Bank of Nova Scotia 424B Filings

The Bank of Nova Scotia is offering Dual Directional Trigger PLUS notes linked to the iShares Silver Trust shares, maturing around June 3, 2027. These unsecured senior notes pay no interest and all payments depend on BNS’s credit.

At maturity, investors get 200% leveraged upside if the final share price is above the initial level, capped at a maximum payment of $1,433.90 per $1,000 note, a 43.39% gain. If the final price is at or below the initial level but at or above 65% of it, investors receive principal plus an unleveraged positive return equal to the absolute percentage decline, up to 35%. Below the 65% trigger level, losses match the underlying’s decline and investors can lose their entire principal. The estimated value on the pricing date is expected between $912.41 and $942.41 per $1,000, less than the issue price.

The Bank of Nova Scotia is offering senior unsecured Contingent Income Auto-Callable Securities linked to the common stock of Delta Air Lines, Inc., maturing on or about February 9, 2029. Each security has a $1,000 stated principal amount and pays a contingent quarterly coupon of $25.70 (10.28% per year) per security on any determination date when Delta’s closing price is at or above 50% of the initial share price, the downside threshold.

If on any non-final determination date Delta’s price is at or above 100% of the initial share price, the call threshold, the notes are automatically redeemed for $1,000 plus the contingent 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 contingent coupon. If the final share price is below the downside threshold, repayment equals $1,000 multiplied by the share performance factor, exposing investors 1-to-1 to Delta’s decline and potentially reducing the payment to zero.

These notes do not guarantee principal, do not participate in any upside of Delta’s stock, pay no dividends, and have limited liquidity. All payments depend on BNS’s credit, and the estimated value on the pricing date is expected to be between $938.54 and $968.54 per $1,000, less than the issue price due to fees, structuring costs and BNS’s internal funding rate.

The Bank of Nova Scotia is offering senior unsecured Market Linked Securities tied to the lowest performer of the S&P 500 Index, Russell 2000 Index and Nasdaq‑100 Index, each $1,000 face amount, maturing on February 28, 2030.

Investors may receive a contingent coupon, paid quarterly at a rate set on the pricing date of at least 8.25% per annum, but only if on each calculation day the lowest performing index is at or above 70% of its starting level. From August 2026 to November 2029, if on any calculation day the lowest index closes at or above its starting level, the notes are automatically called at par plus that quarter’s coupon.

If the notes are not called, at maturity holders receive $1,000 only if the lowest index is at or above its 70% downside threshold. If it is below, repayment is reduced in line with the decline, leading to losses of more than 30% and up to all principal. The notes do not participate in index gains or pay dividends, are not listed, and all payments are subject to the credit risk of The Bank of Nova Scotia. The Bank’s estimated value is between 91.634% and 94.634% of the $1,000 offering price, reflecting selling costs and hedging profits.

The Bank of Nova Scotia is offering senior unsecured Market Linked Securities tied to the worst performer of three sector ETFs: Energy Select Sector SPDR, Technology Select Sector SPDR and Health Care Select Sector SPDR. Each note has a $1,000 face amount and matures in March 2029, with potential automatic calls from August 2026 to November 2028 if the lowest-performing fund is at or above its starting price.

The notes pay a quarterly contingent coupon at a rate of at least 11.50% per annum only when the lowest-performing fund is at or above 75% of its starting price on the relevant calculation day. If not called, principal is fully returned at maturity only if the lowest-performing fund is at or above 70% of its starting price; below that level, repayment falls in line with the fund’s decline, with losses that can reach 100% of principal. Investors do not participate in any upside of the funds and receive no dividends.

The preliminary estimated value is $902.38–$932.38 per $1,000 note, below the original offering price, reflecting selling commissions, hedging costs and dealer profits. The notes are not listed on an exchange, may trade at a discount, and all payments are subject to the credit risk of The Bank of Nova Scotia.

The Bank of Nova Scotia plans to issue unsecured Autocallable Contingent Coupon Trigger Notes linked to the VanEck Semiconductor ETF (SMH), maturing in June 2027. These notes can be redeemed early if SMH closes at or above its initial price on quarterly call dates from August 2026 to February 2027.

Holders may receive quarterly contingent coupons of at least $32.50 per $1,000 note (at least 3.25% per quarter, up to at least 13.00% per year) only when SMH is at or above 70% of its initial price on an observation date. If the notes are not called and SMH’s final price is below 70% of the initial level, repayment is reduced dollar-for-dollar with the ETF’s decline, up to a complete loss of principal and no coupon. The notes are not FDIC- or CDIC-insured, will not be listed on an exchange, pay no dividends, and all payments depend on Scotiabank’s credit. The initial estimated value is expected between $925 and $965 per $1,000 note, below the issue price due to fees, structuring and hedging costs.

The Bank of Nova Scotia is offering Capped Buffered Enhanced Participation Notes linked to the Russell 2000® Index, maturing in December 2027. The notes pay no interest and repay at maturity based on index performance between the trade and valuation dates.

Investors receive 150% of any positive index return, capped at a maximum payment amount expected to be at least $1,232.50 per $1,000 note. A 10% downside buffer applies: losses begin if the index falls more than 10%, with losses of 1% for each additional 1% decline, up to a 90% principal loss. The initial estimated value is expected between $925 and $965 per $1,000, below issue price, and any payment depends on Scotiabank’s credit.

