Bank of Nova Scotia 424B Filings

The Bank of Nova Scotia is offering contingent income auto-callable securities linked to the common stock of NVIDIA Corporation, maturing on or about January 22, 2027. Each security has a stated principal amount and issue price of $1,000 and is a senior unsecured note under BNS’ Senior Note Program, Series A.

Holders can receive a contingent quarterly coupon of $32.90 per security (equivalent to 13.16% per annum) on each determination date where NVIDIA’s closing price is at or above 60% of the initial share price, with a “memory” feature that can pay previously missed coupons if a later observation meets the threshold. If NVIDIA’s price on any non-final determination date is at or above 100% of the initial share price, the notes are auto-called and pay principal plus due coupons; no further amounts are paid afterward.

If the notes are not called and NVIDIA’s final share price is below 60% of the initial share price, repayment at maturity is reduced 1‑for‑1 with the stock’s decline and can be less than 60% of principal or zero, so investors can lose their entire investment. Investors do not receive NVIDIA dividends, do not participate in stock upside, and all payments are subject to BNS’ credit risk. The notes will not be listed, and the estimated value on the pricing date is expected to be $946.52–$976.52 per $1,000, below the issue price.

The Bank of Nova Scotia is offering Contingent Income Auto-Callable Securities due around January 19, 2029, linked to the common stock of NVIDIA Corporation. Each security has a $1,000 stated principal amount and pays a contingent quarterly coupon of $27.75 per security (equivalent to 11.10% per annum) for any determination date on which NVIDIA’s closing price is at least 50.00% of the initial share price, helped by a "memory" feature that can catch up missed coupons.

The notes are auto-callable: if NVIDIA closes at or above 100.00% of the initial share price on any non-final determination date, investors receive their principal plus the applicable coupon (and any unpaid coupons), and the securities terminate early. At maturity, if the final NVIDIA price is at least 50.00% of the initial price, investors receive principal plus the due coupon(s). If it is below 50.00%, repayment is reduced 1-to-1 with NVIDIA’s decline, potentially to $0, so principal is at risk.

The securities are senior unsecured debt of BNS, subject to BNS credit risk, not insured, not bail‑inable under the CDIC Act, and will not be listed on any exchange. The estimated value on the pricing date is expected between $936.47 and $966.47 per $1,000, below the issue price, reflecting selling, structuring and hedging costs and BNS’ internal funding rate.

The Bank of Nova Scotia is offering senior unsecured Contingent Income Auto-Callable Securities linked to Eli Lilly common stock, maturing around January 19, 2029. Each security has a $1,000 stated principal amount and pays a $25.50 quarterly contingent coupon (equivalent to 10.20% per annum) only when Eli Lilly’s closing price on a determination date is at least 65.00% of the initial share price.

If on any non-final determination date the stock is at or above the 100.00% call threshold, the notes are automatically redeemed for principal plus the due coupon and any unpaid coupons under the memory feature. If held to maturity and the final share price is below the 65.00% downside threshold, repayment is reduced 1-to-1 with the stock’s decline and can fall to zero, so investors risk losing their entire investment. Payments depend on BNS’s credit, the securities will not be listed, and the initial estimated value is expected to be between $938.40 and $968.40 per $1,000.

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 19, 2029. Each $1,000 security pays a contingent quarterly coupon of $36.475 (equivalent to 14.59% per annum) for any determination date on which Tesla’s closing price is at least 50% of the initial share price, with a “memory” feature that can pay previously missed coupons later.

The notes are automatically called if Tesla’s closing price on any non-final determination date is at least 100% of the initial share price, returning $1,000 plus the applicable coupon and any unpaid coupons. If held to maturity and Tesla is at or above the 50% downside threshold, investors receive $1,000 plus due coupons; if below, repayment is reduced 1-to-1 with Tesla’s decline and can be zero.

The securities are senior unsecured obligations of BNS, fully exposed to its credit risk, not listed on an exchange, and have an estimated value on the pricing date between $937.30 and $967.30 per $1,000 issue price.

The Bank of Nova Scotia is offering unsecured Digital Notes linked to the S&P 500® Index. Each note has a $1,000 principal amount, a term of about 26–29 months, and pays no interest. At maturity, if the S&P 500® final level is at or above 85.00% of its initial level, investors receive a fixed maximum payment, expected to be between $1,150.50 and $1,177.00 per $1,000.

If the index has fallen by more than 15.00%, the payoff is reduced using a buffer rate of approximately 117.65%, and investors can lose up to 100% of principal. The payoff depends only on the index level on the valuation date; there are no interim payments or dividends.

The notes are senior unsecured obligations of The Bank of Nova Scotia, are not insured by Canadian or U.S. deposit insurers, will not be listed on any exchange, and carry both market risk tied to the S&P 500® and the Bank’s credit risk. The initial estimated value is expected to be $957.30–$987.30 per $1,000, below the issue price.

The Bank of Nova Scotia is offering autocallable fixed coupon trigger notes linked to the common stock of Oracle Corporation, maturing on or about February 19, 2027. The notes pay a fixed coupon of $9.917 per $1,000 each month (0.9917% monthly, up to about 11.90% per year) until they are called or mature.

The notes are automatically called, and pay back $1,000 plus the coupon, if on any call observation date starting in July 2026 Oracle’s share price is at or above the initial price. If not called, principal repayment at maturity depends on Oracle’s final share price. If the final price is at least 56.00% of the initial price, investors receive $1,000 in cash per note, plus the last coupon. If it is below 56.00%, investors receive shares (or cash equivalent) worth less than 56% of principal and can lose most or all of their investment.

The initial estimated value is expected to be $925–$955 per $1,000, below issue price, reflecting internal funding, fees and hedging. The notes are unsecured, unsubordinated obligations of The Bank of Nova Scotia, not listed on any exchange, and all payments depend on the Bank’s creditworthiness.

