The Bank of Nova Scotia filed a free writing prospectus on November 6, 2026, disclosing terms for Market Linked Securities auto-callable with contingent coupon and contingent downside linked to the lowest performing of Amazon.com, Alphabet, Microsoft, and NVIDIA, due November 15, 2029.

Key Highlights

  • Contingent coupon rate: At least 18.00% per annum, to be determined on the pricing date of November 11, 2026, paid monthly only if the lowest performing stock closes at or above 60.00% of its starting price on the relevant calculation day.
  • Face amount: $1,000 per security, with denominations in $1,000 and any integral multiple of $1,000.
  • Auto-call feature: Securities will be automatically called if the lowest performing stock closes at or above its starting price on any monthly calculation day from November 2027 through October 2029; no call is possible before the twelfth calculation day.
  • Downside threshold: 60.00% of each Underlying Stock's starting price; if the lowest performer falls below this level at final calculation, investors are exposed to the full percentage decline from the starting price.
  • Estimated value at pricing: Between $907.71 (90.771%) and $937.71 (93.771%) per security, below the $1,000 original offering price, according to the filing.
  • CUSIP / ISIN: 06419UCA1 / US06419UCA16; agents are Scotia Capital (USA) Inc. and Wells Fargo Securities, LLC, with WFS receiving a discount of up to 2.575%.
  • Principal at risk: According to the filing, if not called and the lowest performer ends below the downside threshold, investors "will lose more than 40.00%, and possibly all, of the face amount."

Terms and Risk Structure of the Bank of Nova Scotia's November 2026 Equity Linked Securities

According to the filing, The Bank of Nova Scotia is offering Senior Note Program, Series A securities under Registration No. 333-298611. The securities are priced at $1,000 per unit and are linked to the lowest performing of four Underlying Stocks: the common stock of Amazon.com, Inc., the Class A common stock of Alphabet Inc., the common stock of Microsoft Corporation, and the common stock of NVIDIA Corporation. The pricing date is scheduled for November 11, 2026, and the issue date for November 16, 2026, both subject to change.

The filing discloses that monthly contingent coupon payments, calculated as ($1,000 multiplied by the contingent coupon rate) divided by 12, are paid only when the lowest performing Underlying Stock closes at or above its coupon threshold price, set at 60.00% of the starting price, on the applicable calculation day. The filing states that investors "may receive no coupon payments on one or more contingent coupon payment dates, or even throughout the entire term of the securities." Calculation days run monthly from December 2026 through November 2029, with the final calculation day expected to be November 12, 2029.

At maturity, if the securities have not been called and the ending price of the lowest performing stock is below the 60.00% downside threshold, the maturity payment equals $1,000 multiplied by the performance factor of the lowest performer, exposing investors to the full decline. The filing notes the Bank's estimated value is lower than the original offering price because it includes dealer spread and projected profit from hedging. Scotia Capital Inc., an affiliate of the Bank, is designated as calculation agent. The filing directs investors to the preliminary pricing supplement for full tax and risk details.

What Was Disclosed

The Bank of Nova Scotia filed a free writing prospectus describing auto-callable, contingent coupon securities linked to four large-cap stocks, with a stated maturity of November 15, 2029, a minimum contingent coupon rate of 18.00% per annum, a 60.00% downside threshold, and an estimated value of $907.71 to $937.71 per $1,000 security.