The Bank of Nova Scotia is offering autocallable trigger notes linked to the Nasdaq-100 Index and Russell 2000 Index, maturing in March 2028. The notes pay no interest and are unsecured senior debt.

The notes auto-call in March 2027 if both indices are at or above their initial levels, returning principal plus a call premium expected to be at least 14.75%. If not called, maturity payment depends on the worse-performing index: investors get 250% of its positive gain, principal back if it stays at or above 75% of its initial level, or a one-for-one loss if it falls below that trigger. Investors can lose up to their entire investment, and all payments depend on Scotiabank’s credit. Initial estimated value is between $925 and $965 per $1,000, below the issue price due to fees, funding and hedging costs.

The Bank of Nova Scotia is offering Capped Buffered Enhanced Participation Notes linked to the Russell 2000 Index, maturing on December 1, 2027. These unsecured senior notes pay no interest and repay at maturity based on index performance between an expected February 26, 2026 trade date and a November 26, 2027 valuation date.

For each $1,000 note, investors receive 150% of any positive index return, capped by a maximum payment amount expected to be at least $1,200. If the index falls up to 10%, principal is returned. Below a 10% decline, losses match the index drop beyond that buffer, up to a 90% loss of principal.

The initial estimated value is expected between $925 and $965 per $1,000, reflecting internal funding, underwriting commissions of up to 2.20% and structuring fees. The notes are not listed, have limited liquidity, and all payments depend on the creditworthiness of The Bank of Nova Scotia.

The Bank of Nova Scotia is offering autocallable trigger notes linked to the worst performer of the Nasdaq-100 Index and the Russell 2000 Index, maturing in March 2028. The notes pay no interest and will be automatically called in 2027 if both indices are at or above their initial levels, returning principal plus a call premium expected to be at least 10.75%.

If not called, holders get 250% of the positive return of the weaker index if both finish above their initial levels. If any index finishes between 75% and 100% of its initial level, only principal is returned. If any index ends below 75% of its initial level, losses match the percentage decline of the worst index, up to a total loss. The initial estimated value is expected between $925 and $965 per $1,000, below issue price, and all payments depend on Scotiabank’s credit.

The Bank of Nova Scotia is offering market-linked, senior unsecured notes that pay a contingent quarterly coupon of at least 8.00% per annum, but only when the lowest of the S&P 500, Russell 2000 and Dow Jones Industrial Average closes at or above 75% of its starting level on each calculation day.

The notes are auto-callable quarterly from August 2026 through November 2029 if the lowest-performing index is at or above its starting level, in which case investors receive the $1,000 face amount plus a final coupon. If the notes are not called and, on the final calculation day in February 2030, the lowest-performing index is below 75% of its starting level, investors lose more than 25% and up to all of principal.

The preliminary estimated value is between 91.683% and 94.683% of the $1,000 price, reflecting selling costs and hedging profits, and the notes are designed to be held to maturity with no stock upside or dividends, full index downside below the threshold, complex tax treatment and exposure to the credit risk of The Bank of Nova Scotia.

The Bank of Nova Scotia is offering Capped Buffered Enhanced Participation Notes linked to the S&P 500® Index, with a term of about 22 to 25 months and no interest payments. At maturity, investors receive $1,000 per note plus 160% of any index gain, but returns are capped at an expected $1,186.72 to $1,219.52 per $1,000.

If the S&P 500® falls by up to 12.50%, investors receive their principal back. If it falls by more than 12.50%, principal is reduced at about 1.1429% for every additional 1% decline, potentially resulting in a total loss. The initial estimated value is expected between $958.80 and $988.80 per $1,000, reflecting fees and the bank’s internal funding rate. The notes are unsecured obligations of The Bank of Nova Scotia, not listed on an exchange, and subject to the bank’s credit risk.

The Bank of Nova Scotia is offering $16,985,000 of Trigger Autocallable Contingent Yield Notes linked to the least performing of the Nasdaq-100 Index and EURO STOXX 50 Index. The notes pay a 7.50% per annum contingent coupon only if both indices stay at or above 75% of their initial levels on quarterly observation dates.

The notes may be automatically called after 12 months if both indices are at or above their initial levels, returning principal plus the due coupon. If not called and any index finishes below its 75% downside threshold at maturity in 2036, investors lose principal in line with the worst index, up to a total loss. The notes are unsecured BNS debt, not listed, with an initial estimated value of $9.066 per $10 note and a $1,000 minimum investment.

The Bank of Nova Scotia is offering senior unsecured, auto-callable equity-linked securities tied to the common stock of Oklo Inc., maturing in February 2027. Each note has a $1,000 face amount and is designed to pay high contingent coupons rather than fixed interest.

Investors may receive monthly coupons at a rate of at least 29.25% per annum, but only when Oklo’s stock closes on the calculation day at or above the coupon threshold, set at 50% of the starting price. Missed coupons have a “memory” feature and can be paid later if the stock recovers above the threshold. From August 2026 through January 2027, the notes can be automatically called at par plus any due coupons if Oklo’s stock closes at or above the starting price.

If the notes are not called, principal is protected only if the final stock price is at or above the same 50% downside threshold. If the final price is below that level, repayment is reduced in line with Oklo’s decline, and investors can lose more than half, up to all, of principal. The bank’s estimated value per $1,000 security would be between $918.16 and $948.16, reflecting dealer compensation and hedging costs, and the notes are not listed and carry the issuer’s credit risk.

