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 Trigger Autocallable Contingent Yield Notes linked to the least performing of the Russell 2000® Index and EURO STOXX 50® Index. Each Note has a $10 principal amount and a contingent coupon rate between 7.50% and 7.75% per annum, payable quarterly only if both indices are at or above coupon barriers set at 75% of their initial levels.
The Notes can be automatically called quarterly after 12 months if both indices are at or above their initial levels, returning principal plus the contingent coupon. If not called and any index finishes below its downside threshold (also 75% of initial level), repayment is reduced in line with the worst index’s loss, up to a total loss of principal. The term is approximately 10 years, the minimum investment is 100 Notes ($1,000), and the initial estimated value is $8.71–$9.01 per $10, below the $10 issue price. Payments depend entirely on BNS’s credit, and the Notes will not be listed on an exchange.
The Bank of Nova Scotia is offering Dual Directional Buffered Performance Leveraged Upside Securities (“Buffered PLUS”) linked to the shares of the SPDR® Gold Trust (GLD), maturing on or about February 17, 2028. These are senior unsecured notes with a $1,000 stated principal amount each and pay no coupons.
If the final GLD share price is above the initial price, investors receive $1,000 plus 200.00% of the positive return, capped at a maximum upside gain of 31.30%, or $1,313.00 per note. If GLD is down by up to the 10.00% buffer, investors get an unleveraged positive return equal to that decline, up to a 10.00% gain. If GLD falls more than 10.00%, investors lose 1% of principal for each additional 1% drop, with a minimum payment at maturity of $100.00, meaning up to 90.00% of principal can be lost.
The notes are subject to BNS credit risk, are not insured, and will not be listed on an exchange. The initial estimated value on the pricing date is expected to be between $930.12 and $960.12 per $1,000, reflecting underwriting discounts, structuring fees and hedging costs.
The Bank of Nova Scotia is offering senior unsecured market-linked notes due February 8, 2029, linked to the lowest performing of AvalonBay Communities, BXP and Equity Residential common stocks. The securities pay a quarterly contingent coupon only if the lowest-performing stock is at or above 80% of its starting price, with a coupon rate of at least 16.10% per year.
The notes are auto-callable from August 2026 to November 2028 if the lowest-performing stock is at or above its starting price, returning face amount plus a final coupon. If the notes are not called and the lowest-performing stock ends below 80% of its starting price, investors lose more than 20% and up to all principal. The Bank’s estimated value is $888.76–$918.76 per $1,000 note, they are not insured by CDIC or FDIC, and are not exchange listed.
The Bank of Nova Scotia is offering $677,000 of market-linked, auto-callable notes tied to the ARK Innovation ETF. Each security has a $1,000 face amount, pays no interest, and may be automatically called on scheduled dates if the ETF’s closing price is at least 80% of the starting price.
If called, investors receive principal plus a fixed call premium ranging from 8.60% to 25.80% of face value depending on the call date. If never called and the ETF falls more than the 20% buffer, repayment is reduced 1-to-1 with losses, with up to 80% of principal at risk. The Bank’s estimated value is $942.70 per $1,000 note, reflecting embedded fees and hedging costs. The notes are unsecured obligations of BNS, not insured, and are not listed, so liquidity may be limited.
Bank of Nova Scotia is offering 2,993,368 Autocallable Strategic Accelerated Redemption Securities linked to the S&P 500 Index, with a $10 principal amount per unit and total public offering price of $29,913,680.
The notes can be automatically called on six annual observation dates if the Index is at or above the Starting Value of 6,969.01, paying fixed call amounts from $10.685 up to $14.110 per unit. If never called and the Index ending level is at or above 85% of the Starting Value (the Threshold Value of 5,923.66), investors receive principal back; below that threshold, losses match Index declines beyond 15%, putting up to 85% of principal at risk.
The notes pay no periodic interest, do not provide dividends on S&P 500 stocks, carry an initial estimated value of $9.65 per unit (below issue price), and are senior unsecured obligations of BNS, not insured by CDIC, FDIC or any other agency, with limited expected secondary market liquidity.
The Bank of Nova Scotia is offering $2,022,000 of Buffered Index-Linked Notes tied to the S&P 500 Index, maturing May 4, 2027. These unsecured senior notes pay no interest; all return comes at maturity from index performance between January 29, 2026 and April 29, 2027.
For each $1,000 note, investors participate one-for-one in S&P 500 gains up to a maximum payoff of $1,085 (an 8.5% cap). If the index falls by up to 10% from the initial level of 6,969.01, investors earn the absolute move as a positive return, up to $1,100. If the index drops more than 10%, losses match the decline beyond that buffer, up to a 90% loss of principal.
The notes will not be listed and may have limited or no secondary market. The initial estimated value is $968.11 per $1,000, below the issue price, reflecting fees and hedging costs. Repayment depends entirely on the creditworthiness of The Bank of Nova Scotia.
The Bank of Nova Scotia is offering 994,359 Autocallable Strategic Accelerated Redemption Securities linked to the EURO STOXX 50 Index, at a public offering price of $10 per unit, for a total offering of $9,928,590.
The notes can be automatically called on scheduled observation dates if the Index is at or above the starting level of 5,891.95, paying fixed call amounts from $10.842 up to $15.052 per unit (call premiums up to 50.52%). If the notes are not called and the Index ends at or above the threshold value of 5,008.16 (85% of the starting level), investors receive their $10 principal.
