Bank Nova Scotia Halifax Pfd 3 (BNS) Stock Forecasts

Scotiabank filed a Form 6-K on October 16, 2026, confirming the validity of US$2.3 billion in senior notes. The notes, maturing between 2029 and 2032, have fixed-to-floating and floating-rate structures. Legal opinions from Allen Overy Shearman Sterling US LLP and Osler, Hoskin & Harcourt LLP support the notes' validity. The filing is part of Scotiabank's broader capital markets program.

Scotiabank received FCA approval for a CAD100 billion covered bond prospectus supplement. The bonds are fully guaranteed, boosting investor confidence. The supplement is publicly available, enhancing transparency and funding flexibility for the bank.

Scotiabank (TSX: BNS, NYSE: BNS) received approval to increase its share buyback program from 15 million to 40 million common shares, representing 3.25% of its outstanding shares. The bank has already repurchased 13.04 million shares since the program began. The amended bid will take effect on October 6, 2026, and continue until April 6, 2027, unless terminated earlier.

Scotiabank raised its offer to buy out minority shareholders of Scotia Group Jamaica (SGJ) to $75 per share, up from $61.50, valuing the deal at $63.6 billion. SGJ shares jumped 12% to $66 in midday trading. The improved offer follows strong quarterly results and is subject to shareholder and court approval. Scotiabank Caribbean Holdings owns 72.76% of SGJ.

Canada's six largest banks (BMO, CIBC, National Bank, RBC, Scotiabank, TD) are exploring a joint project for Canadian dollar tokenized deposits on a blockchain. The initiative aims to enable efficient movement of tokenized deposits among financial institutions, with potential expansion to other digital assets. The banks also participate in a similar U.S. project via The Clearing House.

The Bank of Nova Scotia (BNS) issued C$750M (US$534.4M) in Canadian defense notes, the first defense-labeled bond in Canada. The 5-year non-call 4-year notes were priced, according to the company.