The Bank of Nova Scotia is offering Trigger Autocallable Contingent Yield Notes linked to the least performing of the Russell 2000® Index and the EURO STOXX 50® Index. Each Note has a $10 principal amount and a term of approximately five years.

The Notes pay a quarterly contingent coupon at an annual rate between 7.80% and 8.30% only if both indices are at or above 70% of their initial levels on the relevant observation date. The Notes may be automatically called after 12 months if both indices are at or above their initial levels, in which case investors receive $10 plus the coupon and the Notes terminate.

If not called, and at maturity both indices are at or above their 70% downside thresholds, investors receive the $10 principal. If any index is below its downside threshold, repayment is reduced in line with the loss of the worst-performing index, up to a total loss of principal. The initial estimated value is expected between $9.01 and $9.31 per $10 Note, the Notes will not be listed, and all payments depend on BNS credit risk.

The Bank of Nova Scotia is offering senior unsecured market-linked notes tied to the common stock of NVIDIA Corporation. Each security has a $1,000 face amount and no periodic interest payments or dividends.

The notes are auto-callable after about one year. If NVIDIA’s stock closing price on the call date is at or above the starting price, investors receive $1,000 plus a call premium of at least 21.45%, and the notes terminate early. After an automatic call, investors do not participate in any further stock gains.

If not called, the maturity payment in 2029 depends on NVIDIA’s final stock price. Above the starting price, investors receive $1,000 plus 150% of the stock’s percentage gain. Between 60% and 100% of the starting price, they receive only the $1,000 face amount. Below 60% of the starting price, repayment falls one-for-one with the stock decline, so investors can lose more than 40% and up to all principal.

The securities will not be listed on any exchange and are designed to be held to maturity or automatic call. All payments are subject to the credit risk of The Bank of Nova Scotia. The bank estimates the initial value at 93.146%–96.146% of the $1,000 offering price, reflecting selling costs and hedging profits.

The Bank of Nova Scotia is offering unsecured Buffered Enhanced Participation Notes due March 2, 2028, whose payoff depends on the least performing of the iShares MSCI EAFE ETF and the EURO STOXX 50 Index.

The notes pay no interest. At maturity, if both reference assets finish above their initial levels, investors receive principal plus a leveraged gain based on a participation rate expected to be at least 153%. If any asset finishes below its initial level but at or above 90% of it, investors receive only principal. If any asset finishes below 90% of its initial level, principal is reduced one-for-one beyond the 10% buffer, with losses up to 90% of principal possible. Initial estimated value is between $925 and $965 per $1,000, below issue price, and upfront structuring and distribution fees, including up to 0.80% in dealer compensation, are embedded. Repayment depends on the creditworthiness of The Bank of Nova Scotia, and the notes will not be listed or provide dividends or voting rights.

The Bank of Nova Scotia is issuing $14,058,000 of unsecured Autocallable Contingent Coupon Trigger Notes linked to Oracle Corporation common stock, maturing on March 4, 2027. The notes pay a monthly contingent coupon of $11.25 per $1,000 (1.125%, up to 13.50% per year) when Oracle’s closing price on an observation date is at or above 56.00% of the $174.90 initial price.

Starting July 2026, the notes are automatically called if Oracle’s price on a call observation date is at or above the initial price, returning $1,000 plus the applicable coupon. If not called, principal is fully repaid only if the final Oracle price on March 1, 2027 is at or above the 56.00% trigger. Below that level, repayment is reduced one-for-one with Oracle’s decline, down to total loss of principal, and no final coupon is paid. The initial estimated value is $958.24 per $1,000, below the issue price, and payments depend entirely on the credit of Bank of Nova Scotia; the notes will not be listed and may have limited liquidity.

The Bank of Nova Scotia is offering senior unsecured Autocallable Contingent Coupon Notes linked to the Energy Select Sector SPDR Fund (XLE), maturing on February 2, 2029. The notes are expected to price on January 30, 2026 and settle on February 4, 2026.

Holders may receive a contingent coupon of at least 7.00% per annum, paid quarterly, but only if XLE’s closing value on each observation date is at or above 70% of the initial value. If XLE is at or above the initial value on any observation date, the notes are automatically called at par plus the applicable contingent coupon.

If the notes are not called and XLE’s final value is below the 70% barrier, repayment of principal is reduced one-for-one with the decline in XLE, and up to 100% of principal may be lost. The initial estimated value is expected between $938.64 and $968.64 per $1,000 principal amount, below the issue price, and the notes will not be listed, limiting liquidity.

The Bank of Nova Scotia is offering $525,000 of capped buffered return notes linked to the S&P 500® Index, maturing on January 30, 2031. Each $1,000 note provides equity-linked upside up to a 56.15% maximum return and 15% downside protection through a buffer.

If the index finishes above its initial level of 6,978.60, investors receive the positive index return in cash, capped at $1,561.50 per note. If the final index level is between 85% and 100% of the initial level, investors receive full principal back. Below 85%, principal is reduced 1% for each 1% additional decline, for a potential loss of up to 85%.

The notes pay no interest, are unsecured and unsubordinated obligations of the Bank, and are not insured by Canadian or U.S. deposit insurers. The initial estimated value is $941.20 per $1,000, below the 100% issue price, reflecting internal funding and structuring and hedging costs.

The Bank of Nova Scotia is offering unsecured Autocallable Contingent Coupon Trigger Notes linked to the shares of the VanEck Semiconductor ETF. Each note has a $1,000 principal amount and pays a contingent quarterly coupon of at least $27.50 if the ETF closes at or above 70% of its initial price on an observation date.

