Bank of Nova Scotia 424B Filings

The Bank of Nova Scotia is offering $2,897,000 of Autocallable Contingent Coupon Trigger Notes linked to the common stock of Amazon.com, Inc., maturing January 22, 2027. The notes pay a monthly contingent coupon of $8.834 per $1,000 (0.8834% monthly, about 10.60% per year) only if Amazon’s closing price on each observation date is at least 70% of the initial price of $226.76. Starting in June 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 Amazon’s final price is at least 70% of the initial price, investors receive $1,000 per note plus the final coupon; if it is below 70%, investors receive Amazon shares worth less than 70% of principal and no coupon, risking a large or total loss. The notes are unsecured obligations of The Bank of Nova Scotia, are not insured, and had an initial estimated value of $938.36 per $1,000, below the 100% issue price, reflecting fees, structuring costs and hedging.

The Bank of Nova Scotia is offering 411,901 Autocallable Bear Strategic Accelerated Redemption Securities linked to the Nasdaq-100 Index. Each note has a $10 principal amount and may be automatically called if the Index level on any of four observation dates is less than or equal to the starting level of 25,019.37.

If called, investors receive $10 plus a fixed call premium, ranging from $10.785 on the first observation date to $13.140 on the final one. If the notes are never called and the Index ends above the starting level, repayment is reduced by the Index’s percentage increase, up to a 100% loss of principal. The notes pay no interest, are unsecured senior debt subject to BNS credit risk, have limited expected secondary market liquidity, and are not insured by any deposit insurance agency.

The public offering price is $10.00 per unit, with an initial estimated value of $9.87 per unit, reflecting underwriting discounts and a $0.05 per-unit hedging-related charge. Gross proceeds are $4,119,010.00, with approximately $4,067,522.38 to BNS before expenses.

The Bank of Nova Scotia is offering 3,308,511 units of Autocallable Leveraged Index Return Notes linked to the Russell 2000 Index, each with a $10.00 principal amount, for a total public offering price of $33,067,756.00. Before expenses, proceeds to BNS are $32,423,407.80 after a $0.20 per-unit underwriting discount and a $0.05 per-unit hedging-related charge.

The notes have a term of about three years and may be automatically called after roughly one year at $11.00 per unit, delivering a 10.00% return if the index is at or above its starting level of 2,507.867 on the Observation Date. If not called, holders receive 201.00% leveraged upside on index gains at maturity, but take 1-to-1 losses on any decline, with up to 100.00% of principal at risk. The initial estimated value is $9.66 per unit, there are no periodic interest payments, liquidity is expected to be limited, and all payments depend on BNS’s credit.

The Bank of Nova Scotia is offering Autocallable Strategic Accelerated Redemption Securities® linked to the Nasdaq-100 Index®, with 1,476,473 notes at a principal amount of $10 per unit, for a total public offering price of $14,749,730. These senior unsecured notes may be automatically called on annual observation dates if the Index is at or above the starting level of 25,019.37, paying call amounts that rise from $10.77 on the first observation date up to $14.62 on the final one.

If the notes are not called, they mature in about six years. At maturity, investors receive full principal back if the Index has not fallen more than 15% from the starting value; below that threshold, losses match the Index decline beyond 15%, with up to 85% of principal at risk. The initial estimated value is $9.57 per unit, below the $10 public offering price, reflecting underwriting discounts of $0.20 per unit, a $0.05 hedging-related charge, and BNS’s internal funding rate. The notes pay no interest, are not listed on an exchange, and all payments depend on BNS’s credit.

The Bank of Nova Scotia is offering $369,000 of Capped Buffered Enhanced Participation Notes linked to the Russell 2000® Index, maturing on September 23, 2027. The notes provide 150% participation in any positive index return, capped at a maximum payment of $1,191 per $1,000 of principal, which corresponds to a cap at an index gain of about 12.7333%.

A 10% downside buffer protects principal only if the index decline from the initial level of 2,507.867 is not greater than 10%; below that, investors lose 1% of principal for each 1% additional index loss, up to a 90% loss. The notes pay no interest, are unsecured and unsubordinated obligations of the Bank, and are not insured by Canadian or U.S. deposit insurers. The original issue price is 100% of principal, with underwriting commissions of 2.20%, and the initial estimated value is $959.38 per $1,000, reflecting internal funding and structuring costs that may reduce secondary market value.

The Bank of Nova Scotia is offering $468,000 of Autocallable Digital Trigger Notes linked to the worst performer of the Russell 2000 and S&P 500, maturing December 21, 2028. The notes pay no interest and are senior unsecured obligations of the Bank.

The notes may be automatically called on December 18, 2026 if both indexes are at or above their initial levels of 2,507.867 (Russell 2000) and 6,774.76 (S&P 500). If called, investors receive $1,090 per $1,000 principal, reflecting a 9.00% call premium.

If not called, the maturity payoff depends on the worst-performing index. If both final levels are at or above their initial levels, investors receive at least $1,400 per $1,000, with additional upside if the worst index gain exceeds 40%. If any index finishes below its initial level but at or above 85% of it, investors receive only principal back. If any index ends below 85% of its initial level, repayment is reduced one-for-one with the loss in the worst index, down to total loss of principal. The initial estimated value is $933.86 per $1,000, below the issue price due to fees, funding and hedging costs.

The Bank of Nova Scotia is issuing $170,000 in Autocallable Contingent Coupon Trigger Notes linked to the shares of the VanEck Semiconductor ETF, maturing on March 23, 2027. These unsecured senior notes pay a contingent quarterly coupon of 2.5625% (up to 10.25% per annum) only if, on an observation date, the ETF’s closing price is at or above 70.00% of the initial price of $347.25.

