Note
On May 6, 2016, Canadian Natural Resources Limited (“CNQ”) announced the details of a plan of arrangement (the “Arrangement”) in respect of a return of capital to shareholders of CNQ. Under the arrangement, shareholders of CNQ will receive 0.02 of a common share of Prairiesky Royalty Ltd. for each CNQ common share, or cash equivalent, depending on the number of shares owned. Once the arrangement becomes effective, it triggers a Potential Adjustment Event as per the terms of the Prospectus of the Note Securities. As a result thereof, the Calculation Agent made adjustments to the Initial Value of the common shares of CNQ in the Reference Portfolio, effective June 1, 2016.
On March 21, 2016, Suncor Energy Inc. (“Suncor”) and Canadian Oil Sands Limited (“COS”) announced that the acquisition of COS by Suncor has been completed. As a result thereof, the common shares of COS will cease to be traded on the Toronto Stock Exchange. Accordingly, we hereby advise the Holders of the Note Securities that, as of March 24, 2016, the common shares of COS have been replaced by the common shares of Enerplus Corporation (trading under ticker “ERF”) as a Reference Asset in the Reference Portfolio of the Note Securities in accordance with the terms and conditions of the Prospectus. All calculations in respect of the Reference Portfolio Return that were based on the price return of the common shares of COS will be, from March 24, 2016 until maturity, based on the price return of the common shares of Enerplus Corporation.