Bank of Nova Scotia 424B Filings

The Bank of Nova Scotia is offering unsecured autocallable notes linked to the SPDR S&P 500 ETF (SPY) maturing February 1, 2027. Each note has a $1,000 principal amount and pays a contingent coupon of $10.30 per Observation Date if SPY’s closing value is at or above 95% of its initial level of $692.73. Missed coupons accrue as “memory” and are paid on the next date that meets the barrier, but nothing is paid if the final level is below 95%.

The notes are automatically called, returning principal plus applicable coupons, if on any Observation Date before maturity SPY is at or above its initial level. If not called and SPY finishes below 95% of the initial level, investors lose about 1.0526% of principal for each 1% decline beyond the 5% buffer and can lose their entire investment. The notes are not CDIC or FDIC insured, are not listed on an exchange, and investors face the credit risk of Scotiabank. Initial estimated value is between $965.51 and $995.51 per $1,000 issue price.

The Bank of Nova Scotia is offering market-linked, auto-callable senior notes tied to the ARK Innovation ETF. Each security has a $1,000 face amount, pays no interest and does not guarantee full principal repayment.

The notes can be automatically called on scheduled dates if the ETF’s closing price is at or above 80% of its starting level, paying back $1,000 plus a fixed call premium that steps up over time, based on a simple return of at least 8.60% per year, up to at least 25.80% by the final call date.

If the notes are never called and, on the final calculation day, the ETF has fallen more than the 20% buffer, investors take 1‑for‑1 losses beyond that buffer and may lose up to 80% of principal. The bank’s own estimated value is between 91.968% and 94.968% of the $1,000 price, reflecting selling costs and hedging profits. The securities are unsecured obligations exposed to BNS credit risk, pay no dividends, are not insured, and are not listed, so liquidity may be limited.

The Bank of Nova Scotia is offering senior unsecured structured notes called Buffered Contingent Income Auto-Callable Securities with Memory Coupon and Downside Leverage, linked to shares of the SPDR S&P 500 ETF Trust. Each security has a stated principal of $1,000 and matures on February 1, 2027, with principal fully at risk.

Investors can receive a contingent monthly coupon of $10.30 per security (equivalent to 12.36% per annum) for each determination date on which the SPY closing price is at or above the downside threshold price of $658.0935, which is 95% of the initial share price of $692.73. If on any non-final determination date the closing price is at or above the call threshold price of $692.73, the notes are automatically redeemed for $1,000 plus the applicable coupon and any unpaid past coupons (memory feature).

If the notes are not called and the final SPY price is below the downside threshold, repayment is reduced: holders receive a cash value that results in losing approximately 1.0526% of principal for every 1% that the final price falls below the threshold, up to a total loss. Payments depend on BNS’s credit, the notes are not listed, and their estimated value on pricing is expected to be below the $1,000 issue price.

The Bank of Nova Scotia is offering unsecured, unsubordinated Autocallable Contingent Coupon Notes due February 2, 2029, linked to the common stock of Netflix, Inc.

The notes pay a contingent coupon of at least $32.50 per $1,000 (at least 13.00% per annum) on scheduled observation dates only if Netflix’s closing value is at or above a barrier set at 70% of the initial value. The notes are automatically called, returning principal plus the coupon, if Netflix is at or above its initial value on any call observation date.

If the notes are not called and Netflix finishes below the 70% barrier at maturity, investors lose 1% of principal for each 1% decline from the initial value, up to a 100% loss of principal. The original issue price is 100% of principal, with underwriting commissions up to 2.00%, and the initial estimated value is expected between $936.94 and $966.94 per $1,000. All payments depend on Scotiabank’s credit and the notes will not be listed on an exchange.

The Bank of Nova Scotia is offering senior unsecured Autocallable Contingent Coupon Notes due February 2, 2029, linked to the common stock of Micron Technology, Inc. The notes pay a contingent coupon of at least $61.00 per $1,000 (at least 24.40% per annum) on scheduled dates only if Micron’s closing price is at or above a barrier set at 50% of its initial value; otherwise no coupon is paid.

The notes can be automatically called on any observation date if Micron’s closing value is at or above the initial value, returning the $1,000 principal plus the applicable coupon, with no further payments. If the notes are not called and Micron’s final value is at or above the 50% barrier, investors receive full principal back at maturity, plus any due coupon. If the final value is below the barrier, repayment is reduced 1% for each 1% decline from the initial value, up to a total loss of principal.

The notes are unsecured obligations of Scotiabank, are not insured by CDIC or FDIC, will not be listed on any exchange, and may have limited or no secondary market. The initial estimated value is expected to range from $931.73 to $961.73 per $1,000, reflecting structuring, hedging costs and the bank’s internal funding rate.

The Bank of Nova Scotia is offering unsecured Autocallable Contingent Coupon Buffer Notes with Memory Coupon linked to the common stock of KLA Corporation. Each $1,000 Note can be automatically called on quarterly Observation Dates if KLA’s closing value is at or above its initial level, returning principal plus any due contingent and unpaid coupons.

If not called, a contingent coupon of at least $44.625 per Note is paid on an Observation Date only when KLA closes at or above 75% of its initial value; missed coupons may be paid later if conditions are met. At maturity in February 2027, investors receive full principal only if KLA’s final value is at or above 75% of the initial level; below that buffer, losses accelerate at about 1.3333% of principal for each 1% drop beyond the 25% buffer, up to total loss. The Notes are not listed, pay only in cash, carry the credit risk of Scotiabank, and have an initial estimated value between $950.50 and $980.50 per $1,000, below the issue price.

