Bank of Nova Scotia 424B Filings

The Bank of Nova Scotia is offering unsecured senior Autocallable Contingent Coupon Notes linked to the common stock of AppLovin Corporation. Each Note has a $1,000 principal amount, with a minimum investment of $1,000 and integral multiples of $1,000.

The Notes have a term to January 26, 2029, unless automatically called earlier if AppLovin’s closing value on any Call Observation Date is at or above the Initial Value. If not called, a Contingent Coupon of at least $60 per Note per quarter (at least 24.00% per annum) is paid only when the stock’s closing value is at or above the Contingent Coupon Barrier Value, set at 50.00% of the Initial Value. Coupons are not guaranteed and may never be paid.

At maturity, if the Notes are not called and the Final Value is at or above the 50.00% Barrier Value, holders receive the $1,000 principal per Note (plus any due coupon). If the Final Value is below the Barrier Value, repayment is reduced one-for-one with the stock’s loss from the Initial Value, and investors can lose up to 100% of principal.

The Notes are unsubordinated, unsecured obligations of The Bank of Nova Scotia, subject to its credit risk, are not insured by the CDIC or FDIC, and will not be listed on any securities exchange. The initial estimated value is expected to range between $925.36 and $955.36 per $1,000, below the 100% Original Issue Price, reflecting internal funding and structuring and hedging costs. Underwriting commissions are up to 2.00%, with at least 98.00% of proceeds to the Bank.

The Bank of Nova Scotia is offering unsecured, unsubordinated Capped Buffered Return Notes linked to the S&P 500® Index, maturing on January 24, 2031. Each Note has a $1,000 principal amount and is issued at 100% of principal, with a minimum investment of $1,000.

At maturity, if the S&P 500® Final Value is above its Initial Value, investors receive $1,000 plus the index gain, capped by a Maximum Return of at least 57.00%. If the index is flat or down but not below 80% of the Initial Value (the 20% buffer), investors receive back $1,000. If the index falls below this Buffer Value, repayment is reduced 1% for each 1% decline beyond the 20% buffer, with losses up to 80% of principal.

The Notes pay no interest or coupons, are not listed on any exchange, and all cash payments occur only at maturity, subject to the Bank’s credit risk. The initial estimated value is expected between $917.78 and $947.78 per $1,000 Note due to internal funding rates, hedging costs and selling commissions.

The Bank of Nova Scotia is offering $12,000,000 of senior unsecured Buffered Contingent Income Auto-Callable Securities with Memory Coupon and Downside Leverage linked to Alphabet Inc. Class A common stock. Each $1,000 security can pay a contingent monthly coupon of $15.70 (equivalent to 18.84% per annum) for any determination date on which Alphabet’s closing price is at or above 85% of the initial share price of $335.97. If on any non-final determination date the stock closes at or above 100% of the initial price, the notes are automatically redeemed at par plus the applicable coupon and any unpaid coupons.

If the notes are not called and the final share price is at or above the 85% downside threshold, investors receive par at maturity plus the due coupon and any unpaid coupons. If the final share price is below the downside threshold, the maturity payment is the “cash value,” causing investors to lose approximately 1.1765% of principal for every 1% the final price falls below the threshold, up to a total loss. The notes are principal-at-risk, are not listed, have an estimated value of $992.60 per $1,000 at pricing, pay no dividends and are fully exposed to BNS credit risk.

The Bank of Nova Scotia is offering unsecured senior digital notes linked to the S&P 500® Index with a term expected to be about 17 to 20 months. The notes pay no interest and will not be listed on any exchange.

At maturity, for each $1,000 note, if the final S&P 500® level is at or above 85.00% of the initial level, investors receive a fixed maximum payment amount, expected to be between $1,092.00 and $1,108.00. If the index falls more than 15.00% from the initial level, repayment is reduced, with losses of approximately 1.1765% for every additional 1% index decline, down to a potential 100% loss of principal.

The initial estimated value is expected to be between $954.00 and $984.00 per $1,000, below the issue price, reflecting internal funding and fees, including selling commissions of 1.13% (or $11.30 per $1,000). Any payment depends on the creditworthiness of The Bank of Nova Scotia, and investors face valuation, liquidity, market and tax risks.

The Bank of Nova Scotia is offering $5,903,000 of S&P 500®‑linked digital notes maturing on March 29, 2028 under its Senior Note Program. Each note has a $1,000 principal amount, pays no interest and is an unsecured, unsubordinated obligation of the bank.

The payoff depends solely on the S&P 500® Index level on the March 27, 2028 valuation date. If the index is at or above 85% of the initial level of 6,926.60, investors receive a fixed $1,177 per $1,000 note, a 17.7% capped gain. If the index has fallen more than 15%, repayment is reduced, with losses of about 1.1765% for every additional 1% index decline, down to a potential 100% loss of principal.

The notes do not provide dividends or voting rights in S&P 500 companies and will not be listed on an exchange, so liquidity may be limited. Any payment depends on the creditworthiness of The Bank of Nova Scotia. The bank’s initial estimated value was $991 per $1,000 note, below the original issue price, reflecting internal funding and hedging costs.

The Bank of Nova Scotia is offering unsecured Autocallable Contingent Coupon Notes linked to the common stock of NRG Energy, Inc., each with a $1,000 principal amount and a scheduled maturity on January 26, 2029, unless automatically called earlier.

The Notes can be automatically called if NRG’s stock closes at or above its initial value on any quarterly call observation date, returning principal plus any due contingent coupon. If not called, investors receive a contingent coupon of at least $37.125 per Note (at least 14.85% per annum) for each observation date on which the stock closes at or above 60% of its initial value. At maturity, if the stock is at or above the 60% barrier, principal is repaid; if it is below, repayment is reduced one-for-one with the stock’s decline, up to a complete loss of principal.

The initial estimated value of the Notes is expected to be between $929.09 and $959.09 per $1,000 original issue price, reflecting selling, structuring and hedging costs. The Notes pay no fixed interest, do not provide any dividends from NRG, will not be listed on an exchange, and all payments depend on the creditworthiness of The Bank of Nova Scotia.

