NBC Auto Callable Contingent Memory Income Note Securities (Maturity-Monitored Barrier) linked to a portfolio of Canadian pipeline companies, Class F, due on September 14, 2026

Current price: $97.75
As of 19-Apr-2024

General Information

Issuer:
NBC
FundSERV Code:
NBC20130
ISM Code:
V45535
Ticker Symbol:
ENB CT Equity, IPL CT Equity, KEY CT Equity, PPL CT Equity, TRP CT Equity
Educational Summary:
Link

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 $8 (equivalent to 8% 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: -30%
  • Call threshold: 10% (starting after 12 months).
  • Potential Coupon Payment: $8.00 p.a. paid semi-annually.
  • Barrière à l’échéance: -30%.
  • 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

Issue Date:
13-Sep-2019
Maturity date:
14-Sep-2026
Note term:
7.0 years
Call Date 1:
14-Sep-2020
Call Date 2:
15-Mar-2021
Call Date 3:
14-Sep-2021
Call Date 4:
14-Mar-2022
Call Date 5:
14-Sep-2022
Call Date 6:
14-Mar-2023
Call Date 7:
14-Sep-2023
Call Date 8:
14-Mar-2024
Call Date 9:
16-Sep-2024
Call Date 10:
14-Mar-2025
Call Date 11:
15-Sep-2025
Call Date 12:
16-Mar-2026
Call Val. Date 1:
04-Sep-2020
Call Val. Date 2:
08-Mar-2021
Call Val. Date 3:
07-Sep-2021
Call Val. Date 4:
07-Mar-2022
Call Val. Date 5:
07-Sep-2022
Call Val. Date 6:
07-Mar-2023
Call Val. Date 7:
07-Sep-2023
Call Val. Date 8:
07-Mar-2024
Call Val. Date 9:
09-Sep-2024
Call Val. Date 10:
07-Mar-2025
Call Val. Date 11:
08-Sep-2025
Call Val. Date 12:
09-Mar-2026
Final Valuation Date:
04-Sep-2026

Price and Historical Values

Last Updated Date:
19-Apr-2024
Current Price:
$97.75
Currency:
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.

Note

On October 28, 2021, Brookfield Infrastructure Partners L.P. announced the completion of its acquisition of Inter Pipeline Ltd. (TSX: IPL) (“Inter Pipeline”). It is anticipated that the Inter Pipeline shares will be delisted from the Toronto Stock Exchange. This event triggered an Extraordinary Non Replacement Event in connection with the Reference Portfolio of the Note Securities as per the terms and conditions of the Prospectus. As such, we hereby advise the Holders of the Note Securities that the common shares of Inter Pipeline have been deleted from the Reference Portfolio such that, from the closing of the markets on October 28, 2021, the Reference Portfolio Return will be calculated on the basis of the remaining Reference Shares, where the weighting of Inter Pipeline’s common shares will be reallocated proportionally to the market capitalization of the remaining Reference Shares, in accordance with the terms and conditions of the Prospectus.

Legal Notice

Portfolio

CompanyInitial PriceCurrent PriceReturnWeighting
Enbridge Inc.51.5547.97-6.94%31%
TC Energy Corporation69.4349.05-29.35%26%
Pembina Pipeline Corporation49.3347.98-2.73%22%
Keyera Corp33.6735.003.94%21%
Reference Portfolio Return-9.56%
Indicative Variable Interest0.00%
Call Threshold10.00%