NBC Auto Callable Contingent Memory Income Note Securities (Maturity-Monitored Barrier) linked to a portfolio of Canadian financial institutions, Class F, due on November 13, 2026

Current price: $103.11
As of 14-Feb-2020

General Information

Issuer:
NBC
FundSERV Code:
NBC20138
ISM Code:
V45613
Ticker Symbol:
BMO CT Equity, BNS CT Equity, CM CT Equity, GWO CT Equity, MFC CT Equity, POW CT Equity, PWF CT Equity, RY CT Equity, SLF CT Equity, TD CT Equity

Dates

Issue Date:
29-Oct-2019
Maturity date:
13-Nov-2026
Note term:
7.1 years
Call Valuation Date 1:
22-Apr-2021
Call Valuation Date 2:
22-Oct-2021
Call Valuation Date 3:
22-Apr-2022
Call Valuation Date 4:
24-Oct-2022
Call Valuation Date 5:
24-Apr-2023
Call Valuation Date 6:
23-Oct-2023
Call Valuation Date 7:
22-Apr-2024
Call Valuation Date 8:
22-Oct-2024
Call Valuation Date 9:
22-Apr-2025
Call Valuation Date 10:
22-Oct-2025
Call Valuation Date 11:
22-Apr-2026
Final Valuation Date:
22-Oct-2026

Highlights

  • 7.08-year term.
  • Linked to Canadian financial institutions.
  • 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 $6.90 (equivalent to 6.9% 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: 10% (starting after 18 months).
  • Potential Coupon Payment: $6.90 p.a. paid semi-annually.
  • 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.

Price and Historical Values

Last Updated Date:
14-Feb-2020
Current Price:
$103.11
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.

Legal Notice

Portfolio

CompanyInitial PriceCurrent PriceReturnWeighting
Manulife Financial Corporation24.7026.115.71%15%
Bank of Montreal98.29101.813.58%12%
Bank of Nova Scotia75.5574.73-1.09%12%
Canadian Imperial Bank of Commerce112.73110.05-2.38%12%
Royal Bank of Canada106.04108.302.13%12%
Toronto-Dominion Bank75.2275.290.09%12%
Sun Life Financial Inc.59.0266.4412.57%10%
Great-West Lifeco Inc.31.1134.7511.70%5%
Power Corporation of Canada30.5234.3812.65%5%
Power Financial Corp30.7936.0016.92%5%
Reference Portfolio Return4.46%
Indicative Variable Interest0.00%
Call Threshold10.00%