Product Description
The NBC Recovery Note Securities linked to the S&P/TSX 60 Index, Series 1 (the "Note Securities") provide investors with the
opportunity to participate in the short-term growth of the Canadian market via the S&P/TSX 60 Index (the "Reference Index"). If ever the return of the Reference Index at maturity is nil or negative, then the Note Securities will provide Holders with their Principal Amount of $100 as long as the closing level of the Reference Index has never reached 60% of the Initial Index Level (the "Barrier"). Otherwise, the Note Securities incur 100% of the depreciation of the Reference Index.