The Bank of Nova Scotia is offering Autocallable Contingent Coupon Buffered Notes linked to the common stock of Constellation Energy Corporation. The notes are unsecured, unsubordinated obligations with a maturity expected on February 25, 2027, unless automatically called between July 2026 and January 2027 if the stock closes at or above the initial price on a call observation date.

Investors may receive a monthly contingent coupon of $8.542 per $1,000 (0.8542% monthly, about 10.25% per year) only when the stock closes at or above 75.00% of the initial price on the relevant observation date. If the notes are not called and the final stock price is at least 75.00% of the initial price, investors get back $1,000 per note plus the final coupon. If the final price is below 75.00%, repayment is reduced dollar-for-dollar beyond a 25.00% buffer, with the potential loss of up to 75.00% of principal and no coupon.

The initial estimated value is expected between $925.00 and $955.00 per $1,000, reflecting internal funding rates, commissions, structuring fees and hedging costs. The notes will not be listed on any exchange, are not insured by CDIC or FDIC, and all payments depend on the creditworthiness of The Bank of Nova Scotia.

The Bank of Nova Scotia is offering preliminary Trigger Autocallable Contingent Yield Notes linked to the least performing of the Nasdaq-100 Index and the Russell 2000 Index, maturing around January 14, 2031. Each Note has a $10 principal amount, with a minimum investment of 100 Notes ($1,000). Investors may receive quarterly contingent coupons at a rate between 7.50% and 8.02% per annum, but only if both indices are at or above their coupon barriers, set at 70% of the initial level for each index.

The Notes are automatically called if, on any quarterly observation date after six months, both indices are at or above their initial levels, in which case investors receive principal plus the applicable coupon and no further payments. If the Notes are not called and, at maturity, both indices are at or above their downside thresholds (also 70% of initial levels), investors receive full principal back. If any index finishes below its downside threshold, repayment is reduced based on the decline in the worst-performing index, and investors could lose their entire investment. The initial estimated value is expected to be $9.12 to $9.42 per $10 Note, and the Notes will not be listed on any exchange.

The Bank of Nova Scotia is offering Capped Buffered Enhanced Participation Notes linked to the S&P 500® Index. These unsecured senior notes pay no interest and have an expected term of about 27 to 30 months. At maturity, for each $1,000 note, investors receive either principal plus leveraged upside, principal only, or a reduced amount, based on index performance.

If the index ends above its initial level, the payoff is 160.00% of the index gain, capped by a maximum payment amount expected to be between $1,226.40 and $1,266.24 per $1,000. If the index falls by up to 15.00%, principal is returned. Below that buffer, losses accelerate at a buffer rate of about 117.65%, and investors can lose up to their entire investment.

The initial estimated value is expected to be $957.50–$987.50 per $1,000, reflecting internal funding and hedging costs. The notes will not be listed on an exchange, and any payment depends on the creditworthiness of The Bank of Nova Scotia.

The Bank of Nova Scotia is offering Trigger Autocallable GEARS, which are senior unsecured notes linked to the Nikkei 225 Index, at $10 per Security with a minimum investment of $1,000 and a term of about five years.

The notes may be automatically called in January 2027 if the index closes at or above its initial level, paying a 16.00% call return (total payment of $11.60 per Security) and then terminating. If not called, at maturity in January 2031 holders receive geared upside (underlying return multiplied by upside gearing of 1.60–1.80) for positive index performance, full principal back if the index is flat or moderately down but at or above 75% of the initial level, or a loss matching the index decline if it finishes below that downside threshold.

The Securities pay no interest, are not listed on any exchange, and carry full downside market exposure below the threshold as well as BNS credit risk. The preliminary estimated value is expected between $9.19 and $9.49 per $10 principal, reflecting structuring, distribution and hedging costs. Extensive risk, liquidity and tax disclosures emphasize that buyers could lose some or all of their investment.

The Bank of Nova Scotia is offering Trigger Autocallable GEARS, which are senior unsecured notes linked to the Russell 2000 Index, maturing around January 21, 2031. Each Security has a $10 principal amount, with a minimum investment of $1,000. The notes may be automatically called on January 25, 2027 if the index closes at or above its initial level; in that case investors receive a call price of $11.10 per Security, reflecting an 11.00% call return, and the investment ends early.

If not called and the index is above its initial level at final valuation, investors receive the $10 principal plus the index gain multiplied by an upside gearing set in the range of 1.37–1.57. If the index is flat or down but at or above a downside threshold of 75% of the initial level, investors receive only their $10 principal. If the index ends below the downside threshold, repayment is reduced one-for-one with the index loss, and investors can lose up to their entire investment. The notes pay no interest, are not listed, and any payments depend entirely on the creditworthiness of BNS. The initial estimated value is expected to be between $9.34 and $9.64 per $10 Security, below the issue price, reflecting structuring, distribution, and hedging costs.

The Bank of Nova Scotia is offering Trigger Autocallable GEARS, senior unsecured notes linked to an unequally weighted basket of five equity indices: EURO STOXX 50® (40%), Nikkei 225 (25%), FTSE® 100 (17.5%), Swiss Market Index (10%) and S&P/ASX 200 (7.5%). The initial basket level will be set to 100 on the trade date, with an autocall barrier at 100% and a downside threshold at 75% of that level.

The notes may be automatically called after about one year if the basket is at or above the barrier, paying a call price of $11.30 per $10 note, a 13.00% return. If not called and the basket rises, investors receive geared upside at 1.42–1.62 times the basket return. If the basket is flat or down but at or above the 75% downside threshold at maturity, principal is returned; below that level, losses match the negative basket return and can reach 100% of principal.

The securities pay no interest, will not be listed on an exchange and expose investors to both market risk in the non-U.S. indices and the credit risk of BNS. The initial estimated value is expected between $9.20 and $9.50 per $10 issue price, reflecting structuring, hedging and distribution costs.

