The Bank of Nova Scotia filed a free writing prospectus on November 12, 2026, disclosing the term sheet for Market Linked Securities callable with contingent coupon and contingent downside, linked to the lowest performing of three equity indexes and due November 25, 2030.

Key Highlights

  • Linked indexes: Securities are tied to the Nasdaq-100 Technology Sector Index, the Russell 2000 Index, and the S&P 500 Index, with payouts determined by the lowest performing of the three.
  • Contingent coupon rate: At least 10.50% per annum, to be determined on the pricing date of November 20, 2026, paid quarterly if the lowest performing index closes at or above 70.00% of its starting level on the relevant calculation day.
  • Downside threshold: Set at 60.00% of each index's starting level; if the lowest performing index falls below this level at maturity, investors will lose more than 40.00%, and possibly all, of the $1,000 face amount per security.
  • Optional redemption: The Bank may redeem the securities in whole but not in part, quarterly beginning approximately six months after the issue date, from May 2027 through August 2030.
  • Estimated value at pricing: The Bank's estimated value of the securities would be between $930.14 (93.014%) and $960.14 (96.014%) per security if the securities priced on the filing date.
  • Agent discounts: Wells Fargo Securities, LLC will receive a discount of up to 1.825%; dealers including Wells Fargo Advisors, LLC will receive a selling concession of up to 1.25%, and Wells Fargo Advisors may receive a distribution expense fee of 0.075%.
  • CUSIP / ISIN: 06419UDD4 / US06419UDD46.

Structure and Key Terms of the Bank of Nova Scotia's 2030 Linked Securities

According to the filing, The Bank of Nova Scotia is offering Market Linked Securities under its Senior Note Program, Series A, with a face amount of $1,000 per security and denominations of $1,000 and any integral multiple of $1,000. The pricing date is scheduled for November 20, 2026, and the issue date for November 25, 2026, both subject to change. The stated maturity date is November 25, 2030. Scotia Capital Inc., an affiliate of the Bank, is designated as the calculation agent.

The filing discloses that contingent coupon payments will be made quarterly, calculated as ($1,000 multiplied by the contingent coupon rate) divided by 4, but only if the closing level of the lowest performing index on the related calculation day is greater than or equal to its coupon threshold level of 70.00% of its starting level. The filing states that investors "may receive no coupon payments on one or more contingent coupon payment dates, or even throughout the entire term of the securities." At maturity, if the Bank has not redeemed the securities and the lowest performing index's ending level is at or above its downside threshold level of 60.00% of its starting level, investors receive $1,000 per security. If the ending level falls below that threshold, the maturity payment equals $1,000 multiplied by the performance factor of the lowest performing index on the final calculation day.

The filing identifies multiple risk considerations, including that the securities "are subject to the full risks of each Index and will be negatively affected if any Index performs poorly, even if another Index performs favorably." The filing also notes that "the inclusion of dealer spread and projected profit from hedging in the original offering price is likely to adversely affect secondary market prices," and that the securities "lack liquidity." The filing specifies that the securities are not bank deposits and are not insured or guaranteed by the FDIC or any other governmental agency. Investors are directed to review the preliminary pricing supplement, product supplement, underlier supplement, prospectus supplement, and prospectus for complete information.

What Was Disclosed

The Bank of Nova Scotia filed a term sheet free writing prospectus on November 12, 2026, detailing the structure, coupon conditions, downside thresholds, optional redemption terms, estimated value range, and risk considerations for a series of equity index linked securities due November 25, 2030.