National Bank - Structured Solutions Group

NBC Auto Callable Note Securities (Maturity-Monitored Barrier) linked to a portfolio of Canadian pipeline companies, due on May 29, 2023

Current price: $106.96
As of 13-Aug-2018

General Information

Issuer:
NBC
FundSERV Code:
NBC23155
ISM Code:
V86435
Ticker Symbol:
ENB, PPL, TRP, KEY, IPL

Dates

Issue Date:
28-May-2018
Maturity date:
29-May-2023
Note term:
5.0 years
Call Date 1:
28-May-2019
Call Date 2:
28-May-2020
Call Date 3:
28-May-2021
Call Date 4:
30-May-2022
Call Date 5:
29-May-2023
Call Valuation Date 1:
21-May-2019
Call Valuation Date 2:
21-May-2020
Call Valuation Date 3:
20-May-2021
Call Valuation Date 4:
20-May-2022
Call Valuation Date 5:
19-May-2023
Final Valuation Date:
19-May-2023

Highlights

  • Approximatively 5-year term.

  • Linked to a portfolio of Canadian pipeline companies.

  • Fixed Return applicable to the Call Valuation Dates if the Reference Portfolio Return is then higher than the Call Thresold: Year 1: 12.00%, Year 2: 24.00%, Year 3: 36.00%, Year 4: 48.00%, Year 5: 60.00%.

  • Variable Return is applicable where the Reference Portfolio is greater than the Fixed Return applicable to the given Call Valuation Date or Final Valuation Date and is equal to the product of (i) the Participation Factor and (ii) the amount by which the Reference Portfolio exceeds the Fixed Return.

  • Participation Factor: 5.00%.

  • Maturity-Monitored Barrier: -35.00%.

  • If the Reference Portfolio Return is higher than the Call Threshold on a Call Valuation Date, the Note Securities will be automatically called on the applicable Call Date and the Maturity Redemption Payment will be equal to $100 x [1 + Fixed Return applicable to the given Call Valuation Date + Variable Return].

  • If the Note Securities are not automatically called and the Reference Portfolio Return is higher than the Call Threshold on the Final Valuation Date, the Maturity Redemption Payment will be equal to $100 x [1 + Fixed Return applicable to the Final Valuation Date + Variable Return].

  • If the Note Securities are not automatically called and the Reference Portfolio Return is equal to or lower than the Call Threshold but equal to higher than the Barrier on the Final Valuation Date, the Maturity Redemption Payment will be equal to $100.

  • If the Note Securities are not automatically called and the Reference Portfolio Return is lower than the Call Threshold and is lower than the Barrier on the Final Valuation Date, the Maturity Redemption Payment will be equal to $100 x [1 + Reference Portfolio Return].

  • Eligible for RRSPs, RRIFs, RESPs, RDSPs, DPSPs and TFSAs.

  • Daily secondary market available under normal market conditions.

Price and Historical Values

Last Updated Date:
13-Aug-2018
Current Price:
$106.96

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

CompanyInitial PriceCurrent PriceReturnWeighting
Enbridge Inc40.3647.0516.58%20%
Inter Pipeline Ltd23.9424.311.55%20%
Keyera Corp34.5037.829.62%20%
Pembina Pipeline Corp43.5246.065.84%20%
TransCanada Corp53.9757.827.13%20%
Reference Portfolio Return8.14%
Indicative Variable Interest12.00%
Call Threshold0.00%