Extendible Step-Up Deposit Deposit Notes, Series 15

Current price: $100.00
As of 08-Mar-2021

General Information

Issuer:
NBC
FundSERV Code:
NBC2753
ISM Code:
V79565

Product Description

The Notes offer pre-determined step-up coupons (the “Coupons”). The Issuer may, at its option, extend the Notes beginning on the Initial Maturity Date and annually 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. The Notes pay semi-annual Coupons. All payments under the Notes will be in Canadian dollars.

Highlights

  • Coupons: Coupons will be paid semi-annually in arrears on the 22nd day of July and January, subject to the Extension Feature. The first Coupon Payment Date will be July 22, 2016.
  • Initial Maturity Date: January 22, 2017.
  • Extended Maturity Dates: Each January 22nd beginning on January 22, 2018 up to, and including January 22, 2021.
  • Final Maturity Date:  January 24, 2022.
  • 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:
07-Mar-2016
Maturity date:
09-Mar-2026
Note term:
10.0 years
Valuation Date:
04-Mar-2026
Call Val. Date 1:
21-Feb-2017
Call Val. Date 2:
21-Feb-2018
Call Val. Date 3:
21-Feb-2019
Call Val. Date 4:
24-Feb-2020
Call Val. Date 5:
22-Feb-2021
Call Val. Date 6:
18-Feb-2022
Call Val. Date 7:
21-Feb-2023
Call Val. Date 8:
22-Feb-2024
Call Val. Date 9:
21-Feb-2025
Call Val. Date 10:
23-Feb-2026
Initial Maturity Date:
07-Mar-2017

Price and Historical Values

Last Updated Date:
08-Mar-2021
Current Price:
$100.00
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
Fixed Coupon Payment Dates (Initial Maturity Date)Coupon
09-07-16$1.250
03-07-17$1.250
Fixed Coupon Payment Dates (Extension Period) Coupon
09-07-17$1.275
03-07-18$1.275
09-07-18$1.300
03-07-19$1.300
09-09-19$1.325
03-09-20$1.325
09-08-20$1.350
03-08-21$1.350
09-07-21$1.375
03-07-22$1.375
09-07-22$1.400
03-07-23$1.400
09-07-23$1.425
03-07-24$1.425
09-09-24$1.450
03-07-25$1.450
09-08-25$1.475
03-09-26$1.475
Called on Mar 08, 2021