The Bank of Nova Scotia is offering Digital Notes linked to the EURO STOXX 50® Index that pay no interest and expose holders to index performance over roughly 20 to 23 months. Each note has a $1,000 principal amount and is issued at 100% of principal in U.S. dollars.

At maturity, if the index’s final level is at least 85.00% of its initial level, holders receive a fixed maximum payment amount, expected to be between $1,123.50 and $1,145.20 per $1,000. If the index falls more than 15.00% from its initial level, repayment drops by approximately 1.1765% for every 1% decline beyond that buffer, via a buffer rate of about 117.65%, and investors can lose up to 100% of principal.

The notes’ return is based on price changes only; investors forgo dividends on the underlying European stocks and have no shareholder rights. The initial estimated value is expected to range from $954.40 to $984.40 per $1,000, below the issue price, reflecting the bank’s internal funding rate, hedging costs and dealer compensation, and the notes will not be listed, so liquidity may be limited. All payments depend on the creditworthiness of The Bank of Nova Scotia.

The Bank of Nova Scotia is offering unsecured Autocallable Contingent Coupon Notes linked to Tesla, Inc. common stock, maturing January 26, 2029. The Notes may be automatically called on quarterly observation dates if Tesla’s closing value is at or above the Initial Value, in which case investors receive $1,000 per Note plus any due Contingent Coupon and the Notes terminate early.

If not called, investors receive a Contingent Coupon of at least $36.75 per Note (at least 14.70% per annum) on each observation date only when Tesla’s closing value is at or above the Contingent Coupon Barrier Value, set at 50.00% of the Initial Value. If the Final Value on the January 23, 2029 Final Valuation Date is at or above the 50.00% Barrier Value, principal is returned; if it is below, repayment is reduced one-for-one with Tesla’s decline and up to 100% of principal can be lost.

The minimum investment is $1,000, and the initial estimated value is expected between $934.61 and $964.61 per $1,000 Principal Amount, below the 100% Original Issue Price due to selling, structuring and hedging costs. The Notes are senior unsecured obligations of The Bank of Nova Scotia, not listed on any exchange, do not pay guaranteed interest, and all payments depend on the Bank’s creditworthiness.

The Bank of Nova Scotia is offering autocallable contingent coupon trigger notes linked to Eli Lilly and Company common stock, maturing in March 2027. These unsecured notes can be automatically called starting in July 2026 through January 2027 if Eli Lilly’s stock on an observation date is at or above the initial price, in which case investors receive $1,000 per note plus the applicable coupon.

Investors are eligible for a monthly contingent coupon of $9.875 per $1,000 note (0.9875% monthly, up to 11.85% per annum) whenever the stock closes at or above 70.00% of the initial price on an observation date. If the notes are not called and the final stock price is below 70.00% of the initial price, repayment is reduced dollar-for-dollar with the stock decline, and investors can lose up to their entire principal and receive no coupon at maturity. The initial estimated value is expected to be $925.00–$955.00 per $1,000, and the notes are not listed and are subject to Bank of Nova Scotia credit risk.

The Bank of Nova Scotia is offering $4,272,000 of Capped Buffered Enhanced Participation Notes linked to the MSCI EAFE® Index, maturing on June 11, 2027. These notes pay no interest and your final payment depends entirely on index performance between January 13, 2026 and June 9, 2027.

If the index ends above the initial level of 2,972.93, you receive 160% of the index gain, but your total payoff is capped at $1,191.04 per $1,000 note. If the index is flat or down by up to 10%, you receive your $1,000 principal. Below a 10% decline, losses accelerate at about 1.1111% for every additional 1% drop, so you can lose all of your investment.

The notes are unsecured senior obligations of Scotiabank, are not insured, and will not be listed on an exchange. The initial estimated value is $999.70 per $1,000, reflecting internal funding and hedging costs, and liquidity may be limited, potentially leading to an immediate and persistent discount in secondary trading.

The Bank of Nova Scotia is offering senior unsecured “principal at risk” notes that pay a high contingent quarterly coupon linked to the common stock of Tesla, Inc.. Investors can receive a coupon of $34.50 per $1,000 (equivalent to 13.80% per annum) for each quarter in which Tesla’s closing price is at or above 50% of the initial share price. A “memory” feature allows missed coupons to be paid later if the test is subsequently met.

Starting from the second determination date, the notes auto-call if Tesla’s price is at or above 100% of the initial share price, returning principal plus the applicable coupon and any unpaid coupons. If the notes are not called and Tesla’s final price is below the 50% downside threshold, repayment is reduced 1‑for‑1 with Tesla’s decline and can fall to zero, so investors may lose their entire investment. The notes are unsecured obligations of BNS, not listed on an exchange, and BNS estimates their initial value between $936.26 and $966.26 per $1,000 issue price.

The Bank of Nova Scotia is offering three Trigger Autocallable Contingent Yield Notes linked separately to GE Vernova, Alphabet Class A and Truist common stock, each maturing around January 19, 2029, with a principal amount of $10 per Note and a term of about three years.

Investors may receive quarterly contingent coupons only when the underlying stock closes at or above a preset coupon barrier, with indicative rates of 13.30% per annum for GE Vernova and 9.00% per annum for both Alphabet and Truist. The Notes can be called early after six months if the underlying is at or above its initial level, returning principal plus the applicable coupon. If the Notes are not called and the final stock level is at or above the downside threshold (50.00%–64.90% of the initial level, depending on the offering), principal is repaid; otherwise repayment is reduced in line with the stock’s percentage decline, and total loss is possible.

The initial estimated value per $10 Note is expected between $9.22 and $9.66, below the issue price, and the Notes will not be listed, so liquidity may be limited. All payments depend on BNS’s creditworthiness and the tax treatment is complex and uncertain, with U.S. and non-U.S. holders urged to consult tax advisors.