The Bank of Nova Scotia is offering $16,660,000 of Airbag Autocallable Yield Notes linked to Qualcomm common stock, maturing on January 28, 2027. Each $1,000 Note pays a fixed coupon at a 10.35% per annum rate, in monthly installments, as long as the Notes remain outstanding, regardless of the stock’s performance.

The Notes can be automatically called quarterly if Qualcomm’s share price is at or above the call threshold of $155.82, returning principal plus the coupon due on that date. If they are not called and the final stock price on the valuation date is at or above the conversion level of $132.45, investors receive their $1,000 principal back in cash at maturity. If the final price is below $132.45, investors receive about 7.55 Qualcomm shares per Note (plus cash for any fraction), which is expected to be worth less than $1,000 and could result in a total loss. All payments depend on BNS’s credit; there is no exchange listing and liquidity is expected to be limited.

The Bank of Nova Scotia is offering senior unsecured Market Linked Securities tied to the VanEck Gold Miners ETF and the iShares Silver Trust, maturing in March 2029. Each security has a $1,000 face amount and pays a quarterly contingent coupon only if the worst‑performing fund on that calculation day is at or above 70% of its starting price. The contingent coupon rate will be set on the pricing date at no less than 24.50% per annum.

The notes are auto‑callable quarterly from August 2026 to November 2028 if the worst‑performing fund is at or above its starting price, in which case investors receive $1,000 plus the final coupon. If not called and, at final valuation, the worst fund is below 70% of its starting price, investors lose principal in full proportion to that decline and can lose all of their investment. Investors do not participate in any upside of the ETFs and receive no dividends. All payments are subject to BNS credit risk, and the issuer’s estimated value is initially between 91.249% and 94.249% of the $1,000 price.

The Bank of Nova Scotia is offering unsecured Series A digital notes linked to the Russell 2000® Index, with a term expected to be about 12–14 months. The notes pay no interest and will not be listed on an exchange.

At maturity, for each $1,000 note, if the index final level is at least 90% of the initial level, investors receive a fixed threshold settlement amount, expected between $1,095.40 and $1,111.90. If the final level is more than 10% below the initial level, repayment is reduced using a buffer rate of about 111.11%, so losses increase about 1.1111% for every 1% drop beyond the 10% buffer, down to a possible full loss of principal.

The initial estimated value is expected between $948.60 and $976.80 per $1,000, below the issue price, reflecting internal funding and hedging costs. The notes carry credit risk of BNS, small‑cap equity market risk, limited liquidity, potential dealer conflicts of interest, and complex tax treatment.

The Bank of Nova Scotia is issuing $2,000,000 of senior unsecured Contingent Income Auto-Callable Securities linked to the common stock of Carvana Co. Each $1,000 security can pay a quarterly contingent coupon of $54.375 (equivalent to 21.75% per annum) if Carvana’s closing price on a determination date is at or above the downside threshold of $227.51, which is 50.00% of the $455.02 initial share price. If on a determination date (other than the final one) the stock is at or above the call threshold of $455.02, the notes are automatically redeemed for $1,000 plus the applicable coupon and any unpaid “memory” coupons.

If the notes are not called and the final share price is at or above $227.51, investors receive principal back plus the final coupon and any unpaid coupons. If the final share price is below $227.51, repayment is reduced 1-to-1 with the stock’s decline and can be less than 50.00% of principal, down to zero, meaning investors can lose their entire investment. The securities do not participate in any stock upside beyond coupons, are not listed on an exchange, and all payments are subject to BNS credit risk. The estimated value on the pricing date is $968.60 per $1,000 security, below the issue price.

The Bank of Nova Scotia is offering $5,946,000 of Trigger Autocallable Contingent Yield Notes with Memory Interest linked to the least performing of Amazon, Broadcom and Dell common stock, maturing January 26, 2029. Investors receive a high contingent coupon of 19.48% per annum (paid quarterly at $0.487 per $10 note, with a memory feature) only if on each observation date all three stocks close at or above their coupon barriers, set at 55% of initial levels.

The notes can be automatically called each quarter if all three stocks are at or above their initial levels, returning principal plus due and unpaid coupons, ending the investment early. If not called, and at maturity every stock is at or above its downside threshold (also 55% of initial), investors receive full principal; if any stock finishes below its downside threshold, repayment is reduced in line with the negative return of the worst performer, and principal loss can reach 100%.

The initial estimated value is $9.52 per $10 note, below the issue price, reflecting selling, structuring and hedging costs. The notes are unsecured senior debt of BNS, are not insured, will not be listed on an exchange and depend entirely on BNS’s credit; investors may face limited liquidity, complex tax treatment and heightened market, issuer and correlation risk.

The Bank of Nova Scotia is offering $2,369,000 of unsecured Autocallable Contingent Coupon Trigger Notes linked to UnitedHealth Group common stock, maturing on February 25, 2027. Each $1,000 note can pay a monthly contingent coupon of $9.834 (0.9834% per month, about 11.80% per year) if UNH’s closing price on an observation date is at least 70% of the initial price.

The notes are automatically called if, from July 2026 through January 2027, UNH’s closing price on a call observation date is at or above the initial price of $354.47, repaying $1,000 plus that month’s coupon. If not called, and on the final valuation date UNH is at or above 70% of the initial price, investors receive $1,000 plus the final coupon. If UNH finishes below 70% of the initial price, principal is reduced one-for-one with the stock’s decline, and investors can lose up to their entire investment. Payments depend on the creditworthiness of Scotiabank, and the initial estimated value is $973.60 per $1,000, below the issue price due to fees, funding and hedging costs.

