加拿大丰业银行美股招股说明书(2025-12-18版)

The notes offered by this pricing supplement (the “Notes”) are unsubordinated and unsecured debt securities of The Bank of NovaScotia (the “Bank”) and any payments on the Notes are subject to the credit risk of the Bank ￭The Notes will be automatically called if the Closing Value of the shares of the SPDR®S&P 500®ETF Trust (the “Reference Asset”)on any Observation Date prior to the final Observation Date (which is also the “Final Valuation Date”) is equal to or greater than theInitial Value. No further amounts will be owed on the Notes.￭If the Notes have not been automatically called and the Closing Value on any Observation Date is equal to or greater than 95.00% ofthe Initial Value (the “Contingent Coupon Barrier Value”), the Notes will pay a Contingent Coupon of $10.875 with respect to suchdate, plus any Unpaid Contingent Coupons (defined below) that have accrued and have not already been paid on a previousContingent Coupon Payment Date￭If the Notes have not been automatically called and the Closing Value on any Observation Date prior to the Final Valuation Date isless than the Contingent Coupon Barrier Value, the Contingent Coupon with respect to such Observation Date will not be payable onthe related Contingent Coupon Payment Date and will become an “Unpaid Contingent Coupon” and will be paid on the next All payments on the Notes will be made in cash.Any payment on your Notes is subject to the creditworthiness of the Bank.Investment in the Notes involves certain risks. You should refer to “Additional Risks” beginning on page P-10 of this pricingsupplement and “Additional Risk Factors Specific to the Notes” beginning on page PS-6 of the accompanying product supplement The initial estimated value of your Notes on the Trade Date is expected to be between $964.65 and $994.65per $1,000 PrincipalAmount, which will be less than the Original Issue Price of your Notes listed below.See “Additional Information Regarding EstimatedValue of the Notes” on the following page and “Additional Risks—Risks Relating to Estimated Value and Liquidity” beginning on page P-13 ofthis document for additional information. The actual value of your Notes at any time will reflect many factors and cannot be predicted with Notes to J.P. Morgan Securities LLC (“JPMS”). JPMS and its affiliates will act as placement agents for the Notes (together with SCUSA, the “Agents”). Theplacement agents will receive a fee of 0.10% per Note, but will forgo fees for sales to fiduciary accounts. The total fees represent the amount that theplacement agents receive from sales to accounts other than fiduciary accounts. Neither the United States Securities and Exchange Commission (the “SEC”) nor any state securities commission has approved or disapproved of theNotes or passed upon the accuracy or the adequacy of this pricing supplement, the accompanying product supplement, underlier supplement,prospectus supplement or prospectus. Any representation to the contrary is a criminal offense.The Notes are not insured by the Canada Deposit Insurance Corporation (the “CDIC”) pursuant to the Canada Deposit Insurance Corporation Act (the “CDIC Act”) or the U.S. Federal Deposit Insurance Corporation (the “FDIC”) or any other government agency of Canada, the United States or anyother jurisdiction. The Notes offered hereunder are unsubordinated and unsecured obligations of the Bank and are subject to investment risksincluding the credit risk of the Bank. As used in this pricing supplement, the “Bank,” “we,” “us” or “our” refers to The Bank of NovaScotia. The Notes will not be listed on any U.S. securities exchange or automated quotation system. The Notes are derivative products based on the price return of the Reference Asset. All payments on the Notes will be made incash. The Notes do not constitute a hypothetical direct investment in any of the shares, units or other securities represented bythe Reference Asset. By acquiring the Notes, you will not have a direct economic or other interest in, claim or entitlement to, orany legal or beneficial ownership of, any such share, unit or security and will not have any rights as a shareholder, unitholder or As described on the cover of this pricing supplement, JPMS and its affiliates will act as the placement agents for the Notes. Ouraffiliate, SCUSA, may use the final pricing supplement to which this preliminary pricing supplement relates in market-makingtransactions in the Notes after their initial sale. Unless we, SCUSA or another of our affiliates selling such Notes to you informsyouotherwise in the confirmation of sale,this pricing supplement is being used in a market-making transaction.See Additional Information Regarding Estimated Value of the Notes On the cover page of this pricing supplement, the Bank has provided the initial estimated value range for the Notes. This range ofinitial estimated values was determined by reference to the Bank’s internal pricing models, which take into consideration certainfact