The Bank of Nova Scotia filed a free writing prospectus on November 4, 2026, disclosing terms for Market Linked Securities auto-callable with fixed coupon and contingent downside linked to the lowest performing of four underlying stocks, due November 19, 2029.

Key Highlights

  • Underlying stocks: The securities are linked to the common stock of Amazon.com, Inc., the Class A common stock of Meta Platforms, Inc., the common stock of NVIDIA Corporation, and the Class A common stock of Space Exploration Technologies Corp.
  • Coupon rate: At least 15.25% per annum, to be determined on the pricing date of November 16, 2026, paid monthly at ($1,000 x coupon rate) / 12 per security.
  • Face amount: $1,000 per security, in denominations of $1,000 and any integral multiple of $1,000.
  • Downside threshold: 70.00% of each underlying stock's starting price; if the lowest performing stock falls below this level at maturity, investors may lose more than 30%, and possibly all, of the face amount.
  • Call threshold: 100.00% of each underlying stock's starting price; automatic call is triggered monthly from May 2027 to October 2029 if the lowest performing stock closes at or above its starting price on a call date.
  • Estimated value: If the securities priced on November 4, 2026, the Bank's estimated value would be between $908.98 (90.898%) and $938.98 (93.898%) per security, below the $1,000 original offering price.
  • Agent discounts: 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%.

Terms and Risk Profile of the Bank of Nova Scotia's Linked Securities Due 2029

According to the filing, The Bank of Nova Scotia issued this term sheet under its Senior Note Program, Series A, filed pursuant to Rule 433 and Registration No. 333-298611. The securities are priced at $1,000 per security, with a pricing date of November 16, 2026, and an issue date of November 19, 2029 is also the stated maturity date. Scotia Capital Inc., an affiliate of the Bank, is designated as the calculation agent. The CUSIP is 06419UAR6 and the ISIN is US06419UAR68.

The filing discloses that returns are driven entirely by the lowest performing of the four underlying stocks on each applicable call date or the final calculation day of November 14, 2029. The filing states: "Your Return On The Securities Will Depend Solely On The Performance Of The Underlying Stock That Is The Lowest Performing Underlying Stock On Each Applicable Call Date Or The Final Calculation Day." Investors do not participate in any appreciation of any underlying stock; total return is limited to the sum of coupon payments received. The filing also notes that there is "very limited trading history" for the Class A common stock of Space Exploration Technologies Corp.

The filing identifies multiple risk categories, including credit risk of the Bank, single stock risk, reinvestment risk, and liquidity risk. It discloses that the Bank's estimated value of the securities is lower than the original offering price because the original offering price includes dealer spread and projected profit from hedging. The securities are described as "NOT A BANK DEPOSIT AND NOT INSURED OR GUARANTEED BY THE FDIC OR ANY OTHER GOVERNMENTAL AGENCY." The filing directs investors to the preliminary pricing supplement for full material Canadian and U.S. tax consequences.

What Was Disclosed

The Bank of Nova Scotia disclosed a term sheet for auto-callable, principal-at-risk securities linked to four underlying stocks, maturing November 19, 2029, with a coupon rate of at least 15.25% per annum, a 70.00% downside threshold, and an estimated value between $908.98 and $938.98 per $1,000 security.