Registration No. 333-282565 $Contingent Coupon Notes with Memory Coupon Due July 31, 2029Linked to the Least Performing of the Common Stock of Intel Corporation, the Common Stock of Micron Technology, Inc. andthe Common Stock of ServiceNow, Inc. General Any capitalized terms used but not defined in the following bullets have the meaning set forth under “Summary” in this pricing supplement. ■The notes offered by this pricing supplement (the “Notes”) are unsubordinated and unsecured debt securities of The Bank ofNova Scotia (the “Bank”) and any payments on the Notes are subject to the credit risk of the Bank■Payments on the Notes are based on the performance of the common stock of Intel Corporation, the common stock of MicronTechnology, Inc. and the common stock of ServiceNow, Inc. (each a “Reference Asset”), as described below■If the Closing Value of each Reference Asset on any Contingent Coupon Observation Date (as specified in this pricingsupplement) is equal to or greater than its Contingent Coupon Barrier Value, the Notes will pay a Contingent Coupon (as specifiedunder “Summary” below) with respect to such date, plus any Unpaid Contingent Coupons (as defined below) that have accruedand have not already been paid on a previous Contingent Coupon Payment Date■If the Closing Value of any Reference Asset on any Contingent Coupon Observation Date prior to the Final Valuation Date is lessthan its Contingent Coupon Barrier Value, the Contingent Coupon with respect to such Contingent Coupon Observation Date willnot be payable on the related Contingent Coupon Payment Date, will become an “Unpaid Contingent Coupon” and will be paid onthe next Contingent Coupon Payment Date on which a Contingent Coupon otherwise becomes payable (if one occurs)■The Payment at Maturity will be based solely on the performance of the Reference Asset with the lowest percentage change (the“Least Performing Reference Asset”) from its Initial Value to its Final Value■If the Final Value of the Least Performing Reference Asset is equal to or greater than its Barrier Value, you will receive thePrincipal Amount of your Notes on the Maturity Date, in addition to any Contingent Coupon due with respect to the Final ValuationDate and any accrued Unpaid Contingent Coupons that have not yet been paid■If the Final Value of the Least Performing Reference Asset is less than its Barrier Value, you will suffer a loss on the Notes equalto the depreciation of the Least Performing Reference Asset and you may lose up to 100% of the Principal Amount■The Notes do not guarantee interest and you may not receive any Contingent Coupons on the Notes■The Strike Date is expected to be July 28, 2026, the Trade Date is expected to be July 29, 2026 and the Notes are expected tosettle on July 31, 2026 and will have a term of approximately 3 years■Minimum investment of $1,000 and integral multiples of $1,000 in excess thereof■CUSIP / ISIN: 063941BN7 / US063941BN77■See “Summary” beginning on page P-3 herein for additional information 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 herein and“Additional Risk Factors Specific to the Notes” beginning on page PS-6 of the accompanying product supplement and “RiskFactors”beginning on page S-2 of the accompanying prospectus supplement and on page 8 of the accompanyingprospectus. The initial estimated value of your Notes on the Trade Date is expected to be between $910.03 and $940.03 per $1,000Principal Amount, which will be less than the Original Issue Price of your Notes listed below.See “Additional InformationRegarding Estimated Value of the Notes” on the following page and “Additional Risks — Risks Relating to Estimated Value andLiquidity” beginning on page P-12 of this document for additional information. The actual value of your Notes at any time will reflectmany factors and cannot be predicted with accuracy.Per NoteTotal Neither the United States Securities and Exchange Commission (the “SEC”) nor any state securities commission has approved or disapproved of the Notes orpassed upon the accuracy or the adequacy of this pricing supplement, the accompanying product supplement, prospectus supplement or prospectus. Anyrepresentation 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 “CDICAct”) or the U.S. Federal Deposit Insurance Corporation (the “FDIC”) or any other government agency of Canada, the United States or any other jurisdiction. Pricing Supplement dated [•], 2026Scotia Capital (USA) Inc. 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,”