The notes may be automatically called starting in June 2026 if the ETF closes at or above the initial price, in which 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 is at least 70.00% of the initial price, investors receive $1,000 per note plus the final contingent coupon.

If the final price is below 70.00% of the initial price, repayment is reduced dollar-for-dollar with the ETF’s decline, and investors can lose up to their entire principal and receive no coupon. The initial estimated value is $958.97 per $1,000 principal amount, below the 100% issue price, and the notes are subject to the credit risk of The Bank of Nova Scotia with no listing on a securities exchange.

The Bank of Nova Scotia is offering unsecured Autocallable Contingent Buffered Return Enhanced Notes linked to the S&P 500® Index, maturing on December 30, 2027, with a minimum investment of $10,000. The notes pay no interest and all payments depend on the Bank’s credit.

The notes are automatically called on January 8, 2027 if the S&P 500 closing value is at or above its initial level, returning the $1,000 principal plus a $95 (9.50%) call premium per note. If they are not called and the index ends above its initial level at maturity, investors earn at least 139.11% of the index’s positive price return.

If at maturity the index is between 90% and 100% of its initial level, investors receive only their principal back. Below 90%, principal loss is magnified: about 1.1111% loss for each additional 1% drop, up to a total loss. The initial estimated value is expected between $951.72 and $981.72 per $1,000, reflecting structuring and hedging costs. The notes are not insured by CDIC or FDIC and will not be listed on an exchange, so liquidity may be limited.

The Bank of Nova Scotia is issuing $930,000 in Capped Buffered Index-Linked Notes tied to the Russell 2000 and S&P 500, maturing on June 24, 2027. Each $1,000 note pays no interest and the payoff depends on the least performing index between the trade date and the valuation date.

If both indexes finish above their initial levels, investors earn 120% of the gain of the weaker index, capped at a maximum payment of $1,182.50 per $1,000. If any index is down but not below 90% of its initial level, investors gain 120% of the absolute loss, turning moderate declines into positive returns. If any index falls below 90% of its initial level, principal is reduced one-for-one beyond that buffer, with up to a 90% loss of principal.

The notes are unsecured senior obligations subject to the Bank’s credit risk, are not insured, and will not be listed on an exchange. The initial estimated value is $952.55 per $1,000, below the issue price, and dealer commissions and hedging costs may depress secondary market prices and liquidity.

The Bank of Nova Scotia is offering $1,588,000 of Autocallable Trigger Notes linked to the least performing of the Nasdaq-100 Index® and the Russell 2000® Index, maturing on December 23, 2027. The notes pay no interest and may be automatically called on December 18, 2026 if both indices are at or above their initial levels (25,019.37 for the Nasdaq-100 and 2,507.867 for the Russell 2000). In that case, investors receive $1,000 plus an 11.00% call premium per $1,000 on December 23, 2026.

If not called, the maturity payment is tied to the worst-performing index. If both final index levels exceed their initial levels, the return equals 250.00% of the least performing index’s gain. If any index finishes at or below its initial level but at or above 75.00% of its initial level, investors receive only principal back. If any index ends below 75.00% of its initial level, repayment is reduced one-for-one with the loss in the worst index, down to a total loss of principal. The initial estimated value is $952.77 per $1,000, below the issue price, and any payment depends on the creditworthiness of The Bank of Nova Scotia.

The Bank of Nova Scotia is offering $752,000 of Buffered Index-Linked Notes tied to the S&P 500 Index, maturing on March 23, 2027. The notes pay no interest and all return comes from the index performance between the December 18, 2025 trade date and the March 18, 2027 valuation date.

At maturity, investors get equity-like exposure with a 10% downside buffer and a capped upside. Gains match the index return but are limited to a maximum payment of $1,082.50 per $1,000 principal (108.25%). If the index falls up to 10%, investors gain the same amount in absolute terms. If it falls more than 10%, losses resume on a 1-for-1 basis beyond the buffer, up to a 90% loss of principal. The notes are unsecured, unsubordinated obligations of The Bank of Nova Scotia, not insured by CDIC or FDIC, not listed on an exchange, and had an initial estimated value of $952.77 per $1,000, below the issue price.

The Bank of Nova Scotia is offering Trigger Autocallable Contingent Yield Notes linked to Microsoft common stock, with a term of about two years and a $10 principal amount per Note.

Investors can receive a contingent coupon at a rate of at least 8.15% per annum, but only if Microsoft’s closing price on each monthly observation date is at or above a coupon barrier set at 70% of the initial share price. The Notes are automatically called after three months if Microsoft closes at or above the initial level on an observation date, returning principal plus the applicable coupon and ending further payments.

If the Notes are not called and Microsoft’s final level is at or above the 70% downside threshold, principal is repaid at maturity; if it is below that level, repayment is reduced in line with the share price decline and investors can lose their entire investment. The initial estimated value is between $9.45 and $9.75 per $10 Note, the Notes are not listed, may have limited liquidity, pay no dividends from Microsoft, and all payments depend on the creditworthiness of Bank of Nova Scotia.

The Bank of Nova Scotia is issuing $10,911,000 of autocallable contingent coupon buffer notes with a memory coupon linked to the common stock of NVIDIA Corporation, maturing on January 7, 2027. The notes pay a contingent coupon of $41.20 per $1,000 note on scheduled dates only if NVIDIA’s share price on each Observation Date is at or above 75.00% of the Initial Value; missed coupons can be paid later if a future barrier is met. The notes are automatically called at par plus applicable coupons if NVIDIA’s share price on any Observation Date before maturity is at or above the Initial Value.

