The Bank of Nova Scotia filed a free writing prospectus on November 4, 2026, disclosing the term sheet for Market Linked Securities auto-callable with contingent coupon and memory feature, linked to the lowest performing of Broadcom Inc., Alphabet Inc. (Class A), and NVIDIA Corporation, due November 23, 2029.

Key Highlights

  • Face amount: $1,000 per security, with denominations in multiples of $1,000.
  • Contingent coupon rate: At least 20.10% per annum, to be determined on the pricing date of November 17, 2026.
  • Coupon and downside threshold price: 70.00% of each Underlying Stock's starting price.
  • Automatic call eligibility: Begins at the sixth calculation day, approximately six months after the issue date, with monthly observation from May 2027 through October 2029.
  • Estimated value at pricing: Between $931.80 (93.18%) and $941.80 (94.18%) per security, according to the filing.
  • Agent discounts: Wells Fargo Securities, LLC may receive a discount of up to 2.325%; dealers including Wells Fargo Advisors, LLC may receive a selling concession of up to 1.75% and a distribution expense fee of 0.075%.
  • CUSIP / ISIN: 06419UBM6 / US06419UBM62.

Structure and Risk Profile of the Broadcom, Alphabet, NVIDIA Linked Securities

According to the filing, the securities are issued under The Bank of Nova Scotia's Senior Note Program, Series A, with a stated maturity date of November 23, 2029. The issue date is expected to be November 20, 2026, and the pricing date is November 17, 2026, both subject to change. Scotia Capital (USA) Inc. and Wells Fargo Securities, LLC are named as agents, and Scotia Capital Inc., an affiliate of the Bank, is designated as calculation agent.

The filing discloses that on each monthly calculation day, holders receive a contingent coupon only if the stock closing price of the lowest performing Underlying Stock is greater than or equal to its coupon threshold price, set at 70.00% of its starting price. The memory feature provides that any previously unpaid contingent coupon payments are paid on a subsequent calculation day when the threshold condition is met. Calculation days are scheduled monthly on the 17th of each calendar month from December 2026 through November 2029, with the final calculation day expected to be November 19, 2029.

The filing states that if the securities are not automatically called and the ending price of the lowest performing Underlying Stock on the final calculation day is less than its downside threshold price of 70.00% of its starting price, the maturity payment equals $1,000 multiplied by the performance factor of that lowest performing Underlying Stock. The filing warns that in this scenario, holders "will lose more than 30.00%, and possibly all, of the face amount" of the securities. The filing further states that any return is limited to contingent coupon payments received, and holders "will not participate in any appreciation of any Underlying Stock."

What Was Disclosed

The Bank of Nova Scotia filed a term sheet free writing prospectus disclosing the key terms of auto-callable, principal-at-risk securities linked to Broadcom, Alphabet, and NVIDIA, with a contingent coupon of at least 20.10% per annum, a 70.00% threshold, and a stated maturity of November 23, 2029.