The Bank of Nova Scotia (TSX/NYSE: BNS) filed a 424B2 pricing supplement on July 31, 2026, disclosing the terms of $2,460,000 in Autocallable Contingent Barrier Return Enhanced Notes linked to the EURO STOXX 50 index , with a Maturity date of August 5, 2031.

Key Highlights

  • Total offering size: $2,460,000 at an original issue price of 100.00% per Note, with proceeds to the Bank of $2,398,500.00 after Underwriting commissions.
  • Autocall feature: Notes are automatically called if the EURO STOXX 50 Index closing value on the Review Date equals or exceeds 100% of the Initial Value, paying principal plus a Call Premium of $187.50 (18.75%) per Note.
  • Upside participation: If not called and the Final Value exceeds the Initial Value, holders receive a return equal to 125.00% of the positive performance of the Reference Asset.
  • Barrier protection: If the Final Value is at or above 75.00% of the Initial Value but not above the Initial Value, holders receive the full Principal Amount.
  • Loss risk: If the Final Value falls below the Barrier Value of 75.00% of the Initial Value, holders may lose up to 100% of principal, according to the filing.
  • Initial estimated value: The Bank disclosed an initial estimated value of $961.46 per $1,000 Principal Amount, which the filing states is less than the Original Issue Price.
  • Settlement and term: The Notes settle on August 5, 2026, and carry a term of approximately 5 years if not automatically called prior to maturity.

Bank of Nova Scotia Note Structure, Pricing, and Key Terms

The Bank of Nova Scotia, a Canadian chartered bank issuing under its Senior Note Program, Series A, priced these Notes through its U.S. affiliate Scotia Capital (USA) Inc. (SCUSA). According to the filing, SCUSA agreed to purchase the Notes from the Bank at the Principal Amount and sell them to other registered broker-dealers at a discount of $25.00 (2.50%) per Principal Amount. The Notes carry CUSIP 063941EC8 and ISIN US063941EC85, and are unsubordinated and unsecured Debt obligations of the Bank, meaning payments depend on the Bank's creditworthiness. The Notes will not be listed on any U.S. securities exchange or automated Quotation system, as stated in the pricing supplement.

The filing specifies that the Notes do not bear interest or pay coupons prior to maturity. The minimum Investment is $1,000, in integral multiples of $1,000 above that threshold. The Bank disclosed that the initial estimated value was determined using the Bank's internal pricing models, incorporating its internal funding rate and assumptions about market parameters on the Trade Date of July 31, 2026. The filing notes that the Bank's internal funding rate is typically lower than the rate the Bank would pay for conventional fixed-rate debt, which the filing states "reduces the economic terms of the Notes to you."

The filing also discloses that SCUSA may, in its discretion, effectively reimburse investors a portion of estimated hedging and other costs for a temporary period expected to be approximately 3 months after the Original Issue Date of August 5, 2026. The Bank noted this reimbursement may not be allocated evenly and may be discontinued at any time. The Notes are not insured by the Canada Deposit Insurance Corporation, the U.S. Federal Deposit Insurance Corporation, or any other government agency, according to the filing. The Bank's forward-looking statements are subject to its own cautionary language as detailed in the accompanying product supplement and prospectus.

What Was Disclosed

This 424B2 filing covers the pricing terms, autocall and barrier mechanics, estimated value, underwriting compensation, and risk disclosures for $2,460,000 in structured notes issued by The Bank of Nova Scotia and linked to the EURO STOXX 50 Index. Verified against source; unverifiable items removed.