The Bank of Nova Scotia is issuing Capped Leveraged Index Return Notes linked to a basket of fifteen financial sector stocks. The offering size is 265,494 units at $10.00 per unit, for total proceeds before expenses of $2,601,841.20, with an underwriting discount of $0.20 and a hedging-related charge of $0.05 per unit. The notes mature on January 28, 2028 and provide 2x leveraged upside on any basket gain, capped at a maximum redemption of $14.58 per unit, a 45.80% total return. If the basket falls below the starting value, investors lose principal on a 1-to-1 basis, up to a total loss. The initial estimated value is $9.80 per unit, below the public offering price, reflecting BNS’s internal funding rate, selling costs and hedging charges. The notes pay no interest, forgo dividends on the underlying stocks, have limited expected secondary liquidity and are unsecured senior debt fully subject to BNS credit risk.

The Bank of Nova Scotia is offering senior unsecured Market Linked Securities tied to the worst performer of Dell Class C, Marvell, and NVIDIA common stock, under its Series A Senior Note program. Each security has a $1,000 face amount, with a total original offering of $2,473,000.

About one year after issue, the notes are auto-callable: if the lowest-performing stock is at or above its starting price, investors receive $1,000 plus a 50% call premium and the notes terminate. If not called, at maturity in 2029, investors get 425% of any positive performance of the lowest-performing stock.

Principal is only protected down to a 50% threshold; if the worst stock falls below half its starting price, repayment is fully exposed to that decline and investors can lose more than 50%, up to all principal. The notes pay no interest or dividends, are not listed, and all payments depend on BNS’s credit. The Bank’s estimated value is $931.13 per $1,000 security on the pricing date.

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 not listed on any exchange.

At maturity, each $1,000 note pays a fixed maximum amount expected between $1,080.40 and $1,094.40 if the index final level is at least 90% of its initial level. If the index falls more than 10%, repayment is reduced at an accelerated rate of about 111.11% of the loss beyond that buffer, and you can lose up to your entire principal. The initial estimated value is expected between $940 and $970 per $1,000, reflecting dealer commissions of $9.80 per $1,000 and hedging costs. All payments depend on the creditworthiness of The Bank of Nova Scotia.

The Bank of Nova Scotia is offering 134,530 Autocallable Bear Strategic Accelerated Redemption Securities linked to the Nasdaq-100 Index, at a $10 principal amount per unit, for a total public offering price of $1,345,300. Proceeds to BNS before expenses are $9.875 per unit, or $1,328,483.75, reflecting a $0.125 underwriting discount and a $0.05 hedging-related charge per unit.

The notes are senior unsecured debt of BNS with a term of about one year and one week, automatically callable if the Index on an observation date is less than or equal to the Starting Value of 25,518.35. If called, investors receive preset call amounts rising from $10.763 to $13.052 per unit. If the notes are not called and the Nasdaq-100 ends above the Starting Value, investors lose principal in proportion to the Index increase, with up to 100% of principal at risk. The notes pay no interest, do not offer dividends, are not insured by CDIC or FDIC, and have limited expected secondary market liquidity. All payments depend on BNS’s creditworthiness, and the initial estimated value of $9.87 per unit is below the public offering price.

The Bank of Nova Scotia is offering unsecured Autocallable Contingent Coupon Trigger Notes linked to the common stock of Amazon.com, Inc., maturing in March 2027. The notes pay a contingent monthly coupon of at least $9.584 per $1,000 (at least 0.9584% per month, or at least about 11.50% per year) only when Amazon’s closing price on an observation date is at or above 71.00% of the initial price.

Starting in August 2026, the notes are automatically called if Amazon’s closing price on a call observation date is at or above the initial price, returning $1,000 per note plus the applicable coupon, with no further payments. If the notes are not called and Amazon’s final price is below 71.00% of the initial price, investors lose 1% of principal for each 1% decline from the initial price, up to a total loss of principal, and receive no coupon.

The initial estimated value is expected to be $900–$930 per $1,000 note, below the issue price, reflecting internal funding and structuring costs. Payments depend on 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 unsecured, unsubordinated autocallable contingent coupon notes linked to the common stock of JPMorgan Chase & Co. The notes have a principal amount of $1,000 per note, are expected to price on January 23, 2026, and mature on January 26, 2029, unless automatically called earlier.

Investors may receive quarterly contingent coupons of at least $20.75 per note (at least 8.30% per annum) if, on each observation date, the JPMorgan share price is at or above 70% of its initial value. The same 70% level serves as both the coupon barrier and principal protection barrier at maturity. If the notes are not called and the final share value is below this barrier, repayment is reduced one-for-one with JPMorgan’s decline and up to 100% of principal can be lost.

The notes do not provide any participation in JPMorgan share price gains or dividends. They will not be listed, and liquidity is expected to be limited. All payments depend entirely on the creditworthiness of The Bank of Nova Scotia. The initial estimated value is expected to be between $936.70 and $966.70 per $1,000, below the 100% issue price, reflecting selling, structuring and hedging costs.

The Bank of Nova Scotia is offering unsecured, unsubordinated Autocallable Contingent Coupon Notes due January 26, 2029, linked to the common stock of JPMorgan Chase & Co.

The Notes may be automatically called if the JPMorgan share price on specified observation dates is at or above the Initial Value, in which case holders receive the $1,000 principal per Note plus any due Contingent Coupon. If not called, holders receive Contingent Coupons of at least $20.75 per Note (at least 8.30% per annum) only when JPMorgan’s closing price is at or above 70% of the Initial Value.

At maturity, if the Notes have not been called and JPMorgan’s final price is at or above the 70% barrier, principal is repaid in full (plus any due coupon). If it is below the barrier, repayment is reduced one‑for‑one with JPMorgan’s decline, up to a 100% loss of principal. The initial estimated value is expected to be $936.70–$966.70 per $1,000, below the issue price, and the Notes will not be listed on an exchange.