If the notes are not called and the Index falls below the threshold, principal is exposed 1-to-1 to further declines, with up to 85% of principal at risk. The notes pay no periodic interest, have limited secondary market liquidity, and all payments depend on BNS’s credit. The initial estimated value is $9.56 per unit, below the $10 issue price, reflecting underwriting discounts and hedging-related charges.
The Bank of Nova Scotia is offering $1,953,000 of Autocallable Trigger Notes linked to the Nasdaq-100 Index and Russell 2000 Index, maturing on February 3, 2028 unless called earlier.
The notes pay no interest. If on January 29, 2027 both indices are at or above their initial levels (25,884.29 for the Nasdaq-100 and 2,654.776 for the Russell 2000), the notes are automatically called and pay 110% of principal. If not called, at maturity investors get 250% of the gain of the worst-performing index if both finish above initial levels, full principal if both stay at or above 75% of initial, and lose 1% of principal for each 1% the worst index finishes below its initial level if any index ends under 75%, up to total loss.
The notes are unsecured, unsubordinated obligations of Scotiabank, not insured by any deposit insurer. The initial estimated value is $941.18 per $1,000, below the 100% issue price, reflecting funding, hedging, underwriting commissions of 2.55% and a structuring fee, and may lead to lower secondary market prices and limited liquidity.
The Bank of Nova Scotia is offering senior unsecured market-linked securities tied to the SPDR Gold Trust. Each note has a $1,000 face amount, pays no periodic interest and matures on February 1, 2030.
At maturity, holders receive $1,000 plus 100% of any positive GLD price change from the $495.90 starting price, capped at a 31.50% maximum return, for a maximum payment of $1,315 per note. If the fund ends at or below the starting price, the maturity payment is $1,000.
The notes are subject to the credit risk of the Bank, are not insured, and will not be listed on an exchange, so liquidity may be limited. The original offering totals $1,865,000, with proceeds to the Bank of $1,793,663.75. The Bank’s estimated value is $940.71 per $1,000 note, reflecting selling costs and hedging. U.S. tax treatment is as contingent payment debt instruments, creating taxable original issue discount income over the life of the notes.
The Bank of Nova Scotia is issuing $2,250,000 of S&P 500®-linked digital notes due March 31, 2027. The notes pay no interest and are unsecured senior debt.
At maturity, investors receive $1,090.10 per $1,000 if the S&P 500® closing level on March 29, 2027 is at least 90.00% of the initial level of 6,969.01. If the index falls more than 10% from the initial level, repayment declines at an accelerated buffer rate of about 111.11% of losses beyond that threshold, and investors can lose up to their entire principal. The initial estimated value is $984.65 per $1,000, below the issue price, and any payment depends on the creditworthiness of The Bank of Nova Scotia.
The Bank of Nova Scotia is issuing $10 Autocallable Strategic Accelerated Redemption Securities linked to the Russell 2000 Index, totaling 3,469,186 units with a public offering price of $34,691,860. The notes may be automatically called after about one, two, or three years if the index closes at or above the 2,654.776 starting level on an observation date.
If called, investors receive $11.195, $12.390, or $13.585 per unit, depending on which observation date triggers the call, and no further payments. If never called and the index ends below the starting level, repayment is reduced 1-for-1 with index declines, putting up to 100% of principal at risk. There are no interest payments or dividends, and all amounts depend on BNS’s creditworthiness.
The Bank of Nova Scotia is offering $1,834,000 of Capped Buffered Index-Linked Notes tied to the worst performer of the Russell 2000 and S&P 500, maturing August 3, 2027. The notes pay no interest and are unsecured senior debt of the bank.
At maturity, investors receive $1,000 plus 120% of the least-performing index’s gain, capped at a maximum payment of $1,192.50 per $1,000. A 10% downside buffer applies, but if the worst index falls more than 10%, principal losses match the excess decline, up to a 90% loss.
The initial estimated value is $955.14 per $1,000, below par, reflecting fees and hedging costs. Underwriting commissions are 2.10% of principal, with issuer proceeds of $1,795,486. The notes are not listed, provide no dividends, and all payments depend on Scotiabank’s creditworthiness.
The Bank of Nova Scotia is issuing autocallable contingent coupon trigger notes linked to the shares of the VanEck Semiconductor ETF. The total offering is $1,154,000, in $1,000 denominations, maturing on May 4, 2027, unless automatically called earlier.
Holders may receive contingent coupons of $25.625 per quarter per $1,000 note (2.5625% quarterly, up to 10.25% per annum) only if the ETF’s closing price on an observation date is at least 70.00% of the initial price of $417.52. The notes can be automatically called starting in July 2026 if the ETF closes at or above the initial price on a call observation date.
At maturity, if not called, principal is fully repaid only if the final price is at least 70.00% of the initial price; below that level, losses match the ETF’s negative performance and can reach 100% of principal, with no coupon. The notes are unsecured, unsubordinated obligations of The Bank of Nova Scotia, not listed on any exchange, and their payments depend entirely on the Bank’s creditworthiness. The initial estimated value is $954.00 per $1,000 note, below the original issue price.
The Bank of Nova Scotia is issuing senior unsecured market-linked securities tied to a 50/50 basket of the EURO STOXX 50® and S&P 500® indices, maturing on August 2, 2029. Each security has a $1,000 face amount and pays no periodic interest or dividends.