If not called and the Final Value is at or above 75.00% of the Initial Value, investors receive principal back plus any due coupons. If the Final Value falls below this 75.00% buffer level, repayment is reduced on a leveraged basis, and up to 100% of principal may be lost. The notes are unsecured, unsubordinated obligations of the Bank, not insured by CDIC or FDIC, will not be listed on an exchange, and had an initial estimated value of $986.23 per $1,000, below the 100% issue price.

The Bank of Nova Scotia is offering $15,454,500 of Trigger Autocallable Notes linked to the Russell 2000 Index, maturing in December 2030. The notes pay no coupons but can be automatically called quarterly after 12 months if the index closes at or above the initial level of 2,529.425, delivering a call price based on an 8.30% per annum call return rate. If never called and the final index level is at or above the downside threshold of 1,897.069 (75% of the initial level), investors receive only the $10 principal per note. If the final level is below this threshold, repayment is reduced in line with the index loss, and investors can lose their entire investment. The notes are unsecured obligations of BNS, have an initial estimated value of $9.594 per $10 note, will not be listed on an exchange, and rely entirely on BNS’s creditworthiness.

The Bank of Nova Scotia is issuing $1,178,000 in Autocallable Contingent Coupon Notes due December 22, 2028, linked to the common stock of NVIDIA Corporation. The Notes pay a contingent coupon of $44.50 per $1,000 (17.80% per annum) on scheduled observation dates only if NVIDIA’s closing price is at or above the Contingent Coupon Barrier Value of $126.69, which is 70% of the Initial Value of $180.99.

The Notes are automatically called, returning principal plus the applicable coupon, if on any call observation date NVIDIA closes at or above the Initial Value. If not called, maturity payment depends on the Final Value: investors receive full principal if it is at or above the Barrier Value of $126.69, but lose 1% of principal for each 1% decline from the Initial Value if the Final Value is below the Barrier, up to a total loss.

The Notes are unsecured and unsubordinated obligations of the Bank and are not insured by CDIC or FDIC. The initial estimated value is $967.42 per $1,000, below the 100% issue price, with underwriting commissions of 2.00% and net proceeds to the Bank of $1,154,440. The Notes will not be listed and may have limited or no secondary market liquidity.

The Bank of Nova Scotia is offering unsecured Autocallable Digital Buffer Notes linked to the S&P 500® Index, maturing on December 30, 2027. The notes do not pay interest and all payments depend on the Bank’s credit.

The notes are automatically called on January 8, 2027 if the index is at or above 100% of its initial level, paying $1,000 plus a call premium of at least $82.80 (at least 8.28%) per note. If not called and the final index level is at or above the initial level, investors receive $1,000 plus the greater of a fixed return of at least 16.56% or the index gain.

If the final index level is below the initial but at or above 85% (the 15% buffer), investors receive only the $1,000 principal. Below the 85% buffer, losses are magnified by a downside leverage factor of about 1.1765 and investors can lose up to 100% of principal. The initial estimated value is expected to be $950.18–$980.18 per $1,000, below the issue price, and the notes will not be listed on any exchange.

The Bank of Nova Scotia is offering $3,185,000 of unsecured Autocallable Contingent Coupon Buffer Notes with Memory Coupon linked to Alphabet Inc. Class A common stock, maturing on January 7, 2027.

The notes pay a contingent coupon of $42.10 per $1,000 note on scheduled dates only if Alphabet’s share price on the relevant observation date is at least 85% of the initial value, with missed coupons potentially paid later if conditions are met. The notes are automatically called early if Alphabet’s closing value on an observation date is at or above the initial value, returning principal plus applicable coupons, after which no further payments are made.

At maturity, if not called and Alphabet’s final value is at least 85% of the initial value, investors receive full principal plus any due coupons; if it is below that level, principal is reduced using a downside leverage factor of approximately 1.1765, and investors can lose up to 100% of principal$987.05 per $1,000, below the issue price.

The Bank of Nova Scotia is offering $1,396,000 of dual directional capped buffered notes linked to the S&P 500® Index, maturing on December 23, 2027. Each $1,000 note provides upside exposure to the index up to a maximum gain of 17.44%, and also offers positive returns if the index falls but remains at or above 80.00% of its initial level.

If the index drops below 80.00% of the initial value, investors lose 1.25% of principal for each 1% further decline, up to a total loss of principal. The notes pay no interest, are unsecured and unsubordinated obligations of the Bank, and are not insured by the CDIC or FDIC. They will not be listed on any exchange, and liquidity will depend on the willingness of the dealer to make a market.

The original issue price is 100% of principal, while the Bank’s initial estimated value is $981.34 per $1,000, reflecting internal funding and hedging costs, as well as a 1.50% placement fee (foregone for fiduciary accounts). All payments are made only at maturity and are subject to the Bank’s credit risk.

The Bank of Nova Scotia is offering unsecured Contingent Buffer Digital Notes linked to the common stock of Amazon.com, Inc., maturing on January 13, 2027. Each Note has a $1,000 principal amount (minimum investment $10,000) and pays no interest, with all payments made in cash at maturity.

If the Amazon stock “Final Value” is at least 85% of the Initial Value, investors receive a fixed “Digital Return” of at least 14.00%, for a payment of at least $1,140 per $1,000. If the Final Value is below 85% of the Initial Value, repayment of principal is reduced on a leveraged basis, so investors lose about 1.1765% of principal for each 1% decline beyond the 15% buffer and can lose up to their entire investment.

The Notes are senior unsecured obligations of The Bank of Nova Scotia, subject to its credit risk, will not be listed on an exchange, and may have limited or no secondary market. The initial estimated value is expected to be between $956.68 and $986.68 per $1,000, reflecting fees, hedging costs and the Bank’s internal funding rate.

