NBC Auto Callable Growth Flex GIC, series 2

Current price: N/A
As of

General Information

Issuer:
NBC
FundSERV Code:
NBC26888
ISM Code:
Z8052E
Ticker Symbol:
BMO, BNS, CM, RY, TD

Dates

Issue Date:
02-Oct-2020
Maturity date:
01-Oct-2027
Note term:
7.0 years
Call Valuation Date 1:
25-Sep-2025
Final Valuation Date:
24-Sep-2027

Product Description

The NBC Fixed ROC Deposit Notes linked to a portfolio of Canadian banks, are issued by National Bank of Canada. The Principal Amount of your Deposit is fully guaranteed by the Bank, provided the Deposits are held to maturity. The Deposits aim to provide you with predetermined periodic return of capital payments (partial repayments of principal) over the term of the Deposits, and an additional return at maturity linked to the performance of an equally weighted portfolio of the common shares of 5 Canadian Banks.

Highlights

  • 7-year term.
  • Linked to Canadian banks.
  • Principal amount fully protected at maturity by National Bank of Canada.
  • Fixed Return applicable to the Call Valuation Dates if the Reference Portfolio Return is higher than the Call Threshold: 60M: 16.50%
  • Call Threshold: 0%.
  • 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: 100%
  • If the Reference Portfolio Return is equal to or higher than the Call Threshold on a Call Valuation Date, the Deposits will be automatically called on the applicable Call Date and the Maturity Redemption Payment will be equal to the Principal Amount x [1 + Fixed Return applicable to the given Call Valuation Date + Variable Return];
  • If the Deposits are not automatically called, the Maturity Redemption Payment will be equal to the Principal Amount x [1 + Variable Return].
  • Eligible for CDIC Deposit Insurance.
  • Eligible for RRSPs, RRIFs, RESPs, RDSPs, DPSPs and TFSAs.
  • Can be sold back to the Bank on a daily basis subject to normal market conditions. An investor who sells the Deposit prior to maturity may receive less than the Principal Amount per Deposit.
Legal Notice

Portfolio

CompanyInitial ValueCurrent PriceReturn
Bank of Montreal0.0079.59000
Bank of Nova Scotia0.0055.97000
Canadian Imperial Bank of Commerce0.00101.20000
Royal Bank of Canada0.0095.56000
Toronto-Dominion Bank0.0062.37000
Reference Portfolio Return
Basket Level