The Bank of Nova Scotia is offering $10,000,000 of Autocallable Contingent Coupon Buffer Notes with Memory Coupon linked to the shares of the SPDR S&P 500 ETF Trust, maturing January 20, 2027. Each Note has a $1,000 principal amount and pays a contingent coupon of $10.10 per Observation Date only if the ETF’s closing value is at or above 95% of its initial level; missed coupons can be paid later if a future Observation Date meets that threshold.

The notes are automatically called, returning principal plus due coupons, if on any Observation Date before maturity the ETF closes at or above its initial value. If held to maturity and the final ETF level is at least 95% of the initial value, investors receive full principal back plus any due coupons; below that, repayment falls on a leveraged basis and up to 100% of principal can be lost. The notes are senior unsecured obligations of Scotiabank, not insured, not listed on any exchange, and their initial estimated value is $993.92 per $1,000 versus $1,000 original issue price, with net proceeds of $9,990,000 after 0.10% fees.

The Bank of Nova Scotia is offering $4,695,000 of autocallable contingent coupon trigger notes linked to the common stock of Amazon.com, Inc., maturing on February 18, 2027. The notes pay a monthly contingent coupon of $7.834 per $1,000 (0.7834% monthly, up to about 9.40% per year) only if Amazon’s closing price on each observation date is at least 70% of the initial price of $246.47.

Starting in July 2026, the notes are automatically called if Amazon’s price on a call observation date is at or above the initial price, returning $1,000 per note plus that month’s coupon. If the notes are not called and the final price on February 12, 2027 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 shares of Amazon worth less than 70% of principal, with no final coupon, meaning a loss of all or a substantial portion of the investment.

The notes are unsecured, unsubordinated obligations of The Bank of Nova Scotia, not insured by any deposit insurer, and all payments depend on the bank’s credit. The initial estimated value is $971.15 per $1,000, below the 100% issue price, reflecting fees, structuring costs and hedging.

The Bank of Nova Scotia is offering $22,220,000 of Autocallable Contingent Coupon Trigger Notes linked to the common stock of NVIDIA Corporation, scheduled to mature on February 18, 2027. The notes pay a monthly contingent coupon of $10.50 per $1,000 (1.05% monthly, up to 12.60% per year) only if NVIDIA’s closing price on each observation date is at least 59.00% of the initial price of $184.94.

The notes can be automatically called starting in July 2026 if NVIDIA’s price on a call observation date is at or above the initial price, in which case investors receive $1,000 per note plus the applicable coupon and no further payments. If the notes are not called and the final price is at least 59.00% of the initial price, investors receive $1,000 plus the final coupon. If the final price is below 59.00%, investors receive a share delivery amount of NVIDIA stock worth less than 59.00% of principal and no final coupon, meaning they can lose all or a substantial portion of their investment. Payments are unsecured obligations of The Bank of Nova Scotia, and the initial estimated value of each $1,000 note is $979.14, below the $1,000 issue price, reflecting fees, hedging costs and the Bank’s internal funding rate.

The Bank of Nova Scotia is offering unsecured Autocallable Contingent Coupon Trigger Notes linked to the common stock of Advanced Micro Devices, Inc. (AMD), maturing in March 2027. These notes are derivative instruments and do not give any ownership, dividend or voting rights in AMD.

Holders may receive a monthly contingent coupon of $13 per $1,000 principal (1.30% per month, up to 15.60% per year) if on an observation date AMD’s closing price is at least 55% of the initial price. Starting in July 2026, if on a call observation date AMD is at or above the initial price, the notes are automatically redeemed at $1,000 plus the coupon for that month.

If the notes are not called and on the final valuation date AMD is below 55% of the initial price, principal is reduced one-for-one with AMD’s decline, and the entire investment can be lost. The initial estimated value is expected to be $900–$930 per $1,000, below the issue price, reflecting internal funding and structuring costs. The notes will not be listed and any payment depends on the creditworthiness of The Bank of Nova Scotia.

The Bank of Nova Scotia is offering $5,329,000 of Autocallable Contingent Coupon Trigger Notes linked to NVIDIA Corporation common stock, in $1,000 denominations. These unsecured senior notes can automatically redeem as early as July 2026 if NVIDIA’s closing price on a call observation date is at or above the initial price of $184.94, returning $1,000 plus a coupon.

On each monthly observation date, investors receive a contingent coupon of $12.209 per $1,000 note (1.2209% monthly, about 14.65% per annum) only if NVIDIA’s price is at or above 59.00% of the initial price. If the notes are not called and the final price on February 12, 2027 is at or above this 59.00% trigger, investors receive $1,000 plus the final coupon.

If the final price is below 59.00% of the initial price, repayment is reduced dollar-for-dollar with NVIDIA’s decline, and investors can lose up to their entire principal and receive no final coupon. The notes are not listed, are subject to the Bank’s credit risk, and had an initial estimated value of $992.03 per $1,000 compared with the 100% original issue price, reflecting fees and hedging costs. Underwriting commissions are 0.65%, or $34,638.50, leaving $5,294,361.50 in proceeds to the Bank.

The Bank of Nova Scotia is offering senior unsecured Contingent Income Auto-Callable Securities linked to the common stock of Broadcom Inc. and maturing on or about January 26, 2029. Each security has a stated principal amount of $1,000 and pays a contingent quarterly coupon of $32.20 (equivalent to 12.88% per annum) only if Broadcom’s share price on the relevant determination date is at least 50.00% of the initial share price.

The notes are automatically called if, on any non-final determination date, Broadcom’s share price is at least 100.00% of the initial share price, in which case investors receive principal plus the applicable coupon (including any unpaid coupons via a “memory” feature), and no further payments. If the notes are not called and Broadcom’s final share price is below the downside threshold of 50.00%, repayment is reduced 1-for-1 with the stock’s decline and can fall to zero.

Investors do not participate in any upside of Broadcom stock, forgo dividends, face limited or no secondary-market liquidity, and are exposed to the full credit risk of BNS. The estimated value on the pricing date is expected to be between $936.50 and $966.50 per $1,000 security, less than the issue price due to selling, structuring and hedging costs.