The Bank of Nova Scotia is offering senior unsecured market-linked securities tied to the worst performer among Broadcom, Meta Platforms, Shopify and Tesla, maturing in January 2029. These notes can be automatically called monthly from July 2026 to December 2028 if the lowest-performing stock is at or above its starting price, returning the $1,000 face amount plus a final contingent coupon and any unpaid coupons.

Investors may receive monthly contingent coupons at a rate of at least 16.25% per annum, but only when the lowest-performing stock on a calculation day is at or above 40% of its starting price. If the notes are not called and that stock finishes below 40% of its starting price on the final calculation day, investors lose more than 60%, and possibly all, of principal. The bank’s estimated value is $906.25–$936.25 per $1,000, and the securities will not be listed on any exchange.

The Bank of Nova Scotia is offering unsecured Autocallable Contingent Coupon Buffer Notes linked to Alphabet Inc. Class A common stock. Each Note has a $1,000 principal and a term to January 27, 2027, unless automatically called earlier.

The Notes may pay a contingent coupon of at least $39.20 per Note on scheduled dates if Alphabet’s closing value on the related observation date is at or above 85% of the initial value, with unpaid coupons "remembered" and added when conditions are later met. If Alphabet’s value on any observation date before maturity is at or above the initial value, the Notes are automatically called and repay principal plus applicable coupons.

If not called, you receive full principal at maturity only if the final Alphabet value is at or above 85% of the initial value. Below that buffer, repayment is reduced by about 1.1765% for each 1% decline beyond the 15% buffer, and you could lose up to all principal. The initial estimated value is $954.74–$984.74 per $1,000, below the issue price, and secondary market liquidity is not assured.

The Bank of Nova Scotia is offering unsecured Autocallable Contingent Coupon Notes due February 1, 2029, linked to the common stock of NIKE, Inc. Investors lend money to the bank and receive cash payments that depend on how NIKE’s share price performs.

The Notes may be automatically called on scheduled observation dates if NIKE’s closing value is at or above the initial level, returning the $1,000 principal per Note plus any due contingent coupon. If not called, investors receive a contingent coupon of at least $30 per Note per period (at least 12.00% per annum) only when NIKE’s closing value is at or above 70% of the initial value. Coupons are not guaranteed and may never be paid.

At maturity, if the Notes were not called and NIKE is at or above the 70% barrier, investors get back principal (and any coupon due). If NIKE finishes below the barrier, repayment is reduced one-for-one with the stock’s loss, up to a total loss of principal. The initial estimated value is $930.27–$960.27 per $1,000, reflecting internal funding and hedging costs. The Notes are not insured, carry the bank’s credit risk, and will not be listed on an exchange.

The Bank of Nova Scotia is offering unsecured Autocallable Contingent Coupon Notes linked to the common stock of Coinbase Global, Inc. The notes run to February 1, 2029, unless automatically called earlier if Coinbase’s closing price on any call observation date is at or above its initial value, in which case investors receive their $1,000 principal per note plus the applicable contingent coupon.

If the notes are outstanding and Coinbase’s price on a coupon observation date is at or above 60% of the initial value, investors receive a contingent coupon of at least $55 per note (at least 22.00% per annum); no coupon is paid if the stock closes below that barrier. At maturity, if not called, investors receive full principal back only if the final stock value is at or above 60% of the initial value; otherwise the loss matches the stock’s decline and up to 100% of principal can be lost. The initial estimated value is between $925.76 and $955.76 per $1,000, the notes will not be listed, and all payments depend on the creditworthiness of The Bank of Nova Scotia.

The Bank of Nova Scotia is offering unsecured, unsubordinated structured notes linked to the common stock of NVIDIA Corporation. The notes pay a contingent coupon of at least $43.00 per $1,000 note on quarterly observation dates, but only if NVIDIA’s closing value is at or above 75% of its initial level; missed coupons can accumulate as “memory” and may be paid later if a future barrier is met.

The notes are automatically called before maturity if NVIDIA’s closing value on any non-final observation date is at or above its initial level, returning the $1,000 principal plus the due coupon and any unpaid coupons. If not called, principal repayment at maturity depends on NVIDIA’s final value. Full principal is repaid if the final value is at least 75% of the initial value. If it falls more than 25% below the initial value, repayment is reduced on a leveraged basis by about 1.3333% of principal for each additional 1% decline, up to a total loss of the $1,000 principal.

The notes have a minimum investment of $10,000, a scheduled term of about 54 weeks, and will not be listed on an exchange. Payments depend entirely on the creditworthiness of The Bank of Nova Scotia, and the initial estimated value per $1,000 is expected to be between $953.56 and $983.56, below the original issue price.

The Bank of Nova Scotia is offering unsecured, unsubordinated Autocallable Contingent Coupon Buffer Notes with Memory Coupon linked to the common stock of Meta Platforms, Inc., maturing on January 27, 2027. Each Note has a $1,000 principal amount and an Original Issue Price of 100%.

The Notes may be automatically called if Meta’s closing value on an Observation Date is at or above the Initial Value, in which case investors receive $1,000 plus any due and unpaid contingent coupons, and no further payments. If not called, a contingent coupon of at least $39.80 per Note is paid on scheduled dates only when Meta’s closing value is at or above 85.00% of the Initial Value; coupons are not guaranteed.

At maturity, if the Notes are not called and Meta’s final value is at or above 85.00% of the Initial Value, investors receive full principal back plus any due contingent coupons. If the final value falls below this buffer level, repayment is reduced so that investors lose approximately 1.1765% of principal for each 1% decline of Meta beyond the 15.00% buffer, and they may lose up to 100% of principal. The initial estimated value is expected between $955.51 and $985.51 per $1,000 Note, 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 Oracle Corporation. Each Note has a $1,000 principal amount, an expected trade date of January 30, 2026, and matures on February 1, 2029, unless called earlier.

