Product Description
The NBC Canadian Equity Deposit Notes offers the growth potential of a Canadian diversified equity portfolio all while ensuring 100% principal protection at maturity.
Note
On June 28, 2021, Brookfield Asset Management Inc. (TSX: BAM.A) (“Brookfield”) completed the spin-off of Brookfield Asset Management Reinsurance Partners Ltd. (TSX: BAMR) (“Brookfield Reinsurance”) by the special distribution of one class A exchangeable limited voting share of Brookfield Reinsurance for every 145 Brookfield class A and B limited voting shares held. This event triggered a Potential Adjustment Event as per the terms and conditions of the Deposit Notes in respect of the common shares of Brookfield, a Reference Share in the Reference Portfolio of the Deposit Notes. As such, the Initial Value of the common shares of Brookfield was adjusted as of the closing of the markets on June 28, 2021.
On December 9, 2022, Brookfield Asset Management Inc. (TSX: BAM.A) (“BAMA”) announced the completion of its division into two publicly traded companies: BAMA, which is renamed Brookfield Corporation (TSX: BN) (“BN”) and Brookfield Asset Management Ltd. (TSX: BAM) (“BAM”). This event triggered a Potential Adjustment Event as per the terms and conditions of the Deposit Notes in respect of the common shares of BN and BAM, the Reference Shares in the Reference Portfolio of the Deposit Notes. To reflect the impact of such transaction, the Calculation Agent made adjustments to the Reference Portfolio by splitting the weight of the common shares of BAMA. In particular, the weight of BN (formerly named BAMA) in the Reference Portfolio was rebalanced and BAM was added to the Reference Portfolio. As such, the Initial Value of the common shares of BN and BAM was adjusted as of the closing of the markets on December 9, 2022.