The Bank of Nova Scotia is offering Contingent Income Auto-Callable Securities linked to the common stock of Palantir Technologies Inc., maturing on or about January 26, 2029. Each $1,000 security can pay a contingent quarterly coupon of $41.625 per security, equivalent to 16.65% per annum, for any determination date on which Palantir’s closing price is at least 50.00% of the initial share price.

If on any non-final determination date Palantir’s closing price is at least 100.00% of the initial share price, the notes are automatically redeemed for the $1,000 stated principal amount plus the applicable coupon and any previously unpaid coupons under the memory feature. If the notes are not called and the final share price is at least 50.00% of the initial share price, investors receive principal back plus the final coupon and any unpaid coupons.

If the notes are not redeemed early and the final share price is below 50.00% of the initial share price, the maturity payment equals $1,000 multiplied by the share performance factor, so the payout will be less than 50.00% of principal and could be zero, resulting in a loss of up to 100% of the investment. Investors do not participate in any stock appreciation and forgo dividends. The estimated value on the pricing date is expected to be between $938.92 and $968.92 per $1,000, reflecting selling, structuring and funding costs. The securities will not be listed, may have limited liquidity, and all payments are subject to BNS credit risk.

The Bank of Nova Scotia is offering unsecured, unsubordinated autocallable contingent coupon buffer notes linked to the SPDR® S&P 500® ETF Trust, maturing on January 20, 2027. The notes have a $1,000 principal amount and a minimum investment of $10,000.

On each monthly Observation Date, if SPY’s closing value is at least 95% of the Initial Value of $693.77, investors receive a $10.10 contingent coupon per note; missed coupons become “memory” amounts that are paid on the next qualifying date. If SPY closes at or above the Initial Value on any Observation Date before maturity, the notes are automatically called, returning principal plus due coupons.

At maturity, if not called and the Final Value is at least 95% of the Initial Value, investors receive full principal plus any due coupons. If the Final Value is below this 5% buffer, repayment is reduced by about 1.0526% of principal for each 1% decline beyond the buffer, up to a total loss. The notes are not listed, may have limited liquidity, their initial estimated value (about $964.96–$994.96 per $1,000) is below issue price, and all payments are subject to the credit risk of the Bank.

The Bank of Nova Scotia is offering senior unsecured Contingent Income Auto-Callable Securities maturing on or about January 26, 2029, linked to the common stock of GE Vernova Inc.

Investors may receive a quarterly contingent coupon of $33.20 per $1,000 note (equivalent to 13.28% per annum) for each determination date on which the GE Vernova share price is at or above 50% of its initial level; missed coupons can be paid later under a memory feature. The notes are automatically called, returning principal plus the applicable coupon(s), if the stock is at or above 100% of the initial price on any non-final determination date.

If the notes are not called and the final share price is below the 50% downside threshold, repayment is reduced 1-for-1 with the stock decline and can be zero, meaning investors may lose their entire principal. The securities do not participate in any stock upside beyond coupons, are not listed, and have an initial estimated value of $944.36–$974.36 per $1,000, below the issue price. All payments are subject to BNS’s credit risk.

The Bank of Nova Scotia is offering Buffered Contingent Income Auto-Callable Securities with Memory Coupon and Downside Leverage linked to Alphabet Inc. Class A shares, maturing on January 20, 2027. Each $1,000 security pays a contingent monthly coupon of $15.70 (an annual rate of 18.84%) for any determination date on which Alphabet’s closing price is at or above the downside threshold of $285.5745, equal to 85% of the initial share price of $335.97.

If on any non-final determination date Alphabet closes at or above the call threshold of $335.97, the notes are automatically redeemed at $1,000 plus the due coupon and any unpaid “memory” coupons, and no further payments are made. If held to maturity and Alphabet is below the downside threshold, investors receive a cash value that causes about 1.1765% loss in principal for every 1% Alphabet finishes below the threshold, up to a total loss of principal.

The securities are senior unsecured obligations of BNS, not principal-protected, not listed on any exchange, and all payments depend on BNS’s credit. The estimated value on the pricing date is expected between $962.63 and $992.63 per $1,000, reflecting embedded fees, hedging costs and BNS’s internal funding rate.

The Bank of Nova Scotia is offering unsecured Autocallable Contingent Coupon Trigger Notes linked to the common stock of Best Buy Co., Inc., maturing in March 2027. Investors receive a monthly contingent coupon of $12.667 per $1,000 (1.2667% monthly, about 15.20% per year) only when Best Buy’s share price on an observation date is at or above 70% of the initial price.

The notes can be automatically called starting in July 2026 if Best Buy’s share price is at or above the initial price on a call observation date, returning $1,000 per note plus that month’s coupon, with no further payments. If the notes are not called and the final price is at or above 70% of the initial price, investors receive $1,000 plus the last coupon. If the final price is below 70%, repayment of principal falls one-for-one with Best Buy’s decline, up to a total loss of the investment and no final coupon. The notes are uninsured senior unsecured obligations of BNS, not listed on any exchange. The initial estimated value is expected to be $925–$965 per $1,000, below the 100% issue price, reflecting dealer commissions and 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 target a 13‑month term to February 25, 2027, with $1,000 principal per note and a 100% original issue price.

Investors may receive a monthly contingent coupon of $9.834 per $1,000 note (0.9834% monthly, up to about 11.80% per year) if on each observation date the UNH share price is at or above 70% of the initial price. Starting in July 2026, the notes are automatically called if UNH closes at or above the initial price on a call observation date, returning $1,000 plus the related coupon.

If the notes are not called and the final UNH price is at least 70% of the initial price, investors receive $1,000 plus the final coupon. If the final price is below 70%, repayment equals $1,000 plus $1,000 times the stock’s percentage return, creating a one‑for‑one loss that can reach 100% of principal. The initial estimated value is expected between $925 and $955 per $1,000, the notes will not be listed, and all payments depend on Bank of Nova Scotia’s credit.