The Notes pay a contingent coupon of at least $53.75 per Note (at least 21.50% per annum) on scheduled observation dates only if Oracle’s closing price is at or above a barrier set at 70.00% of the Initial Value. The Notes are automatically called if Oracle’s price on any call observation date is at or above the Initial Value, returning principal plus that period’s coupon.

If the Notes are not called and Oracle’s final value is below the 70.00% barrier, investors lose 1% of principal for each 1% decline from the Initial Value, up to a 100% loss of principal. The initial estimated value is expected to be $927.60–$957.60 per $1,000, below the issue price, 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 issuing $13,510,000 of Contingent Income Auto-Callable Securities linked to the common stock of Palantir Technologies Inc. The notes pay a $44.00 quarterly contingent coupon per $1,000 (equivalent to 17.60% per annum) only if Palantir’s closing price on a determination date is at or above the downside threshold of $83.93, which is 50% of the $167.86 initial share price. Missed coupons can be paid later under a “memory” feature if a future observation is above the threshold.

The notes are auto-callable: if Palantir closes at or above the call threshold of $167.86 on any non-final determination date, investors receive the $1,000 principal plus the due coupon and any unpaid coupons, and the notes terminate. If held to maturity and the final share price is below the downside threshold, investors are exposed one-for-one to Palantir’s decline and may receive less than 50% of principal, down to zero. Payments are subject to the senior unsecured credit risk of BNS, and the notes will not be listed, with limited expected liquidity and an initial estimated value of $972.40 per $1,000.

The Bank of Nova Scotia is offering $7,678,000 of senior unsecured Contingent Income Auto-Callable Securities due January 5, 2029, linked to the common stock of Shopify Inc. Each $1,000 security can pay a contingent quarterly coupon of $34.50 (13.80% per annum) if Shopify’s closing price on a determination date is at or above $78.60, which is 50.00% of the $157.20 initial share price, with a memory feature for previously missed coupons. The notes are automatically redeemed if Shopify’s price on any non-final determination date is at or above the $157.20 call threshold, paying principal plus the due coupon and any unpaid coupons. If held to maturity and Shopify’s final price is below the $78.60 downside threshold, repayment is reduced 1-to-1 with the stock’s decline and can fall to zero, so principal is fully at risk and investors do not participate in any stock appreciation. The securities are unsecured obligations of BNS, are not listed, have an estimated initial value of $970.50 per $1,000, and embed $22.50 per security in sales commission and structuring fees.

The Bank of Nova Scotia is offering unsecured Autocallable Contingent Coupon Trigger Notes linked to the common stock of NVIDIA Corporation, maturing in July 2027. The notes pay a contingent coupon of $9.25 per $1,000 (0.925% monthly, up to 11.10% per year) only if NVIDIA’s closing price on an observation date is at or above 53.00% of the initial price.

The notes may be automatically called monthly starting July 2026 if NVIDIA’s price is at or above the initial price; in that case, investors receive $1,000 per note plus the applicable coupon and the notes terminate. If the notes are not called and the final price is at least 53.00% of the initial price, investors receive $1,000 per note plus the final coupon.

If the final price is below 53.00% of the initial price, investors receive NVIDIA shares (or cash) equal to $1,000 divided by the initial price, whose value will be less than 53.00% of principal, resulting in substantial or total loss. The initial estimated value is between $900 and $930 per $1,000, reflecting fees, hedging costs and the bank’s internal funding rate.

The Bank of Nova Scotia is offering unsecured Capped Buffered Return Notes linked to the price return of the S&P 500® Index, maturing on January 30, 2031. Each Note has a $1,000 principal amount and a minimum investment of $1,000 in $1,000 increments.

At maturity, if the index has risen, investors receive $1,000 plus the index gain, but the return is capped at a Maximum Return of at least 56.15%. If the index is flat or down but not below the Buffer Value set at 85% of the Initial Value, investors receive their $1,000 principal back. If the index falls below the Buffer Value, investors lose 1% of principal for each 1% decline beyond the 15% buffer and may lose up to 85% of principal.

The Notes pay no interest, are not insured by CDIC or FDIC, and all payments depend on the creditworthiness of the Bank. The initial estimated value is expected to be $908.02–$938.02 per $1,000, below the issue price, and there is no exchange listing, so secondary market liquidity may be limited.

The Bank of Nova Scotia is offering autocallable contingent coupon trigger notes linked to the common stock of GE Vernova Inc., maturing on an expected date of July 21, 2027. The notes pay a contingent coupon of $11.209 per $1,000 (1.1209% monthly, up to about 13.45% per year) on each monthly coupon date if GE Vernova’s closing price on the related observation date is at least 50.00% of the initial price.

Starting in October 2026, the notes are automatically called if on a call observation date the stock closes at or above the initial price; in that case, investors receive $1,000 per note plus the applicable contingent coupon, and no further payments. If the notes are not called and the final price on the July 16, 2027 valuation date is at least 50.00% of the initial price, investors receive $1,000 plus the final contingent coupon.

If the notes are not called and the final price is below 50.00% of the initial price, the maturity payment is $1,000 plus $1,000 multiplied by the reference asset return, so investors lose 1% of principal for each 1% the stock has fallen from the initial price and can lose their entire investment. The notes are unsecured, unsubordinated obligations of The Bank of Nova Scotia, not insured by the CDIC or FDIC. The initial estimated value is expected to be between $900.00 and $930.00 per $1,000 principal amount, less than the 100% original issue price, reflecting internal funding and structuring costs.

