Extendible Step-Up Deposit Notes, Series 11

Current price: $100.00
As of 26-Oct-2020

General Information

Issuer:
NBC
FundSERV Code:
NBC3433
ISM Code:
V79258

Product Description

The Notes offer pre-determined step-up coupons (the “Coupons”). The Issuer may, at its option, extend the Notes beginning on the Initial Maturity Date and annually thereafter (each referred to as an “Extended Maturity Date”) up until the final maturity date (the “Final Maturity Date”) pursuant to the Extension Feature described below. The Notes pay semi-annual Coupons. All payments under the Notes will be in Canadian dollars.

Highlights

  • Coupons: Coupons will be paid semi-annually in arrears on the 26th day of April and October, subject to the Extension Feature. The first Coupon Payment Date will be April 26th 2016.
  • Initial Maturity Date: October 26, 2016
  • Extended Maturity Dates: Each October 26th beginning on October 26, 2017 up to and including April 26, 2024.
  • Final Maturity Date:  October 27, 2025
  • Extension Feature: The Issuer may, at its option, on the Initial Maturity Date or on an Extended Maturity Date, extend the Maturity Date of the Notes to the next subsequent Extended Maturity Date or to the Final Maturity Date if applicable, at the interest rate set out below in respect of the relevant Extension Period (as defined below), but in no event beyond the Final Maturity Date (the “Extension Feature”).
  • Secondary Market: National Bank Financial Inc., as market maker, intends to maintain until the Maturity Date, under normal market conditions, a daily secondary market for the Notes.
  • The Notes will not constitute deposits that are insured under the Canada Deposit Insurance Corporation Act.
  • Eligible for RRSPs, RRIFs, RESPs, RDSPs, DPSPs and TFSAs.

Dates

Issue Date:
26-Oct-2015
Maturity date:
27-Oct-2025
Note term:
10.0 years
Valuation Date:
22-Oct-2025
Call Val. Date 1:
12-Oct-2016
Call Val. Date 2:
12-Oct-2017
Call Val. Date 3:
12-Oct-2018
Call Val. Date 4:
11-Oct-2019
Call Val. Date 5:
09-Oct-2020
Call Val. Date 6:
12-Oct-2021
Call Val. Date 7:
12-Oct-2022
Call Val. Date 8:
12-Oct-2023
Call Val. Date 9:
11-Oct-2024
Call Val. Date 10:
10-Oct-2025
Initial Maturity Date:
26-Oct-2016

Price and Historical Values

Last Updated Date:
26-Oct-2020
Current Price:
$100.00
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

Clean PriceAccrued interestDirty price
Fixed Coupon Payment Dates (Initial Maturity Date)Coupon
26-Apr-16$1.275
26-Oct-16$1.275
Fixed Coupon Payment Dates (Extension Period) Coupon
26-Apr-17$1.275
26-Oct-17$1.275
26-Apr-18$1.300
26-Oct-18$1.300
26-Apr-19$1.300
28-Oct-19$1.300
27-Apr-20$1.325
26-Oct-20$1.325
26-Apr-21$1.350
26-Oct-21$1.350
26-Apr-22$1.375
26-Oct-22$1.375
26-Apr-23$1.500
26-Oct-23$1.500
26-Apr-24$1.625
28-Oct-24$1.625
28-Apr-25$1.750
27-Oct-25$1.750
Called on October 26, 2020