At maturity, investors receive at least $1,000, plus 100% of any basket gain, capped at a 24.00% maximum return, for a maximum payment of $1,240 per security. If the basket is flat or down, only the face amount is repaid. The Bank’s estimated value on the pricing date is $957.29 (95.729%) per security, reflecting selling costs and hedging profits that may depress secondary market prices.
The notes are unsecured obligations of The Bank of Nova Scotia, not insured by CDIC or FDIC, and are not listed on any exchange, so liquidity may be limited. Total initial offering is $1,956,000, with agents receiving discounts and concessions from the offering price.
The Bank of Nova Scotia is offering Capped Buffered Enhanced Participation Notes linked to the Russell 2000® Index, maturing on November 12, 2027. Each note has a $1,000 principal amount and pays no interest.
At maturity, if the index is above its initial level, investors gain 150% of the index’s price return, capped by a maximum payment expected to be at least $1,200 per $1,000. If the index is flat or down by up to 11%, investors receive their principal back. If it falls more than 11%, investors lose 1% of principal for each additional 1% decline, and could lose up to 89% of principal.
The notes are senior unsecured obligations of The Bank of Nova Scotia, not insured by CDIC or FDIC, and will not be listed on an exchange. The initial estimated value is expected to be between $925 and $955 per $1,000, reflecting fees, hedging costs and the bank’s internal funding rate.
The Bank of Nova Scotia plans to issue principal-at-risk structured notes linked to the iShares Bitcoin Trust ETF. Each $1,000 security offers a contingent monthly coupon of $16.00 (equivalent to 19.20% per annum) if the ETF’s closing price is at or above 80% of the $47.49 initial share price.
The notes are auto-callable if the ETF closes at or above 100% of the initial share price on any monthly determination date, returning $1,000 plus due coupons. If held to maturity and the final share price is below the 80% downside threshold, investors lose 1.25% of principal for every 1% decline and can lose their entire investment.
The Bank of Nova Scotia is offering market-linked “Capped Notes with Absolute Return Buffer” tied to the Russell 2000® Index. Each note has a $10 principal amount, a term of about 14 months, and provides 1‑to‑1 upside exposure to Index gains, capped at a 12.00% maximum return.
If the Index ends below its starting level but at or above a threshold between 88.00% and 93.00% of that level, investors receive a positive return equal to the absolute value of the Index decline. Below the threshold, principal is lost on a 1‑to‑1 basis, with up to 88.00%–93.00% of principal at risk. The notes pay no periodic interest, all cash flows occur at maturity, and payments are subject to the senior unsecured credit risk of BNS.
The initial estimated value is expected to range from $9.189 to $9.489 per unit, below the $10.00 public offering price, reflecting an underwriting discount of $0.175 per unit and a hedging‑related charge of $0.05 per unit. The notes will not be listed on any exchange and secondary market liquidity is expected to be limited.
The Bank of Nova Scotia is offering $28,414,600 of Buffer Autocallable GEARS, senior unsecured notes linked to the Russell 2000® Index, at $10 per Security under its Senior Note Program.
The notes run for about three years and may be automatically called on February 5, 2027 if the index closes at or above the initial level of 2,613.743. In that case, holders receive the call price of $11.53 per Security, reflecting a 15.30% call return, and the investment ends early.
If the notes are not called and the index finishes above the initial level on the final valuation date, maturity payment equals $10 × (1 + underlying return × 1.10 upside gearing). If the final index level is between 95% and 100% of the initial level, investors receive their $10 principal. Below the 95% downside threshold, principal is reduced after a 5% buffer, and losses can approach nearly the full investment.
The Securities pay no interest, offer no dividends from index constituents, and rely entirely on BNS’s credit for repayment. They are not insured by Canadian or U.S. deposit insurance and are not bail-inable under the CDIC Act. The initial estimated value is $9.78 per Security, below the $10 issue price, reflecting structuring, distribution and hedging costs. The notes will not be listed, and secondary market liquidity is expected to be limited.
The Bank of Nova Scotia is offering $1,083,000 of unsubordinated, unsecured Autocallable Contingent Coupon Notes with Memory Coupon linked to the common stock of Broadcom Inc. Each Note has a $1,000 principal amount and matures February 3, 2028, unless automatically called earlier.
The Notes can be automatically called if Broadcom’s share price on a Call Observation Date is at or above the Initial Value of $331.30, returning principal plus any due contingent coupons. Investors may receive contingent coupons of $31.875 per Note (12.75% per annum) only when Broadcom stays at or above the 50.00% barrier of $165.65. If not called and Broadcom finishes below the barrier, investors receive 3.0184 Broadcom shares per Note (subject to rounding) instead of principal and can lose up to 100.00% of their investment. The initial estimated value is $959.70 per $1,000, and all payments are subject to Scotiabank’s credit risk.
The Bank of Nova Scotia is issuing $4,489,000 of unsecured Autocallable Contingent Coupon Notes due February 1, 2029, linked to Coinbase Global, Inc. common stock.
The notes pay a contingent coupon of $55.625 per $1,000 note (22.25% per annum) on scheduled dates only if Coinbase’s closing price is at or above the barrier value of $116.84 (60% of the $194.74 initial value). The notes are automatically called, returning principal plus that period’s coupon, if on any call observation date Coinbase closes at or above the initial value.