The Bank of Nova Scotia is offering unsecured Autocallable Contingent Coupon Trigger Notes linked to the common stock of Microsoft Corporation, maturing on or about February 19, 2027. For each $1,000 note, investors may receive a contingent monthly coupon of $7.459 (0.7459% per month, up to about 8.95% per year) only when Microsoft’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 Microsoft’s share 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. If the notes are not called and on the final valuation date Microsoft’s price is at or above 70% of the initial price, investors receive $1,000 plus the final coupon. If the final price is below 70% of the initial price, repayment is reduced one‑for‑one with Microsoft’s decline, and investors can lose up to 100% of principal with no coupon.

The initial estimated value of the notes is expected to be $900–$930 per $1,000, reflecting internal funding and structuring costs, while underwriting commissions are up to 0.65%. The notes are unsecured, unsubordinated obligations of The Bank of Nova Scotia, will not be listed on any exchange, and all payments depend on the Bank’s creditworthiness.

The Bank of Nova Scotia is offering senior unsecured structured notes linked to the common stock of Amazon.com, Inc. The Contingent Income Auto-Callable Securities have a stated principal amount of $1,000 per note, a scheduled maturity on or about January 12, 2029, and pay contingent quarterly coupons of $25.50 per note (equivalent to 10.20% per annum) only when Amazon’s closing price on a determination date is at least 70% of the initial share price, the downside threshold.

If on any non-final determination date Amazon’s price is at or above 100% of the initial share price (the call threshold), the notes are automatically redeemed for principal plus the due coupon and any unpaid coupons under a “memory” feature, and no further payments are made. If held to maturity and Amazon’s final share price is at or above the downside threshold, investors receive principal plus the final and any unpaid coupons. If the final share price is below the downside threshold, repayment is reduced 1-for-1 with Amazon’s decline, and the payment can be zero.

Investors do not participate in any upside of Amazon stock, forgo dividends, face full principal risk, and are exposed to the credit risk of BNS. The estimated value on the pricing date is expected to be $939.82–$969.82 per $1,000, lower than the issue price due to selling, structuring and hedging costs.

The Bank of Nova Scotia is issuing $2,924,000 of senior unsecured Autocallable Contingent Coupon Buffer Notes with a memory coupon linked to the common stock of Meta Platforms, Inc. Each Note has a $1,000 principal amount and a term to January 21, 2027, unless called earlier.

The Notes pay a contingent coupon of $39.80 per $1,000 only on Observation Dates when Meta’s closing value is at least 85% of the initial value; missed coupons can be recovered later if conditions are met, but no interest is guaranteed. The Notes are automatically called, returning principal plus due coupons, if Meta’s price on an Observation Date is at or above the initial value.

If not called and Meta’s final value is at least 85% of the initial value, investors receive full principal back plus any due coupons. If the final value falls below 85% of the initial value, repayment is reduced on a leveraged basis (about 1.1765% loss for each 1% decline beyond the 15% buffer), potentially up to a total loss of principal. The Notes are not insured, depend on the credit of the Bank, will not be listed on an exchange, and had an initial estimated value of $985.02 per $1,000, below the issue price.

The Bank of Nova Scotia is offering $12,000,000 in senior unsecured structured notes linked to the common stock of Amazon.com, Inc. Investors can receive a contingent monthly coupon of $11.50 per $1,000 note (equivalent to 13.80% per year) for each month the Amazon share price is at or above 80% of the $232.07 initial share price, helped by a “memory” feature that can make up missed coupons later.

The notes are auto-callable: if Amazon closes at or above 100% of the initial share price on any non-final determination date, investors receive $1,000 plus the applicable coupon and any unpaid coupons, and the notes terminate early. If held to maturity and Amazon is at or above 80% of the initial level, investors receive $1,000 plus due coupons.

If at maturity Amazon is below 80% of the initial price, repayment is reduced by 1.25% of principal for every 1% decline below that buffer, down to a possible total loss. The securities are not principal-protected, are not listed, carry BNS credit risk, and have an estimated value of $995.05 per $1,000 issue price, reflecting embedded fees and funding costs.

The Bank of Nova Scotia is offering $4,527,000 of Auto-Callable Trigger PLUS, principal-at-risk notes linked to the Nasdaq-100 Index®, maturing on January 4, 2029. Each security has a $1,000 stated principal amount and pays no interest or dividends.

The notes can be automatically redeemed on January 12, 2027 for $1,096.90 per security if the index on the January 7, 2027 determination date is at or above the initial index value of 25,462.56. If not called, at maturity investors receive $1,000 plus 150% of any index gain. If the final index value is at or below the initial level but at or above the trigger level of 20,370.048 (80% of the initial value), they receive $1,000.

If the final index value falls below the trigger level, investors lose 1% of principal for each 1% index decline and could lose their entire investment. The estimated value on the pricing date is $967.70 per $1,000, the notes will not be listed on any exchange, and all payments depend on the credit of BNS.

The Bank of Nova Scotia is offering $32,652,000 of Contingent Income Auto-Callable Securities due January 5, 2029, linked to the common stock of Tesla, Inc. The notes are principal-at-risk senior unsecured debt under BNS’ Senior Note Program, Series A.

Investors may receive a $45.00 contingent quarterly coupon per $1,000 note (equivalent to 18.00% per annum) for each determination date on which Tesla’s closing price is at least 60.00% of the initial share price of $454.43, a downside threshold of $272.658. If on any non-final determination date Tesla closes at or above 100.00% of the initial price, the notes are automatically redeemed at par plus the applicable coupon and any unpaid coupons under the “memory” feature.

If the notes are not called and the final share price is at or above the downside threshold, investors receive principal plus the due coupon(s). If the final share price is below the downside threshold, the maturity payment equals the stated principal amount multiplied by the share performance factor, and can be less than 60.00% of principal or zero, meaning a significant or total loss is possible. The notes are not listed, have limited liquidity, carry BNS credit risk, and have an estimated value on the pricing date of $974.40 per $1,000 issue price.

