# EDGAR Filing Document

**Accession Number:** 0000009631
**File Stem:** 0001839882-25-061532
**Filing Date:** 2025-10
**Character Count:** 14833
**Document Hash:** 9a3f5fc65b401ee90fedd044bd1c0faa
**Contains OCR:** False
**Source Format:** 

## Filing Content

## Filing Summary
**0001839882-25-061532.hdr.sgml**: 20251029

**ACCESSION NUMBER**: 0001839882-25-061532

**CONFORMED SUBMISSION TYPE**: FWP

**PUBLIC DOCUMENT COUNT**: 3

**FILED AS OF DATE**: 20251029

**DATE AS OF CHANGE**: 20251029

**SUBJECT COMPANY**: 

**COMPANY DATA:**
- **COMPANY CONFORMED NAME:** BANK OF NOVA SCOTIA
- **CENTRAL INDEX KEY:** 0000009631
- **STANDARD INDUSTRIAL CLASSIFICATION:** STATE COMMERCIAL BANKS [6022]
- **ORGANIZATION NAME:** 02 Finance
- **EIN:** 134941099
- **STATE OF INCORPORATION:** Z4
- **FISCAL YEAR END:** 1031

**FILING VALUES:**
- **FORM TYPE:** FWP
- **SEC ACT:** 1934 Act
- **SEC FILE NUMBER:** 333-282565
- **FILM NUMBER:** 251430968

**BUSINESS ADDRESS:**
- **STREET 1:** 40 TEMPERANCE STREET
- **CITY:** TORONTO
- **STATE:** A6
- **ZIP:** M5H 0B4
- **BUSINESS PHONE:** (416) 866-3672

**MAIL ADDRESS:**
- **STREET 1:** 40 TEMPERANCE STREET
- **CITY:** TORONTO
- **STATE:** A6
- **ZIP:** M5H 0B4

**FORMER COMPANY:**
- **FORMER CONFORMED NAME:** BANK OF NOVA SCOTIA /
- **DATE OF NAME CHANGE:** 19970702
**FILED BY**: 

**COMPANY DATA:**
- **COMPANY CONFORMED NAME:** BANK OF NOVA SCOTIA
- **CENTRAL INDEX KEY:** 0000009631
- **STANDARD INDUSTRIAL CLASSIFICATION:** STATE COMMERCIAL BANKS [6022]
- **ORGANIZATION NAME:** 02 Finance
- **EIN:** 134941099
- **STATE OF INCORPORATION:** Z4
- **FISCAL YEAR END:** 1031

**FILING VALUES:**
- **FORM TYPE:** FWP

**BUSINESS ADDRESS:**
- **STREET 1:** 40 TEMPERANCE STREET
- **CITY:** TORONTO
- **STATE:** A6
- **ZIP:** M5H 0B4
- **BUSINESS PHONE:** (416) 866-3672

**MAIL ADDRESS:**
- **STREET 1:** 40 TEMPERANCE STREET
- **CITY:** TORONTO
- **STATE:** A6
- **ZIP:** M5H 0B4

**FORMER COMPANY:**
- **FORMER CONFORMED NAME:** BANK OF NOVA SCOTIA /
- **DATE OF NAME CHANGE:** 19970702

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| | |
|:---|:---|
| &nbsp;&nbsp; ![](image1.gif)  | &nbsp;&nbsp; ISSUER FREE WRITING PROSPECTUS |
| &nbsp;&nbsp; ![](image1.gif)  | &nbsp;&nbsp; Filed Pursuant to Rule 433 |
| &nbsp;&nbsp; ![](image1.gif)  | &nbsp;&nbsp; Registration Statement No. 333-282565 |
| &nbsp;&nbsp; ![](image1.gif)  | &nbsp;&nbsp; Dated October 29, 2025 |

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Dual Directional Trigger PLUS Based on the Performance of the Shares of the VanEck<sup>®</sup> Gold Miners ETF due on or about June 3, 2027

**Trigger Performance Leveraged Upside Securities**<sup>SM</sup>

**Principal at Risk Securities**

***This document provides a summary of the terms of the Trigger Performance Leveraged Upside Securities***<sup>SM</sup> ***(the "Dual Directional Trigger PLUS" or "Trigger PLUS"). Investors should carefully review the accompanying preliminary pricing supplement for the Trigger PLUS, the accompanying product supplement, the underlier supplement, the prospectus supplement and the prospectus, as well as the "Risk Considerations" section below, before making an investment decision.***

**The Trigger PLUS do not guarantee any return of principal at maturity and you could lose up to your entire investment. The Trigger PLUS are senior unsecured debt securities issued by The Bank of Nova Scotia ("BNS"), and all payments on the Trigger PLUS are subject to the credit risk of BNS. As used in this document, "we," "us," or "our" refers to BNS.**

