加拿大丰业银行美股招股说明书(2025-12-23版)

and the Russell 2000®Due December 23, 2027 The notes do not bear interest. The notes will mature on the maturity date (December 23, 2027) unless they are automatically called on the call observation date(December 21, 2026). Your notes will be automatically called on the call observation date if the closing level of each of the Nasdaq-100Index®and the Russell 2000®Index (each, a “reference asset”) is greater than or equal to its initial level (25,346.18 with respect to theNasdaq-100 Index®and 2,529.425 with respect to the Russell 2000®Index (which in each case is the closing level of such referenceasset on the trade date (December 19, 2025))). If your notes are automatically called, you will receive a payment for each $1,000principal amount of your notes on the call payment date (December 24, 2026) equal to (i) $1,000plus(ii) the product of $1,000timesthecall premium amount of 15.00%. If your notes are not automatically called, the amount that you will be paid on your notes at maturity will be based on the performance ofthe least performing reference asset, which is the reference asset with the lowest reference asset return. The reference asset return ofeach reference asset is the percentage increase or decrease from its initial level to its final level, which will be its closing level on the If the final level of each reference asset on the valuation date is greater than its initial level, the return on your notes will be positive andwill equal the participation rate of 250.00%timesthe least performing reference asset return. If the final level of any reference asset isequal to or less than its initial level, but the final level of each reference asset is greater than or equal to 75.00% of its initial level, you willreceive the principal amount of your notes.If the final level of any reference asset is less than 75.00% of its initial level, the returnon your notes will be negative and will equal the reference asset return of the least performing reference asset. Specifically, If your notes are not automatically called on the call observation date, at maturity, for each $1,000 principal amount of your notes, you willreceive an amount in cash equal to: ●if the final level of each reference asset isgreater thanits initial level, thesumof (i) $1,000plus(ii) theproductof (a) $1,000times(b) the least performing reference asset returntimes(c) the participation rate;●if the final level of any reference asset isequal toorless thanits initial level, but the final level of each reference asset isgreaterthanorequal to75% of its initial level, $1,000;or ●if the final level of any reference asset isless than75% of its initial level, thesumof (i) $1,000plus(ii) theproductof (a) $1,000 Investment in the notes involves certain risks. You should refer to “Additional Risks” beginning on page P-15 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 the The initial estimated value of your notes at the time the terms of your notes were set on the trade date was $975.07 per $1,000principal amount, which is less than the original issue price of your notes listed below.See “Additional Information RegardingEstimated Value of the Notes” on the following page and “Additional Risks” beginning on page P-15 of this document for additional 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 a 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. Goldman Sachs & Co. LLC The Autocallable Trigger Notes Linked to the Least Performing of the Nasdaq-100 Index® and the Russell 2000® IndexDue December 23, 2027 (the “notes”) offered hereunder are unsubordinated and unsecured obligations of The Bank ofNova Scotia (the “Bank”) and are subject to investment risks including possible loss of the principal amount invested due tothe negative performance of any of the reference assets and the credit risk of the Bank. As used in this pricing supplement, The return on your notes will relate to the price return of the least performing reference asset and will not include a totalreturn or dividend component. The notes are derivative products based on the performance of the least performingreference asset. The notes do not constitute a direct investment in any of the respective shares, units or other securitiesrepresented by any r