Welcome to our dedicated page for Bank Nova Scotia SEC filings (Ticker: BNS), a comprehensive resource for investors and traders seeking official regulatory documents including 10-K annual reports, 10-Q quarterly earnings, 8-K material events, and insider trading forms.
Bank of Nova Scotia files regulatory documents with the U.S. Securities and Exchange Commission as a foreign private issuer, providing investors and stakeholders with essential information about the bank's financial condition, operations, and governance. These SEC filings offer detailed disclosures that complement the bank's Canadian regulatory reporting obligations and provide transparency for U.S. investors holding Scotiabank securities traded on the New York Stock Exchange.
The primary SEC filings for Scotiabank include Form 40-F, which serves as the annual report for foreign private issuers and contains comprehensive financial statements, management discussion and analysis, and corporate governance information. The bank also files Form 6-K to report material information and interim financial results that the company makes public in Canada or files with Canadian securities regulators. These reports provide U.S. investors with timely access to the same information available to Canadian shareholders, ensuring consistent disclosure across both markets where the bank's shares trade.
Scotiabank's SEC filings contain detailed financial statements prepared in accordance with International Financial Reporting Standards, along with extensive notes that explain accounting policies, risk management practices, and segment performance across Canadian Banking, International Banking, Global Wealth Management, and Global Banking and Markets divisions. The filings include quantitative disclosures about credit risk, market risk, liquidity risk, and operational risk, providing investors with insight into the bank's risk management framework and exposure across different geographies and business lines.
Management's discussion and analysis sections within the filings examine financial performance trends, business segment results, capital adequacy, and strategic priorities. These narrative discussions help investors understand the factors driving the bank's results, management's perspective on operating conditions, and forward-looking information about business plans and anticipated developments. Corporate governance disclosures detail board composition, committee structures, executive compensation, and compliance with applicable governance standards.
For investors analyzing Scotiabank, SEC filings represent essential resources for conducting due diligence, evaluating financial performance, assessing risk exposures, and understanding the bank's business model across its domestic Canadian operations and international banking activities in Latin America, the Caribbean, and other markets.
Bank of Nova Scotia (BNS) is offering unsecured, unsubordinated Digital Notes linked to the worst performer of the S&P 500 Index (SPX) and the Russell 2000 Index (RTY). The preliminary terms call for a two-year tenor, with trade date expected 31 July 2025 and maturity 5 August 2027.
- Payout structure: For each US$1,000 principal amount, investors receive (i) the Maximum Payment Amount—set on the trade date and anticipated to be at least US$1,116.50 (≈ 11.65% digital return)—if the final level of both indices is at or above the respective initial level on the 2 Aug 2027 valuation date; or (ii) exactly US$1,000 if either index finishes below its initial level.
- No interim coupons; all cash flow occurs at maturity. The notes will not list on any U.S. exchange.
- Credit profile: Repayment depends solely on the creditworthiness of The Bank of Nova Scotia; the notes are not insured by CDIC or FDIC.
- Pricing economics: Original issue price is 100%, but the initial estimated value is only US$900–US$940, reflecting the bank’s internal funding rate, a structuring fee, and hedging costs. Underwriting commissions are up to 0.50% of face.
- Denomination & settlement: Minimum investment US$1,000; settlement expected T+3. CUSIP 06418VWU4.
- Risk highlights (per filing): downside participation is zero (principal protected only if held to maturity), upside is capped; secondary market liquidity is uncertain; valuations will incorporate dealer spreads and could be materially below issue price.
Prospective investors should review the extensive risk factors on pages P-14, PS-6 and S-2 of the referenced documents before purchase.
Overview: The Bank of Nova Scotia (BNS) is issuing senior, unsecured Series A Buffered Index-Linked Notes (CUSIP 06418VD27) tied to the price return of the S&P 500 Index. Denominated in $1,000 increments, the notes are expected to price on 30 Jul 2025, settle 4 Aug 2025 (T+3), and mature 4 Nov 2026.
