Alphabet Inc.

(NASDAQ Global Select)
Back to all articles
Slightly Bullish +15

Bank of Nova Scotia Announces Auto-Callable Structured Note Linked to Alphabet Inc. (GOOGL) Due 2029 - Kalkine Media

Capital raising AI-generated analysis

πŸ“… Bank of Nova Scotia filed a prospectus on November 9, 2026, for an auto-callable structured note linked to Alphabet Inc. Class A common stock maturing in November 2029.

πŸ’° The security offers a contingent coupon rate of at least 10.00% per annum, payable monthly if GOOGL closes at or above 70% of the starting price.

πŸ“‰ Investors face downside risk where maturity payments could result in losing more than 30% of the face amount if the stock price remains below the threshold.

πŸ” An auto-call feature allows for early redemption if GOOGL's closing price meets or exceeds the starting price on monthly calculation days from February 2027.

🏦 Scotia Capital Inc. serves as the calculation agent, while Wells Fargo Securities acts as a distribution agent for the structured note issuance.

Bullish Signals
  • The structured note offers investors a contingent coupon rate of at least 10.00% per annum, providing potential income if GOOGL's stock price performs above the 70% downside threshold.
  • The auto-call feature provides an opportunity for early redemption and return of principal if GOOGL's stock price meets or exceeds the starting price before maturity.
Risk Factors
  • If GOOGL's closing price falls below 70% of the starting price at maturity, investors will lose more than 30% of their face amount and possibly all of it.
  • Monthly coupon payments are contingent on GOOGL maintaining a closing price at or above 70% of the starting price; failure to meet this threshold results in no payment for that month.
Full Analysis
On November 9, 2026, Bank of Nova Scotia filed a free writing prospectus detailing an auto-callable structured note linked to Alphabet Inc.'s Class A common stock (Ticker: GOOGL). The security is set to mature on November 15, 2029, with a face amount of $1,000 per unit and a pricing date of November 11, 2026. Scotia Capital Inc. acts as the calculation agent for this structured product under its Senior Note Program. The note features a contingent coupon rate of at least 10.00% per annum, payable monthly if GOOGL's closing price meets or exceeds 70.00% of the starting price on specific calculation days between December 2026 and November 2029. If the stock price falls below this downside threshold at maturity, investors face a performance-based payout that could result in losing more than 30% of their principal investment. The structured note includes an auto-call feature allowing early redemption if GOOGL's closing price meets or exceeds the starting price on any monthly calculation day from February 2027 through October 2029. Distribution is handled by Scotia Capital (USA) Inc. and Wells Fargo Securities, LLC, with fees including a dealer discount of up to 2.325% and potential selling concessions.