The Bank of Nova Scotia is offering $1,521,000 of three-year autocallable contingent coupon notes linked to Tesla, Inc. common stock. These unsecured senior notes pay a contingent coupon of $48.75 per $1,000 Note (19.50% per annum) only if Tesla’s closing price on each observation date is at or above a barrier of $288.72, which is 60% of the $481.20 initial value. If on any call observation date Tesla closes at or above the initial value, the notes are automatically called for $1,000 per Note plus the applicable coupon, with no further payments.

If the notes are not called and Tesla’s final value on December 19, 2028 is at or above the $288.72 barrier, investors receive full principal back plus any final coupon. If the final value is below the barrier, repayment is reduced one-for-one with Tesla’s decline from the initial value, with losses up to 100% of principal. The initial estimated value is $960.93 per $1,000, below the issue price, and the notes are subject to the credit risk of The Bank of Nova Scotia and may have limited or no secondary market liquidity.

The Bank of Nova Scotia is offering $5,132,000 of Autocallable Digital Buffer Notes linked to the common stock of Snowflake Inc. These are senior unsecured debt securities of the Bank and all payments depend on its creditworthiness.

The notes may be automatically called on January 4, 2027 if Snowflake’s share price is at or above the Initial Value of $222.46, paying $1,230.60 per $1,000 note (a 23.06% return) and then terminating. If not called, and on the December 20, 2027 Final Valuation Date the share price is at or above the Initial Value, investors receive $1,000 plus the greater of a fixed 46.12% digital return or the actual positive stock return.

If the Final Value is between 75% and 100% of the Initial Value, investors receive back the $1,000 principal. Below 75%, losses are leveraged: investors lose about 1.3333% of principal for each 1% decline beyond the 25% buffer, up to a total loss. The notes pay no interest, provide no dividends, are not listed, and had an initial estimated value of $980.88 per $1,000, below the issue price.

The Bank of Nova Scotia is offering unsecured, autocallable contingent coupon buffer notes linked to the common stock of Broadcom Inc. The notes have a principal amount of $1,000 each, a minimum investment of $10,000, and are expected to run for about 54 weeks, maturing on January 13, 2027, unless called earlier.

The notes pay a contingent coupon of at least $47.10 per $1,000 on scheduled dates only if Broadcom’s closing price on the related observation date is at or above 75% of its initial value; missed coupons may be “remembered” and paid later if a future barrier is met. The notes are automatically called if, on any observation date before maturity, the stock closes at or above its initial value, returning principal plus due coupons.

If not called and the final stock value is at or above 75% of the initial value, investors receive full principal back plus any due coupons. If the final value is below 75% of the initial value, repayment is reduced on a leveraged basis (about 1.3333% loss of principal for each 1% decline beyond the 25% buffer), up to a total loss. The initial estimated value is expected between $953.10 and $983.10 per $1,000, the notes are not listed on any exchange, and all payments are subject to the credit risk of The Bank of Nova Scotia.

The Bank of Nova Scotia is offering senior unsecured Market Linked Securities that are auto-callable notes tied to the worst-performing of Constellation Energy, Duke Energy and GE Vernova common stocks. Each security has a $1,000 face amount and pays no interest or dividends.

The notes may be automatically called around January 4, 2027 if the lowest-performing stock is at least 90% of its starting price, in which case investors receive $1,000 plus a call premium of at least 29%. If not called, at maturity in January 2029 investors get: leveraged upside of 150% of any gain in the lowest-performing stock, full principal back if its decline does not exceed the 38% buffer, or a loss matching further declines, up to a 62% loss of principal.

The securities are estimated to be worth about $885.22–$915.22 per $1,000 at pricing, reflecting selling commissions, dealer discounts and hedging costs. They will not be listed on an exchange, all payments depend on the credit of the Bank, and early secondary market prices may be substantially below the original offering price.

The Bank of Nova Scotia is issuing $8,955,000 in Autocallable Contingent Coupon Buffered Notes linked to the common stock of NVIDIA Corporation, maturing on January 22, 2027. The notes pay a contingent coupon of $10.542 per $1,000 (about 1.0542% monthly, up to approximately 12.65% per annum) for any month where NVIDIA’s closing price is at least 75.00% of the initial price of $170.94.

Beginning in June 2026, the notes are automatically called if NVIDIA’s closing price on a call observation date is at or above the initial price, returning $1,000 per note plus the applicable coupon. If the notes are not called, investors receive at maturity either full principal plus the final coupon if the final price is at least 75.00% of the initial price, or a reduced amount if NVIDIA has fallen below that buffer. In a severe decline, investors can lose up to 75.00% of principal and receive no coupon.

The notes are unsecured, unsubordinated obligations of The Bank of Nova Scotia, not insured by CDIC or FDIC, and will not be listed on any exchange. The initial estimated value is $987.51 per $1,000 note, below the issue price, reflecting structuring fees, distribution costs and hedging. Returns depend both on NVIDIA’s share performance and the Bank’s creditworthiness.

The Bank of Nova Scotia is offering principal-at-risk Contingent Income Auto-Callable Securities linked to the American depositary receipts of Taiwan Semiconductor Manufacturing Company Limited. These roughly two-year notes target a $26.60 quarterly coupon per $1,000 (about 10.64% per annum) for each determination date on which the TSM ADR closes at or above 60% of its initial price; missed coupons can be paid later under a “memory” feature.

