The Bank of Nova Scotia filed an issuer free writing prospectus on October 29, 2026, disclosing the summary terms of Contingent Income Auto-Callable Securities with Memory Coupon due on or about November 9, 2029, linked to the common stock of ServiceNow, Inc.

Key Highlights

  • Underlying asset: The securities are based on the common stock of ServiceNow, Inc. (Bloomberg Ticker: "NOW UN").
  • Stated principal amount: $1,000.00 per security, with a minimum investment of $1,000 (1 security).
  • Contingent quarterly coupon: $31.275 per security, equivalent to 12.51% per annum, paid only if the closing price on a determination date is greater than or equal to the downside threshold price.
  • Downside threshold: 50.00% of the initial share price; if the final share price falls below this level, the payment at maturity will be less than 50.00% of the stated principal amount and could be as low as zero.
  • Call threshold: 100.00% of the initial share price; the securities are automatically redeemed early if triggered on any quarterly determination date before the final determination date.
  • Estimated value on pricing date: Expected to be between $922.76 and $952.76 per security.
  • Commission: $22.50 per stated principal amount; the securities will not be listed on any securities exchange or electronic communications network.

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

According to the filing, The Bank of Nova Scotia (the issuer) is offering senior unsecured debt securities under its Senior Note Program, Series A, with a pricing date of November 6, 2026, an original issue date of November 12, 2026, and a maturity date of November 9, 2029. The filing states that all payments on the securities are subject to the credit risk of BNS, and the securities "do not guarantee any return of principal at maturity." The CUSIP is 06419TZ92 and the ISIN is US06419TZ920, filed under Registration Statement No. 333-298611.

The filing describes a memory coupon feature: if the closing price of the underlying stock is below the downside threshold price on one or more prior determination dates, and then meets or exceeds the downside threshold on a subsequent determination date, the contingent quarterly coupon paid on that subsequent date will include all previously unpaid contingent quarterly coupons. The filing notes that "no interest will accrue or be paid on any previously unpaid contingent quarterly coupons." If the closing price remains below the downside threshold on every determination date, the filing states investors "will receive no contingent quarterly coupons during the term of, and will not receive a positive return on, the securities."

The filing provides a hypothetical payout table showing that if no early redemption occurs, the stated principal amount of $1,000.00 is returned at maturity as long as the underlying stock's decline does not exceed 50.00%. A hypothetical decline of 51.00% results in a payment of $490.00, with losses escalating proportionally to a payment of $0.00 at a 100.00% decline. Investors are directed to the preliminary pricing supplement available on the SEC's EDGAR system for full risk factors and complete terms.

What Was Disclosed

The Bank of Nova Scotia disclosed the summary terms of principal-at-risk auto-callable securities linked to ServiceNow common stock, including coupon rates, threshold prices, memory coupon mechanics, estimated value range, commission, and maturity and pricing dates, via an issuer free writing prospectus dated October 29, 2026.