Extendible Step-Up Deposit Notes, Series 21

Current price: $88.14
As of 02-Jul-2024

General Information

Issuer:
NBC
FundSERV Code:
NBC2761
ISM Code:
V73909

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 17th day of December and June. The first Coupon Payment Date will be December 17, 2016.
  • Initial Maturity Date: June 17, 2021.
  • Extended Maturity Dates: Each June 3rd beginning on June 2, 2022 up to, and including June 3, 2031.
  • Final Maturity Date:  June 17, 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:
17-Jun-2016
Maturity date:
17-Jun-2031
Note term:
15.0 years
Valuation Date:
12-Jun-2031
Call Val. Date 1:
03-Jun-2021
Call Val. Date 2:
03-Jun-2022
Call Val. Date 3:
05-Jun-2023
Call Val. Date 4:
03-Jun-2024
Call Val. Date 5:
03-Jun-2025
Call Val. Date 6:
03-Jun-2026
Call Val. Date 7:
03-Jun-2027
Call Val. Date 8:
05-Jun-2028
Call Val. Date 9:
04-Jun-2029
Call Val. Date 10:
03-Jun-2030
Call Val. Date 11:
03-Jun-2031
Initial Maturity Date:
17-Jun-2021

Price and Historical Values

Last Updated Date:
02-Jul-2024
Current Price:
$88.14
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
88.0070.13688.143
Fixed Coupon Payment Dates (Initial Maturity Date)Coupon
12-19-16$1.425
06-19-17$1.425
12-18-17$1.425
06-18-18$1.425
12-17-18$1.425
06-17-19$1.425
12-17-19$1.425
06-17-20$1.425
12-17-20$1.425
06-17-21$1.425
Fixed Coupon Payment Dates (Extension Period) Coupon
12-17-21$1.450
06-17-22$1.450
12-19-22$1.475
06-19-23$1.475
12-18-23$1.500
06-17-24$1.500
12-17-24$1.525
06-17-25$1.525
12-17-25$1.550
06-17-26$1.550
12-17-26$1.58
$1.58
12-17-27$1.60
06-19-28$1.60
12-18-28$1.63
06-18-29$1.63
12-17-29$1.65
06-17-30$1.65
12-17-30$1.68
06-17-31$1.68