NBC Auto Callable Contingent Income Note Securities (Maturity-Monitored Barrier) linked to a portfolio of American banks (USD), due on July 15, 2027

Current price: N/A
As of

General Information

Issuer:
NBC
FundSERV Code:
NBC21250
ISM Code:
V46374
Ticker Symbol:
BAC, C, JPM, MS, WFC

Dates

Issue Date:
08-Jul-2020
Maturity date:
15-Jul-2027
Note term:
7.0 years
Call Valuation Date 1:
08-Jul-2021
Call Valuation Date 2:
10-Jan-2022
Call Valuation Date 3:
08-Jul-2022
Call Valuation Date 4:
09-Jan-2023
Call Valuation Date 5:
10-Jul-2023
Call Valuation Date 6:
08-Jan-2024
Call Valuation Date 7:
08-Jul-2024
Call Valuation Date 8:
08-Jan-2025
Call Valuation Date 9:
08-Jul-2025
Call Valuation Date 10:
08-Jan-2026
Call Valuation Date 11:
08-Jul-2026
Call Valuation Date 12:
08-Jan-2027
Final Valuation Date:
08-Jul-2027

Highlights

  • 7-year term.
  • Linked to American banks.
  • 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 a coupon payment on each Coupon Payment Date.
  • Coupon Payment Threshold: -20%
  • Call Threshold: 10% (starting after 12 months).
  • Potential Coupon Payment: US$15.00 p.a. paid semi-annually.
  • Maturity Barrier: -20%.
  • 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 US$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 US$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 US$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 US$100 x [1 + Reference Portfolio Return].
  • Eligible for RRSPs, RRIFs, RESPs, RDSPs, DPSPs and TFSAs.
  • Daily secondary market available under normal market conditions.
Legal Notice

Portfolio

CompanyInitial PriceCurrent PriceReturnWeighting
Bank of America Corporation0.0023.2920%
Citigroup Inc.0.0050.5520%
JPMorgan Chase & Co.0.0092.6620%
Morgan Stanley0.0047.7920%
Wells Fargo0.0025.3420%
Reference Portfolio Return0.00%
Call Threshold10.00%