The notes can be automatically called starting in August 2026 if the ETF closes at or above its initial price on certain observation dates, returning $1,000 plus the applicable coupon. If not called and the final ETF price is at least 70% of the initial price, investors receive $1,000 plus the final coupon at maturity.

If the final ETF price is below 70% of the initial price, repayment is reduced one-for-one with the ETF loss, and investors can lose up to their entire principal and receive no coupons. Payments depend both on ETF performance and the creditworthiness of The Bank of Nova Scotia, and the notes will not be listed on any exchange.

The Bank of Nova Scotia is offering senior unsecured Autocallable Dual Directional Barrier Notes linked to the S&P 500® Index, maturing on February 2, 2028, with a minimum investment of $10,000.

The notes may be automatically called on February 9, 2027 if the index is at or above the initial level of 6,978.60, paying $1,091.50 per $1,000 note (a 9.15% call premium). If not called and the final index level is above the initial level, investors receive 150% of the index’s positive return. If the final level is between 80% and 100% of the initial level (barrier at 5,582.88), investors earn a positive return equal to the index’s decline, capped at $1,200 per note. Below the barrier, losses match the index’s decline and can reach 100% of principal.

The notes pay no interest, do not provide dividends, will not be listed on any exchange, and are subject to the credit risk of The Bank of Nova Scotia and significant liquidity, valuation and tax risks. The initial estimated value is expected to be between $952.25 and $982.25 per $1,000.

The Bank of Nova Scotia is offering $12,000,000 of autocallable contingent coupon buffer notes with memory coupon linked to shares of the SPDR® S&P 500® ETF Trust, maturing on February 1, 2027. The notes are issued at 100% of a $1,000 principal amount per note, with estimated initial value of $995.76 per $1,000, and net proceeds to the Bank of 99.90%.

The notes pay a contingent coupon of $10.30 per Observation Date if SPY’s closing value is at or above 95.00% of the $692.73 Initial Value ($658.09), with unpaid coupons carried forward. The notes are automatically called if SPY is at or above the Initial Value on any Observation Date before maturity, returning principal plus due coupons.

If not called and the Final Value is at or above the 95.00% Buffer Value, investors receive full principal back plus any due coupons. Below the Buffer Value, repayment is reduced by approximately 1.0526% of principal for each 1% SPY decline beyond the 5.00% buffer, up to total loss of principal. The notes are unsubordinated, unsecured obligations of Scotiabank, not insured by CDIC or FDIC, will not be listed on an exchange, and secondary market liquidity is not assured.

The Bank of Nova Scotia is offering 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). The notes have a term of about three years, a $10 principal per note and pay a contingent coupon of 9.00%–9.50% per year, but only when both ETFs close at or above their coupon barriers on quarterly observation dates.

The notes are automatically called after six months if on any observation date each ETF is at or above its initial level, in which case holders receive $10 plus the coupon and the product terminates. If not called, and on the final valuation date both ETFs are at or above 70% of their initial levels, principal is repaid in full. If any ETF finishes below its 70% downside threshold, repayment is reduced dollar-for-dollar with the loss on the worst performer, and the entire investment can be lost.

The notes are unsecured obligations of BNS, not listed on an exchange, and their initial estimated value is expected to be between $9.187 and $9.487 per $10 note, reflecting structuring, distribution and hedging costs. Payments depend on BNS’s credit and there is significant market, sector and liquidity risk, particularly from the energy exposure in XLE.

The Bank of Nova Scotia is offering unsecured Autocallable Contingent Coupon Buffered Notes linked to the common stock of NVIDIA Corporation, expected to mature on March 12, 2027. These derivative notes do not provide ownership, voting rights or dividends in NVIDIA.

Investors may receive a monthly contingent coupon of $8.209 per $1,000 in principal (0.8209% monthly, about 9.85% per year) only when NVIDIA’s closing price on an observation date is at least 75.00% of the initial price. Starting in August 2026, the notes are automatically called if NVIDIA closes at or above the initial price on a call observation date, paying $1,000 plus the coupon.

If the notes are not called, the maturity payment depends on NVIDIA’s final price. If the final price is at least 75.00% of the initial price, investors receive $1,000 plus a final coupon. If it is lower, the payoff is reduced by NVIDIA’s decline beyond a 25.00% buffer, with losses of 1% of principal for each 1% drop below 75.00%, up to a 75.00% loss of principal and no coupon. The notes are not listed, are not insured by CDIC or FDIC, and all payments depend on the creditworthiness of The Bank of Nova Scotia. The initial estimated value is expected to be $925.00–$955.00 per $1,000, below the original issue price, reflecting fees, hedging costs and the bank’s internal funding rate.

The Bank of Nova Scotia is offering unsecured, senior buffered index-linked notes tied to the S&P 500 Index, maturing around June 1, 2027. Each note has a $1,000 principal amount and pays no interest.

At maturity, investors get upside or downside based on index performance from the trade date to the valuation date. Gains match index gains but are capped by a maximum upside payment amount expected to be at least $1,087.50 per $1,000. If the index falls by up to 10%, investors earn the absolute index move, up to $1,100 per $1,000. Below a 10% decline, losses resume one-for-one beyond that buffer, so investors can lose up to 90% of principal.

Payments depend entirely on Scotiabank’s creditworthiness, the notes are not insured, and there is no exchange listing, so liquidity may be limited. The initial estimated value per note is expected to be $925–$965, below the 100% original issue price due to fees, hedging and funding costs.

