The Bank of Nova Scotia filed a free writing prospectus on November 9, 2026, disclosing terms for a structured note linked to the Class A common stock of Alphabet Inc., with a stated maturity date of November 15, 2029.

Key Highlights

  • Underlying asset: The securities are linked to the Class A common stock of Alphabet Inc. (Bloomberg Ticker: GOOGL), according to the filing.
  • Contingent coupon rate: At least 10.00% per annum, to be determined on the pricing date of November 11, 2026.
  • Face amount: $1,000 per security, with denominations in $1,000 and any integral multiple of $1,000.
  • Coupon and downside threshold price: Both set at 70.00% of the starting price.
  • Estimated value: The Bank disclosed that if the securities priced on the filing date, the estimated value would be between $935.36 (93.536%) and $965.36 (96.536%) per $1,000 face amount.
  • Auto-call feature: Securities may be automatically called on any monthly calculation day from February 2027 to October 2029, inclusive, if the stock closing price is greater than or equal to the starting price.
  • CUSIP / ISIN: 06419UCL7 / US06419UCL70.

Structured Note Terms: Auto-Call, Contingent Coupons, and Principal Risk

According to the filing, The Bank of Nova Scotia is offering Market Linked Securities under its Senior Note Program, Series A, registered under Registration No. 333-298611. The securities are priced at $1,000 per security and are set to mature on November 15, 2029. The pricing date is November 11, 2026, and the issue date is November 16, 2026. The calculation agent is Scotia Capital Inc., an affiliate of the Bank. Agents for distribution include Scotia Capital (USA) Inc. and Wells Fargo Securities, LLC.

The filing states that a contingent coupon is paid monthly - calculated as ($1,000 multiplied by the contingent coupon rate) divided by 12 - but only if the stock closing price of Alphabet Inc.'s Class A common stock on the relevant monthly calculation day is greater than or equal to the coupon threshold price, which is 70.00% of the starting price. If the stock closes below that threshold on a given calculation day, no coupon is paid for that period. Calculation days are scheduled monthly on the 11th of each month, commencing December 2026 through November 2029.

The filing discloses that if the securities are not automatically called and the ending price on the final calculation day is less than the downside threshold price of 70.00% of the starting price, the maturity payment equals $1,000 multiplied by the performance factor (ending price divided by starting price). The filing states that in this scenario investors "will lose more than 30.00%, and possibly all, of the face amount." The filing further notes that 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 Wells Fargo Advisors, LLC may receive a distribution expense fee of 0.075%.

What Was Disclosed

The Bank of Nova Scotia filed a free writing prospectus disclosing the preliminary terms of an auto-callable, contingent coupon structured note linked to Alphabet Inc. Class A common stock, maturing November 15, 2029, with a face amount of $1,000 per security and a contingent coupon rate of at least 10.00% per annum.