Extendible Step-Down Deposit Notes, Series 1

Current price: US$99.27
As of 14-Feb-2019

General Information

Issuer:
NBC
FundSERV Code:
NBC28007
ISM Code:
V86660

Dates

Issue Date:
31-Jul-2018
Maturity date:
31-Jul-2023
Note term:
5.0 years
Call Date 1:
31-Jul-2019
Call Date 2:
31-Jul-2020
Call Date 3:
03-Aug-2021
Call Date 4:
02-Aug-2022
Call Date 5:
31-Jul-2023
Valuation Date:
26-Jul-2023
Call Valuation Date 1:
17-Jul-2019
Call Valuation Date 2:
17-Jul-2020
Call Valuation Date 3:
19-Jul-2021
Call Valuation Date 4:
18-Jul-2022
Call Valuation Date 5:
17-Jul-2023
Initial Maturity Date:
31-Jul-2019

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.

Highlights

  • Coupons: Coupons will be paid semi-annually in arrears on the 31st day of January and July. The first Coupon Payment Date will be January 31, 2019.
  • Initial Maturity Date: July 31, 2019.
  • Extended Maturity Dates: Each July 31st beginning on July 31, 2020 up to, and including July 31, 2022.
  • Final Maturity Date: July 31, 2023.
  • 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.

Price and Historical Values

Last Updated Date:
14-Feb-2019
Current Price:
US$99.27

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
99.2700.19599.465
Fixed Coupon Payment Dates (Initial Maturity Date)Coupon
01-31-19$1.755
07-31-19$1.755
Fixed Coupon Payment Dates (Extension Period) Coupon
01-31-20$1.455
07-31-20$1.455
02-01-21$1.305
08-03-21$1.305
01-31-22$1.280
08-02-22$1.280
01-31-23$1.255
07-31-23$1.255

Documents (pdf)