SEC Form FWP filed by Bank Nova Scotia Halifax Pfd 3

Autocallable LIRNs® Linked to a Basket of Fifteen Technology Sector Stocks

The graph above and the table below reflect the hypothetical return on the notes, based on the terms contained in the table to the left (using the mid-point for any range(s)). The graph and table have been prepared for purposes of illustration only, assume that the notes are not called on any Observation Date and do not take into account any tax consequences from investing in the notes.

Issuer

The Bank of Nova Scotia (“BNS”)

Principal Amount

$10.00 per unit

Term

Approximately two years, if not called

Market Measure

An approximately equally-weighted basket comprised of fifteen technology sector stocks: the common stock of Salesforce, Inc. (Bloomberg symbol: "CRM"), the common stock of Microsoft Corporation (Bloomberg symbol: "MSFT"), the common stock of Shopify Inc. (Bloomberg symbol: "SHOP"), the common stock of Snowflake Inc. (Bloomberg symbol: "SNOW"), the common stock of Palantir Technologies Inc. (Bloomberg symbol: "PLTR"), the common stock of Cisco Systems, Inc. (Bloomberg symbol: "CSCO"), the common stock of Palo Alto Networks, Inc. (Bloomberg symbol: "PANW"), the common stock of ServiceNow, Inc. (Bloomberg symbol: "NOW"), the common stock of AppLovin Corporation (Bloomberg symbol: "APP"), the common stock of Cadence Design Systems, Inc. (Bloomberg symbol: "CDNS"), the common stock of Dynatrace, Inc. (Bloomberg symbol: "DT"), the common stock of HubSpot, Inc. (Bloomberg symbol: "HUBS"), the common stock of Intuit Inc. (Bloomberg symbol: "INTU"), the common stock of Adobe Inc. (Bloomberg symbol: "ADBE") and the common stock of Oracle Corporation (Bloomberg symbol: "ORCL"), each a “Basket Stock” and each of their issuers is an “Underlying Company”.

Automatic Call

The notes will be called automatically on if the Observation Level of the Market Measure on the Observation Date is equal to or greater than the Call Level

Call Level

100.00% of the Starting Value

Observation Date

Approximately one year from the pricing date

Call Amounts

[$11.75 to $11.85] if called on the Observation Date, to be determined on the pricing date.

Payout Profile at Maturity

●2-to-1 leveraged upside exposure to increases in the Market Measure

●1-to-1 downside exposure to decreases in the Market Measure, with up to 100.00% of your principal at risk

Participation Rate

200.00%

Threshold Value

100.00% of the Starting Value

Investment Considerations

This investment is designed for investors who anticipate that the Market Measure will increase over the term of the notes, are willing to take full downside risk and forgo interim interest payments, and are willing to have their notes called prior to maturity.

Preliminary Offering Documents

http://www.sec.gov/Archives/edgar/data/9631/000183988226018045/bns_fwp-10930.htm

Exchange Listing

No

You should read the relevant Preliminary Offering Documents before you invest. Click on the Preliminary Offering Documents hyperlink above or call your Financial Advisor for a hard copy.

Risk Factors

Please see the Preliminary Offering Documents for a description of certain risks related to this investment, including, but not limited to, the following:

●If the notes are not automatically called, depending on the performance of the Market Measure as measured shortly before the maturity date, your investment may result in a loss; there is no guaranteed return of principal.

●If the notes are called, your return on the notes is limited to the return represented by the Call Premium.

●Your investment return may be less than that of a comparable investment directly in the Basket Stocks.

●Payments on the notes are subject to the credit risk of BNS, and actual or perceived changes in the creditworthiness of BNS are expected to affect the value of the notes. If BNS becomes insolvent or is unable to pay its obligations, you may lose your entire investment.

●Changes in the price of one of the Basket Stocks may be offset by changes in the prices of the other Basket Stocks.

●The initial estimated value of the notes on the pricing date will be less than their public offering price.

●If you attempt to sell the notes prior to maturity, their market value may be lower than both the public offering price and the initial estimated value of the notes on the pricing date.

●You will have no rights of a holder of the Basket Stocks, and you will not be entitled to receive any shares of the Basket Stocks or dividends or other distributions by the Underlying Companies.

●No Underlying Company will have any obligations relating to the notes, and none of us, MLPF&S or BofAS will perform any due diligence procedures with respect to any Underlying Company in connection with this offering.

●Payments on the notes will not be adjusted for all corporate events that could affect the Basket Stocks.

●The Basket Stocks are concentrated in one sector.

●An investment in the notes is subject to risks associated with investing in stocks in the information technology sector.

Final terms will be set on the pricing date within the given range for the specified Market-Linked Investment. Please see the Preliminary Offering Documents for complete product disclosure, including related risks and tax disclosure.