Product Description
The NBC Global Companies Deposit Notes offers the growth potential of a portfolio of the common shares of 15 global companies all while ensuring 100% principal protection at maturity.
Note
On April 1, 2024, GE Aerospace, formerly known as General Electric Company (NYSE: GE) (“GE”), separated its energy business to form GE Vernova (NYSE: GEV) (“GEV”), resulting into two independent publicly traded companies. The spin-off was completed by the distribution of one share of GEV’s common stock for every four shares of GE’s common stock held. This event triggered a Potential Adjustment Event in accordance with the terms and conditions of the Deposit Notes. As such, the Closing Level on the Issuance Date of the common shares of GE was adjusted as of the closing of the markets on April 1, 2024.
On January 4, 2023, General Electric Company (NYSE: GE) (“GE”) separated its healthcare business to form GE HealthCare Technologies Inc. (NASDAQ GS: GEHC) (“GE HealthCare”), an independent listed company. GE completed the spin-off of GE HealthCare by the special distribution of one share of GE HealthCare’s common stock for every 3 shares of GE’s common stock held. This event triggered a Potential Adjustment Event as per the terms and conditions of the Deposit Notes in respect of the common shares of GE, a Reference Share in the Reference Portfolio of the Deposit Notes. As such, the Initial Value of the common shares of GE was adjusted as of the closing of the markets on January 4, 2023.
On September 12, 2016, E.ON SE (E.ON) announced the completion of the spin-off of Uniper SE (Uniper), triggering a Potential Adjustment Event in respect of the common shares of E.ON, a Reference Share of the Reference Portfolio of the Deposits. In addition, they received one new no-par value registered share of Uniper for each ten shares held in E.ON. As a result of such event, we hereby inform the holders of the Deposits that, as of September 12, 2016, the Calculation Agent made adjustments to the Initial Value of the common shares of E.ON in accordance with the term and conditions of the Information Statement of the Deposits.
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.