The Bank of Nova Scotia is offering senior unsecured market-linked notes tied to the common stock of Oklo Inc., with stated maturity on January 5, 2029. Each security has a $1,000 face amount and pays a 28.40% per annum contingent coupon, but only for quarters when Oklo’s stock closes at or above the coupon threshold, set at 50% of the $71.62 starting price (that is $35.81). Missed coupons can be paid later under the memory feature if the threshold is met on a future calculation day.

The notes are auto-callable quarterly from March 2026 through September 2028 if Oklo’s stock closes at or above the $71.62 starting price, in which case investors receive $1,000 plus the applicable coupon and any unpaid coupons. If not called, principal is protected only if the final stock price is at or above the downside threshold of $35.81; below that level, investors are fully exposed to the decline and can lose more than 50%, up to their entire principal. The Bank’s estimated value is $930.91 per $1,000 security, and total original offering proceeds are $6,272,688.50 before hedging profits.

The Bank of Nova Scotia is offering senior unsecured market-linked notes tied to the common stock of Tesla, Inc., maturing on December 30, 2026. Each security has a $1,000 face amount, pays a fixed coupon at 15.25% per annum in monthly installments, and may be automatically called if Tesla’s stock closes on any monthly calculation day from June to November 2026 at or above the starting price of $454.43. If called, investors receive the face amount plus the final coupon.

If the notes are not called, the maturity payout depends entirely on Tesla’s stock price on the final calculation day. Investors receive $1,000 per security only if the ending price is at or above the downside threshold of $272.658 (60% of the starting price). Below that level, repayment is reduced in proportion to the stock’s decline, so investors can lose more than 40%, up to all, of their principal. Investors do not participate in any stock upside and receive no dividends.

The original offering price is $1,000 per security, with an estimated value of about $978.66, reflecting selling commissions, structuring and hedging costs. The notes are not insured, are subject to the Bank’s credit risk, will not be listed on an exchange, and may have limited or no secondary market liquidity.

The Bank of Nova Scotia is offering senior unsecured market-linked notes tied to the common stock of Oracle Corporation. Each security has a $1,000 face amount, pays a 14.80% per annum contingent coupon quarterly only when Oracle’s stock closes at or above 50% of the starting price, and may automatically call from March 2026 through September 2028 if the stock is at or above the starting price. If not called, investors receive $1,000 at maturity only if the final stock price is at or above 50% of the starting price; otherwise they lose more than 50%, up to all, of principal. The total offering is $12,426,000, with proceeds to the Bank of about $12.14 million after selling discounts, and the Bank’s estimated value is $981.01 per $1,000. The notes are not listed on an exchange, pay no dividends on Oracle stock, and all payments are subject to the Bank’s credit risk.

The Bank of Nova Scotia is offering senior unsecured Market Linked Securities tied to the lowest performer of the S&P 500® Index, Russell 2000® Index and Dow Jones Industrial Average®, maturing on January 4, 2030. Each security has a $1,000 face amount and is sold at an original offering price of $1,000, with total offering size of $3,924,000 and proceeds to the Bank of $3,209,179.50 after selling costs.

The notes pay no interest and may be automatically called on quarterly call dates if the lowest performing index is at or above its starting level, returning $1,000 plus a fixed call premium that grows over time, reaching up to 44.8% of face value on the final calculation day. If never called and the lowest index ends at or above 75% of its starting level at maturity, investors receive $1,000; if it finishes below 75%, repayment is reduced 1-to-1 with index losses, so investors can lose more than 25%, up to their entire principal.

The estimated value at pricing is $963.86 (96.386%) per security, below the issue price due to selling, structuring and hedging costs. The securities are senior unsecured obligations of the Bank, not insured by any deposit insurer, will not be listed on an exchange, and may be difficult to sell before maturity.

The Bank of Nova Scotia is offering market-linked, senior unsecured notes tied to the lowest performing of the S&P 500 Index, Russell 2000 Index and Nasdaq-100 Index, maturing on January 5, 2029.

Each security has a $1,000 face amount and pays no interest. About one year after issuance, on January 5, 2027, the notes are automatically called if the lowest performing index is at or above its starting level, returning $1,000 plus a 12% call premium.

If not called, at maturity investors receive: at least $1,450 per security (a 45% contingent minimum return) or full 1:1 upside if the lowest index finishes at or above its starting level; only $1,000 if the lowest index is between 70% and 100% of its starting level; or a loss matching the index decline if it ends below 70% of its starting level, which can mean losing most or all principal. The bank’s estimated value is $952.08 per $1,000, and all payments are subject to Scotiabank’s credit risk, with no listing or liquidity guarantee.

The Bank of Nova Scotia is issuing $1,000 face amount senior unsecured market-linked securities tied to the lowest performing of Amazon, Alphabet Class A, NVIDIA and Tesla, maturing on January 3, 2029. These notes pay a contingent coupon of 14.75% per annum, due monthly only if on each calculation day the lowest-performing stock is at or above 40% of its starting price, with a memory feature that can make up missed coupons later.

From June 2026 to November 2028, if on any monthly calculation day the lowest-performing stock closes at or above its starting price, the notes are automatically called for $1,000 plus the due coupon and any unpaid coupons. If not called, at maturity holders receive $1,000 only if the lowest-performing stock is at or above 40% of its starting price; otherwise repayment is reduced in proportion to that stock’s decline, and investors can lose more than 60% and up to all principal.

The original offering price is $1,000 per security, while the Bank’s estimated value on the pricing date is $950.52, reflecting selling costs and hedging profits. The notes are senior unsecured obligations of The Bank of Nova Scotia, not insured, not listed on an exchange, and all payments depend on the Bank’s credit and on the performance of the underlying stocks.