Key Economic Terms:
- No coupons; all value is delivered at maturity.
- Upside: 100 % participation in index gains, capped at the Maximum Upside Payment set on the trade date, expected to be at least $1,090 per $1,000 note (≥ +9%).
- Buffer: If the S&P 500 declines ≤ 10 %, investors receive a positive return equal to the absolute value of that move.
- Downside: Beyond a 10 % fall, investors lose 1 % of principal for every additional 1 % decline, exposing up to 90 % loss of capital.
- Performance is measured only on the valuation date (30 Oct 2026); interim index moves do not affect payout.
Pricing & Distribution: Issue price is 100 %, with underwriting commissions of up to 2 %, resulting in ≥ 98 % net proceeds to BNS. The initial estimated value is $900–$940, below face, reflecting the bank’s internal funding rate, structuring fee and hedging costs, implying an up-front economic cost to investors. Scotia Capital (USA) Inc. and Goldman Sachs & Co. LLC are joint dealers; the notes will not be listed, and any secondary trading will be on a best-efforts basis.
Risk Highlights:
- Credit risk: Payment depends on BNS’s ability to pay; the notes are not CDIC or FDIC insured.
- Market risk: Up to 90 % principal loss if the S&P 500 falls more than 10 %.
- Valuation risk: Secondary price expected to open 6–10 % below issue due to embedded fees; further discounts likely from bid/ask spreads.
- Liquidity risk: No exchange listing; dealer market-making is discretionary.
- Structural complexity: Capped upside and asymmetric downside may not align with traditional equity return expectations.
Investor Considerations: The notes may suit investors comfortable with BNS credit exposure who seek modest, capped equity upside with a 10 % buffer and who can tolerate limited liquidity, no income, and potential large capital loss. Those expecting strong equity rallies or requiring principal protection beyond 10 % downside should evaluate alternatives.
Bank of Nova Scotia announces Market Linked Securities tied to a Defense Basket due July 21, 2028. The securities offer upside participation to a cap with partial principal protection. Key features include:
- Face amount of $1,000 per security with 90% principal protection ($900 minimum payment)
- Linked to an equally-weighted basket of defense stocks: Lockheed Martin (33.34%), Northrop Grumman (33.33%), and RTX Corporation (33.33%)
- Maximum return capped at at least 40% ($1,400 per security)
- 100% upside participation rate up to the cap
- Estimated value between $925.48-$955.48 per $1,000 face amount
Notable risks include: potential 10% principal loss, no periodic interest payments, limited returns due to cap, credit risk of the Bank, and sector concentration in defense industry. The securities will be distributed through Scotia Capital USA and Wells Fargo Securities with selling concessions up to 2.00%.
Bank of Nova Scotia has announced Buffered Enhanced Participation Notes linked to the performance of iShares MSCI EAFE ETF and EURO STOXX 50 Index, due August 5, 2027. The notes offer:
- Principal amount of $1,000 per note
- Participation rate expected at minimum 168.00% on positive performance
- 10% downside buffer protection
- No interest payments during the term
Returns are based on the least performing of the two reference assets. If both assets perform above initial levels, investors receive enhanced upside participation. If any asset declines up to 10%, principal is protected. Beyond 10% decline, investors lose 1% for each 1% decline, with maximum loss of 90% of principal.
Initial estimated value between $900-$940 per $1,000 principal amount, below issue price. Notes involve credit risk of Bank of Nova Scotia and are not CDIC or FDIC insured. Trading begins July 31, 2025, with maturity on August 5, 2027.
Bank of Nova Scotia has filed a preliminary pricing supplement for Market Linked Securities due July 21, 2028, linked to a defense sector basket. The securities are tied to an equally-weighted basket of Lockheed Martin (33.34%), Northrop Grumman (33.33%), and RTX Corporation (33.33%).