If on any non-final determination date the ADR closes at or above 100% of the initial price, the notes are automatically redeemed at par plus the due coupon and any unpaid coupons, ending the investment early. At maturity, if the final ADR price is at or above 60% of the initial level, investors receive par plus the due coupon and any unpaid coupons.

If the final ADR price is below 60% of the initial level, repayment is fully exposed to TSM’s decline on a 1-to-1 basis, and the maturity payment can be far below par and as low as zero. The notes pay no dividends, will not be listed, have limited liquidity, and all payments depend on BNS’s credit. The estimated value at pricing is expected between $939.93 and $969.93 per $1,000 issue price.

The Bank of Nova Scotia is offering $42,985,000 of digital notes linked to the iShares 20+ Year Treasury Bond ETF, providing capped upside and buffered downside over roughly 25 months to February 3, 2028.

The notes pay no interest and repay at maturity based on ETF performance from the $87.40 initial price on December 15, 2025 to the February 1, 2028 valuation date. If the final price is at least 90% of the initial price, investors receive a fixed $1,160.50 per $1,000 principal (a 16.05% maximum gain). Below the 90% threshold, principal losses accelerate at about 1.1111% for every 1% decline beyond the 10% buffer, down to a total loss.

The securities are senior unsecured obligations of The Bank of Nova Scotia, not insured by Canadian or U.S. deposit insurers, and will not be listed on an exchange. The initial estimated value is $978.00 per $1,000, below the 100% issue price, reflecting structuring, hedging costs and the bank’s internal funding rate.

The Bank of Nova Scotia is offering $12,000,000 of autocallable contingent coupon buffer notes linked to the SPDR S&P 500 ETF Trust. These one-year notes pay a contingent coupon of $10.875 per $1,000 note on scheduled dates only if SPY’s closing value is at or above 95.00% of its initial level, with unpaid coupons "remembered" and paid later if a future barrier is met. The notes are automatically called early, returning principal plus due coupons, if on any observation date before maturity SPY is at or above its initial value.

If the notes are not called and on the final valuation date SPY is at or above 95.00% of the initial $671.40 level, investors receive full principal plus any due coupons. If SPY finishes below this 5.00% buffer, repayment is reduced by approximately 1.0526% of principal for each 1% decline beyond the buffer, up to a total loss. The notes are unsecured obligations of the bank, carry credit risk, are not insured, and will not be listed on an exchange.

The Bank of Nova Scotia is offering senior unsecured Market Linked Securities tied to the common stock of Palantir Technologies Inc., maturing in December 2028. These notes pay a contingent coupon at a rate of 19.70% per annum, but only if on each quarterly calculation day Palantir’s stock closes at or above the coupon threshold of $88.645, which is 50% of the starting price of $177.29. Missed coupons can be “remembered” and paid later if the threshold is met.

The notes are auto-callable quarterly from March 2026 to September 2028 if the stock closes at or above the starting price, returning the $1,000 face amount plus the applicable coupons. If not called, investors receive $1,000 at maturity only if the final stock price is at or above the downside threshold of $88.645. If it is below that level, the maturity payment is $1,000 multiplied by the stock’s performance factor, meaning investors can lose more than 50%, up to their entire principal.

The Bank’s estimated value is $971.71 (97.171%) per $1,000 security, reflecting selling costs and hedging profits. The securities are not listed, may have limited liquidity, and all payments are subject to the credit risk of The Bank of Nova Scotia.

The Bank of Nova Scotia is offering $27,635,000 of Capped Buffered Enhanced Participation Notes linked to the S&P 500 Index, maturing December 20, 2027. These unsecured notes pay no interest and their value at maturity depends on how the S&P 500 performs between December 16, 2025 and December 16, 2027.

If the index rises, holders receive 150% of the index gain, capped at a maximum payment of $1,217.50 per $1,000 note (a 21.75% maximum return). If the index is flat or down by up to 10%, investors receive back only the $1,000 principal per note. If the index falls more than 10%, losses accelerate: investors lose about 1.1111% of principal for each 1% decline beyond that buffer and can lose all of their investment.

The notes are not insured, are not listed on any exchange, and all payments depend on the creditworthiness of The Bank of Nova Scotia. The initial estimated value is $977.37 per $1,000, below the issue price, reflecting selling commissions, hedging costs and the bank’s internal funding rate.

The Bank of Nova Scotia is offering $3,109,000 in Autocallable Contingent Coupon Trigger Notes linked to the Class A common stock of Meta Platforms, Inc., maturing on January 22, 2027. Investors can receive monthly contingent coupons of $9.125 per $1,000 (0.9125% monthly, up to 10.95% per year) if Meta’s closing price on each observation date is at least 68.00% of the initial price of $657.15.

The notes are automatically called if, on any call observation date from June through December 2026, Meta’s price is at or above the initial price. In that 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 January 19, 2027 is at least 68.00% of the initial price, investors receive $1,000 plus the final coupon.

If the final price is below 68.00% of the initial price, investors receive Meta shares equal to $1,000 divided by the initial price (or cash if less than one share), whose value on the final valuation date will be less than 68.00% of principal, meaning a substantial or total loss is possible. The notes are unsecured, unsubordinated obligations of The Bank of Nova Scotia, are not insured, will not be listed on an exchange, and have an initial estimated value of $973.43 per $1,000, lower than the issue price.

The Bank of Nova Scotia is offering Capped Barrier Return Enhanced Notes linked to the Russell 2000® Index, maturing February 18, 2027. Each Note has a $1,000 principal amount and provides 200.00% participation in any positive index performance, but gains are capped by a Maximum Return that will be at least 15.50%. If the index ends above its initial level, the payment at maturity is $1,000 plus 200.00% of the index gain, up to this cap.