The Bank of Nova Scotia is offering $9,080,000 of Capped Buffered Enhanced Participation Notes linked to the S&P 500 Index, maturing on October 27, 2027. These unsecured notes pay no interest and the return is determined solely by index performance between December 30, 2025 and October 25, 2027.

If the index rises, investors get 160% of the price gain, capped at a maximum payment of $1,205.60 per $1,000. If the index falls by up to 12.50%, principal is returned; below that buffer, losses accelerate at about 114.29% of further declines and can reach 100% of principal. The initial estimated value is $990.60 per $1,000, below issue price, the notes will not be listed, secondary market liquidity may be limited, 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 the common stock of Amazon.com, Inc., in $1,000 denominations, maturing in February 2027. Investors may receive monthly contingent coupons of $7.834 per $1,000 (0.7834% monthly, up to about 9.40% per year) if Amazon’s closing price on each observation date is at least 70.00% of the initial price. The notes are subject to automatic call starting in July 2026 if Amazon’s price on a call observation date is at or above the initial price, in which case investors receive $1,000 plus the applicable contingent coupon and the notes terminate early.

If the notes are not called and the final price is below 70.00% of the initial price, investors receive a share delivery amount of Amazon stock instead of cash, with a value below 70% of principal, resulting in substantial or total loss of investment and no final coupon. The notes are unsecured, unsubordinated obligations of The Bank of Nova Scotia, not insured by any deposit insurer, not listed on an exchange and have an initial estimated value of $925.00–$955.00 per $1,000, below the original issue price due to commissions, structuring fees and hedging costs.

The Bank of Nova Scotia is offering $10,000,000 of Buffered Contingent Income Auto-Callable Securities with Memory Coupon and Downside Leverage due January 4, 2027, linked to the Invesco QQQ Trust, Series 1. Each security has a $1,000 stated principal amount and is a senior unsecured, principal-at-risk note under BNS’ Senior Note Program, Series A.

The notes can pay a contingent monthly coupon of $10.20 per $1,000 (equivalent to 12.24% per annum) for any determination date on which QQQ’s closing price is at or above 90% of the initial share price of $623.93, a downside threshold of $561.537. Missed coupons can be “remembered” and paid later if a future determination date meets the threshold. If on any non-final determination date QQQ closes at or above 100% of the initial share price, $623.93, the notes are automatically redeemed at $1,000 plus the applicable coupon and any unpaid coupons.

If not called early and QQQ finishes at or above the downside threshold, investors receive $1,000 plus the final coupon and any unpaid coupons at maturity. If the final share price is below the downside threshold, repayment is based on a leveraged downside formula: investors lose about 1.1111% of principal for every 1% QQQ falls below the threshold and could lose their entire investment. The notes do not participate in upside QQQ appreciation, pay no dividends, will not be listed on an exchange, and all payments depend on BNS’ credit. The estimated value on the pricing date is $996 per $1,000 note, less than the issue price.

The Bank of Nova Scotia is offering $12,000,000 of senior unsecured structured notes linked to Alphabet Inc. Class A common stock. These Buffered Contingent Income Auto-Callable Securities can pay a contingent monthly coupon of $12.40 per $1,000 note (equivalent to 14.88% per annum) for each determination date when Alphabet’s closing price is at or above the downside threshold of $251.272, which is 80% of the initial share price of $314.09. Missed coupons may be paid later under the “memory” feature if the threshold is met on a future date.

If on any non-final determination date Alphabet’s price is at or above the call threshold of $314.09, the notes are automatically redeemed at par plus the applicable coupon and any unpaid coupons, and no further payments are made. If held to maturity on January 4, 2027 and Alphabet’s final price is below the downside threshold, investors receive a cash value that loses 1.25% for every 1% the final price falls below the threshold, up to a total loss of principal. Investors do not participate in any stock upside, receive no dividends, face limited liquidity, and are fully exposed to BNS credit risk. The initial estimated value is $994.50 per $1,000 note, below the issue price.

The Bank of Nova Scotia is offering market-linked senior unsecured notes tied to the S&P 500® Index, maturing on January 4, 2030. Each security has a $1,000 face amount and pays no coupons or dividends. At maturity, holders receive $1,000 plus 100% of any positive Index return, capped at a maximum return of 23.00%, for a maximum payment of $1,230 per security. If the Index is flat or down, investors receive only the $1,000 face amount.

The notes are subject to the credit risk of The Bank of Nova Scotia and are not insured by Canadian or U.S. deposit insurers. They will not be listed on any exchange and may have limited or no secondary market. The Bank’s estimated value on the pricing date is $953.41 per security (95.341%), below the $1,000 original offering price, reflecting selling commissions, structuring and hedging costs. U.S. tax counsel expects the notes to be treated as contingent payment debt instruments, leading to taxable income accruals before cash is received.

The Bank of Nova Scotia is issuing market-linked senior notes tied to three major equity indices — the S&P 500, Russell 2000 and Nasdaq‑100 — maturing in June 2027. These $1,000 face amount securities pay a contingent coupon of 10.00% per annum, but only in months when the worst-performing index on the calculation day is at or above 75% of its starting level.

If on any monthly calculation day from June 2026 to May 2027 the worst-performing index is at or above its starting level, the notes are automatically called for $1,000 plus that month’s coupon, ending the investment early. If the notes are not called, principal repayment at maturity depends entirely on the final level of the worst index: investors receive $1,000 only if it is at or above 75% of its starting level.

If the worst index finishes below 75% of its starting level, the maturity payment is reduced in line with that index’s decline, and investors can lose more than 25% and up to all of their principal. The Bank’s estimated value is $974.28 per $1,000 security, reflecting selling costs and hedging profits. The notes are unsecured obligations subject to BNS credit risk and are not listed on any exchange.

