The Bank of Nova Scotia filed a free writing prospectus on November 9, 2026, disclosing terms of Market Linked Securities that are auto-callable and linked to the lowest performing of three equity indices, with a stated maturity date of November 15, 2029.

Key Highlights

  • Three linked indices: The securities are linked to the Russell 2000 Index, the S&P 500 Index, and the EURO STOXX 50 Index, with payouts determined by the lowest performing of the three.
  • Face amount: $1,000 per security, with denominations in $1,000 and any integral multiple of $1,000.
  • Call premium schedule: At least 16.75% of face amount (at least $1,167.50 per security) if called on November 16, 2027; at least 33.50% (at least $1,335.00) if called on November 16, 2028; at least 50.25% (at least $1,502.50) if called on November 12, 2029.
  • Threshold level: 80.00% of each index's starting level, below which investors may lose more than 20%, and possibly all, of the face amount at maturity.
  • Estimated value at pricing: Between $923.84 and $953.84 per security if the securities had priced on November 9, 2026, according to the filing.
  • No periodic interest: The filing states that no periodic interest will be paid on the securities.
  • CUSIP / ISIN: 06419UCM5 / US06419UCM53.

Terms and Structure of the Bank of Nova Scotia's 2029 Auto-Callable Securities

According to the filing, the Bank of Nova Scotia is offering principal-at-risk securities under its Senior Note Program, Series A, with a pricing date of November 10, 2026, and an issue date of November 16, 2026. The securities are described as "Market Linked Securities - Auto-Callable with Contingent Downside" and are filed pursuant to Rule 433 under Registration No. 333-298611. Scotia Capital (USA) Inc. and Wells Fargo Securities, LLC are named as agents, with Wells Fargo Securities receiving a discount of up to 2.575%. Wells Fargo Advisors, LLC may receive a selling concession of up to 2.00% and a distribution expense fee of 0.075%.

The filing discloses that if the closing level of the lowest performing index on any call date is greater than or equal to its starting level, the securities will be automatically called at face amount plus the applicable call premium. If the securities are not called and the ending level of the lowest performing index falls below the 80.00% threshold level on the final calculation day, the maturity payment will equal $1,000 multiplied by the performance factor of the lowest performing index. The filing states: "if the ending level of the lowest performing Index on the final calculation day is less than its threshold level: $1,000 x performance factor of the lowest performing Index on the final calculation day." The calculation agent is disclosed as Scotia Capital Inc., an affiliate of the Bank.

The filing identifies multiple risk factors, including that the estimated value of the securities is lower than the original offering price, that the securities lack liquidity, and that the return is limited to the call premium regardless of how much any index appreciates above its starting level. The filing also notes that the EURO STOXX 50 Index will not be adjusted for changes in exchange rates related to the U.S. dollar, and that the securities are not bank deposits and are not insured or guaranteed by the FDIC or any other governmental agency.

What Was Disclosed

The Bank of Nova Scotia disclosed a free writing prospectus for auto-callable, principal-at-risk securities linked to three equity indices, maturing November 15, 2029, with a face amount of $1,000, a threshold level of 80.00%, and an estimated value between $923.84 and $953.84 per security at pricing.