NBC Auto Callable Note Securities (Maturity-Monitored Barrier) linked to a portfolio of Canadian financial institutions, due on January 13, 2027

Current price: $115.78
As of 13-Jan-2022

General Information

Issuer:
NBC
FundSERV Code:
NBC23535
ISM Code:
V45862
Ticker Symbol:
BMO, BNS, CM, GWO, MFC, POW, PWF, RY, SLF, TD
Educational Summary:
Link

Highlights

  • 7-year term.
  • Linked to Canadian financial institutions.
  • Fixed Return applicable to the Call Valuation Dates if the Reference Portfolio Return is higher than the Call Threshold: Year 1: 7.65%, Year 2: 15.30%, Year 3: 22.95%, Year 4: 30.60%, Year 5: 38.25%, Year 6: 45.90%, Year 7: 53.55%
  • Call Threshold: Year 1: 0%, Year 2: -5%, Year 3: -5%, Year 4: -5%, Year 5: -10%, Year 6: -10%, Year 7: -15%.
  • Variable Return is applicable where the Reference Portfolio Return is greater than the Fixed Return applicable to the given Call Valuation Date or Final Valuation Date, and the Variable Return will be equal to the product of (i) the Participation Factor and (ii) the amount by which the Reference Portfolio Return exceeds such Fixed Return.
  • Participation Factor: 5%
  • Maturity Barrier: -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 + Fixed Return applicable to the given Call Valuation Date + Variable Return]; or
  • If the Note Securities are not automatically called and the Reference Portfolio Return is equal to or higher than the Call Threshold on the Final Valuation Date, the Maturity Redemption Payment will be equal to $100 x [1 + Fixed Return applicable to the Final Valuation Date + Variable Return]; or
  • If the Note Securities are not automatically called and the Reference Portfolio Return is lower than the Call Threshold 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 lower than the Call Threshold and is 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-Jan-2020
Maturity date:
13-Jan-2027
Note term:
7.0 years
Call Val. Date 1:
06-Jan-2021
Call Val. Date 2:
06-Jan-2022
Call Val. Date 3:
06-Jan-2023
Call Val. Date 4:
08-Jan-2024
Call Val. Date 5:
06-Jan-2025
Call Val. Date 6:
06-Jan-2026
Final Valuation Date:
06-Jan-2027

Price and Historical Values

Last Updated Date:
13-Jan-2022
Current Price:
$115.78
Current ETC:
$0.00
Price Net of ETC:
$115.78
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 February 13, 2020, Power Corporation of Canada (TSX: POW) (“Power Corporation”) and Power Financial Corporation (TSX: PWF) (“Power Financial”) announced the completion of a reorganization transaction pursuant to which Power Corporation acquired all the common shares of Power Financial held by holders other than Power Corporation and its wholly owned subsidiaries. This event triggered a Substitution Event in connection with the Note Securities as per the terms of the Prospectus. As such, we hereby advise the Holders of the Note Securities that, as of the closing of the markets on February 18, 2020, the common shares of Power Financial have been replaced by the common shares of Power Corporation as a Reference Asset in the Reference Portfolio of the Note Securities in accordance with the terms and conditions of the Prospectus. As a result, all calculations in respect of the Reference Portfolio Return that were based on the price of the common shares of Power Financial are, from February 18, 2020 until the Maturity Date, based on the price of the common shares of Power Corporation.

Legal Notice

Portfolio

CompanyInitial PriceFinal PriceReturnWeighting
Manulife Financial Corporation27.5525.28-8.24%15%
Bank of Montreal102.20141.8338.78%12%
Bank of Nova Scotia72.2891.2526.25%12%
Canadian Imperial Bank of Commerce54.08154.72186.12%12%
Royal Bank of Canada104.71139.8133.52%12%
Toronto-Dominion Bank73.14100.5637.49%12%
Power Corporation of Canada33.1142.0226.91%10%
Sun Life Financial Inc.62.5570.7813.16%10%
Great-West Lifeco Inc.33.8038.1512.87%5%
Reference Portfolio Return24.91%
Call Threshold-5.00%
Called on Jan 13, 2022