The Bank of Nova Scotia is offering unsecured Contingent Buffer Digital Notes linked to the common stock of Constellation Energy Corporation, maturing on February 10, 2027. Each Note has a $10,000 principal amount and was struck when CEG closed at $289.06, with a buffer level at 80% of that price, or $231.25.

If CEG’s closing value on the Final Valuation Date is at or above the buffer, holders receive cash equal to principal plus a fixed 20.74% digital return, for a total of $12,074 per $10,000 Note, regardless of how much the stock has risen. If the final value is below the buffer, holders receive physical delivery of CEG shares instead of cash, based on a Physical Delivery Amount of 43.2432 shares per Note (rounded down to 43 shares plus cash for the fractional part), exposing them to further stock price moves and potential loss of up to their entire principal.

The Notes pay no interest, will not be listed on an exchange, and secondary liquidity may be limited. All payments are subject to the credit risk of Scotiabank, and the initial estimated value is disclosed as below the issue price due to structuring, hedging and distribution costs.

The Bank of Nova Scotia is issuing $600,000 of unsecured Autocallable Contingent Coupon Notes due January 26, 2029, linked to the common stock of JPMorgan Chase & Co. Each Note has a $1,000 principal amount and was priced at 100% of principal, with estimated value at $967.66 per $1,000 on the trade date.

The Notes pay a contingent coupon of $20.75 per quarter (8.30% per annum) only if JPMorgan’s share price on each observation date is at or above the $208.40 barrier (70% of the $297.72 initial value). The Notes are automatically called if the stock is at or above the initial value on any call observation date, returning principal plus the coupon.

If not called and the final stock value is at or above the $208.40 barrier, investors receive full principal back (plus any due coupon). If it is below the barrier, repayment is reduced one-for-one with JPMorgan’s decline from the initial value, down to a possible 100% loss of principal. The Notes are senior unsecured obligations of Scotiabank, are not CDIC or FDIC insured, and will not be listed on any exchange.

The Bank of Nova Scotia is issuing $735,000 of senior unsecured Autocallable Contingent Coupon Notes linked to the common stock of Apple, Amazon.com and Morgan Stanley.

The notes pay a contingent coupon of $32.50 per $1,000 (13.00% per annum) on scheduled dates only if, on each observation date, the closing value of every reference stock is at or above its contingent coupon barrier, set at 60.00% of its initial value. The same 60.00% level functions as a protection barrier at maturity.

The notes are automatically called, returning principal plus the coupon, if on any call observation date each stock is at or above its initial value. If not called and the worst-performing stock finishes below its barrier on the final valuation date, investors lose principal in line with that stock’s percentage decline, up to a 100% loss.

The original issue price is 100% of principal, with 2.00% underwriting commissions; the initial estimated value is $931.23 per $1,000. The notes are not listed, are subject to the credit risk of Scotiabank, and carry complex tax and liquidity risks.

The Bank of Nova Scotia is offering $2,865,000 of unsecured Autocallable Contingent Coupon Notes due January 26, 2029, linked to Bank of America common stock.

The notes pay an 8.50% per annum contingent coupon ($21.25 per $1,000) only if BAC’s closing value on an observation date is at or above a barrier of $36.20, equal to 70% of the $51.72 initial value. The notes are automatically called, returning principal plus that period’s coupon, if BAC is at or above the initial value on any call observation date. If not called and BAC finishes below the $36.20 barrier on the final valuation date, repayment of principal is reduced one-for-one with BAC’s loss and can fall to zero. The notes are subject to Scotiabank’s credit risk, are not insured, will not be listed, and had an initial estimated value of $966.94 per $1,000, below the issue price.

The Bank of Nova Scotia is issuing $8,213,000 of unsecured Autocallable Contingent Coupon Buffer Notes linked to the common stock of CrowdStrike Holdings, Inc., maturing on February 11, 2027. Each $1,000 note can be automatically called if CrowdStrike’s closing price on an observation date is at least the Initial Value of $452.49, returning principal plus a $49.25 contingent coupon and any unpaid coupons.

If the notes are not called, investors receive the $49.25 coupon on any observation date when the stock closes at or above 80% of the initial value ($361.99). At maturity, if the final stock value is at or above this 80% buffer, principal is repaid; if it is below, investors lose 1.25% of principal for each 1% decline beyond the 20% buffer, up to a total loss. The notes are not insured by CDIC or FDIC, will not be listed, and their initial estimated value is $986.04 per $1,000, reflecting fees, funding costs and hedging.

The Bank of Nova Scotia is issuing $120,000 of unsecured Autocallable Contingent Coupon Notes linked to the common stock of NRG Energy, Inc. Each note has a $1,000 principal amount and was priced at 100% of principal.

The notes pay a quarterly contingent coupon of $37.125 per note (14.85% per annum) only if NRG’s closing price on the observation date is at or above the barrier of $89.58, which is 60% of the initial value of $149.30. The notes are automatically called early if NRG closes at or above the initial value on any call observation date, returning principal plus that period’s coupon.

If the notes are not called and NRG’s final value is below the barrier, repayment of principal is reduced one-for-one with NRG’s decline from the initial value, and investors can lose up to 100% of principal. The bank’s initial estimated value is $954.57 per $1,000, below the issue price, and all payments are subject to the credit risk of The Bank of Nova Scotia.

The Bank of Nova Scotia is issuing $265,000 of Autocallable Contingent Coupon Notes linked to the common stock of First Solar, Inc. Each Note has a $1,000 principal amount, original issue price of 100%, and a term to January 26, 2029, unless called earlier.