The Bank of Nova Scotia is offering autocallable contingent coupon trigger notes linked to the common stock of Netflix, Inc. The notes are unsecured senior debt, denominated in $1,000 increments, and are scheduled to mature on March 8, 2027, unless called earlier.

Investors can receive a monthly contingent coupon of $9.25 per $1,000 (0.925% per month, up to 11.10% per year) if Netflix’s closing price on each observation date is at least 70% of the initial price. The notes are automatically called, returning $1,000 plus the relevant coupon, if Netflix’s price on specified call observation dates from August 2026 to February 2027 is at or above the initial price.

If the notes are not called and the final price is at least 70% of the initial price, investors receive $1,000 plus the final coupon. If the final price is below 70%, holders receive Netflix shares worth less than 70% of principal (or cash equivalent), resulting in loss of all or a substantial portion of the investment. The initial estimated value is expected between $925 and $955 per $1,000, reflecting fees, funding costs and hedging. Any payment depends on Scotiabank’s creditworthiness, and the notes are not listed on any exchange.

The Bank of Nova Scotia is offering unsecured autocallable contingent coupon trigger notes linked to the common stock of Salesforce, Inc., expected to mature on March 12, 2027, under its senior note program.

The notes pay a monthly contingent coupon of $9.167 per $1,000 (0.9167%, about 11.00% per year) only if Salesforce’s closing price on each observation date is at least 68.00% of the initial price. Starting with the August 2026 observation date, the notes are automatically called if Salesforce closes at or above the initial price, in which case investors receive $1,000 plus the applicable coupon and the notes terminate.

If the notes are not called and the final price on the March 9, 2027 final valuation date is at least 68.00% of the initial price, investors receive full principal plus the final coupon. If the final price is below 68.00%, repayment is reduced one‑for‑one with Salesforce’s decline from the initial price, and investors can lose up to their entire investment. The notes are not listed, carry significant liquidity and valuation risks, and all payments depend on the creditworthiness of The Bank of Nova Scotia. The initial estimated value is expected between $925.00 and $955.00 per $1,000 principal amount.

The Bank of Nova Scotia is offering capped buffered index-linked notes tied to the worst performer of the Russell 2000 and S&P 500, maturing around September 1, 2027. Each note has a $1,000 principal amount, no interest payments, and all cash flows depend on the Bank’s credit.

At maturity, investors get enhanced upside with a 120% participation rate, but returns are capped by a maximum payment expected to be at least $1,267.50 per $1,000. A 10% buffer protects against moderate declines in the worst index; below 90% of its initial level, principal losses mirror further declines, up to a 90% loss.

The payoff is based solely on index levels on the valuation date in August 2027 and excludes dividends. The initial estimated value is expected between $925 and $965 per $1,000, reflecting structuring and hedging costs and implying the notes may initially trade below issue price. The notes are unsecured, unsubordinated obligations and will not be listed on an exchange.

The Bank of Nova Scotia is offering Autocallable Digital Trigger Notes linked to the Russell 2000 and S&P 500, maturing in March 2029. The notes pay no interest and may be automatically called in February 2027 if both indices are at or above their initial levels.

If called, investors receive $1,000 plus a call premium of at least 7.60% per $1,000. If not called, maturity payoff depends on the worst-performing index. If both final levels are at or above initial, the payout is the greater of $1,400 or $1,000 plus the least-performing index return.

If any index finishes below its initial level but at least 85% of it, investors receive only the $1,000 principal. If any index ends below 85% of its initial level, repayment falls one-for-one with the worst index decline, down to a total loss of principal. The initial estimated value is expected between $925 and $965 per $1,000, reflecting underwriting commissions and structuring fees.

The Bank of Nova Scotia is offering unsecured Autocallable Contingent Coupon Trigger Notes linked to the Class A common stock of Meta Platforms, Inc., maturing March 8, 2027. Each $1,000 note pays a monthly contingent coupon of $8.875 (0.8875%, up to 10.65% per year) if Meta’s closing price on the observation date is at least 68.00% of the initial price. The notes are automatically called if, on specified call observation dates from August 2026 to February 2027, Meta closes at or above the initial price, triggering repayment of $1,000 plus the coupon for that month.

If the notes are not called and Meta’s final price on the March 3, 2027 valuation date is at least 68.00% of the initial price, investors receive $1,000 plus the final coupon. If the final price is below 68.00%, investors receive Meta shares worth less than 68% of principal and no coupon, meaning a loss of all or a substantial portion of principal. The initial estimated value is expected between $925 and $955 per $1,000, below the issue price, and the notes will not be listed, with secondary pricing affected by fees, hedging and the issuer’s credit risk.

The Bank of Nova Scotia is issuing $4,619,000 of Capped Buffered Enhanced Participation Notes linked to the S&P 500 Index, maturing on July 27, 2027. Each note has a $1,000 principal amount, pays no interest and is an unsecured, unsubordinated obligation of the bank.

At maturity, if the index is above the initial level of 6,915.61, investors receive principal plus 150% of the index gain, capped at a maximum payment of $1,153.75 per $1,000 (a 15.375% maximum return). If the index is flat or down by up to 10%, investors receive back their $1,000.

If the index is down more than 10%, principal is reduced: investors lose about 1.1111% of principal for every 1% decline beyond the 10% buffer, and can lose up to all of their investment. The notes will not be listed, may have limited liquidity, and all payments depend on the creditworthiness of The Bank of Nova Scotia. The initial estimated value is $974.77 per $1,000, below the issue price due to fees, hedging and the bank’s internal funding rate.

