Product Description
The NBC Canadian Utility Companies Deposit Notes, Series 1 are issued by National Bank of Canada. The Principal Amount of your Deposit is fully guaranteed at maturity by the Bank. The Deposits aim to provide you with a return at maturity linked to the performance of a portfolio of the common shares of twelve Canadian utility companies.
Note
On March 9, 2021, Just Energy Group Inc. (TSX: JE) (“Just Energy”) announced that it has received protection under the Companies’ Creditors Arrangement Act. This event triggered a Substitution Event in connection with the Reference Portfolio of the Deposit Notes as per the terms of the Information Statement relating to the Deposit Notes. As such, we hereby advise the Holders of the Deposit Notes that, as of the closing of the markets on March 10, 2021, the common shares of Just Energy have been replaced by the common shares of Boralex Inc. (TSX: BLX) as a Reference Share in the Reference Portfolio of the Deposit Notes in accordance with the terms and conditions of the Information Statement. As a result, all calculations in respect of the Reference Portfolio Return that were based on the price of the common shares of Just Energy are, from March 10, 2021 until the Maturity Date, based on the price of the common shares of Boralex Inc.\\\\\\\\
Brookfield Renewable Partners L.P. (TSX: BEP.UN) (‘’BEP’’) completed the special distribution of class A exchangeable subordinate voting shares of Brookfield Renewable Corporation (TSX: BEPC). As per the terms of the Deposits, the special distribution triggers a Potential Adjustment Event in respect of the common shares of BEP, a Reference Asset in the Reference Portfolio of the Deposits. As such, the Initial Value of the common shares of BEP was adjusted on July 29, 2020.