If the final index value is at or below the initial level but at or above the Barrier Value, set at 85.00% of the initial level, investors receive only their $1,000 principal back. If the final value falls below the barrier, the Notes lose 1% of principal for each 1% index decline from the initial level, up to a total loss of principal. The Notes pay no interest, are unsecured and unsubordinated obligations of The Bank of Nova Scotia, and all payments depend on the Bank’s credit. The initial estimated value is expected to be between $941.07 and $971.07 per $1,000, and underwriting commissions may be up to 2.00% of principal.

The Bank of Nova Scotia is offering $3,340,000 of Performance Leveraged Upside Securities (PLUS), senior unsecured notes linked to the S&P 500® Index and maturing on April 5, 2027. Each PLUS has a stated principal amount of $1,000 and offers 300% leveraged upside if the final index value is above the initial value of 6,800.26, but the payoff is capped at a maximum gain of 14.35%, or $1,143.50 per PLUS.

If the S&P 500® ends at or below the initial index value, investors lose 1% of principal for every 1% decline and can lose their entire investment. The PLUS pay no interest, provide no dividends from index stocks, and are intended for buy‑and‑hold investors willing to accept full equity downside and a return limited by the cap. All payments depend on BNS’s credit; the estimated value on the pricing date is $972.40 per $1,000, below the issue price due to sales commissions, structuring fees and hedging costs.

The Bank of Nova Scotia is offering $24,000,000 of senior unsecured structured notes linked to the Class A common stock of Alphabet Inc.. These "Buffered Contingent Income Auto-Callable Securities" pay a contingent monthly coupon of $12.50 per $1,000 security (equivalent to 15.00% per annum) for each determination date when Alphabet’s closing price is at or above 80% of the $308.22 initial share price (the downside threshold).

The notes may be automatically redeemed early if Alphabet closes at or above 100% of the initial share price on any non-final determination date, returning principal plus the applicable coupon and any unpaid coupons via a memory feature. If held to maturity on December 21, 2026 and Alphabet is below the downside threshold, repayment is reduced by 1.25% for every 1% decline below the threshold, and investors could lose their entire principal. The securities are not listed, all payments depend on BNS’s credit, and the initial estimated value is $995 per $1,000 issue price.

The Bank of Nova Scotia is offering $20,456,000 of Autocallable Contingent Coupon Trigger Notes linked to the common stock of NVIDIA Corporation, maturing on January 22, 2027. The notes pay a contingent coupon of $10.417 per $1,000 (1.0417% monthly, up to approximately 12.50% per annum) on each monthly observation date only if NVIDIA’s closing price is at least 59.00% of the initial price of $177.72.

Beginning in June 2026, the notes are automatically called 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. 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 whose value on the final valuation date is less than 59.00% of principal, resulting in a loss of all or a substantial portion of the investment.

The notes are unsecured, unsubordinated obligations of The Bank of Nova Scotia, are not insured by any deposit insurance agency, and will not be listed on an exchange. The initial estimated value is $974.93 per $1,000 note, below the 100% original issue price, with underwriting commissions of 2.15% and proceeds to the Bank of 97.85%.

The Bank of Nova Scotia is offering $11,977,000 of Auto-Callable Trigger PLUS, senior unsecured notes linked to the Russell 2000® Index, maturing January 4, 2028. Each security has a $1,000 stated principal amount and pays no interest or dividends.

The notes are automatically redeemed on December 29, 2026 for $1,139.30 per security if the index on the prior determination date is at or above the initial level of 2,519.304. If not called, at maturity investors receive $1,000 plus 125% of any index gain, $1,000 if the final index value is between 80% and 100% of the initial level, or a loss matching the index decline if it finishes below the 80% trigger level of 2,015.4432, potentially losing the entire principal.

The securities are not listed, have limited liquidity, and their value is affected by volatility in small-cap U.S. equities, interest rates, and BNS’ credit. The estimated value on the pricing date is $976.66 per $1,000, below the issue price due to selling, structuring and hedging costs.

The Bank of Nova Scotia is offering $10,514,000 in autocallable contingent coupon trigger notes linked to the Class C capital stock of Alphabet Inc. The notes pay a monthly contingent coupon of $9.667 per $1,000 (0.9667% monthly, about 11.60% per year) only when Alphabet’s share price on an observation date is at or above 68.00% of the initial price of $307.73.

Starting in June 2026, the notes are automatically called if Alphabet’s closing price on a call observation date is at or above the initial price, in which case holders receive $1,000 plus that month’s coupon and the notes terminate. If the notes are not called and Alphabet’s final price on January 19, 2027 is below 68.00% of the initial price, investors receive Alphabet shares worth less than 68% of principal, with no final coupon, and can lose most or all of their investment.

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 an exchange, and had an initial estimated value of $979.59 per $1,000, below the 100% original issue price due to commissions, fees and hedging costs.

The Bank of Nova Scotia is offering $8,536,000 of Dual Directional Buffered Performance Leveraged Upside Securities linked to the Russell 2000^® Index, maturing January 4, 2028. Each Buffered PLUS has a $1,000 stated principal amount, pays no coupons and is issued under BNS’ Senior Note Program, Series A.

If the index rises, holders receive principal plus 150% of the index gain, capped at a maximum payment of $1,192.50 per note (a 19.25% gain). If the index falls by up to 15%, investors receive principal plus an equal positive return, up to 15%. If the index falls by more than 15%, investors lose 1% of principal for each additional 1% drop, with a minimum repayment of $150 (meaning up to 85% of principal can be lost.

The notes are senior unsecured obligations of BNS, fully subject to its credit risk, and will not be listed on any exchange. The issue price is $1,000 per note, including $25 in sales commission and structuring fees, while the estimated value on the pricing date is $970.10.