The Bank of Nova Scotia is offering Capped Buffered Enhanced Participation Notes linked to the S&P 500® Index. These unsecured senior notes run for about 17 to 20 months and pay no interest. At maturity, investors get leveraged exposure to any index gain through a 150.00% participation rate, but the payoff is capped by a maximum payment amount per $1,000 of principal.

If the index is flat or down by up to 10.00%, investors receive their full principal back. If it falls by more than 10.00%, losses accelerate, with up to 100% of principal at risk. The initial estimated value, based on the bank’s internal models, is expected to be between $945.58 and $975.58 per $1,000, below the issue price, 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 senior unsecured Market Linked Securities tied to an unequally weighted basket of equity indices: EURO STOXX 50® (38%), TOPIX® (26%), FTSE® 100 (17%), Swiss Market Index (11%) and S&P/ASX 200 (8%). Each security has a $1,000 face amount, no interest payments and matures on January 3, 2031.

At maturity, if the basket ending level is above the starting level of 100.00, holders receive $1,000 plus 167.00% of the basket’s percentage gain. If the ending level is between 75 (the 75% threshold level) and 100, holders receive only the $1,000 face amount. If the ending level is below 75, repayment is reduced one-for-one with the basket loss, so more than 25%, and possibly all, of principal can be lost.

The original offering price is $1,000 per security, with an agent discount of $38.70 (3.87%) and proceeds to the Bank of $961.30 per security, for a total offering of $1,143,000.00. The Bank’s estimated value is $924.86 (92.486%) per security. The notes are not listed on an exchange, do not pay dividends, and all payments are subject to the Bank’s credit risk.

The Bank of Nova Scotia is offering senior unsecured ETF-linked notes tied to the SPDR® Gold Trust, maturing on February 1, 2030. Each security has a $1,000 face amount and pays no periodic interest. At maturity, investors receive $1,000 plus any upside if the fund has risen, with a 100% participation rate but a maximum return of at least 31.50%, so the maturity payment will be at least $1,315 per security if the cap is reached. If the fund is flat or down, investors receive only the $1,000 face amount.

The original offering price is $1,000 per security, including an agent discount of up to $38.25 and proceeds to the bank of $961.75 per security. The bank estimates the initial economic value at between 91.469% and 94.469% of the offering price, reflecting selling costs and hedging profits. The notes will not be listed on any exchange, all payments depend on the credit of The Bank of Nova Scotia, and investors are subject to complex tax treatment as contingent payment debt instruments.

The Bank of Nova Scotia is offering contingent income auto-callable senior notes under its Series A program, linked to the common stock of GE Vernova Inc. Each security has a $1,000 stated principal amount and is scheduled to mature around January 12, 2029, unless called earlier.

Investors may receive a $30.00 quarterly contingent coupon per security (equivalent to 12.00% per annum of the stated principal amount) on any determination date when GE Vernova’s closing stock price is at or above 50.00% of the initial share price, with a “memory” feature that can pay previously skipped coupons later. If the stock closes at or above 100.00% of the initial share price on any non-final determination date, the notes are automatically redeemed for principal plus the applicable contingent coupon and any unpaid coupons.

Principal is fully at risk. If the final share price is below the 50.00% downside threshold, repayment is reduced 1-for-1 with the stock’s decline, and the payment at maturity can be less than 50.00% of principal or zero. The notes are unsecured obligations of BNS, subject to its credit risk, are not insured, will not be listed on an exchange, and have an initial estimated value between $933.71 and $963.71 per $1,000, which is lower than the issue price.

The Bank of Nova Scotia is offering senior unsecured market-linked securities tied to the lowest performing of Constellation Energy, Duke Energy and GE Vernova common stock, maturing on January 4, 2029. Each security has a $1,000 face amount and does not pay interest.

The notes may be automatically called on January 4, 2027 if the lowest performing stock is at least 90% of its starting price, paying back face amount plus a 29% call premium150% of any gain in the lowest stock; full principal back if that stock is down by no more than the 38% buffer; or a loss matching declines beyond the buffer, up to 62% of principal.

The Bank’s estimated value is $916.93 per $1,000 security, reflecting selling, structuring and hedging costs. The notes are not listed, carry the credit risk of The Bank of Nova Scotia, and are not insured by Canadian or U.S. deposit insurance schemes.

The Bank of Nova Scotia is issuing $302,000 of Capped Barrier Return Enhanced Notes linked to the Russell 2000 Index, maturing on January 4, 2029. The notes provide 200% upside participation in any positive index performance, but gains are capped at a 41.40% maximum return, so the most an investor can receive is $1,414 per $1,000 note.

The initial index value is 2,500.586 and the barrier is set at 85% of that level, or 2,125.498. If the final index value is above the initial level, investors receive $1,000 plus the leveraged gain, subject to the cap. If the final value is at or below the initial level but at or above the barrier, investors receive only their $1,000 principal. If the final value falls below the barrier, repayment is reduced 1-for-1 with the index loss, and up to 100% of principal can be lost. The notes pay no interest, are unsecured obligations of the Bank, will not be listed on an exchange and had an initial estimated value of $963.54 per $1,000, below the issue price.

The Bank of Nova Scotia is offering contingent income auto-callable senior notes linked to the common stock of Netflix, Inc. Each security has a $1,000 stated principal amount and pays a $27.00 contingent quarterly coupon (equal to 10.80% per annum) only if the Netflix closing price on the relevant determination date is at least 60.00% of the initial share price, the downside threshold.

If on any non-final determination date the Netflix price is at or above 100.00% of the initial share price, the notes are automatically redeemed at par plus that quarter’s coupon and no further payments are made. If the notes are not called and the final share price is below the downside threshold, investors receive the principal multiplied by the share performance factor, resulting in a loss that can reach 100% of principal. The notes are unsecured obligations of BNS, are not listed on any exchange, and have an initial estimated value between $936.72 and $966.72 per $1,000 issue price.