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| | |
|:---|:---|
| **SUMMARY TERMS** |  |
| **Issuer:** | The Bank of Nova Scotia  |
| **Issue:** | Senior Note Program, Series A |
| **Underlying shares:** | Shares of the VanEck<sup>®</sup> Gold Miners ETF (Bloomberg Ticker: "GDX UP") (the "fund") |
| **Stated principal amount:** | $1,000.00 per Trigger PLUS |
| **Issue price:** | $1,000.00 per Trigger PLUS |
| **Minimum investment:** | $1,000 (1 Trigger PLUS) |
| **Coupon:** |  |
| **Pricing date:** | November 14, 2025 |
| **Original issue date:** | November 19, 2025 (3 business days after the pricing date; see preliminary pricing supplement). |
| **Valuation date:** | May 28, 2027, subject to postponement for certain market disruption events and as described in the accompanying product supplement. |
| **Maturity date:** | June 3, 2027, subject to postponement for certain market disruption events and as described in the accompanying product supplement. |
| **Payment at maturity per Trigger PLUS:** | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; ￭ If the final share price is **greater than** the initial share price:<br> *$1,000.00 + leveraged upside payment*<br> ***In no event will the payment at maturity from any increase in the value of the underlying shares exceed the maximum upside payment at maturity.***<br> ￭ If the final share price is **less than or equal to** the initial share price but **greater than or equal to** the trigger price:<br> *$1,000.00 + ($1,000.00 × absolute underlying return)*<br> ***In this scenario, you will receive a 1% positive return on the Trigger PLUS for each 1% negative return on the underlying shares. In no event will this amount exceed the stated principal amount plus $200.00. You will not benefit from the leverage feature in this scenario.*** <br> ￭ If the final share price is **less than** the trigger price:<br> *$1,000.00 + ($1,000.00 × underlying return)*<br> ***If the final share price is less than the trigger price, you will lose 1% for every 1% that the final share price falls below the initial share price and you could lose up to your entire investment in the Trigger PLUS.***  |
| **Underlying return:** | (final share price – initial share price) / initial share price  |
| **Absolute underlying return:** | The absolute value of the underlying return. For example, a -5% underlying return will result in a +5% absolute underlying return. |
| **Upside leverage factor:** | 200% |
| **Leveraged upside payment:** | $1,000.00 × upside leverage factor × underlying return |
| **Maximum upside gain:** | 40.15% |
| **Maximum upside payment at maturity:** | $1,401.50 per Trigger PLUS (140.15% of the stated principal amount) |
|  **Trigger price\*:** | 80.00% of the initial share price |
|  **Initial share price\*:** | The closing price of the underlying shares on the pricing date |
|  **Final share price\*:** | The closing price of the underlying shares on the valuation date |
|  **CUSIP/ISIN:** | 06419HEC4 / US06419HEC43 |
|  **Listing:** | The Trigger PLUS will not be listed or displayed on any securities exchange or any electronic communications network. |
|  **Commission:** | $25.00 per stated principal amount |
|  **Estimated value on the pricing date:** | Expected to be between $932.33 and $962.33 per Trigger PLUS. See "Risk Factors" in the preliminary pricing supplement. |
|  **Preliminary pricing supplement:** | [http://www.sec.gov/Archives/edgar/data/9631/000183988225061516/bns_424b2-35490.htm](http://www.sec.gov/Archives/edgar/data/9631/000183988225061516/bns_424b2-35490.htm) |

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\* As determined by the calculation agent and as may be adjusted in the case of certain adjustment events as described in the accompanying product supplement.

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| |
|:---|
| **HYPOTHETICAL PAYOUT** |
| The below figures are based on a hypothetical upside leverage factor of 200%, a hypothetical maximum upside gain of 40.15% and hypothetical trigger price of 80.00% and are purely hypothetical (the actual terms of your Trigger PLUS will be determined on the pricing date and will be specified in the final pricing supplement).<br>|

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**Hypothetical Payment at Maturity**

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| | |
|:---|:---|
| **Underlying Return** | **Payment at Maturity** |
| +50.000% | $1401.50 |
| +40.000% | $1401.50 |
| +30.000% | $1401.50 |
| **+20.075%** | $1401.50 |
| +18.000% | $1360.00 |
| +12.000% | $1240.00 |
| +6.000% | $1120.00 |
| **0.000%** | **$1000.00** |
| -5.000% | $1050.00 |
| -10.000% | $1100.00 |
| -15.000% | $1150.00 |
| **-20.000%** | **$1200.00** |
| -21.000% | $790.00 |
| -30.000% | $700.00 |
| -40.000% | $600.00 |
| -50.000% | $500.00 |
| -75.000% | $250.00 |
| -100.000% | $0.00 |

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You will find a link to the accompanying preliminary pricing supplement for the Trigger PLUS above and links to the accompanying product supplement, underlier supplement, prospectus supplement and prospectus for the Trigger PLUS under "Additional Information About BNS and the Trigger PLUS" in the preliminary pricing supplement, which you should read and understand prior to investing in the Trigger PLUS.