The Bank of Nova Scotia is offering unsecured Autocallable Contingent Coupon Trigger Notes linked to the common stock of Oracle Corporation, maturing on or about March 4, 2027. Each note has a $1,000 principal amount and pays a monthly contingent coupon of $11.25 per $1,000 (1.125% monthly, up to 13.50% per year) only if Oracle’s closing price on the relevant observation date is at or above 56.00% of the initial price. The notes may be automatically called starting in July 2026 if Oracle’s price on a call observation date is at or above the initial price, in which case investors receive $1,000 plus the applicable coupon and the notes terminate early.

If the notes are not called, the amount repaid at maturity depends on Oracle’s final price. If the final price is at or above 56.00% of the initial price, investors receive $1,000 plus the final coupon. If it is below 56.00%, repayment is $1,000 plus $1,000 multiplied by the Oracle return, meaning a 1% loss for every 1% Oracle has fallen from the initial level and potential loss of the entire principal, with no coupon. The initial estimated value is expected between $925.00 and $965.00 per $1,000, below the issue price, reflecting fees and hedging costs. The notes are not insured, will not be listed on an exchange, pay no dividends, and all payments depend on the creditworthiness of The Bank of Nova Scotia.

The Bank of Nova Scotia is offering Autocallable Contingent Coupon Trigger Notes linked to NVIDIA Corporation stock, maturing on or about March 4, 2027. These unsecured senior notes pay a monthly contingent coupon of 1.00% of principal (up to 12.00% per year) only if NVIDIA’s closing price on an observation date is at least 59.00% of the initial price.

Starting in July 2026 through January 2027, the notes will be automatically called if NVIDIA’s price on a call observation date is at or above the initial price, returning principal plus that month’s coupon, with no further payments.

If the notes are not called and NVIDIA’s final price is below 59.00% of the initial price, investors lose 1% of principal for each 1% decline from the initial price, potentially losing their entire investment, and receive no final coupon. The initial estimated value is expected to be $925–$965 per $1,000, below the issue price, reflecting dealer commissions of up to 2.15% and hedging and structuring costs.

The Bank of Nova Scotia is offering $24,362,000 of Contingent Income Auto-Callable Securities due January 12, 2029, linked to Amazon.com, Inc. common stock. These senior unsecured notes can pay a quarterly contingent coupon of $25.50 per $1,000 (10.20% per annum) if Amazon’s closing price on the determination date is at or above 70.00% of the $247.38 initial share price, a downside threshold of $173.166.

If on any non-final determination date Amazon closes at or above 100.00% of the initial share 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 share price is below the downside threshold, repayment is reduced 1-to-1 with Amazon’s decline, and the payment can be less than 70.00% of principal or zero.

Investors do not participate in any stock upside beyond coupons, forgo dividends, face full principal-at-risk and credit risk of BNS, and the notes will not be listed. The estimated value on the pricing date is $971.00 per $1,000, below the issue price, and secondary market liquidity is expected to be limited.

The Bank of Nova Scotia is offering $2,000,000 of Tesla-linked Contingent Income Auto-Callable Securities maturing January 13, 2028. These senior unsecured notes can pay a quarterly coupon of $43.375 per $1,000 (equal to 17.35% per annum) for each determination date on which Tesla’s stock closes at or above 60% of the initial share price of $435.80.

If Tesla’s closing price on a non-final determination date is at or above the call threshold of 100% of the initial share price, the notes are automatically redeemed at $1,000 plus the due coupon (including any “memory” coupons previously missed but later earned), and no further payments are made.

At maturity, if the final Tesla price is at or above the 60% downside threshold, investors receive $1,000 plus the applicable coupon and any unpaid coupons. If it is below that level, repayment is reduced 1-for-1 with Tesla’s decline, and the amount can be less than 60% of principal and as low as zero. The notes are not principal-protected, are not listed on any exchange, have limited liquidity, and all payments are subject to BNS credit risk. The estimated value on the pricing date is $972 per $1,000, below the issue price.

The Bank of Nova Scotia is offering $19,599,000 of Contingent Income Auto-Callable Securities due January 12, 2029, linked to the common stock of Netflix, Inc. Each $1,000 security can pay a quarterly contingent coupon of $27.00 (10.80% per year) if on a determination date Netflix’s closing price is at least 60.00% of the $89.46 initial share price, a downside threshold of $53.676.

If on any non-final determination date Netflix closes at or above the $89.46 call threshold price, the note is automatically redeemed for $1,000 plus that period’s coupon, and no further payments are made. If the notes are not called and, at maturity, Netflix is below the downside threshold, repayment is reduced 1-for-1 with the stock’s decline, and the amount returned can be far below $600 and as low as zero.

Investors do not participate in any stock upside beyond coupons, receive no dividends, and face full principal-at-risk exposure as well as unsecured credit risk of BNS. The securities will not be listed, carry limited liquidity, and have an estimated initial value of $963.30 per $1,000 after built-in fees of $22.50 per security.

The Bank of Nova Scotia is offering $10,811,000 of Capped Buffered Enhanced Participation Notes linked to the S&P 500 Index, maturing on May 3, 2028. These notes pay no interest and the cash you receive at maturity depends entirely on index performance between January 9, 2026 and May 1, 2028.

If the index finishes above the initial level of 6,966.28, you receive 160.00% of the index gain, capped at a maximum payment of $1,264.00 per $1,000 principal. If the index is flat or down by up to 15.00%, you get back $1,000. If it falls by more than 15.00%, your loss accelerates at a buffer rate of about 117.65%, and you could lose up to your entire investment.

The notes are unsecured, unsubordinated obligations of The Bank of Nova Scotia and are not insured by any deposit insurer. They will not be listed on an exchange, and secondary market liquidity may be limited. The initial estimated value is $991.20 per $1,000, reflecting internal funding and hedging costs, so the fair value at issue is below the price paid.

The Bank of Nova Scotia is offering $20,662,000 of Contingent Income Auto-Callable Securities due January 12, 2029, linked to the common stock of GE Vernova Inc. These notes can pay a quarterly contingent coupon of $30 per $1,000 (12.00% per annum) for any determination date when the stock closes at or above 50.00% of the initial share price of $622.50, helped by a "memory" feature that can catch up missed coupons.

