Product Description
The Deposit Notes are principal-protected deposit notes which aim to provide Holders thereof a return at maturity based on the price return of common shares of 20 Canadian companies listed on the Toronto Stock Exchange.
Note
On April 18, 2019, Goldcorp Inc. (TSX: G) (“Goldcorp”) and Newmont Goldcorp Corporation (formerly known as Newmont Mining Corporation) (NYSE: NEM) (“Newmont Goldcorp”) announced the closing of a transaction which combined Newmont Mining Corporation and Goldcorp. This event triggered a Substitution Event in connection with the Reference Portfolio of the Deposit Notes as per the terms of the Information Statement relating to the Deposit Notes. As such, we hereby advise the Holders of the Deposit Notes that, as of the opening of the markets on April 23, 2019, the common shares of Goldcorp have been replaced by the common shares of Newmont Goldcorp, as a Reference Share in the Reference Portfolio of the Deposit Notes in accordance with the terms and conditions the Information Statement. As a result, all calculations in respect of the Reference Portfolio Return that were based on the prices of the common shares of Goldcorp are, from April 23, 2019, until maturity, based on the prices of the common shares of Newmont Goldcorp. In addition, in order to calculate the Reference Portfolio Return, the Calculation Agent will use the prices of the common shares of Goldcorp Newmount that are published and reported in American dollars on the NYSE. Consequently, it must be noted that the exchange rate between the Canadian dollar and the American dollar will not have any impact on the return of the common shares of Goldcorp Newmount for the purpose of the Deposit Notes as the return of these common shares will be a return calculated in American dollars, without any conversion back to Canadian dollars.