The Bank of Nova Scotia filed a free writing prospectus on November 10, 2026, disclosing terms for Market Linked Securities auto-callable with contingent coupon tied to the common stock of Dell Technologies Inc., due November 16, 2029, under Registration No. 333-298611.

Key Highlights

  • Underlying asset: Securities are linked to the common stock of Dell Technologies Inc. (Bloomberg Ticker: DELL).
  • Contingent coupon rate: At least 21.25% per annum, to be determined on the pricing date of November 13, 2026.
  • Face amount: $1,000 per security, with denominations of $1,000 and any integral multiple thereof.
  • Coupon and downside threshold prices: Both set at 50.00% of the starting price.
  • Estimated value at pricing: Between $919.45 (91.945%) and $949.45 (94.945%) per $1,000 face amount, according to the filing.
  • CUSIP / ISIN: 06419UDF9 / US06419UDF93.
  • Agent discount: Wells Fargo Securities, LLC will 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%.

Structure and Key Terms of the Dell-Linked Securities

According to the filing, The Bank of Nova Scotia is offering Principal at Risk Securities under its Senior Note Program, Series A. The securities carry a contingent coupon payable monthly, calculated as ($1,000 multiplied by the contingent coupon rate) divided by 12, but only if the stock closing price of the underlying Dell Technologies stock on the relevant calculation day equals or exceeds the coupon threshold price, set at 50.00% of the starting price. The filing also discloses a memory feature: if one or more coupon payments are missed because the stock closed below the threshold, those unpaid amounts accumulate and are paid on the next calculation day when the threshold is met.

The securities are subject to automatic call beginning with the third calculation day, approximately three months after the issue date, through October 2029. The filing states that if the stock closing price on any calculation day from February 2027 to October 2029, inclusive, is greater than or equal to the starting price, the securities will be automatically called at face amount plus any contingent coupon payments due. The stated maturity date is November 16, 2029, subject to postponement, with an expected issue date of November 18, 2026.

The filing warns that if the securities are not automatically called and the ending price is less than the downside threshold price of 50.00% of the starting price, investors "will lose more than 50.00%, and possibly all, of the face amount." The filing further states that any return is limited to contingent coupon payments and that investors "will not participate in any appreciation of the Underlying Stock." Scotia Capital Inc., an affiliate of the Bank, is named as calculation agent. The Bank's estimated value of the securities is stated to be lower than the original offering price, reflecting inclusion of dealer spread and projected hedging profit.

What Was Disclosed

The Bank of Nova Scotia disclosed a free writing prospectus for auto-callable, contingent coupon securities linked to Dell Technologies Inc. common stock, with a face amount of $1,000, a contingent coupon rate of at least 21.25% per annum, and a stated maturity of November 16, 2029, under Registration No. 333-298611.