The Bank of Nova Scotia outlines a new issue of Capped Buffered Enhanced Participation Notes linked to the S&P 500® Index. These unsecured senior notes have a term of about 21 to 24 months, pay no interest and all payments depend on the Bank’s credit.

At maturity, investors receive 160.00% of any positive index return, but gains are capped by a maximum payment amount expected between $1,187.68 and $1,220.80 per $1,000 of principal. A 12.50% buffer shields modest losses, but if the index falls more than 12.50% from its initial level, principal is reduced at an accelerated rate and investors can lose up to 100% of their investment.

The initial estimated value is expected between $957.30 and $987.30 per $1,000, below the original issue price, reflecting dealer costs, hedging and the Bank’s internal funding rate. The notes are not listed on any exchange, may have limited liquidity and do not provide dividends or any rights in the S&P 500 constituent stocks.

The Bank of Nova Scotia is offering $22.395 million of Digital Notes linked to the iShares 20+ Year Treasury Bond ETF, maturing February 3, 2028. The notes pay no interest and all return is determined at maturity from the ETF’s price change between December 12, 2025 and February 1, 2028.

For each $1,000 note, if the final ETF price is at least 90% of the $87.34 initial price, holders receive a fixed maximum payment of $1,160.50, capping upside at about 16.05%. If the final price is more than 10% below the initial price, principal loss is leveraged by a buffer rate of about 111.11%, so a 30% decline beyond the 10% threshold produces a larger percentage loss than the ETF’s decline, up to a total loss of principal.

The initial estimated value is $978.30 per $1,000, below the 100% issue price, reflecting internal funding and hedging costs; underwriting commissions are 1.57% of principal. The notes are unsecured, unsubordinated obligations of The Bank of Nova Scotia, are not insured, and will not be listed on an exchange, so secondary market liquidity may be limited.

The Bank of Nova Scotia is issuing senior unsecured Market Linked Securities tied to the common stock of Oklo Inc., maturing in December 2026. Each note has a $1,000 face amount and pays a contingent coupon at 36.15% per annum, with monthly payments only if Oklo’s stock closes at or above a threshold equal to 50% of the starting price ($75.94), or $37.97. Missed coupons can be “remembered” and paid later if the threshold is met.

From June to November 2026, the notes are auto-callable at par plus the applicable coupons if Oklo’s stock closes at or above the starting price on a calculation day. If not called, investors receive par at maturity only if the final stock price is at or above the same 50% downside threshold; otherwise, repayment is reduced in line with Oklo’s decline and can result in a loss of more than 50%, up to a total loss.

The original offering price is $1,000 per note, with total offering size of $3.245 million, while the Bank’s estimated value is $961.68 per note, reflecting dealer discounts, structuring and hedging costs. The securities are not listed, carry the full credit risk of The Bank of Nova Scotia, and are intended for investors who can hold to maturity and tolerate equity and issuer risk.

The Bank of Nova Scotia is offering senior unsecured Market Linked Securities tied to the common stock of UnitedHealth Group Incorporated. These one-year notes can be automatically called monthly from June to November 2026 if the stock closes at or above the starting price of $331.63, in which case investors receive the $1,000 face amount plus a final coupon.

The notes pay a 10.00% per annum contingent coupon, calculated monthly, but only when the stock’s closing price is at or above the coupon threshold of $215.5595, which is 65% of the starting price. If this level is not met on a calculation day, no coupon is paid for that month, and investors could receive no coupons over the entire term.

If the notes are not called and on the final calculation day the stock closes at or above the downside threshold of $215.5595, investors receive the full $1,000 face amount. If it finishes below that threshold, repayment is reduced in proportion to the stock’s decline from the starting price, leading to a loss of more than 35% and up to 100% of principal. The Bank’s estimated value at pricing is $969.75 (96.975%) per $1,000 note. The securities are not listed, carry the credit risk of The Bank of Nova Scotia, and are not insured by Canadian or U.S. deposit insurers.

The Bank of Nova Scotia is offering $10,103,700 of Trigger Autocallable Contingent Yield Notes linked to the worst performer between the SPDR S&P Bank ETF (KBE) and the SPDR S&P 500 ETF Trust (SPY), maturing on December 20, 2030. Investors receive a 9.33% per annum contingent coupon only when both ETFs stay at or above their coupon barriers, set at 70% of initial levels ($43.81 for KBE and $469.98 for SPY).

The notes can be called quarterly after six months if both ETFs are at or above their initial levels, repaying principal plus the coupon. If not called and any ETF finishes below its downside threshold (also 70% of its initial level), repayment is reduced in line with the decline of the worst ETF, and the entire principal can be lost. The initial estimated value is $9.56 per $10 note, below the issue price, and the notes are unsecured obligations exposed to BNS credit risk with no stock dividends or exchange listing.

The Bank of Nova Scotia is offering unsecured Autocallable Contingent Coupon Buffer Notes with Memory Coupon linked to the SPDR® S&P 500® ETF Trust. The notes have a $1,000 principal amount, a term to December 23, 2026, and a minimum investment of $10,000.

Investors can receive a contingent coupon of $10.875 per Note on scheduled dates, but only if SPY’s closing value is at least 95% of the initial value of $671.40 (a barrier and buffer level of $637.83). The notes may be automatically called early if SPY is at or above the initial value on an observation date, returning principal plus due coupons.

If not called and SPY finishes below the 95% buffer level, repayment of principal is reduced on a leveraged basis (about 1.0526% loss for each 1% drop beyond the 5% buffer), and investors could lose their entire investment. The initial estimated value is expected to be between $964.65 and $994.65 per $1,000, below the issue price, and all payments are subject to the Bank’s credit risk.