If not called and Coinbase’s final value is at or above the barrier, investors receive principal back (plus any due coupon). If the final value is below the barrier, repayment is reduced one-for-one with Coinbase’s decline from the initial value, up to a complete loss of principal. The initial estimated value is $949.15 per $1,000, below the issue price, and all payments are subject to Scotiabank’s credit risk.
The Bank of Nova Scotia is issuing $5,795,000 of unsecured Autocallable Contingent Coupon Notes due February 1, 2029, linked to Oracle Corporation common stock. The notes pay a contingent coupon of $56.25 per $1,000 (22.50% per annum) only when Oracle’s closing value on an observation date is at or above a barrier set at 70.00% of the initial price of $164.58, or $115.21. The notes may be automatically called if Oracle’s price on any call observation date is at or above the initial value, returning principal plus the coupon for that period. If not called and Oracle finishes below the barrier, repayment is reduced one‑for‑one with the stock’s loss, up to a total loss of principal. The notes are senior unsecured obligations of BNS, are not listed on any exchange, and had an initial estimated value of $942.30 per $1,000, below the issue price.
The Bank of Nova Scotia is offering $1,150,000 of senior unsecured Autocallable Contingent Coupon Notes linked to the Energy Select Sector SPDR Fund (XLE). The notes have a $1,000 minimum denomination, priced at 100% of principal, and mature on February 2, 2029 unless called earlier.
Investors may receive a contingent coupon of $17.50 per note (7.00% per annum) on scheduled observation dates if XLE’s closing value is at or above the contingent coupon barrier of $35.74, equal to 70% of the initial value of $51.05. The same 70% level is the barrier value used at maturity.
If on any call observation date XLE is at or above its initial value, the notes are automatically called at $1,000 per note plus the applicable coupon, and no further payments are made. If the notes are not called and XLE finishes below the barrier, repayment of principal is reduced one-for-one with XLE’s loss, up to a total loss of the $1,000 principal.
The notes are senior unsecured obligations of the Bank, not insured by CDIC or FDIC, and will not be listed on any exchange. The Bank’s initial estimated value is $966.43 per $1,000, reflecting structuring, distribution and hedging costs, so secondary market values may initially be below the issue price.
The Bank of Nova Scotia is issuing $1,251,000 of autocallable contingent coupon buffer notes linked to KLA Corporation common stock, maturing February 18, 2027. The notes pay a contingent coupon of $44.625 per $1,000 note on scheduled dates if KLA’s closing price is at or above 75% of its initial level.
The notes are automatically called early if KLA closes at or above its initial value on any observation date, returning principal plus due coupons. If held to maturity and KLA is below a 25% buffer (75% of initial), repayment is reduced with a downside leverage of about 1.3333, and investors can lose all principal. The notes are unsecured obligations of Scotiabank, not listed on an exchange, have a $10,000 minimum, and had an initial estimated value of $972.28 per $1,000, below the issue price.
The Bank of Nova Scotia is issuing $1,778,000 of senior unsecured Autocallable Contingent Coupon Notes due February 2, 2029, linked to the common stock of Micron Technology, Inc. The notes are subject to the Bank’s credit risk and are not insured by CDIC or FDIC.
Investors receive a 24.60% per annum contingent coupon ($61.50 per $1,000 note per quarter) only if Micron’s share price is at or above 50% of its initial value on observation dates. If not automatically called and Micron finishes below the 50% barrier, principal losses match Micron’s decline, up to a total loss.
The Bank of Nova Scotia is offering $4,903,000 of senior, unsecured Autocallable Contingent Coupon Notes linked to the common stock of Ford Motor Company, maturing on February 3, 2028.
The notes pay a contingent coupon of $24.125 per $1,000 note (9.65% per annum) on scheduled observation dates only if Ford’s closing price is at or above the barrier of $8.33, which equals 60% of the $13.88 initial share value. The notes are automatically called, returning principal plus that period’s coupon, if Ford’s price on any call observation date is at or above the initial value.
If the notes are not called and Ford’s final share value is below the barrier, investors receive 72.0461 Ford shares per note (subject to rounding and cash for fractions) instead of cash and can lose up to 100% of principal. The initial estimated value is $969.87 per $1,000. The notes are not listed, do not pay guaranteed interest, and all payments are subject to the credit risk of The Bank of Nova Scotia.
The Bank of Nova Scotia is issuing $1,600,000 of unsecured Autocallable Contingent Coupon Notes due February 1, 2029, linked to the common stock of NIKE, Inc. Each $1,000 note pays a contingent coupon of $30.00 per quarter (12.00% per annum) only when NIKE’s closing value is at or above the 70.00% barrier on observation dates.
The notes are automatically called, returning principal plus the applicable coupon, if NIKE’s closing value on any call observation date is at or above the $61.81 initial value. If not called and NIKE’s final value is below the $43.27 barrier, repayment of principal is reduced one-for-one with NIKE’s decline and investors can lose up to 100% of principal.
The notes are senior unsecured obligations of Scotiabank, not insured by Canadian or U.S. deposit insurance, and will not be listed on an exchange. The original issue price is 100% of principal, with 2.00% underwriting commissions; Scotiabank’s initial estimated value is $955.90 per $1,000 note.
The Bank of Nova Scotia is issuing $1,022,000 of unsubordinated, unsecured autocallable contingent coupon notes linked to the common stock of Netflix, Inc. The notes mature on February 2, 2029, unless automatically called earlier.