The notes may be automatically redeemed early at par plus the applicable coupon and any unpaid coupons if the stock closes at or above the 100.00% call threshold of $622.50 on a non-final determination date. Principal is fully at risk: if at maturity the GE Vernova share price is below the 50.00% downside threshold of $311.25, repayment is reduced one-for-one with the stock’s decline and can fall to zero. The securities are unsecured obligations of BNS, have limited liquidity, and their estimated value at pricing is $964.50 per $1,000, below the issue price, reflecting fees, structuring and hedging costs.

The Bank of Nova Scotia is offering senior unsecured Trigger Autocallable Notes linked to the EURO STOXX 50® Index, maturing around January 21, 2031. Each Note has a $10 principal amount, with a minimum investment of 100 Notes.

The Notes can be automatically called quarterly after 12 months if the index closes at or above the call threshold, set at 100% of the initial level. If called, investors receive the call price, equal to principal plus a call return based on an annual call return rate of 8.05%–9.05%, increasing the longer the Notes remain outstanding, and no further payments are made.

If never called and the final index level is at or above 75% of the initial level, investors receive only their $10 principal per Note. If the final level is below this downside threshold, repayment is reduced dollar-for-dollar with the index decline, and the entire investment can be lost. The Notes pay no interest or dividends, are not listed on any exchange, have an initial estimated value of $9.25–$9.55 per $10, and all payments depend on BNS’s creditworthiness.

The Bank of Nova Scotia is offering complex market-linked senior unsecured notes tied to the lowest performing of Broadcom, Alphabet Class A, Meta Platforms and NVIDIA, maturing in January 2029. Each $1,000 security may pay a monthly contingent coupon at a rate of at least 19.35% per annum, but only if on each calculation day the lowest performing stock closes at or above 60% of its starting price. Missed coupons can be paid later if the condition is met, but all coupons can be lost if it is never met.

The notes are auto-callable from April 2026 through December 2028 if the lowest performing stock is at or above its starting price, in which case holders receive $1,000 plus the applicable coupon and any unpaid coupons. If not called, principal is protected only if the lowest performing stock on the final calculation day is at or above 60% of its starting price; otherwise repayment falls in line with that stock’s percentage decline, with losses beyond 40% and up to total loss of principal possible. The bank’s estimated value is $911.33–$941.33 per $1,000 security, reflecting dealer spread and hedging costs, and the notes are not listed and carry full credit risk of The Bank of Nova Scotia.

The Bank of Nova Scotia is offering principal-at-risk Contingent Income Auto-Callable Securities linked to the common stock of Tesla, Inc., maturing on or about January 26, 2029. Each security has a stated principal amount of $1,000 and offers a contingent quarterly coupon of $35.125 per security (equivalent to 14.05% per annum) for any determination date on which Tesla’s closing price is at least 50.00% of the initial share price, the downside threshold.

If on any non-final determination date Tesla’s closing price is at least 100.00% of the initial share price, the notes are automatically redeemed for $1,000 plus the applicable coupon and any unpaid coupons under the memory feature, and no further payments are made. If the notes are not called and Tesla’s final share price is below the downside threshold, the maturity payment is $1,000 multiplied by the share performance factor, so investors can lose a significant portion or all of their principal.

The notes are senior unsecured debt of BNS, subject to BNS’s credit risk, and are not secured, insured, bail-inable, or listed on any exchange. The estimated value on the pricing date is expected to be between $937.65 and $967.65 per $1,000 of principal, reflecting embedded selling, structuring and hedging costs. The securities are intended only for investors who fully understand the risks, can tolerate high volatility and illiquidity, and are willing to forgo dividends and upside in Tesla shares in exchange for the possibility of contingent high coupons.

The Bank of Nova Scotia is offering unsubordinated, unsecured Autocallable Digital Buffer Notes linked to the common stock of Capital One Financial Corporation, maturing on January 21, 2028. Each Note has a $1,000 principal amount and a minimum investment of $10,000. The Notes do not pay interest and all payments depend on the Bank’s credit.

The Notes are automatically called on January 29, 2027 if the stock is at or above its Initial Value, paying back principal plus a Call Premium of at least $177.30 per Note (17.73%). If not called and the Final Value on January 18, 2028 is at or above the Initial Value, holders receive principal plus at least a 35.46% Digital Return or the positive stock performance, whichever is greater.

If the Final Value is below the Initial Value but at or above 85% of it, investors receive only the $1,000 principal. Below that 85% Buffer Value, principal is reduced by about 1.1765% for each 1% decline beyond the 15% buffer, leading to a possible total loss of principal. The initial estimated value is between $948.80 and $978.80 per $1,000, less than the issue price, and the Notes will not be listed on any exchange.

The Bank of Nova Scotia is offering autocallable contingent coupon buffer notes linked to the common stock of Vertiv Holdings Co. Each Note has a $1,000 principal amount and a term to February 3, 2027, unless called earlier.

On quarterly Observation Dates, if Vertiv’s closing value is at least the Initial Value, the Notes are automatically called and pay back principal plus a contingent coupon of at least $51.125 per Note and any unpaid coupons. If not called, a contingent coupon (with “memory”) is paid when Vertiv is at or above 65% of the Initial Value.

At maturity, if the Notes are not called and Vertiv is at or above 65% of the Initial Value, investors receive principal plus any due coupons. If Vertiv is below that level, repayment of principal is reduced, with losses of about 1.5385% for each 1% decline beyond the 35% buffer, up to a total loss. The initial estimated value is $950.52–$980.52 per $1,000, and underwriting commissions are 1.00%.

The Bank of Nova Scotia is offering unsecured, unsubordinated structured notes linked to the shares of SPDR® Gold Shares (GLD), maturing on February 3, 2027. Each note has a $1,000 principal amount and a minimum initial investment of $10,000, with no interest or coupon payments before maturity.

