NBC Auto Callable Contingent Income Note Securities (Maturity-Monitored Barrier) linked to a portfolio of Canadian pipeline companies, Class F, due on February 10, 2031

Current price: $104.88
As of 10-Feb-2025

General Information

Issuer:
NBC
FundSERV Code:
NBC27443
ISM Code:
V46HB4
Ticker Symbol:
ENB, KEY, PPL, TRP
Educational Summary:
Link

Highlights

  • 7-year term.
  • Linked to Canadian pipeline companies.
  • Potential coupon payments: provided that the Reference Portfolio Return is equal to or greater 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: -30%
  • Call Threshold: 5% (starting after 12 months).
  • Potential Coupon Payment: $9.75 p.a. paid semi-annually.
  • 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 + 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:
09-Feb-2024
Maturity date:
10-Feb-2031
Note term:
7.0 years
Call Val. Date 1:
03-Feb-2025
Call Val. Date 2:
01-Aug-2025
Call Val. Date 3:
02-Feb-2026
Call Val. Date 4:
31-Jul-2026
Call Val. Date 5:
02-Feb-2027
Call Val. Date 6:
30-Jul-2027
Call Val. Date 7:
02-Feb-2028
Call Val. Date 8:
01-Aug-2028
Call Val. Date 9:
02-Feb-2029
Call Val. Date 10:
01-Aug-2029
Call Val. Date 11:
04-Feb-2030
Call Val. Date 12:
01-Aug-2030
Final Valuation Date:
03-Feb-2031

Price and Historical Values

Last Updated Date:
10-Feb-2025
Current Price:
$104.88
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 1, 2024, TC Energy Corporation (TSX, NYSE: TRP) (“TC Energy”) separated its Liquids Pipelines business to form South Bow Corporation (TSX, NYSE: SOBO) (“South Bow”), resulting into two independent publicly traded companies. This event triggered a Potential Adjustment Event in connection with the Reference Portfolio of the Note Securities, as per the terms and conditions of the Prospectus. To reflect the impact of such transaction, the Calculation Agent made adjustments to the Reference Portfolio by splitting the weight of the common shares of TC Energy. In particular, the weight of TC Energy in the Reference Portfolio was rebalanced and SOBO was added to the Reference Portfolio. As such, the Closing Level on the Issuance Date of the common shares of TC Energy and SOBO was adjusted as of the closing of the markets on October 1, 2024.

Legal Notice

Portfolio

CompanyInitial PriceFinal PriceReturnWeighting
Enbridge Inc.47.7462.5731.06%30%
Pembina Pipeline Corporation46.3151.1710.49%30%
TC Energy Corporation48.3265.9736.53%27%
Keyera Corp32.5240.5424.66%10%
South Bow Corporation23.6134.4245.79%3%
Reference Portfolio Return26.14%
Call Threshold5.00%
Called on Feb 10, 2025