Investors receive a contingent coupon of 13.00% per annum ($32.50 per $1,000) only if Netflix’s closing value on an observation date is at or above the contingent coupon barrier of $58.44, which is 70% of the initial value of $83.49. The same level also serves as the downside barrier.
The notes are automatically called if Netflix’s closing value on any call observation date is at or above the initial value, returning principal plus the applicable contingent coupon. If the notes are not called and Netflix’s final value is below the barrier, the maturity payment is reduced one-for-one with the stock’s decline from the initial value, and investors can lose up to 100% of principal.
The minimum investment is $1,000. The Bank’s initial estimated value is $966.26 per $1,000, below the 100% issue price, reflecting internal funding, distribution costs and hedging. The notes will not be listed on any exchange, all payments depend on the creditworthiness of Scotiabank, and there may be little or no secondary market.
The Bank of Nova Scotia is offering $4,555,000 of autocallable contingent coupon trigger notes linked to Eli Lilly common stock, maturing on March 4, 2027. Investors receive a monthly contingent coupon of $9.875 per $1,000 (0.9875%, up to 11.85% per year) only when Eli Lilly’s share price is at least 70% of the $1,023.80 initial price on each observation date.
Beginning in July 2026, the notes are automatically called if the stock closes at or above the initial price on a call observation date, returning $1,000 plus that period’s coupon. If the notes are not called and the final price is at least 70% of the initial price, holders receive $1,000 plus the last coupon at maturity. If the final price is below 70%, repayment is reduced one-for-one with the stock’s decline from the initial level, and investors can lose up to their entire principal with no final coupon.
The notes are unsecured, unsubordinated obligations of The Bank of Nova Scotia, are not insured by any deposit insurance agency, and will not be listed on an exchange. The initial estimated value is $972.62 per $1,000, lower than the issue price because of commissions, structuring fees and hedging costs.
The Bank of Nova Scotia is offering autocallable contingent coupon trigger notes linked to NVIDIA Corporation stock, maturing on August 17, 2027. Investors receive a monthly contingent coupon of $9.417 per $1,000 (about 11.30% per year) only when NVIDIA’s share price on an observation date is at least 53% of the initial price.
Starting in August 2026, the notes are automatically called if NVIDIA’s price on a call observation date is at or above the initial price, returning $1,000 plus that month’s coupon. If the notes are not called and NVIDIA’s final price is below 53% of the initial price, investors receive NVIDIA shares worth less than 53% of principal and no final coupon, meaning a large or total loss of principal is possible.
The notes are unsecured, unsubordinated obligations of The Bank of Nova Scotia, not listed on any exchange, and carry both market risk tied to NVIDIA and credit risk of the bank. The initial estimated value is expected between $925 and $955 per $1,000, reflecting embedded fees and hedging costs.
The Bank of Nova Scotia is offering senior unsecured Trigger Autocallable GEARS notes linked to an unequally weighted basket of five major equity indices: EURO STOXX 50 (40%), Nikkei 225 (25%), FTSE 100 (17.50%), Swiss Market Index (10%) and S&P/ASX 200 (7.50%). Each Security has a $10 principal amount, with a minimum investment of $1,000. The notes can be automatically called after about one year if the basket is at or above the initial basket level, paying a call price equal to principal plus a 13.00% call return. If not called, at maturity investors receive principal plus any positive basket return multiplied by upside gearing of 1.72–1.92, return of principal if the basket is at or above a 75.00% downside threshold, or a loss matching the negative basket return if the basket finishes below that threshold, up to total loss of principal. The initial estimated value is expected to be $9.25–$9.55 per $10, and all payments depend on BNS’s credit.
The Bank of Nova Scotia is offering unsecured Enhanced Participation Basket-Linked Notes tied to a weighted basket of five equity indices in Europe, Japan, the UK, Switzerland and Australia. The notes pay no interest and mature about 13–15 months after the trade date.
At maturity, investors receive $1,000 plus leveraged upside if the basket is above its initial level, with a participation rate between 130.00% and 153.00%. If the basket is flat, only principal is returned. If the basket falls, losses are 1% for every 1% decline, up to a total loss of principal.
The initial estimated value is expected between $940.00 and $970.00 per $1,000, below the 100% issue price, reflecting selling commissions, hedging costs and the bank’s internal funding rate. The notes are not listed, do not pay dividends, 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 worst-performing of Apple, Amazon.com, Goldman Sachs and NVIDIA through February 10, 2028. Each security has a $1,000 face amount.
The notes pay a monthly contingent coupon at a rate of at least 13.44% per annum only if the lowest-performing stock on each calculation day closes at or above 50% of its starting price. Missed coupons can be recovered later via a “memory” feature if the test is passed on a future date.
From August 2026 to January 2028, the notes are automatically called if the lowest-performing stock is at or above its starting price, returning face amount plus the current and any unpaid coupons. If not called, principal is protected at maturity only if the worst stock is at or above 50% of its starting price; otherwise investors are fully exposed to downside and can lose more than 50%, up to all, of principal.
The bank’s estimated value is $916.24–$946.24 per $1,000, reflecting embedded dealer spread and hedging costs. The securities carry Scotiabank credit risk, pay no dividends, will not be listed on an exchange, and may have limited or no secondary market liquidity.