The Bank of Nova Scotia is offering $15,045,000 of unsecured digital notes linked to the S&P 500 Index, maturing July 27, 2027. Each $1,000 note pays no interest and its value at maturity depends on the index level on July 23, 2027 versus the initial level of 6,915.61 set on January 23, 2026. If the final index level is at least 85% of the initial level, holders receive a fixed maximum payment of $1,099.20 per $1,000 note, capping total return at 9.92%. If the final level falls more than 15% below the initial level, principal loss accelerates at about 1.1765% for every additional 1% decline, up to a total loss of principal. The notes are not insured, are not listed on an exchange, and any payment depends on Scotiabank’s credit. The initial estimated value is $981.03 per $1,000, below the issue price, reflecting fees, hedging costs and the bank’s internal funding rate.

The Bank of Nova Scotia is offering senior unsecured market-linked notes that are auto-callable and tied to the lowest performing of Broadcom, Alphabet Class C and Netflix stock. Each $1,000 note can be automatically called after 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 37.50%. If not called, at maturity investors receive either 300% of any gain in the lowest stock, a positive return equal to its loss (capped at 50%) if it falls but stays above 50% of its start, or full downside exposure if it drops below 50%, which can mean losing most or all of principal. The notes pay no interest or dividends, are not listed on an exchange, and all payments depend on the credit of The Bank of Nova Scotia, with an estimated value between 91.842% and 94.842% of the $1,000 price.

The Bank of Nova Scotia is offering senior unsecured digital notes linked to the least performing of the Russell 2000 Index and the S&P 500 Index, maturing in March 2028. The notes pay no interest and are designed to return either a capped gain or only principal at maturity.

If on the valuation date both indices are at or above their initial levels, holders receive a fixed "threshold settlement amount," expected to be at least $1,112.50 per $1,000 of principal, regardless of how far the indices have risen. If either index finishes below its initial level, the payment is limited to the $1,000 principal, so any upside is forgone and the real value may be eroded by inflation.

The initial estimated value is expected to be $925–$965 per $1,000, below the issue price, reflecting structuring fees, dealer compensation and hedging costs, which may pressure secondary market prices. The notes will not be listed, may have limited liquidity, and all payments are subject to the credit risk of The Bank of Nova Scotia.

The Bank of Nova Scotia is offering capped buffered index-linked notes tied to the least performing of the Russell 2000® and S&P 500® indexes, maturing around August 31, 2027. The notes pay no interest and repay at maturity based on index performance from an expected February 26, 2026 trade date to an expected August 26, 2027 valuation date.

Investors receive 120% of the gain of the worst-performing index, but only up to a maximum payment of about $1,197.50 per $1,000, capping upside at roughly 19.75%. If the worst index finishes between 90% and 100% of its starting level, investors get 120% of the absolute loss as a positive return. Below 90% of its initial level, principal loss matches the decline beyond that 10% buffer, up to a 90% loss of principal.

The initial estimated value is expected between $925 and $965 per $1,000, below issue price, reflecting internal funding and fees. Underwriting and related selling costs can total up to about 2.10% of principal. The notes are unsecured senior obligations of Scotiabank, not listed on an exchange, and all payments depend on the bank’s creditworthiness.

The Bank of Nova Scotia is offering $19,730,000 of Contingent Income Auto-Callable Securities due January 26, 2029, linked to GE Vernova Inc. common stock. These senior unsecured notes can pay a quarterly contingent coupon of $33.20 per $1,000 (equivalent to 13.28% per annum) on each determination date when GE Vernova’s share price is at or above the downside threshold of $328.89, which is 50.00% of the $657.78 initial share price. A “memory” feature allows previously skipped coupons to be paid later if the threshold is met.

The notes are automatically called if the stock closes at or above the call threshold of $657.78 on any non-final determination date, returning the $1,000 principal plus the applicable coupon and any unpaid coupons. If the notes are not called and the final share price is below the downside threshold, repayment is reduced 1-to-1 with the stock’s decline, and the maturity payment can be less than 50.00% of principal and as low as zero. Investors do not receive dividends or any upside beyond coupons, the estimated value at pricing is $975.10 per $1,000, and all payments are subject to BNS credit risk.

The Bank of Nova Scotia is offering senior unsecured market-linked notes tied to the common stock of Oracle Corporation, maturing on February 16, 2029. Each security has a $1,000 face amount and pays a contingent quarterly coupon only if Oracle’s stock closes at or above 50% of the starting price on the relevant calculation day. The contingent coupon rate will be set on the pricing date and will be at least 12.00% per annum, with a memory feature that can catch up previously missed coupons when conditions are later met.

The notes are auto-callable quarterly from August 2026 to November 2028 if Oracle’s stock closes at or above the starting price, in which case holders receive the face amount plus the applicable coupon and any unpaid coupons. If the notes are not called and Oracle’s final price is below 50% of the starting price, holders lose more than half, and possibly all, of principal; upside is capped at par, with no participation in stock gains or dividends. The securities are not listed, are subject to the Bank’s credit risk, and have an estimated value between $917.78 and $947.78 per $1,000 at pricing.

The Bank of Nova Scotia is offering unsecured Autocallable Contingent Coupon Trigger Notes linked to Alphabet Inc. Class C shares. The notes run to an expected maturity of March 8, 2027, with monthly observation dates starting in March 2026.

