Extendible Accrual Deposit Notes Deposit Notes, Series 1

Current price: $114.25
As of 23-Apr-2024

General Information

Issuer:
NBC
FundSERV Code:
NBC2751
ISM Code:
V79544

Product Description

The Issuer may, at its option, extend the Notes beginning on the Initial Maturity Date and every year thereafter (each referred to as an “Extended Maturity Date”) up until the final maturity date (the “Final Maturity Date”) pursuant to the Extension Feature described below. At the Maturity Date, the noteholder is entitled to receive the Principal Amount and interest accrued and compounded annually at the Annual Compounded Rate described below (referred to as the “Redemption Amount”) as per the Redemption Schedule below. Any payment under the Notes will be in Canadian dollars.

Highlights

  • Initial Maturity Date: February 10, 2021.
  • Extended Maturity Dates: Each February 10 beginning on February 10, 2022 up to, and including February 10, 2030.
  • Final Maturity Date:  February 10, 2031.
  • Extension Feature: The Issuer may, at its option, on the Initial Maturity Date or on an Extended Maturity Date, extend the Maturity Date of the Notes to the next subsequent Extended Maturity Date or to the Final Maturity Date if applicable, at the interest rate set out below in respect of the relevant Extension Period (as defined below), but in no event beyond the Final Maturity Date (the “Extension Feature”).
  • Secondary Market: National Bank Financial Inc., as market maker, intends to maintain until the Maturity Date, under normal market conditions, a daily secondary market for the Notes.
  • The Notes will not constitute deposits that are insured under the Canada Deposit Insurance Corporation Act.
  • Eligible for RRSPs, RRIFs, RESPs, RDSPs, DPSPs and TFSAs.

Dates

Issue Date:
10-Feb-2016
Maturity date:
10-Feb-2031
Note term:
15.0 years
Valuation Date:
05-Feb-2031
Call Val. Date 1:
27-Jan-2021
Call Val. Date 2:
27-Jan-2022
Call Val. Date 3:
27-Jan-2023
Call Val. Date 4:
29-Jan-2024
Call Val. Date 5:
27-Jan-2025
Call Val. Date 6:
27-Jan-2026
Call Val. Date 7:
27-Jan-2027
Call Val. Date 8:
27-Jan-2028
Call Val. Date 9:
29-Jan-2029
Call Val. Date 10:
28-Jan-2030
Call Val. Date 11:
27-Jan-2031
Initial Maturity Date:
10-Feb-2021

Price and Historical Values

Last Updated Date:
23-Apr-2024
Current Price:
$114.25
Currency:
CAN

The bid price and any related information on the date of sale may differ from the current price and information posted above. Please refer to the offering document or your investment advisor.

Legal Notice

Portfolio

Clean PriceAccrued interestDirty price
82.65931.592114.251
Initial Maturity DateInitial Redemption Amount
10-Feb-21$18.190
Extended Maturity DatesExtended Redemption Amount
10-Feb-22$22.210
10-Feb-23$26.370
12-Feb-24$30.670
10-Feb-25$35.110
10-Feb-26$39.700
10-Feb-27$44.450
10-Feb-28$49.360
12-Feb-29$54.440
11-Feb-30$59.690
Final Maturity DateFinal Redemption Amount
10-Feb-31$65.120