The issuer has filed a registration statement (including a prospectus as supplemented by a prospectus supplement, underlier supplement, product supplement and the preliminary pricing supplement) with the Securities and Exchange Commission (the "SEC") for the offering to which this communication relates. Before you invest, you should read the accompanying prospectus in that registration statement and the other documents the issuer has filed with the SEC, including the accompanying preliminary pricing supplement and the accompanying prospectus supplement, underlier supplement and product supplement, for more complete information about the issuer and this offering. You may get these documents for free by visiting EDGAR on the SEC website at www.sec.gov. Alternatively, the issuer, any underwriter or any dealer participating in the offering will arrange to send you the prospectus if you request it by calling (212) 225-5678. Our Central Index Key, or CIK, on the SEC web site is 0000009631.

**Risk Considerations**

The risks set forth below are discussed in more detail in the "Risk Factors" section in the preliminary pricing supplement. Please review those risk factors carefully prior to making an investment decision.

***Risks Relating to Return Characteristics***

▪Risk of significant loss at maturity; you may lose up to your entire investment.

▪The stated payout from the issuer applies only at maturity.

▪The potential upside return on the Trigger PLUS is limited to the maximum upside gain.

▪The potential positive return on the Trigger PLUS from any negative performance of the underlying shares is limited by the trigger price and the return on the Trigger PLUS may change significantly despite only a small difference in the degree of change of the final share price relative to the initial share price.

▪You will not receive any interest payments.

▪The final share price is not linked to the price of the underlying shares at any time other than the valuation date.

▪Owning the Trigger PLUS is not the same as owning the underlying shares or the underlying constituent stocks.

▪The absolute return feature is not the same as taking a short position directly in the underlying shares or any underlying constituent stocks.

***Risks Relating to Characteristics of the Underlying Shares***

▪An investment in the Trigger PLUS involves market risk associated with the underlying shares.

▪There can be no assurance that the investment view implicit in the Trigger PLUS will be successful.

▪Changes affecting the target index of the underlying shares could have an adverse effect on the market value of, and return on, the Trigger PLUS.

▪There is no affiliation between the index sponsor and BNS, and BNS is not responsible for any disclosure by such index sponsor.

▪BNS cannot control actions by the sponsor and the sponsor has no obligation to consider your interests.

▪There are risks associated with an investment that is linked to the performance of an exchange-traded fund.

▪The fund does not measure the performance of gold bullion.

▪The Trigger PLUS are subject to risks associated with investments in the gold and silver mining industry.

▪The Trigger PLUS are subject to risks associated with non-U.S. securities.

▪The Trigger PLUS are subject to emerging markets risk.

▪The Trigger PLUS are subject to currency exchange rate risk.

▪The fund has announced a change to its target index.

▪Governmental regulatory actions, such as sanctions, could adversely affect your investment in the Trigger PLUS.

***Risks Relating to Estimated Value and Liquidity***

▪BNS' initial estimated value of the Trigger PLUS at the time of pricing (when the terms of your Trigger PLUS are set on the pricing date) will be lower than the issue price of the Trigger PLUS.

▪Neither BNS' nor SCUSA's estimated value of the Trigger PLUS at any time is determined by reference to credit spreads or the borrowing rate BNS would pay for its conventional fixed-rate debt securities.

▪BNS' initial estimated value of the Trigger PLUS does not represent future values of the Trigger PLUS and may differ from others' (including SCUSA's) estimates.

▪The Trigger PLUS have limited liquidity.

▪The price at which SCUSA would buy or sell your Trigger PLUS (if SCUSA makes a market, which it is not obligated to do) will be based on SCUSA's estimated value of your Trigger PLUS.

▪The price of the Trigger PLUS prior to maturity will depend on a number of factors and may be substantially less than the stated principal amount.

***Risks Relating to General Credit Characteristics***

▪Payments on the Trigger PLUS are subject to the credit risk of BNS.

***Risks Relating to Hedging Activities and Conflicts of Interest***

▪Hedging activities by BNS and SCUSA may negatively impact investors in the Trigger PLUS and cause our respective interests and those of our clients and counterparties to be contrary to those of investors in the Trigger PLUS.

▪The calculation agent can make antidilution and other adjustments that may adversely affect the market value of, and return on, the Trigger PLUS.

▪We, SCUSA and our other affiliates regularly provide services to, or otherwise have business relationships with, a broad client base, which has included and may include us and the sponsor and/or the underlying constituent stock issuers and the market activities by us, SCUSA or our other affiliates for our or their own respective accounts or for our clients could negatively impact investors in the Trigger PLUS.

▪Activities conducted by BNS and its affiliates may impact the market price of the underlying shares and the value of the Trigger PLUS.

▪The calculation agent will have significant discretion with respect to the Trigger PLUS, which may be exercised in a manner that is adverse to your interests.

▪BNS and its affiliates may publish research or make opinions or recommendations that are inconsistent with an investment in the Trigger PLUS.

***Risks Relating to Canadian and U.S. Federal Income Taxation***

▪Uncertain tax treatment. Significant aspects of the tax treatment of the Trigger PLUS are uncertain. You should consult your tax advisor about your tax situation. See "Additional Information About the Trigger PLUS — Tax Considerations" and "— Material Canadian Income Tax Consequences" in the preliminary pricing supplement.

**Underlying Shares**

For information about the underlying shares, including historical performance information, see "Information About the Fund" in the preliminary pricing supplement.