The Bank of Nova Scotia filed a free writing prospectus on November 10, 2026, disclosing terms for principal-at-risk securities linked to the lowest performing of Advanced Micro Devices, Broadcom, and Alphabet Class C stock, with a stated maturity date of November 16, 2029.

Key Highlights

  • Underlying basket: Performance is tied solely to whichever of AMD, AVGO, or GOOG has the lowest return on the applicable measurement date.
  • Auto-call feature: If the lowest performing stock closes at or above 80.00% of its starting price on November 18, 2027, the securities are automatically called and investors receive the face amount plus a call premium of 40.00% ($400.00 per $1,000 security).
  • Upside participation rate: At least 265.00% of the lowest performing stock's return at maturity if that stock finishes above its starting price, to be confirmed on the pricing date.
  • Contingent absolute return: If the lowest performing stock ends between 50.00% and 100.00% of its starting price, investors receive $1,000 plus the absolute value of that stock's return.
  • Full downside risk: If the lowest performing stock ends below 50.00% of its starting price, investors bear full downside exposure and "will lose more than 50.00%, and possibly all, of the face amount."
  • Estimated value at pricing: The Bank disclosed an estimated value of between $896.54 (89.654%) and $926.54 (92.654%) per $1,000 security if priced on November 10, 2026.
  • Dealer compensation: Wells Fargo Securities, LLC will receive a discount of up to 2.575%; dealers including Wells Fargo Advisors may receive a selling concession of up to 2.00% and a distribution expense fee of 0.075%.

Structure and Key Terms of the Bank of Nova Scotia Equity-Linked Securities

According to the filing, The Bank of Nova Scotia is offering Market Linked Securities under its Senior Note Program, Series A, priced at $1,000 per security in denominations of $1,000 and any integral multiple thereof. The securities are issued pursuant to Registration No. 333-298611 and carry CUSIP 06419UDY8 / ISIN US06419UDY82. The pricing date is listed as November 13, 2026, the issue date as November 18, 2026, and the stated maturity date as November 16, 2029, all subject to change as noted in the filing.

The filing describes a single auto-call observation date of November 18, 2027. On that date, if the stock closing price of the lowest performing underlying stock is at or above its call threshold price, which equals 80.00% of its starting price, the securities are redeemed and investors receive the face amount plus the 40.00% call premium. The filing states that if the securities are automatically called, "you will not participate in any appreciation of the lowest performing Underlying Stock, which may be significant," and investors will no longer have the opportunity to participate at the upside participation rate.

If the securities are not called, the maturity payment depends on where the lowest performing stock closes relative to its starting price and threshold price (50.00% of its starting price) on the final calculation day of November 13, 2029. The filing identifies Scotia Capital Inc., an affiliate of the Bank, as the calculation agent. Agents for distribution are listed as Scotia Capital (USA) Inc. and Wells Fargo Securities, LLC. The filing also notes that selected securities dealers may receive a fee of up to $3.00 per security for marketing and other services. The Bank's estimated value being below the $1,000 original offering price reflects the inclusion of dealer spread and projected profit from hedging, according to the filing.

What Was Disclosed

The Bank of Nova Scotia filed a free writing prospectus setting out the full term sheet for principal-at-risk, auto-callable securities linked to AMD, AVGO, and GOOG, including call terms, maturity payment scenarios, estimated value range, and risk considerations, with a maturity of November 16, 2029.