Note
On April 4, 2023, Rogers Communications Inc. – Class B (TSX: RCI/B) (“Rogers”) completed its merger with Shaw Communications Inc. – Class B (TSX: SJR/B) (“Shaw”). Accordingly, Shaw’s shares were delisted from the Toronto Stock Exchange. This event triggered a Substitution Event in connection with the Reference Portfolio of the Deposit Notes as per the terms and conditions of the Information Statement. As such, we hereby advise the Holders of the Deposit Notes that the common shares of Shaw have been replaced by the common shares of Rogers as a Reference Asset in the Reference Portfolio of the Deposit Notes, in accordance with the terms and conditions of the Information Statement. As a result, all calculations in respect of the Reference Portfolio Return that were based on the price of the common shares of Shaw are, from the closing of the markets on April 4, 2023, based on the price of the common shares of Rogers.
On May 24, 2022, BHP Group Limited (ASE: BHP) (BHP) completed the spin-off of Woodside Energy Group Ltd (ASE: WDS) (Woodside) by the special distribution of one newly issued share of Woodside for every 5.5340 shares of BHP held. The spin-off occurred following the announcement of the merger of BHP with Woodside. This event triggered a Potential Adjustment Event as per the terms and conditions of the Deposit Notes in respect of the common shares of BHP, a Reference Share in the Reference Portfolio of the Deposit Notes. As such, the Initial Value of the common shares of BHP was adjusted as of the closing of the markets on May 24, 2022.
On July 18, 2022, GSK PLC (LN: GSK) (“GSK”) separated its consumer healthcare business to form Haleon PLC (LN: HLN) (“Haleon”), an independent listed company. Following the spin-off, GSK completed the consolidation of its share capital, effective by the closing of the markets on the same day. These events triggered Potential Adjustment Events as per the terms and conditions of the Deposit Notes in respect of the common shares of GSK, a Reference Share in the Reference Portfolio of the Deposit Notes. As such, the Initial Value of the common shares of GSK was adjusted for the spin-off as of the opening of the markets on July 18, 2022, followed by an adjustment to reflect the consolidation at the closing of the markets on the same day.