The Bank of Nova Scotia filed an Issuer Free Writing Prospectus on November 12, 2026, disclosing terms for Enhanced Trigger Jump Securities due on or about June 5, 2028, linked to the common stock of Palantir Technologies Inc.

Key Highlights

  • Issuer and structure: The Bank of Nova Scotia is issuing senior unsecured debt securities under its Senior Note Program, Series A, with a stated principal amount of $1,000.00 per security.
  • Fixed upside payment: If the final share price is at or above the trigger level at maturity, investors receive $1,000.00 plus a fixed upside payment of $310.00 per security (31.00% of stated principal).
  • Trigger level: The trigger level is set at 60.00% of the initial share price, meaning the underlying stock can fall up to 40.00% before principal loss occurs.
  • Principal at risk: If the final share price falls below the trigger level, investors lose 1% of principal for every 1% decline from the initial share price, with the potential to lose all of their investment.
  • Estimated value at pricing: The estimated value on the pricing date is expected to be between $936.46 and $966.46 per security, below the $1,000.00 issue price.
  • Key dates: The pricing date is November 30, 2026; original issue date is December 3, 2026; valuation date is May 31, 2028; and maturity date is June 5, 2028.
  • No listing or coupon: The securities will not be listed on any securities exchange or electronic communications network, and no coupon or interest payments will be made.

Bank of Nova Scotia's Palantir-Linked Structured Note: Terms and Risks

According to the filing, The Bank of Nova Scotia (NYSE:BNS) is offering Enhanced Trigger Jump Securities linked to the common stock of Palantir Technologies Inc. (Bloomberg Ticker: "PLTR UW") under Registration Statement No. 333-298611. The securities carry a stated principal amount and issue price of $1,000.00 each, with a minimum investment of $1,000.00 (1 security). A commission of $25.00 per stated principal amount applies. The filing notes there is no affiliation between BNS and Palantir Technologies Inc.

The payout structure disclosed in the filing is binary at maturity. If the final share price on the valuation date of May 31, 2028, is greater than or equal to 60.00% of the initial share price, the investor receives $1,310.00 per security. The filing states that "the potential positive return on the securities is fixed and limited to the fixed upside payment, regardless of whether or the extent to which the final share price exceeds the initial share price." If the final share price falls below the trigger level, the investor receives $1,000.00 plus the product of $1,000.00 and the underlying return, which is calculated as (final share price minus initial share price) divided by the initial share price. Under a hypothetical scenario of a 100% decline, the payment at maturity would be $0.00.

The filing identifies several risk categories investors are directed to review in the preliminary pricing supplement. These include the risk of significant loss at maturity, limited liquidity, the fact that BNS's initial estimated value will be lower than the issue price, and uncertain tax treatment. The filing also discloses that payments on the securities are subject to the credit risk of BNS, and that hedging activities by BNS and its affiliate SCUSA "may negatively impact investors in the securities." The CUSIP for the securities is 06419UEP6 and the ISIN is US06419UEP66.

What Was Disclosed

The Bank of Nova Scotia filed an Issuer Free Writing Prospectus describing the terms of principal-at-risk structured notes linked to Palantir Technologies Inc. common stock, with a fixed upside of 31.00%, a 60.00% trigger level, and a maturity date of June 5, 2028.