The Bank of Nova Scotia is offering $9,114,820 of senior unsecured Trigger Autocallable Contingent Yield Notes linked to the least performing of the SPDR® S&P 500® ETF Trust (SPY) and the Energy Select Sector SPDR® Fund (XLE), maturing on February 1, 2029.
The notes pay a contingent coupon at a 9.75% per annum rate (about $0.2438 per quarter per $10 note) only if, on each observation date, both ETFs close at or above their coupon barriers, set at 70% of initial levels ($485.83 for SPY and $35.36 for XLE). The notes are automatically called on quarterly dates after six months if both ETFs are at or above their initial levels, returning principal plus the applicable coupon.
If not called, and on the final valuation date either ETF is below its downside threshold (also 70% of its initial level), repayment is reduced in line with the worst ETF’s percentage loss, and investors could lose their entire principal. Payments are subject to BNS credit risk, the notes will not be listed, and the initial estimated value is $9.52 per $10 note, below the issue price.
The Bank of Nova Scotia is offering market-linked, senior unsecured notes tied to the worst performer of four industrial stocks: Axon, Boeing, Booz Allen Hamilton, and Howmet Aerospace. The total original offering is $1,146,000, priced at $1,000 per security.
The notes pay a 17.25% per annum contingent coupon monthly only if the lowest-performing stock on each observation date stays at or above 50% of its starting price. From July 2026 to December 2028, the notes auto-call at par plus coupon if the lowest stock is at or above its starting price.
If not called, principal is protected only down to a 50% downside threshold; a lower final price for the worst stock causes losses greater than 50% and potentially a total loss of principal. The Bank’s estimated value is $898.49 per note, below the $1,000 issue price, reflecting dealer compensation and hedging costs, and the notes are not listed and carry full Bank of Nova Scotia credit risk.
The Bank of Nova Scotia is offering Trigger Autocallable GEARS, which are senior unsecured notes linked to the Russell 2000® Index, maturing on or about February 18, 2031. Each Security has a $10 principal amount, with a minimum investment of $1,000.
The notes may be automatically called on February 22, 2027 if the index closes at or above its initial level, paying a call price of $11.10 per Security, reflecting an 11.00% call return, and then terminate with no further payments. If not called, at maturity investors receive upside exposure to the index, with positive returns multiplied by upside gearing between 1.41 and 1.61.
If the notes are not called and the final index level is at or above 75% of the initial level, principal is repaid. If the final level is below this downside threshold, repayment is reduced one-for-one with the index loss, and investors can lose their entire principal. The notes pay no interest, are not insured, will not be listed on an exchange, and all payments depend on BNS’s creditworthiness. The initial estimated value per $10 Security is expected to be between $9.34 and $9.64, lower than the issue price due to selling, structuring and hedging costs.
The Bank of Nova Scotia is offering $600,000 of Autocallable Contingent Buffered Return Enhanced Notes linked to an equally weighted basket of SPDR® Gold Trust and iShares® Silver Trust ETFs. The notes are unsecured, unsubordinated obligations and all payments depend on the Bank’s credit.
The notes may be automatically called on February 10, 2027 if the basket is at or above 100.00% of its initial value, paying $1,280.50 per $1,000 note (a 28.05% call premium). If held to February 3, 2028 and the basket is above its initial value, investors receive 125.00% of the basket’s positive return.
A 15.00% downside buffer applies; below 85.00% of the initial basket value, principal loss increases at about 1.1765% for each additional 1% decline, up to total loss. The notes pay no interest, won’t be listed on an exchange, and the initial estimated value is $954.47 per $1,000, below the 100% issue price. Underwriting commissions are 1.50%, leaving $591,000 in proceeds to the Bank.
The Bank of Nova Scotia is offering senior unsecured Contingent Income Auto-Callable Securities linked to the common stock of Microsoft Corporation, maturing on or about February 9, 2029. Investors receive a contingent quarterly coupon of $22.70 per $1,000 security (equivalent to 9.08% per annum) for each determination date when Microsoft’s closing price is at least 75% of the initial share price.
If on any non-final determination date Microsoft’s closing price is at least 100% of the initial share price, the notes are automatically redeemed at par plus the applicable contingent coupon and any unpaid coupons under the memory feature. If the notes are outstanding to maturity and the final share price is at least 75% of the initial share price, investors receive principal plus the contingent coupon and any unpaid coupons. If the final share price is below 75% of the initial share price, repayment is reduced 1-for-1 with Microsoft’s decline and can be zero, meaning investors may lose their entire investment.
The notes pay no regular interest, do not participate in any upside of Microsoft shares, and forgo dividends. They are subject to the full credit risk of BNS. The estimated value on the pricing date is expected to be between $940.38 and $970.38 per $1,000 security, below the issue price.
The Bank of Nova Scotia is offering unsubordinated, unsecured autocallable contingent coupon notes linked to the common stock of Broadcom Inc. The notes pay a contingent coupon of at least $31.875 per $1,000 (at least 12.75% per annum) on specified dates if Broadcom’s closing value is at or above a barrier.
The notes can be automatically called on quarterly observation dates if Broadcom’s price is at or above the initial value, returning the $1,000 principal plus due and unpaid coupons. If not called and Broadcom ends below a 50% barrier, holders receive Broadcom shares (or cash for fractions) worth less than principal and may lose up to 100% of their investment.