The Bank of Nova Scotia is offering unsecured Capped Barrier Return Enhanced Notes linked to the Nasdaq-100 Index®, maturing on January 4, 2029. Each Note has a $1,000 principal amount and a minimum investment of $1,000.

The Notes provide 200.00% participation in any positive index performance, but gains are capped by a Maximum Return expected to be at least 37.40%. If the index finishes at or below its Initial Value but at or above the Barrier Value set at 85.00% of the Initial Value, investors receive only their $1,000 principal.

If the Final Value is below the Barrier Value, repayment is reduced 1% for each 1% index decline from the Initial Value, with losses up to 100% of principal possible. The Notes pay no interest or dividends, are not listed, and all payments depend on the Bank’s credit. The initial estimated value is expected between $928.05 and $958.05 per $1,000, below the 100% issue price.

The Bank of Nova Scotia is offering unsecured Capped Barrier Return Enhanced Notes linked to the Russell 2000® Index, maturing January 4, 2029. The Notes provide 200% participation in any positive index performance, but gains are capped by a Maximum Return expected to be at least 41.40%, so the maximum payment example is $1,414 per $1,000 Note. If the index finishes at or below its Initial Value but no lower than 85% of that level (the Barrier Value), investors receive only their $1,000 principal back. If the Final Value is below the Barrier Value, repayment is reduced one-for-one with the index loss and investors can lose their entire principal. The Notes pay no interest, have a minimum investment of $1,000, will not be listed on an exchange, and all payments are subject to the credit risk of The Bank of Nova Scotia. The initial estimated value is between $928.39 and $958.39 per $1,000 Note, below the 100% issue price.

The Bank of Nova Scotia is offering Autocallable Contingent Coupon Trigger Notes linked to the common stock of Air Products and Chemicals, Inc., maturing on or about July 8, 2027. Each note has a $1,000 principal amount and pays a contingent monthly coupon of $9.167 per $1,000 (0.9167% per month, about 11.00% per year) only if, on the relevant observation date, APD’s share price is at least 70% of the initial price.

The notes are automatically called if on any call observation date from July 2026 through June 2027 APD closes at or above the initial price, in which case investors receive $1,000 plus the coupon for that month and the notes terminate. If the notes are not called, then at maturity investors receive $1,000 plus the final coupon if APD’s final price is at least 70% of the initial price.

If APD’s final price is below 70% of the initial price, repayment of principal is reduced one-for-one with APD’s decline, and investors can lose up to 100% of their investment with no final coupon. The notes are unsecured, unsubordinated obligations of The Bank of Nova Scotia, are not insured by CDIC or FDIC, will not be listed, and have an initial estimated value between $925 and $965 per $1,000, less than the original issue price.

The Bank of Nova Scotia is offering unsecured, unsubordinated Capped Barrier Return Enhanced Notes linked to the S&P 500® Index, each with a $1,000 principal amount and a term of about three years, maturing on January 4, 2029. The Notes provide 200.00% participation in any positive index performance, but gains are capped at a Maximum Return of at least 31.00%, so the maximum payment is at least $1,310 per $1,000 note if the cap is set at 31.00%.

At maturity, investors receive $1,000 if the S&P 500 Final Value is at or below the Initial Value but at or above the Barrier Value, set at 85.00% of the Initial Value. If the Final Value falls below the Barrier, repayment is fully exposed to index losses and investors may lose up to 100% of principal. The Notes pay no interest or dividends, are not insured by the CDIC or FDIC, and will not be listed on any securities exchange, so liquidity may be limited.

The initial estimated value is expected to be between $929.28 and $959.28 per $1,000 note, reflecting internal funding and hedging costs. All payments depend on the creditworthiness of The Bank of Nova Scotia.

The Bank of Nova Scotia is offering senior unsecured Contingent Income Auto-Callable Securities linked to the common stock of NVIDIA Corporation, maturing around December 29, 2028. Each security has a $1,000 stated principal amount and pays a contingent quarterly coupon of $26.625 (equivalent to 10.65% per year) only if NVIDIA’s closing price on the relevant determination date is at or above 50% of the initial share price, the downside threshold. Missed coupons can be paid later under a memory coupon feature if a future determination date meets that threshold.

If on any non-final determination date NVIDIA’s price is at or above 100% of the initial share price (the call threshold), the notes auto-call and pay back principal plus the applicable coupon and any unpaid coupons; no further payments are made. If the notes are not called and the final share price is below the downside threshold, investors receive principal reduced in proportion to NVIDIA’s decline, potentially less than 50% of principal or zero. Investors do not participate in any upside of the stock, forgo dividends, face limited liquidity, and are fully exposed to BNS credit risk. The estimated value on the pricing date is expected between $935.84 and $965.84 per $1,000.

The Bank of Nova Scotia is offering principal-at-risk Contingent Income Auto-Callable Securities linked to the common stock of The Goldman Sachs Group, Inc. The notes pay a contingent quarterly coupon of $26.25 per $1,000 (equivalent to 10.50% per annum) on each determination date where the Goldman Sachs share price is at or above 70% of the initial share price.

The securities can be automatically called on any non-final determination date if the stock closes at or above 100% of the initial share price, returning principal plus that period’s coupon. If held to December 29, 2028 and the final share price is below the 70% downside threshold, investors are exposed 1-to-1 to the decline in the stock and can lose some or all of their principal. The notes are senior unsecured obligations of BNS, with an estimated initial value between $934.95 and $964.95 per $1,000 issue price.