At maturity, if GLD’s final value is above its initial value, investors receive the principal plus the positive return of GLD, capped at a Maximum Return of at least 12.27% (exact level set on the trade date. If GLD is flat, investors receive $1,000 per note. If GLD is below its initial value, investors lose 1% of principal for each 1% decline, but the payment will not be less than $950 per note, limiting loss to 5%.

The initial estimated value is expected to be between $955.79 and $985.79 per $1,000 note, below the original issue price, reflecting internal funding and structuring costs. The notes will not be listed, may have limited or no secondary market, and all payments are subject to the credit risk of The Bank of Nova Scotia.

The Bank of Nova Scotia is offering principal-at-risk Trigger Jump Securities linked to the common stock of Oracle Corporation, maturing on or about January 21, 2028. Each security has a stated principal amount and issue price of $1,000 and pays no coupons or dividends.

At maturity, if the final Oracle share price is greater than or equal to the initial share price, investors receive $1,000 plus a fixed upside payment of $713.20 per security (a 71.32% return). If the final share price is below the initial but at or above the trigger level of 90.00% of the initial share price, investors receive only the $1,000 principal. If the final share price is below the trigger level, the payoff is $1,000 plus $1,000 times the underlying return, so losses match Oracle’s decline below the initial price and may reach 100% of principal.

The securities are senior unsecured debt of BNS, not insured or bail-inable, and all payments depend on BNS’s credit. They will not be listed on any exchange, and liquidity is expected to be limited. The estimated value on the pricing date is expected to be between $932.68 and $962.68 per $1,000, reflecting selling, structuring and hedging costs, including a $25.00 per security underwriting discount.

The Bank of Nova Scotia is offering $16,025,300 of Trigger Autocallable Contingent Yield Notes linked to the worst of the Nasdaq-100 and Russell 2000 indices. The notes are $10 each, run for about five years, and pay a 7.85% per annum contingent coupon only if both indices are at or above 70% of their initial levels on quarterly observation dates.

The notes can be automatically called as early as six months after issuance if both indices are at or above their initial levels on an observation date, in which case investors receive principal plus the coupon and the product terminates. If the notes are not called and, at maturity, either index is below 70% of its initial level, repayment of principal is reduced 1-for-1 with the decline of the worst-performing index, up to a total loss of the investment.

The notes are senior unsecured obligations of BNS, are not insured by CDIC or FDIC, and will not be listed on an exchange, so liquidity may be limited. The initial estimated value is $9.45 per $10 note, below the public issue price, reflecting selling, structuring and hedging costs; BNS receives $9.775 per note after a $0.225 underwriting discount.

The Bank of Nova Scotia is offering unsecured Autocallable Contingent Coupon Notes due January 19, 2029, linked to the common stock of Uber Technologies, Inc. These notes can be automatically called on scheduled observation dates if Uber’s closing price is at or above the initial value, returning the $1,000 principal per note plus any due contingent coupon.

If the notes are not called, investors receive a contingent coupon of at least $25.00 per note (at least 10.00% per annum) on each observation date only when Uber’s stock is at or above 60.00% of the initial value. At maturity, if the notes have not been called and Uber’s final value is at or above this 60.00% barrier, principal is repaid; if it is below, repayment is reduced one‑for‑one with Uber’s decline, with up to a 100% loss of principal.

The original issue price is 100% of principal, while the initial estimated value is expected to range from $932.04 to $962.04 per $1,000, reflecting structuring, distribution and hedging costs. The notes are not listed, may have limited or no liquidity, pay no guaranteed interest, and all payments depend on the creditworthiness of The Bank of Nova Scotia.

The Bank of Nova Scotia is issuing $8,098,000 of autocallable contingent coupon buffer notes linked to Alphabet Inc. Class A shares. Each Note has a $1,000 principal amount and matures on January 27, 2027, unless called earlier.

Investors can receive contingent coupons of $39.20 per Note on scheduled dates if Alphabet’s share price on the relevant observation date is at least 85% of the initial value of $328.57, with unpaid coupons potentially paid later under a “memory” feature. The Notes are automatically called if the stock is at or above the initial value on any observation date, returning principal plus due coupons.

If not called and the final stock value is at least 85% of the initial value, investors receive full principal plus any due coupons; if it is lower, principal is reduced by about 1.1765% for each 1% decline beyond the 15% buffer, up to a total loss. The Notes are unsecured, unsubordinated obligations of The Bank of Nova Scotia, are not CDIC or FDIC insured, are not listed on any exchange, and have an initial estimated value of $983.66 per $1,000, below the issue price.

The Bank of Nova Scotia is offering $27,329,000 of autocallable contingent coupon buffer notes linked to the common stock of NVIDIA Corporation, maturing January 27, 2027. The notes are unsubordinated, unsecured debt of the Bank and all payments depend on its creditworthiness.

Investors may receive contingent coupons of $43.00 per $1,000 note on specified dates if NVIDIA’s share price is at or above 75.00% of the $184.86 initial value, with a memory feature for unpaid coupons. The notes are automatically called if NVIDIA’s price on an observation date is at or above the initial value, returning principal plus due coupons, and then terminate.

If not called and NVIDIA’s final value is at least 75.00% of the initial value, investors receive full principal plus any due coupons; below that level, repayment is reduced with a downside leverage factor of about 1.3333, and up to 100% of principal can be lost. The original issue price is 100% of principal, while the initial estimated value is $988.52 per $1,000 note, reflecting selling, structuring and hedging costs, and the notes will not be listed on an exchange.

The Bank of Nova Scotia is offering unsecured autocallable contingent coupon notes linked to Uber Technologies, Inc. common stock. The notes have a minimum denomination of $1,000, a term of about three years, and may be automatically called if Uber’s closing price on any call observation date is at or above its initial value.

If the notes are outstanding and Uber’s closing value on a contingent coupon observation date is at or above 60% of the initial value, investors receive a contingent coupon of at least $25 per $1,000 note (at least 10.00% per year, set on the trade date). If the notes are not called and Uber’s final value is at or above 60% of the initial value, investors receive full principal back, plus any final coupon.