The initial estimated value is expected to be between $932.04 and $962.04 per $1,000, reflecting internal funding and hedging costs versus the 100% original issue price, including underwriting commissions of up to 1.75%. All payments are subject to Scotiabank’s credit risk, and the notes will not be listed on an exchange.
The Bank of Nova Scotia is offering $15,491,270 of Trigger Autocallable Notes linked to the Russell 2000® Index, with a term of about five years and a principal amount of $10 per Note. The Notes can be automatically called quarterly after 12 months if the index closes at or above the initial level of 2,653.546, paying the principal plus a call return based on an 8.65% per annum call return rate, up to 43.250% (a $14.3250 call price per Note) if held to the final date.
If the Notes are not called and the final index level is at or above the downside threshold of 1,990.160 (75% of the initial level), investors receive only their $10 principal back, with no gain. If the final level is below the downside threshold, repayment is $10 × (1 + underlying return), so losses mirror the index decline and can reach 100% of principal. The Notes pay no interest, do not participate in any upside beyond the call return, are unsecured obligations exposed to BNS credit risk, will not be listed, and have limited liquidity. The initial estimated value is $9.623 per $10 Note, below the issue price, and the tax treatment is complex and uncertain.
The Bank of Nova Scotia is issuing $4,295,000 of Autocallable Contingent Coupon Trigger Notes linked to Best Buy Co., Inc. stock, maturing March 4, 2027. The initial price is $65.74, with a 70% coupon barrier and trigger level.
Investors can receive a monthly contingent coupon of $12.667 per $1,000 (1.2667%, about 15.20% per year) if Best Buy’s closing price on an observation date is at or above 70% of the initial price. The notes are automatically called if, from July 2026 to January 2027, Best Buy closes at or above the initial price on a call observation date, paying $1,000 plus the coupon.
If the notes are not called and Best Buy’s final price on March 1, 2027 is below 70% of the initial price, the payoff is $1,000 plus $1,000 times the stock’s return, leading to losses of 1% for every 1% decline and up to a total loss of principal, with no coupon. Payments depend on the creditworthiness of The Bank of Nova Scotia. The initial estimated value is $964.22 per $1,000, reflecting fees, structuring and hedging costs.
The Bank of Nova Scotia is offering unsecured Capped Buffered Return Notes linked to the S&P 500® Index, maturing on February 27, 2031, in $1,000 denominations. The notes pay no interest and all payments occur at maturity.
If the S&P 500 Final Value is above its Initial Value, investors receive $1,000 plus the positive index return, capped by a Maximum Return of at least 57.15% (illustrated maximum payment of $1,571.50 per $1,000 Note). If the Final Value is at or below the Initial Value but at or above the Buffer Value of 85% of the Initial Value, repayment is $1,000.
If the Final Value falls below the Buffer Value, repayment is reduced by losses beyond the 15% buffer, and investors may receive as little as $150 per $1,000 Note, losing up to 85% of principal. The initial estimated value is $911.16–$941.16 per $1,000, below the 100% issue price, and underwriting commissions are up to 3.50%. The notes will not be listed, may have limited liquidity, and are subject to the Bank’s credit risk and complex tax treatment.
The Bank of Nova Scotia is issuing $5,018,000 of Autocallable Contingent Coupon Trigger Notes linked to the common stock of NVIDIA Corporation, maturing on March 4, 2027. These are unsecured, unsubordinated senior notes of the Bank.
Investors receive a 1.00% monthly contingent coupon ($10 per $1,000) only when NVIDIA’s closing price on an observation date is at least 59% of the $188.52 initial price. The notes may be automatically called from July 2026 through January 2027 if NVIDIA closes at or above the initial price, returning $1,000 per note plus the applicable coupon.
If not called, principal repayment at maturity depends on NVIDIA’s final price. If it is at least 59% of the initial price, investors receive $1,000 plus the final coupon. If it is below 59%, repayment is reduced one-for-one with NVIDIA’s decline, down to a possible total loss of principal, with no final coupon. Payments are subject to the Bank’s credit risk. The initial estimated value is $969.51 per $1,000, reflecting fees, commissions and hedging costs.
The Bank of Nova Scotia is offering unsecured, unsubordinated Autocallable Contingent Coupon Notes linked to the common stock of Ford Motor Company, with a $1,000 principal amount per note and a term to February 3, 2028 if not called early.
The notes can be automatically called on scheduled observation dates if Ford’s closing share price is at or above the initial value, in which case investors receive $1,000 plus the applicable contingent coupon. If not called, investors receive contingent coupons of at least $24.125 per note (at least 9.65% per annum) only on observation dates when Ford’s price is at or above 60% of the initial value.
At maturity, if the final Ford share price is at or above a 60% barrier, investors receive full principal back (plus any due coupon). If it is below the barrier, investors receive shares of Ford equal to the physical delivery amount and can lose up to 100% of principal. The initial estimated value is expected to be between $936.30 and $966.30 per $1,000, reflecting internal funding and hedging costs, and the notes will not be listed on any exchange.
The Bank of Nova Scotia is offering unsecured, unsubordinated Autocallable Contingent Coupon Notes due February 3, 2028 linked to the common stock of Broadcom Inc. Each Note has a $1,000 principal amount and an original issue price of 100% of principal.
The Notes pay a contingent coupon of at least 12.75% per annum (about $31.875 per quarter per Note) only if Broadcom’s closing value on each observation date is at or above a 50% barrier of the initial stock price; otherwise no coupon is paid. The same 50% level serves as both the contingent coupon barrier and principal protection barrier.
