maturing on or about February 25, 2028.
The notes pay a monthly contingent coupon at a rate of at least 28.10% per annum, but only when Oklo’s stock closes on the relevant calculation day at or above a coupon threshold set at 50% of the starting price. Missed coupons can be “remembered” and paid later if the threshold is met.
From August 2026 to January 2028, if Oklo’s stock closes at or above the starting price on a calculation day, the notes are automatically called for $1,000 plus the applicable coupon and any unpaid coupons. If not called, investors receive $1,000 at maturity only if the final stock price is at or above a downside threshold equal to 50% of the starting price; otherwise, repayment is reduced in proportion to the stock decline, leading to a loss of more than 50%, and up to all, of principal. The securities do not participate in any upside of Oklo’s stock, pay no dividends, are not listed, and all payments are subject to Bank of Nova Scotia credit risk. The Bank’s estimated value is between 89.472% and 92.472% of the $1,000 offering price, reflecting selling costs and hedging.
The Bank of Nova Scotia is offering senior unsecured Market Linked Securities that are auto-callable and linked to the worst performer of Micron Technology, Sandisk Corporation and Western Digital common stocks, maturing in February 2029. Each security has a $1,000 face amount.
Investors may receive a high contingent coupon, at a rate of at least 35.00% per annum, paid monthly only if the lowest performing stock on each calculation day is at or above 50% of its starting price. Missed coupons can be paid later if conditions are again met, but coupons can be zero for the entire term.
From August 2026 through January 2029, if the lowest performing stock is at or above its starting price on a calculation day, the notes are automatically called at par plus the applicable coupon(s). If not called, principal is protected only if the lowest performing stock on the final calculation day is at or above 50% of its starting price; otherwise, investors lose more than 50%, up to all, of principal. Estimated value is between $917.58 and $947.58 per $1,000, and the securities are not listed and carry the Bank’s credit risk.