Key features include:
- Original offering price of $1,000 per security with 90% principal protection
- Upside participation rate of 100% with maximum return capped at minimum 40%
- 1-to-1 downside exposure for first 10% decrease in basket value
- No periodic interest payments or dividends
- Estimated value between $925.48-$955.48 per security
Distribution will be through Scotia Capital (USA) Inc. and Wells Fargo Securities, with agent discount up to $28.25 (2.825%) per security. The securities are senior unsecured obligations of Bank of Nova Scotia and not insured by CDIC or FDIC.
Bank of Nova Scotia has issued $7.67 million in Autocallable Contingent Coupon Trigger Notes linked to AMD stock, due July 30, 2026. The notes offer monthly contingent coupons of $10.959 per $1,000 principal (approximately 13.15% per annum) if AMD's stock price remains at or above 60% of the initial price of $143.40.
Key features include:
- Automatic call feature starting December 2025 if AMD stock closes at or above initial price
- Principal at risk if final price falls below 60% of initial price
- Initial estimated value of $975.41 per $1,000 principal amount
- Monthly observation dates from July 2025 through July 2026
The notes involve significant risks including potential loss of principal, credit risk of Bank of Nova Scotia, and market risk related to AMD stock performance. The initial estimated value is less than the issue price, reflecting underwriting commissions of 2.15% and the bank's internal funding rate.
Bank of Nova Scotia has issued $26.46 million in Buffer Autocallable GEARS, due June 29, 2028, linked to an unequally weighted basket of global equity indices. The securities are tied to: EURO STOXX 50 (40%), Nikkei 225 (25%), FTSE 100 (17.50%), Swiss Market Index (10%), and S&P/ASX 200 (7.50%).
Key features include:
- Automatic call feature if basket level meets/exceeds autocall barrier (100% of initial level)
- 11% call return rate if automatically called
- 1.77x upside gearing for positive basket returns if not called
- 10% downside buffer protection
- Principal at risk if basket declines beyond 10% buffer
The initial estimated value is $9.629 per security, below the $10 issue price. Securities are being sold through Scotia Capital USA and UBS Financial Services. These notes involve significant risks including possible loss of principal and are not CDIC or FDIC insured.
Bank of Nova Scotia has issued Market Linked Securities due June 29, 2028, linked to the lowest performing stock among Dell Technologies, Intel Corporation, and Eli Lilly and Company. The securities are being offered at $1,000 per unit with total offering of $2,385,000.
Key features include:
- Auto-Call Feature: Securities automatically redeem after one year if lowest performing stock is at/above starting price, paying 50% premium ($500 per unit)
- Maturity Payment: If not called, offers 350% upside participation if lowest performing stock rises; full principal at risk below 50% threshold
- Starting Prices: Dell ($125.98), Intel ($22.50), Eli Lilly ($795.12)
- Estimated Value: $950.67 per security (95.067% of offering price)
The securities involve significant risks including potential loss of principal, no periodic payments, and dependence on the worst-performing of three stocks. All payments subject to Bank of Nova Scotia's credit risk.
Bank of Nova Scotia has issued $14,241,020 in Capped Buffer GEARS linked to the S&P 500® Index, due July 1, 2027. These structured notes offer enhanced exposure to S&P 500 performance with key features:
- Enhanced Returns: 2.00x upside participation up to a maximum gain of 18.06% ($11.806 per $10 security)
- Downside Protection: 10% buffer against losses, with 1:1 loss exposure below 90% of initial index level (5,526.92)
- Initial Terms: Initial index level at 6,141.02, with $10 per security pricing and minimum investment of $1,000
The securities are senior unsecured obligations of Bank of Nova Scotia, not CDIC or FDIC insured. Initial estimated value is $9.708 per security, below the $10 issue price. Investors face credit risk and could lose substantial investment if index falls significantly or issuer defaults. Scotia Capital USA and UBS Financial Services are serving as agents.
FAQ
What is the current stock price of Bank Nova Scotia (BNS)?
What is the market cap of Bank Nova Scotia (BNS)?