If the notes are not called and Uber’s final value is below the 60% barrier, repayment is reduced one-for-one with Uber’s decline from the initial value and investors can lose up to 100% of principal. The initial estimated value is expected to be between $932.04 and $962.04 per $1,000, below the 100% issue price, reflecting internal funding and hedging costs. The notes are unsecured obligations of The Bank of Nova Scotia, will not be listed, and all payments depend on the bank’s creditworthiness.

The Bank of Nova Scotia is offering $2,982,000 of unsecured Autocallable Contingent Coupon Buffer Notes linked to the common stock of Meta Platforms, Inc., maturing January 27, 2027. Investors receive a contingent coupon of $39.80 per $1,000 note on scheduled dates only if Meta’s closing price is at or above 85% of the initial level of $653.06, with missed coupons potentially paid later under the “memory” feature.

The notes are automatically called if Meta’s price on an observation date is at or above the initial level, returning principal plus due coupons. If the notes are not called and Meta’s final value is at least 85% of the initial value, investors receive full principal back. If the final value falls more than 15% below the initial level, repayment is reduced on a leveraged basis (about 1.1765% loss of principal for each 1% drop beyond the 15% buffer), up to a total loss. The notes are subject to the credit risk of the Bank, are not insured, will not be listed, and have an initial estimated value of $984.68 per $1,000, below the issue price.

The Bank of Nova Scotia is offering senior unsecured market-linked notes that are auto-callable and tied to the worst performer of Dell Class C, Marvell Technology and NVIDIA common stock. Each security has a $1,000 face amount, no interest payments and no listing, and all payments depend on the Bank’s credit.

The notes may 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 50%. If not called, at maturity in January 2029 investors receive: leveraged upside of 425% of any gain in the lowest stock; return of face amount if that stock is between 50% and 100% of its starting price; or full downside exposure if it finishes below 50%, with losses that can reach 100% of principal.

The preliminary estimated value is between $900 and $927.94 per $1,000 security, reflecting selling costs and hedging profits that may weigh on secondary prices. The notes are concentrated in information technology stocks, carry liquidity and reinvestment risks, and involve complex U.S. and Canadian tax considerations.

The Bank of Nova Scotia is offering unsecured Autocallable Contingent Coupon Trigger Notes linked to the common stock of NVIDIA Corporation, expected to mature on February 25, 2027, under its Senior Note Program.

Investors may receive a monthly contingent coupon of $10.292 per $1,000 principal (approximately 1.0292%, or up to about 12.35% per annum) if NVIDIA’s closing price on an observation date is at or above 59.00% of the initial price. The notes can be automatically called starting in July 2026 if NVIDIA’s price on a call observation date is at or above the initial price, in which case investors receive $1,000 plus the applicable coupon and the notes terminate early.

If the notes are not called and the final price on the valuation date is below 59.00% of the initial price, investors receive a predetermined number of NVIDIA shares (or cash equivalent) whose value is less than 59% of principal, resulting in substantial or total loss of invested amount. The initial estimated value is expected to be between $925.00 and $955.00 per $1,000 due to fees, hedging costs and the Bank’s internal funding rate. Payments depend on the creditworthiness of The Bank of Nova Scotia, and the notes will not be listed on any exchange or insured by deposit insurance schemes.

The Bank of Nova Scotia is offering Capped Buffered Enhanced Participation Notes linked to the MSCI EAFE® Index. These unsecured senior notes do not pay interest and mature in about 16–18 months.

At maturity, for each $1,000 note, if the index is above its initial level, holders receive $1,000 plus 160% of the index gain, capped at a maximum payment expected between $1,166.72 and $1,196.00. If the index is flat or down by up to 10%, holders receive $1,000 back. Below a 10% decline, losses accelerate at about 111.11% of further downside and investors can lose their entire principal.

The notes are based on the price return of the MSCI EAFE® Index only, with no dividends, will not be listed on any exchange, and are subject to the credit risk of The Bank of Nova Scotia. The initial estimated value is expected to be between $948.90 and $978.90 per $1,000, less than the original issue price.

The Bank of Nova Scotia is offering Contingent Income Auto-Callable Securities linked to Tesla, Inc. common stock, maturing on January 13, 2028. These senior unsecured notes pay a contingent quarterly coupon of $43.375 per $1,000 (equivalent to 17.35% per annum) for any determination date on which Tesla’s closing price is at least 60.00% of the initial share price, using a “memory” feature to catch up missed coupons when the condition is later satisfied.

The notes can be auto-called if Tesla’s price on any non-final determination date is at or above the call threshold price of $435.80, in which case investors receive principal plus the due coupon(s) and the notes terminate early. At maturity, if Tesla’s final price is at or above the downside threshold of $261.48, investors receive principal plus any due coupons. If it is below that level, repayment is reduced 1-for-1 with Tesla’s decline from the initial share price, and the payoff can be as low as zero.

Investors do not participate in any upside beyond coupons, forgo Tesla dividends, face full principal risk, and are exposed to the credit risk of BNS. The securities are not listed, and the estimated value on the pricing date is expected to be between $941.67 and $971.67 per $1,000.

The Bank of Nova Scotia is offering autocallable contingent coupon trigger notes linked to the common stock of GE Vernova Inc. These unsecured senior notes pay a monthly contingent coupon of $12.959 per $1,000 (about 1.2959% per month, or approximately 15.55% per year) only when GE Vernova’s share price on an observation date is at or above 55% of the initial price.

Starting in July 2026, the notes are automatically called if the stock closes at or above the initial price on a call observation date, returning $1,000 per note plus that month’s coupon, with no further payments. If not called, and on the final valuation date the stock is at or above 55% of the initial price, holders receive full principal plus the final coupon. If the stock finishes below 55%, principal is reduced one-for-one with the stock’s decline, up to a total loss, and no final coupon is paid.

The notes are not principal protected, will not be listed on an exchange, and all payments depend on the creditworthiness of The Bank of Nova Scotia. The initial estimated value per $1,000 is expected to be between $925 and $955, reflecting embedded fees and hedging costs.