NBC Auto Callable Contingent Memory Income Note Securities (Maturity-Monitored Barrier) linked to a portfolio of Canadian pipeline companies, Class F, due on July 22, 2026

Current price: N/A
As of

General Information

Issuer:
NBC
FundSERV Code:
NBC20123
ISM Code:
V45407
Ticker Symbol:
ENB CT Equity, IPL CT Equity, KEY CT Equity, PPL CT Equity, TRP CT Equity

Dates

Issue Date:
22-Jul-2019
Maturity date:
22-Jul-2026
Note term:
7.0 years
Call Valuation Date 1:
17-Jan-2022
Call Valuation Date 2:
15-Jul-2022
Call Valuation Date 3:
16-Jan-2023
Call Valuation Date 4:
17-Jul-2023
Call Valuation Date 5:
15-Jan-2024
Call Valuation Date 6:
15-Jul-2024
Call Valuation Date 7:
15-Jan-2025
Call Valuation Date 8:
15-Jul-2025
Call Valuation Date 9:
15-Jan-2026
Final Valuation Date:
15-Jul-2026

Highlights

  • 7-year term.
  • Linked to a portfolio of Canadian pipeline companies.
  • 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 $4.250 (equivalent to 4.250% 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: -20.00%
  • Call Threshold: 10.00%.
  • Potential Coupon Payment: $8.50 p.a. paid semi-annually.
  • Participation factor: 0%
  • Maturity Barrier: -20.00%.
  • 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.
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