The Bank of Nova Scotia filed a free writing prospectus on November 9, 2026, disclosing terms for Market Linked Securities linked to the common stock of NVIDIA Corporation, with a stated maturity date of November 15, 2029, offered under Registration No. 333-298611.

Key Highlights

  • Starting Price: The filing sets the starting price at $181.60, the closing price of NVIDIA Corporation common stock on the strike date of November 5, 2026.
  • Auto-Call Feature: If the NVIDIA stock closing price on the call date (November 17, 2027) is at or above the starting price, the securities are automatically called and investors receive the face amount plus a call premium of at least 23.00% (at least $230.00 per $1,000).
  • Upside Participation: If not called and the ending price exceeds the starting price, investors receive $1,000 plus the product of the underlying stock return and a 150% upside participation rate.
  • Threshold Price: The threshold price is 60% of the starting price; if the ending price falls below this level at maturity, investors bear full downside exposure and may lose more than 40%, and possibly all, of the face amount.
  • Estimated Value: According to the filing, if the securities priced on November 9, 2026, the estimated value would be between $932.08 (93.208%) and $962.08 (96.208%) per $1,000 face amount.
  • 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: The securities are identified as 06419UCT0 / US06419UCT07.

Terms and Structure of the NVIDIA-Linked Securities Offered by The Bank of Nova Scotia

According to the filing, The Bank of Nova Scotia is offering Principal at Risk Securities linked to the common stock of NVIDIA Corporation (Bloomberg Ticker: NVDA) under its Senior Note Program, Series A. The face amount is $1,000 per security, issued in denominations of $1,000 and any integral multiple thereof. The pricing date is expected to be November 12, 2026, and the issue date November 17, 2026, both subject to change. Scotia Capital (USA) Inc. and Wells Fargo Securities, LLC are named as agents.

The filing describes an automatic call feature: if NVIDIA's closing stock price on November 17, 2027 (the call date) is greater than or equal to the $181.60 starting price, the securities are called and investors receive their face amount plus a call premium of at least $230.00 per $1,000. The filing states that if the securities are automatically called, "your return will be limited to the call premium" and investors will not participate in any further appreciation of the underlying stock. The calculation agent is Scotia Capital Inc., an affiliate of the Bank.

If the securities are not automatically called, the maturity payment on November 15, 2029 depends on NVIDIA's ending price relative to the starting price and threshold price. The filing notes that if the ending price on the final calculation day, November 12, 2029, is less than the threshold price (60% of $181.60), investors "will have full downside exposure to the decrease in the price of the Underlying Stock from the starting price and will lose more than 40%, and possibly all, of the face amount." No periodic interest is paid on the securities. The filing references the preliminary pricing supplement for full details on Canadian and U.S. federal income tax consequences, noting that "significant aspects of the tax treatment of the securities are uncertain."

What Was Disclosed

The Bank of Nova Scotia filed a term sheet for auto-callable, equity-linked securities tied to NVIDIA Corporation common stock, maturing November 15, 2029, with a minimum 23.00% call premium, 150% upside participation, a 60% threshold price, and an estimated value between $932.08 and $962.08 per $1,000 face amount.