The Notes pay a contingent coupon of $37 per Note (14.80% per annum) on scheduled dates only if First Solar’s share price on the relevant observation date is at or above the Contingent Coupon Barrier Value of $121.08, which is 50% of the Initial Value of $242.15. The same 50% level also acts as the Barrier Value for principal protection at maturity.

The Notes are automatically called if First Solar’s closing price on any call observation date is at or above the Initial Value, returning $1,000 plus the applicable coupon, with no further payments. If the Notes are not called and the final share price is below the Barrier, repayment is reduced one-for-one with the stock’s loss, and investors can lose up to 100% of principal. The Notes are senior unsecured obligations of the Bank, not listed on an exchange, and their payments depend entirely on the Bank’s credit.

The Bank of Nova Scotia is offering $390,000 of unsecured Autocallable Contingent Coupon Notes due January 26, 2029, linked to the common stock of AppLovin Corporation. Each Note has a $1,000 principal amount and pays a contingent coupon of $60.00 per Note per period (24.00% per annum) only if, on a quarterly observation date, AppLovin’s share price is at or above the Contingent Coupon Barrier Value of $262.21, which is 50.00% of the Initial Value of $524.41. The Notes are automatically called, returning principal plus the applicable coupon, if AppLovin’s closing value on any call observation date is at or above the Initial Value.

If the Notes are not called and AppLovin’s Final Value on January 23, 2029 is at or above the Barrier Value of $262.21, holders receive their $1,000 principal back (plus any coupon due). If the Final Value is below the Barrier Value, repayment is reduced one-for-one with AppLovin’s decline from the Initial Value, and up to 100% of principal can be lost. The Notes do not provide any participation in stock gains, pay no guaranteed interest, 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 $953.78 per $1,000 Note, below the original issue price.

The Bank of Nova Scotia is issuing $2,734,000 in unsecured autocallable contingent coupon notes linked to the common stock of Tesla, Inc. The notes run to January 26, 2029, with an Initial Value of $449.06 for Tesla and a Barrier and Contingent Coupon Barrier of $224.53 (50% of the initial level).

Investors receive a contingent coupon of $36.75 per $1,000 note (14.70% per year) only if Tesla’s closing price on a quarterly observation date is at or above the barrier; otherwise no coupon is paid. The notes are automatically called if Tesla closes at or above the Initial Value on any call observation date, returning principal plus that period’s coupon.

If not called and Tesla’s final value is below the barrier, repayment at maturity is reduced one-for-one with Tesla’s decline from the Initial Value, down to a potential 100% loss of principal. The initial estimated value is $965.71 per $1,000 note, below the issue price, and the notes are subject to the credit risk of the Bank and will not be listed on an exchange.

The Bank of Nova Scotia is offering $250,000 of autocallable contingent coupon notes linked to the common stock of Arista Networks, Inc. The notes pay a contingent coupon of $41 per $1,000 note (16.40% per annum) on scheduled dates only if Arista’s share price is at or above a barrier of $81.80, equal to 60% of the $136.34 initial value. The notes can be automatically called on observation dates if the stock closes at or above the initial value, returning principal plus the applicable coupon and ending the investment early.

If the notes are not called and the final stock value is at or above the $81.80 barrier, investors receive only their $1,000 principal per note (plus any final coupon). If the final value is below the barrier, repayment is reduced one-for-one with the stock’s decline from the initial value, and investors can lose up to 100% of principal. The notes are senior unsecured obligations of Scotiabank, are not insured, and will not be listed, so secondary market liquidity may be limited. The bank’s initial estimated value was $961.20 per $1,000, below the issue price.

The Bank of Nova Scotia is issuing three tranches of senior medium-term notes: $300,000,000 floating rate notes due 2030, $1,350,000,000 4.247% fixed-to-floating notes due 2030, and $1,100,000,000 4.813% fixed-to-floating notes due 2034. All are unsecured, unsubordinated obligations of the bank and are issued at 100% of principal.

The floating portions pay interest at Compounded SOFR plus 0.73% for the 2030 notes and plus 1.045% for the 2034 notes, with quarterly payments, while the fixed periods pay semi-annual coupons at the stated fixed rates. The bank may redeem each series before maturity through make-whole and par call provisions at defined dates.

The notes are issued in minimum denominations of $2,000, will settle through DTC (including Euroclear and Clearstream), will not be listed on any securities exchange, and are subject to Canadian bail-in powers, meaning they can be converted into bank common shares or varied or extinguished under the CDIC Act. The notes are not insured by Canadian or U.S. deposit insurance agencies.

The Bank of Nova Scotia is issuing $500,000 of unsecured Autocallable Contingent Coupon Notes with Memory Coupon due January 27, 2027, linked to the common stock of Cipher Mining Inc. (CIFR). Each Note has a $1,000 principal amount and pays a contingent coupon of $85.00 per Note (34.00% per annum) only if CIFR’s closing value on specified observation dates is at or above the Contingent Coupon Barrier of $8.86, equal to 50.00% of the Initial Value of $17.72. Missed coupons become “memory” coupons and may be paid later if conditions are met.

The Notes are autocallable: if CIFR’s closing value on a call observation date is at or above the Initial Value, investors receive $1,000 per Note plus the applicable coupon and any unpaid coupons, and the Notes terminate early. If not called and CIFR’s final value on the valuation date is at or above the Barrier Value of $8.86, investors receive full principal plus any due coupons. If the final value is below the Barrier, repayment is reduced one-for-one with CIFR’s decline from the Initial Value, with losses up to 100% of principal possible.

