加拿大丰业银行美股招股说明书(2025-10-28版)

Filed Pursuant to Rule 424(b)(2)Registration No. 333-282565 The Bank of Nova Scotia The notes will not bear interest.The amount that you will be paid on your notes at maturity (expected to be December 1, 2027) isbased on the performance of the least performing of the Russell 2000®Index and the S&P 500®Index(each, a “reference asset”) asmeasured from the trade date (expected to be November 26, 2025) to and including the valuation date (expected to be November 26,2027). If the final level ofeachreference asset on the valuation date is greater than or equal its initial level (set on the trade date and will be theclosing level or an intra-day level of such reference asset on the trade date, which may be higher or lower than its closing level on thetrade date), you will receive the maximum payment amount (set on the trade date and expected to be at least $1,105.00 for each $1,000principal amount of your notes). If the final level ofanyreference asset isless thanits initial level, the return on your notes will be zeroand you will only receive the principal amount of your notes.Any payment on your notes is subject to the creditworthiness of TheBank of Nova Scotia. The amount that you will be paid on your notes at maturity is based on the performance of the least performing reference asset, which isthe reference asset with the lowest reference asset return. The reference asset return of each reference asset is the percentage increaseor decrease from its initial level to its final level. At maturity, for each $1,000 principal amount of your notes, you will receive an amount incash equal to: ●if the final level ofeachreference asset isgreater thanorequal toits initial level (the reference asset return ofeachreference assetiszero or positive), the maximum payment amount; or●if the final level ofanyreference asset isless thanits initial level (the reference asset return ofanyreference asset isnegative),$1,000. Following the determination of the initial levels, the amount you will be paid on your notes at maturity will not be affected by the closinglevel of any reference asset on any day other than the valuation date.In addition, no payments on your notes will be made prior tomaturity. Investment in the notes involves certain risks. You should refer to “Additional Risks” beginning on page P-14 of this pricingsupplement and “Additional Risk Factors Specific to the Notes” beginning on page PS-6 of the accompanying productsupplement and “Risk Factors” beginning on page S-2 of the accompanying prospectus supplement and on page 8 of theaccompanying prospectus. The initial estimated value of your notes at the time the terms of your notes are set on the trade date is expected to be between$900.00 and $930.00 per $1,000 principal amount, which will be less than the original issue price of your notes listed below.See“Additional Information Regarding Estimated Value of the Notes” on the following page and “Additional Risks” beginning on page P-14 ofthis document for additional information. The actual value of your notes at any time will reflect many factors and cannot be predicted withaccuracy. 1For additional information regarding the fees comprising the underwriting commissions, see “Supplemental Plan of Distribution(Conflicts of Interest)” herein. Neither the United States Securities and Exchange Commission (the “SEC”) nor any state securities commission has approvedor disapproved of the notes or passed upon the accuracy or the adequacy of this pricing supplement, the accompanyingprospectus, prospectus supplement, underlier supplement or product supplement. Any representation to the contrary is acriminal offense. The notes are not insured by the Canada Deposit Insurance Corporation (the “CDIC”) pursuant to the Canada DepositInsurance Corporation Act (the “CDIC Act”) or the U.S. Federal Deposit Insurance Corporation or any other government agencyof Canada, the United States or any other jurisdiction. Scotia Capital (USA) Inc. Goldman Sachs & Co. LLC Dealer Pricing Supplement datedNovember, 2025 The Digital Notes Linked to the Least Performing of the Russell 2000®Index and the S&P 500®IndexDue December 1, 2027 (the“notes”) offered hereunder are unsubordinated and unsecured obligations of The Bank of Nova Scotia (the “Bank”) and aresubject to investment risks and the credit risk of the Bank. As used in this pricing supplement, the “Bank,” “we,” “us” or “our” refersto The Bank of Nova Scotia. The notes will not be listed on any U.S. securities exchange or automated quotation system. The return on your notes will relate to the price return of the least performing reference asset and will not include a total return ordividend component. The notes are derivative products based on the performance of the least performing reference asset. Thenotes do not constitute a direct investment in any of the respective shares, units or other securities represented by any referenceasset. By acquiring the notes, you will not have