Investors may receive a contingent coupon of $9.167 per $1,000 (0.9167% monthly, about 11.00% per year) on each coupon date, but only if Alphabet’s share price is at least 70% of the initial price on the related observation date. Beginning in August 2026, the notes are automatically called if Alphabet closes at or above the initial price on a call observation date, returning principal plus that month’s coupon.

If the notes are not called and the final price is at least 70% of the initial price, investors get back principal plus the last coupon. If the final price is below 70%, holders receive Alphabet shares (or cash) worth less than 70% of principal, resulting in a substantial or total loss. The notes are not principal protected, are not listed, and carry both market risk on Alphabet and credit risk of Scotiabank. The initial estimated value is expected to be $925–$955 per $1,000, below the issue price due to fees, funding and hedging costs.

The Bank of Nova Scotia is offering $19.3 million of Contingent Income Auto-Callable Securities due January 26, 2029, linked to Broadcom Inc. common stock. These notes can pay a quarterly contingent coupon of $32.20 per $1,000 (12.88% per annum) for each determination date on which Broadcom’s closing price is at or above 50% of the initial share price of $320.05. If on any non-final determination date the stock closes at or above 100% of the initial price, the notes are automatically redeemed at $1,000 plus the applicable coupon and any unpaid coupons under the memory feature. If held to maturity and the final price is below the 50% downside threshold of $160.025, repayment is reduced 1-for-1 with the stock’s decline and can fall below 50% of principal, down to zero. The notes do not participate in any stock upside, are unsecured senior debt subject to BNS credit risk, will not be listed, and have an initial estimated value of $965.60 per $1,000.

The Bank of Nova Scotia is offering $26,495,000 of Contingent Income Auto-Callable Securities due January 26, 2029, linked to the common stock of Tesla, Inc. Each security has a $1,000 stated principal amount and pays a contingent quarterly coupon of $35.125 per security (equivalent to 14.05% per annum) only if Tesla’s closing price on the relevant determination date is at or above 50.00% of the initial share price of $449.06, a downside threshold of $224.53.

If on any determination date before maturity Tesla’s price is at or above 100.00% of the initial share price, the notes are automatically redeemed for principal plus the applicable coupon and any unpaid past coupons under the “memory” feature. If the notes are not called and the final share price is below the downside threshold, investors receive the $1,000 principal multiplied by the share performance factor (final price divided by initial price), which can be less than half of principal and as low as zero, meaning substantial or total loss of invested capital. The securities are senior unsecured debt of BNS, are not listed on any exchange, and all payments are subject to BNS credit risk.

The Bank of Nova Scotia is issuing $2,480,000 of Contingent Income Auto-Callable Securities due January 28, 2027, linked to the common stock of Meta Platforms, Inc. Each $1,000 security can pay a contingent quarterly coupon of $28.00 (11.20% per annum) if Meta’s closing price on the determination date is at or above 70.00% of the initial share price of $658.76.

The notes are automatically redeemed at par plus the applicable coupon (including any unpaid “memory” coupons) if Meta closes at or above 100.00% of the initial share price on any non-final determination date. If not called and Meta’s final share price is below the 70.00% downside threshold of $461.132, investors receive 1.5180 Meta shares per security (plus cash for any fraction), which could be worth far less than $1,000, including a total loss of principal.

The securities are senior unsecured obligations of BNS, are not listed on any exchange, have an estimated value of $970.60 per $1,000 at pricing, and expose investors to BNS credit risk, market volatility in Meta stock, limited liquidity and complex tax treatment.

The Bank of Nova Scotia is issuing $3,320,000 of Contingent Income Auto-Callable Securities linked to the common stock of Microsoft Corporation, maturing on January 28, 2027. These senior unsecured notes offer a quarterly contingent coupon of $24.70 per $1,000 security (9.88% per annum) only if Microsoft’s closing price on a determination date is at least 80% of the $465.95 initial share price ($372.76 downside threshold), with a “memory” feature that can pay previously missed coupons later.

If on any non-final determination date Microsoft closes at or above 100% of the initial share price ($465.95 call threshold), the notes are automatically redeemed at $1,000 plus the due coupon and any unpaid coupons, and no further payments are made. If the notes are not called and Microsoft’s final price is below the downside threshold, investors receive about 2.1462 Microsoft shares per note (plus cash for any fraction), which may be worth far less than $1,000 and could result in a total loss of principal.

Investors do not participate in any upside of Microsoft beyond the coupons, forgo dividends, face limited or no secondary market liquidity, and bear full credit risk of BNS. The estimated value on the pricing date is $975.90 per $1,000, below the issue price, reflecting selling, structuring and hedging costs.

The Bank of Nova Scotia is offering $19,476,000 of Contingent Income Auto-Callable Securities due January 26, 2029, linked to Palantir Technologies Inc. common stock. Each $1,000 security can pay a quarterly contingent coupon of $41.625 (16.65% per year) if Palantir’s closing price is at or above 50% of the initial share price of $169.60, with missed coupons potentially paid later under a “memory” feature. The notes are auto-called at par plus the coupon if Palantir closes at or above $169.60 on any non-final determination date. If held to maturity and Palantir finishes below 50% of the initial price ($84.80), repayment is reduced 1-for-1 with the stock’s decline and can fall to zero, so principal is fully at risk. The securities are senior unsecured BNS obligations, not listed on any exchange, and have an estimated value of $969 per $1,000 at pricing.