The Notes are senior unsecured obligations of Scotiabank, are not insured by CDIC or FDIC, and will not be listed on an exchange. The initial estimated value on the trade date is $903.55 per $1,000, below the issue price, reflecting funding and hedging costs. Liquidity is expected to be limited and depends on market-making by an affiliate.

The Bank of Nova Scotia is offering unsecured Autocallable Contingent Coupon Buffered Notes linked to the common stock of NVIDIA Corporation, maturing in March 2027. These notes pay a monthly contingent coupon of 0.975% (up to 11.70% per year) only when NVIDIA’s closing price on an observation date is at least 75.00% of the initial price.

The notes are automatically called, starting August 2026, if on a call observation date NVIDIA closes at or above the initial price; in that case, investors receive $1,000 per note plus the applicable coupon and no further payments. If the notes are not called and, on the final valuation date, NVIDIA is at or above 75.00% of the initial price, investors receive $1,000 plus the final coupon.

If at maturity NVIDIA’s final price is below 75.00% of the initial price, repayment of principal is reduced: investors lose 1% of principal for every 1% decline beyond the 25.00% buffer, up to a maximum loss of 75.00%. The initial estimated value is expected between $900 and $930 per $1,000 note, reflecting fees and hedging costs. All payments depend on the creditworthiness of The Bank of Nova Scotia, and the notes will not be listed on an exchange.

The Bank of Nova Scotia is offering senior unsecured market-linked notes tied to the worst performer of Axon Enterprise, Boeing, Booz Allen Hamilton, and Howmet Aerospace, maturing in February 2029. Each security has a $1,000 face amount and may pay a monthly contingent coupon at a rate of at least 17.25% per annum if, on the relevant calculation day, the lowest performing stock is at or above 50% of its starting price.

From July 2026 to December 2028, the notes are auto-callable if the lowest performing stock is at or above its starting price, returning face amount plus a final coupon. If not called, principal is protected only if the worst stock on the final calculation day is at or above 50% of its starting price; otherwise investors lose more than 50%, up to all, of principal. Investors do not participate in any stock upside or dividends and are fully exposed to downside below the threshold.

The original offering price is $1,000 per security, with agent discounts of up to $23.25 and estimated issuer value between $880.00 and $906.93. The notes are designed to be held to maturity, are not exchange listed, and all payments depend on the credit of The Bank of Nova Scotia.

The Bank of Nova Scotia is issuing $1,985,000 in Autocallable Contingent Coupon Buffered Notes linked to Constellation Energy Corporation common stock, maturing February 25, 2027. These unsecured senior notes pay a monthly contingent coupon of $8.542 per $1,000 (0.8542% per month, about 10.25% per year) only if CEG’s closing price on each observation date is at least 75% of the $295.40 initial price.

Starting July 2026, the notes are automatically called if CEG’s price on a call observation date is at or above the initial price, returning $1,000 plus that month’s coupon, with no further payments. If not called, principal is protected only down to 75% of the initial price at maturity; below that level, investors lose 1% of principal for each 1% further decline, up to a 75% loss and no coupon.

The notes will not be listed, may have limited liquidity and are subject to Scotiabank’s credit risk. The initial estimated value is $961.70 per $1,000, below the issue price, reflecting dealer compensation, structuring fees and hedging costs.

The Bank of Nova Scotia is offering $813,000 of unsecured Autocallable Contingent Coupon Buffered Notes linked to NVIDIA Corporation stock, maturing February 25, 2027. The notes pay a contingent coupon of $8.167 per $1,000 (0.8167% monthly, about 9.80% per year) on each monthly observation date only if NVIDIA’s closing price is at least 75% of the $178.07 initial price. Starting July 2026, the notes are automatically called if NVIDIA closes at or above the initial price on a call observation date, returning $1,000 plus the coupon and ending future payments.

If not called, holders receive at maturity $1,000 plus the final coupon if NVIDIA’s final price is at least 75% of the initial price. If the final price is below 75%, principal is reduced 1% for each 1% decline beyond the 25% buffer, up to a 75% loss of principal, and no final coupon is paid. The notes are senior unsecured obligations of Scotiabank, not listed on any exchange, and their estimated initial value is $970.50 per $1,000, below the issue price, reflecting selling costs and hedging. Investors forgo NVIDIA dividends and rely entirely on Scotiabank’s creditworthiness.

The Bank of Nova Scotia is offering senior unsecured digital notes linked to the EURO STOXX 50® Index, with a term expected to be about 22 to 25 months. The notes pay no interest and are not principal-protected.

At maturity, for each $1,000 note, if the index’s final level is at least 85.00% of its initial level, investors receive a fixed maximum payment, expected to be between $1,136.70 and $1,160.80. If the index falls more than 15% below its initial level, repayment drops according to a buffer rate of approximately 117.65%, so losses accelerate and can reach 100% of principal.

The initial estimated value is expected between $953.70 and $983.70 per $1,000, below the issue price, reflecting internal funding and hedging costs. The notes will not be listed, secondary liquidity will rely on Scotia Capital (USA) Inc., and all payments depend on the creditworthiness of The Bank of Nova Scotia. Investors also face equity market, Eurozone, currency, liquidity and tax risks.

The Bank of Nova Scotia is issuing $9,750,000 of unsecured Autocallable Contingent Coupon Trigger Notes linked to the common stock of NVIDIA Corporation, maturing February 25, 2027. Investors receive a monthly contingent coupon of $10.292 per $1,000 (1.0292%, about 12.35% per annum) only when NVIDIA’s closing price on an observation date is at least 59% of the $178.07 initial price.

Starting in July 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 applicable coupon. If not called and the final price is at least 59% of the initial price, investors get $1,000 plus the final coupon. If the final price is below 59%, holders receive NVIDIA shares (or cash for fractions) worth less than 59% of principal, resulting in a substantial or total loss.

