NBC Auto Callable Contingent Memory Income Note Securities (Maturity-Monitored Barrier) linked to a portfolio of Canadian banks, Class F, due on July 21, 2025
3859
General Information
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Issuer:
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NBC
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FundSERV Code:
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NBC20034
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ISM Code:
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V86615
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Ticker Symbol:
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BMO, BNS, CM, RY, TD
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Educational Summary:
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Link
Highlights
- 7-year term.
- Linked to Canadian banks.
- Potential coupon payments: provided that the Reference Portfolio Return is equal to or higher than the Coupon Payment Threshold on the applicable Coupon Payment Valuation Date, Holders will be entitled to receive, on the relevant Coupon Payment Date, the coupon payment which shall be computed by reference to both the coupon of $6.25 (equivalent to 6.25% of the principal amount of each note security) and the coupon Variable Return
- Memory feature: coupon payments include any previously unpaid coupon payments.
- Coupon Payment Threshold: -25%
- Call Threshold: 15% (starting after 18 months).
- Potential Coupon Payment: $6.25 p.a. paid semi-annually.
- Participation Factor: 0%
- Maturity Barrier: -25%.
- If the Reference Portfolio Return is equal to or 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 + Variable Return]; or
- If the Note Securities are not automatically called and the Reference Portfolio Return is positive on the Final Valuation Date, the Maturity Redemption Payment will be equal to $100 x [1 + Variable Return]; or
- If the Note Securities are not automatically called and the Reference Portfolio Return is nil or negative but equal to or higher than the Barrier on the Final Valuation Date, the Maturity Redemption Payment will be equal to $100; or
- If the Note Securities are not automatically called and the Reference Portfolio Return is negative and 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.
Dates
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Issue Date:
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19-Jul-2018
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Maturity date:
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21-Jul-2025
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Note term:
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7.0 years
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Call Val. Date 1:
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13-Jan-2020
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Call Val. Date 2:
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13-Jul-2020
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Call Val. Date 3:
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12-Jan-2021
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Call Val. Date 4:
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12-Jul-2021
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Call Val. Date 5:
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12-Jan-2022
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Call Val. Date 6:
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12-Jul-2022
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Call Val. Date 7:
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12-Jan-2023
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Call Val. Date 8:
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12-Jul-2023
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Call Val. Date 9:
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12-Jan-2024
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Call Val. Date 10:
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12-Jul-2024
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Call Val. Date 11:
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13-Jan-2025
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Final Valuation Date:
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14-Jul-2025
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Price and Historical Values
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Last Updated Date:
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19-Jul-2021
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Current Price:
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$103.30
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Currency:
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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
| Company | Initial Price | Final Price | Return | Weighting |
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| Bank of Montreal | 103.66 | 127.00 | 22.52% | 20% |
| Bank of Nova Scotia | 76.17 | 79.29 | 4.10% | 20% |
| Canadian Imperial Bank of Commerce | 115.92 | 142.83 | 23.21% | 20% |
| Royal Bank of Canada | 101.40 | 127.72 | 25.96% | 20% |
| Toronto-Dominion Bank | 76.32 | 85.05 | 11.44% | 20% |
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| | Reference Portfolio Return | 17.44% | |
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| | Call Threshold | 10.00% | |
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| Called on Jul 19, 2021 | | | | |
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