The Bank of Nova Scotia is offering unsecured Buffered Index-Linked Notes tied to the S&P 500® Index, maturing in June 2027. The notes pay no interest and all value comes from how the index performs between the trade date and a single valuation date near maturity.

Holders get upside exposure to the index, but gains are capped by a maximum upside payment amount expected to be at least $1,122.50 per $1,000 note. On the downside, the structure provides a 10% buffer: if the index falls by up to 10%, investors gain the same amount in absolute terms, but if it falls more than 10%, principal is reduced point-for-point beyond that buffer and up to 90% of principal can be lost.

Payments depend entirely on the credit of The Bank of Nova Scotia. The notes will not be listed, may have limited or no secondary market, and their initial estimated value (expected between $925.00 and $965.00 per $1,000) will be below the issue price due to structuring and hedging costs.

The Bank of Nova Scotia is offering senior unsecured, equity-linked securities that pay a fixed monthly coupon and are linked to the common stock of Tesla, Inc.

The notes have a face amount of $1,000 per security and a coupon rate to be set on the pricing date at no less than 12.50% per annum, paid monthly until automatic call or maturity. From August 2026 to January 2027, if Tesla’s stock closing price on any monthly calculation day is at or above the starting price, the notes are automatically called for $1,000 per security plus a final coupon.

If the notes are not called, investors receive $1,000 per security at maturity on February 19, 2027 only if the final Tesla price is at least 60% of the starting price. If the final price is below this downside threshold, the maturity payment equals $1,000 multiplied by the performance factor, so investors lose more than 40% and possibly all principal. The Bank’s estimated value is between $936.53 and $966.53 per $1,000 security. The notes are unsecured obligations subject to Bank of Nova Scotia credit risk, are not CDIC or FDIC insured, and will not be listed on an exchange, so liquidity may be limited.

The Bank of Nova Scotia is offering senior, unsecured Trigger Autocallable Contingent Yield Notes linked to the least performing of the Nikkei 225 Index and the S&P 500 Index, maturing on or about January 30, 2031. The Notes pay a contingent coupon only if, on a quarterly observation date, the closing level of each index is at or above its coupon barrier, set at 70% of its initial level. The contingent coupon rate will be at least 9.65% per annum.

The Notes may be automatically called after six months if both indices are at or above their initial levels on an observation date, in which case investors receive principal plus the applicable coupon and the Notes terminate. If not called, and on the final valuation date both indices are at or above their downside thresholds (also 70% of initial levels), investors receive full principal back. If any index finishes below its downside threshold, repayment is reduced by the decline of the worst-performing index, and investors could lose their entire investment.

The minimum denomination is $10 per Note (minimum $1,000). The initial estimated value is expected to be between $9.13 and $9.43 per $10 Note, below the $10 issue price. Payments depend on BNS’s credit and the Notes are not insured by any government agency.

The Bank of Nova Scotia is offering unsecured “Digital Notes” linked to the S&P 500® Index with a term of about 13 to 15 months. The notes pay no interest and are designed to return a fixed maximum payment amount expected to be between $1,080.40 and $1,094.40 for each $1,000 of principal if, on the valuation date, the index is at least 90% of its initial level. If the S&P 500® falls more than 10% from the initial level, repayment is reduced so that investors lose about 1.1111% of principal for every 1% additional decline, up to a total loss of principal. The initial estimated value is expected to range from $940 to $970 per $1,000, reflecting dealer compensation, hedging costs and the bank’s internal funding rate. The notes will not be listed, provide no dividends, are subject to The Bank of Nova Scotia’s credit risk, and may have limited or no secondary market liquidity.

The Bank of Nova Scotia plans to issue unsecured Autocallable Contingent Coupon Notes due February 9, 2029, linked to the common stock of Intuitive Surgical, Inc. These three-year notes can be automatically called on scheduled observation dates if the stock’s closing value is at or above its initial level, returning principal plus the applicable contingent coupon.

If not called, investors receive contingent coupons of at least $21.875 per $1,000 note (at least 8.75% per annum) only when the stock closes at or above 70% of its initial value on observation dates. At maturity, if the final stock value is at or above this 70% barrier, principal is repaid; otherwise repayment is reduced one-for-one with the stock’s decline, with up to 100% loss of principal. The notes are senior unsecured obligations of Scotiabank, not listed on an exchange, sold in $1,000 minimums, and have an initial estimated value between $933.81 and $963.81 per $1,000.

The Bank of Nova Scotia is offering unsecured Autocallable Contingent Coupon Notes linked to the common stock of Tesla, Inc., maturing on February 9, 2029. Each note has a $1,000 principal amount and an original issue price of 100%.

If on any quarterly observation date Tesla’s closing price is at or above the initial level, investors receive a contingent coupon of at least $34.375 per note (at least 13.75% per annum) and, if also at or above the initial level on a call date, the notes are automatically redeemed early at par plus that coupon. If the notes are not called and Tesla’s final price is at or above 50% of the initial level, investors receive principal back (plus any due coupon). If the final price is below this barrier, repayment is reduced one-for-one with Tesla’s decline, and investors can lose up to 100% of principal.

The notes are subject to the credit risk of The Bank of Nova Scotia, will not be listed on an exchange, and are not insured by the CDIC or FDIC. The initial estimated value is expected to be $928.74–$958.74 per $1,000, below the issue price, reflecting fees, hedging and the Bank’s internal funding rate. Underwriting commissions are up to 2.00% of principal.