The initial estimated value is $970.09 per $1,000, below the issue price due to commissions, structuring fees and hedging costs. The notes are not listed, may have limited liquidity, pay no dividends on NVIDIA, and all payments depend on the creditworthiness of The Bank of Nova Scotia.

The Bank of Nova Scotia is issuing senior unsecured Market Linked Securities under its Series A program, offering a total original amount of $1,349,000 (1,349 securities at $1,000 each). These auto-callable notes pay a 16.25% per annum contingent coupon, calculated and paid monthly only if the lowest performing of Broadcom, Meta Platforms, Shopify or Tesla closes at or above 40% of its starting price; missed coupons can be paid later under a memory feature.

From July 2026 to December 2028 the notes are automatically called at par plus applicable coupons if the lowest stock is at or above its starting price. If not called, at maturity in January 2029 investors receive $1,000 only if the lowest stock is at or above its 40% downside threshold; otherwise repayment is reduced in line with that stock’s decline, with losses greater than 60% possible. The Bank’s estimated value is $927.41 per $1,000 security, the notes are not listed, and all payments are subject to Scotiabank’s credit risk with no CDIC or FDIC insurance.

The Bank of Nova Scotia is offering $5,725,000 of digital notes linked to the EURO STOXX 50® Index, maturing October 22, 2027. The notes pay no interest and the return depends entirely on index performance between January 20, 2026 and October 20, 2027.

If the final index level is at least 85.00% of the initial level of 5,892.08, holders receive a fixed $1,150.00 per $1,000 note, a 15% gain. If the final level is below 85.00%, repayment is reduced using a buffer rate of approximately 117.65%, so losses accelerate below the 15.00% threshold and can reach 100% 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 $973.50 per $1,000, below the issue price, reflecting internal funding and hedging costs, and secondary market liquidity is expected to be limited.

The Bank of Nova Scotia is offering $5,812,000 of senior unsecured Market Linked Securities at $1,000 per note under its Series A program. The notes run to January 25, 2029 and are linked to the lowest performing of Broadcom, Alphabet Class A, Meta Platforms and NVIDIA.

Investors may receive a 19.35% per annum contingent coupon, paid monthly only if on each calculation day the lowest stock is at or above 60% of its starting price, with a memory feature for missed coupons. From April 2026 to December 2028, the notes are auto‑callable at par plus coupons if the lowest stock is at or above its starting price.

If not called, principal is protected at maturity only if the lowest stock finishes at or above 60% of its starting price; otherwise repayment is $1,000 multiplied by that stock’s performance, so losses can exceed 40% and reach 100%. The notes do not participate in any stock upside or pay dividends, carry the credit risk of Scotiabank, have an estimated value of $929.79 per $1,000, and are not exchange‑listed.

The Bank of Nova Scotia is offering principal-at-risk Contingent Income Auto-Callable Securities linked to the common stock of Advanced Micro Devices, Inc. (AMD), maturing on or about February 2, 2029. Each $1,000 security can pay a quarterly contingent coupon of $36.75, equivalent to 14.70% per annum, for any determination date on which AMD’s closing price is at least 50.00% of the initial share price. A “memory” feature allows previously missed coupons to be paid later if the threshold is met.

If on any non-final determination date AMD’s price is at least 100.00% of the initial share price, the note is automatically called and repays $1,000 plus the applicable coupon and any unpaid coupons; investors then receive no further payments. At maturity, if the note has not been called and AMD is at or above 50.00% of the initial price, investors receive $1,000 plus due coupons. If AMD ends below 50.00%, repayment is reduced 1-for-1 with AMD’s decline and can fall to zero, meaning loss of the entire investment.

The securities are senior unsecured debt of BNS, carry full issuer credit risk, will not be listed on an exchange, and have an estimated initial value between $936.44 and $966.44 per $1,000 issue price, reflecting embedded fees and funding costs.

The Bank of Nova Scotia is offering senior unsecured Contingent Income Auto-Callable Securities linked to the common stock of Vertiv Holdings Co, maturing on or about February 2, 2029. Each security has a stated principal amount and issue price of $1,000.

The notes can pay a contingent quarterly coupon of $41.275 per security (equivalent to 16.51% per annum) on any determination date when Vertiv’s closing price is at least 50% of the initial share price, with a “memory” feature that can make up missed coupons later if the condition is met. If on any non-final determination date the stock is at or above 100% of the initial share price, the notes are automatically called for $1,000 plus applicable coupons, ending all future payments.

At maturity, if the final share price is at least 50% of the initial price, investors receive $1,000 plus any due coupons. If it is below 50%, the payoff is $1,000 multiplied by the share performance factor, so losses mirror Vertiv’s decline and can reach 100% of principal. The notes do not participate in any stock upside and pay no dividends. All payments depend on BNS’s credit, and the initial estimated value per $1,000 is expected to be between $932.09 and $962.09, below the issue price.

The Bank of Nova Scotia is offering senior unsecured Trigger Autocallable Notes linked to the Russell 2000® Index, with a term of about five years and quarterly observation dates after 12 months. The Notes are automatically called if the index closes at or above its initial level on any observation date, in which case holders receive a predefined call price that combines principal and a call return that increases over time, based on a call return rate between 8.05% and 9.05% per annum.

If the Notes are not called and the final index level is at or above 75% of the initial level, investors receive the $10 principal per Note at maturity. If the final level is below this downside threshold, repayment is reduced in line with the index decline, up to a total loss of principal. The Notes pay no interest, are not listed, carry significant liquidity and market risks, and all payments are subject to BNS credit risk. The initial estimated value is expected to be between $9.262 and $9.562 per $10 Note, below the issue price.