The Notes are automatically called if Broadcom’s closing value on any call observation date is at or above its initial value, returning principal plus the applicable coupon, with no further payments. If not called and Broadcom finishes below the 50% barrier at maturity, investors receive Broadcom shares (or cash for fractions) worth less than principal and can lose up to 100% of their investment. The initial estimated value is expected between $932.04 and $962.04 per $1,000, reflecting fees, funding and hedging costs, and the Notes will not be listed, leaving liquidity dependent on the dealer.
The Bank of Nova Scotia is offering Buffer Autocallable GEARS, unsecured senior notes linked to the Russell 2000® Index, maturing around February 2, 2029. Each Security has a $10 principal amount, upside gearing of 1.10 and a 5% downside buffer.
The notes may be automatically called on February 5, 2027 if the index is at or above its initial level, paying a call price equal to principal plus a call return based on a rate of 15.00%–15.30%, after which no further payments are due. If not called, maturity payments depend on index performance: investors gain leveraged upside for positive returns, receive principal back if losses are within the 5% buffer, and suffer increasing losses beyond that, potentially losing almost all of their investment.
The Securities pay no interest, are subject to BNS credit risk, will not be listed on an exchange, and have an initial estimated value of $9.48–$9.78 per $10 issue price due to selling, structuring and hedging costs.
The Bank of Nova Scotia is offering $2,406,000 of senior unsecured digital notes linked to the EURO STOXX 50® Index, maturing on December 10, 2027. The notes pay no interest and are not listed on any exchange.
For each $1,000 note, if the index on the December 8, 2027 valuation date is at least 85% of the initial level of 5,994.59, investors receive a fixed $1,155 (a 15.5% capped gain). If the index has fallen more than 15%, repayment is reduced by about 1.1765% for every 1% drop beyond that buffer, up to a total loss of principal. The initial estimated value is $991.30 per $1,000, below the issue price, and all payments depend on Scotiabank’s credit.
The Bank of Nova Scotia is offering Dual Directional Buffered Performance Leveraged Upside Securities (“Buffered PLUS”) linked to the Russell 2000® Index, maturing on or about March 3, 2028. Each security has a $1,000 stated principal amount and pays no coupons.
If the final index value is above the initial value, investors receive $1,000 plus 150% of the index gain, capped at a maximum upside gain of 18.58%, or $1,185.80 per Buffered PLUS. If the index is down by up to the 15.00% buffer, investors receive a positive return equal to the absolute decline, up to a 15.00% gain.
If the index falls by more than 15.00%, repayment is reduced 1% for each additional 1% decline and investors can receive as little as $150.00 (15.00% of principal), implying up to an 85.00% loss of principal. The securities are senior unsecured debt of BNS, fully subject to its credit risk, will not be listed on any exchange, and have an estimated initial value between $936.83 and $966.83 per $1,000.
The Bank of Nova Scotia is offering unsecured, unsubordinated structured notes linked to an equally weighted basket of the SPDR Gold Trust and iShares Silver Trust, maturing in February 2028. Any payments depend on the Bank’s credit.
The notes may be automatically called in February 2027 if the basket is at or above 100% of its initial level, paying back principal plus a fixed call premium of $280.50 per $1,000 note (28.05%). If not called and the final basket value is above the initial level, investors receive 125% of the basket’s positive performance.
If the final basket value is between 85% and 100% of the initial level, investors receive principal only. Below 85%, losses are magnified: investors lose about 1.1765% of principal for each 1% drop beyond the 15% buffer, up to a total loss. The notes pay no interest, are not listed, and the initial estimated value is expected to be below the $1,000 issue price.
The Bank of Nova Scotia is offering $12,000,000 of senior unsecured structured notes linked to the SPDR® S&P 500® ETF Trust. Each $1,000 security can pay a contingent monthly coupon of $10.30 (12.36% per annum) if SPY closes at or above 95% of the $692.73 initial share price on a determination date.
The notes are auto-callable if SPY is at or above 100% of the initial share price on any non-final determination date, returning principal plus applicable coupons. If held to maturity and SPY finishes below the 95% downside threshold, investors lose about 1.0526% of principal for every 1% SPY falls below that level and can lose their entire investment. The notes mature on February 1, 2027, are not listed, and all payments are subject to BNS credit risk. The estimated value on the pricing date is $995.60 per $1,000.
The Bank of Nova Scotia is offering $5,000,000 of Autocallable Dual Directional Barrier Notes linked to the S&P 500® Index, maturing on February 2, 2028. The Notes are senior, unsecured obligations and any payment depends on the Bank’s credit.
The Notes pay no interest. They are automatically called on February 9, 2027 if the S&P 500 closing value is at or above the Initial Value of 6,978.60, returning $1,091.50 per $1,000 note (a 9.15% premium) on February 12, 2027. If not called, investors participate at 150% of any positive index performance at maturity.
If the Final Value is below the Initial Value but at or above the Barrier Value of 5,582.88 (80% of the Initial Value), the payoff reflects the absolute percentage decline, capped at $1,200 per $1,000 note. If the Final Value falls below the Barrier Value, principal is reduced one-for-one with the index loss and up to 100% of capital can be lost. The Notes will not be listed, require a minimum $10,000 investment, and had an initial estimated value of $982.15 per $1,000, below the 100% issue price.