The Bank of Nova Scotia filed a free writing prospectus on November 4, 2026, disclosing a term sheet for Market Linked Securities auto-callable with contingent downside, principal at risk, linked to the lowest performing of Alphabet Inc. Class A common stock, the Nasdaq-100 Index, and the S&P 500 Index, due November 18, 2030.

Key Highlights

  • Face amount: $1,000 per security, with denominations in any integral multiple of $1,000.
  • Pricing and issue dates: Pricing date is November 13, 2026; issue date is November 18, 2026, both subject to change.
  • Call premium rate: At least approximately 32.50% per annum on a simple, non-compounding basis, to be determined on the pricing date.
  • Threshold value: 70.00% of each underlying's starting value; if the lowest performing underlying falls below this level at maturity and no automatic call has occurred, investors may lose more than 30%, and possibly all, of the face amount.
  • Estimated value: If priced on November 4, 2026, the Bank's estimated value would be between $919.44 (91.944%) and $949.44 (94.944%) per security.
  • Agent discounts: Wells Fargo Securities, LLC will receive a discount of up to 2.575%; dealers including Wells Fargo Advisors, LLC may receive a selling concession of up to 2.00% and a distribution expense fee of 0.075%.
  • CUSIP / ISIN: 06419UAU9 / US06419UAU97.

Structure and Key Terms of the Bank of Nova Scotia Auto-Callable Securities

According to the filing, the securities are issued under The Bank of Nova Scotia's Senior Note Program, Series A, and are linked to the lowest performing of three underlyings: the Class A common stock of Alphabet Inc., the Nasdaq-100 Index, and the S&P 500 Index. The performance factor for any underlying on a given call date is defined as its closing value on that date divided by its starting value, expressed as a percentage. The starting value for each underlying is its closing value on the pricing date.

The filing discloses that the securities are subject to automatic call on any call date if the closing value of the lowest performing underlying is greater than or equal to its starting value. Upon an automatic call, investors receive the face amount plus the applicable call premium. The call premium schedule runs from at least 32.50% (at least $1,325.00 per security) on November 18, 2027, increasing in approximately 2.708 percentage point increments each month, up to at least 130.00% of the face amount (at least $2,300.00 per security) on the final calculation day of November 13, 2030. The filing notes that call premiums are to be determined on the pricing date and that the figures listed represent minimums.

If the securities are not automatically called and the ending value of the lowest performing underlying is at or above the threshold value of 70.00% of its starting value, investors receive $1,000 per security at maturity. If the ending value falls below the threshold, the maturity payment equals $1,000 multiplied by the performance factor of the lowest performing underlying, meaning investors are exposed to the full decline. The filing states that no periodic interest will be paid on the securities. Scotia Capital Inc., an affiliate of the Bank, is named as calculation agent, and Scotia Capital (USA) Inc. and Wells Fargo Securities, LLC are named as agents.

What Was Disclosed

The Bank of Nova Scotia disclosed a term sheet for principal-at-risk, auto-callable structured notes due November 18, 2030, linked to the worst performer among Alphabet Class A stock, the Nasdaq-100 Index, and the S&P 500 Index, with a face amount of $1,000, a 70.00% threshold, and an estimated value of $919.44 to $949.44 per security.