Bank of Nova Scotia Finalizes Terms for New S&P 500-Linked Digital Notes Offering
BNS sits 73% above its 52-week low of $44.09 on light trading volume (0.3× avg).
Summary
The Bank of Nova Scotia has finalized the terms for its new offering of Digital Notes linked to the S&P 500 Index, which provide a capped return and buffered downside protection.
Key Events · Financing and Capital Events · BNS
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Finalizes Digital Notes Offering
The Bank of Nova Scotia has finalized the terms for its Digital Notes linked to the S&P 500 Index, following a preliminary pricing supplement from January 26, 2026.
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Note Structure and Returns
The notes offer a capped maximum payment (expected $1,080.40-$1,094.40 per $1,000 principal) if the S&P 500 Index is at or above 90% of its initial level, with principal at risk for declines exceeding 10%.
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Offering Price and Proceeds
The notes have an original issue price of 100% of the principal amount, with 0.88% underwriting commissions, yielding 99.12% of proceeds to the Bank.
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Credit Risk Disclosure
Payments on the notes, including principal repayment, are subject to the creditworthiness of The Bank of Nova Scotia.
Analysis · BNS · Finance
This 424B3 filing from The Bank of Nova Scotia finalizes the terms for its offering of Digital Notes linked to the S&P 500 Index. This follows a preliminary pricing supplement filed yesterday, January 26, 2026. The notes offer a capped maximum payment amount (expected between $1,080.40 and $1,094.40 per $1,000 principal) if the S&P 500 Index performs at or above 90% of its initial level, with investors facing principal loss if the index declines by more than 10%. The original issue price is 100% of the principal amount, with 0.88% underwriting commissions, resulting in 99.12% proceeds to the Bank. While the aggregate principal amount of the offering is not specified, the issuance of structured notes is a routine financing activity for a large financial institution like Bank of Nova Scotia. The finalization of terms provides definitive details for investors considering these S&P 500-linked notes.
At the time of this filing, BNS was trading at $76.29 on NYSE in the Finance sector, with a market capitalization of approximately $94.3B. The 52-week trading range was $44.09 to $76.48. This filing was assessed with neutral market sentiment and an importance score of 7 out of 10.