The Bank of Nova Scotia is offering unsecured, unsubordinated Autocallable Contingent Coupon Notes with Memory Coupon linked to the common stock of Cipher Mining Inc. The Notes have a term of about one year and a minimum denomination of $1,000 per Note.

Investors can receive contingent coupons of $85.00 per Note (equivalent to 34.00% per annum) on specified observation dates if Cipher Mining’s stock closes at or above the Contingent Coupon Barrier Value of $8.86, which is 50.00% of the $17.72 Initial Value. Missed coupons are not lost if a later observation date meets the barrier, but no coupons are ever paid if the Final Value is below the barrier.

If the Notes are not automatically called and the Final Value is at or above the $8.86 Barrier Value, investors receive their $1,000 principal back plus any due coupons. If the Final Value is below the Barrier Value, repayment is $1,000 + ($1,000 × Reference Asset Return), creating one-for-one downside exposure and potential loss of up to 100% of principal. The initial estimated value is expected to be between $892.44 and $902.44 per $1,000 Note, there is no exchange listing, and all payments depend on the creditworthiness of The Bank of Nova Scotia.

The Bank of Nova Scotia is offering $4,480,000 of Trigger Autocallable Contingent Yield Notes linked to the S&P 500 Index, maturing in January 2028. These senior unsecured notes pay a 9.00% per annum contingent coupon only if the index is at or above a coupon barrier set at 75% of the initial level on each quarterly observation date.

The notes can be called automatically after six months if the S&P 500 closes at or above its initial level on an observation date, in which case investors receive principal plus the applicable coupon and the product terminates. If the notes are not called and the index is at or above the 75% downside threshold at maturity, principal is repaid, but if it ends below that level, repayment is reduced one-for-one with the index decline and investors can lose all of their investment.

The notes do not pay dividends, have no upside participation beyond contingent coupons, will not be listed on an exchange, and all payments depend on the creditworthiness of BNS since they are not insured or bail-inable.

The Bank of Nova Scotia is offering $3,000,000 of Trigger Autocallable Contingent Yield Notes linked to the least performing of the Russell 2000 Index and EURO STOXX 50 Index, maturing January 25, 2036. Each $10 Note pays a 7.80% per annum contingent coupon (about $0.195 per quarter) only when both indices close at or above 75% of their initial levels on an observation date, and can be automatically called quarterly after 12 months if both are at or above their initial levels, returning principal plus that period’s coupon.

If the Notes are not called and, at maturity, either index finishes below its 75% downside threshold, repayment is reduced in line with the loss of the worst-performing index, up to a complete loss of principal. The initial estimated value is $9.062 per $10 Note, below the issue price, and investors are fully exposed to BNS credit risk and limited secondary market liquidity, along with complex U.S. tax treatment.

The Bank of Nova Scotia is issuing $1,950,000 of capped buffered return notes linked to the S&P 500® Index, maturing on January 24, 2031. Each note has a $1,000 principal amount, no coupons, and all payments are made at maturity.

If the index rises, investors participate in the positive price return up to a maximum return of 57.75%, or $1,577.50 per $1,000 note. If the final index value is at or above the 20% downside buffer (80% of the initial level), investors receive full principal back. Below that buffer, losses match further index declines and can reach up to 80% of principal.

The notes are senior unsecured obligations of the Bank, not insured by CDIC or FDIC, and will not be listed on an exchange, so liquidity may be limited. The initial estimated value is $947.32 per $1,000, lower than the issue price, reflecting internal funding and hedging costs.

The Bank of Nova Scotia is offering Contingent Income Auto-Callable Securities due January 27, 2028 linked to the common stock of Carvana Co. Each security has a stated principal amount of $1,000 and can pay a contingent quarterly coupon of $54.375 per security, equivalent to 21.75% per annum, for any determination date on which Carvana’s closing price is at or above 50.00% of the initial share price, the downside threshold price of $227.51.

If on any non-final determination date Carvana’s closing price is at or above the call threshold price of $455.02, equal to 100.00% of the initial share price, the notes are automatically redeemed for principal plus the applicable coupon, including any previously unpaid coupons under the memory feature. If the notes are not called and the final share price is below the downside threshold, repayment of principal is reduced 1-to-1 with Carvana’s decline and can fall to zero, so investors may lose their entire investment.

All payments depend on BNS’s credit. The securities are not listed, may have limited liquidity, and have an estimated value on the pricing date between $936.62 and $966.62 per $1,000 issue price, reflecting selling, structuring and hedging costs.

The Bank of Nova Scotia is offering Autocallable Contingent Coupon Trigger Notes linked to the common stock of UnitedHealth Group Incorporated. These unsecured senior notes pay a contingent monthly coupon of $9.209 per $1,000 (0.9209% monthly, about 11.05% per year) only if the stock closes at or above 69.00% of the initial price on each observation date.

The notes can be automatically called on observation dates from July 2026 through January 2027 if the stock closes at or above the initial price, returning $1,000 per note plus the applicable coupon, after which no further payments are made. If not called, at maturity in March 2027 you receive $1,000 plus the final coupon if the stock is at or above 69.00% of the initial price.

If the final stock price is below 69.00% of the initial price, repayment is reduced dollar‑for‑dollar with the stock’s decline, and you can lose up to your entire principal with no final coupon. Investors do not receive dividends or voting rights on UnitedHealth shares. The notes will not be listed, are subject to the credit risk of The Bank of Nova Scotia, and have an initial estimated value of $925.00–$955.00 per $1,000 note, less than the 100% issue price due to commissions, structuring fees and hedging costs.