Product Description
The Deposit Notes provide a return over the 9-year maturity that is linked to the price performance, converted into Canadian dollars, of a notional Reference Portfolio comprised of common shares of 20 leading international companies.
The Deposit Notes are callable for redemption 4.5 years after the Issuance Date at $147.37 per Deposit Note for an annual compound return of approximately 9.00% as of the Bank Early Redemption Day. If the Bank does not exercise its right to call the Deposit Notes, the Variable Return at maturity is unlimited.
Note
Please be advised that, according to the Information Statement, the Low Point feature of the Deposit Notes advantageously sets the initial portfolio level at the lowest of the 10 Reference Portfolio Levels calculated on the Issuance Date and the nine subsequent monthly anniversary dates following the Issuance Date and you should have read as such on page 3 of the French version of the Greensheet and on the French version of the Client Summary. // On December 16, 2011 SABMiller plc. announced that it had completed the acquisition of all the shares in Foster’s Group Ltd pursuant to the implementation of the scheme of arrangement. As a result, as of December 16, 2011, the Reference Share Foster’s Group Ltd will be replaced by SABMiller plc.
SABMiller plc. is one of the world's biggest beer brewing companies with beer brewing activities or distribution in more than 60 countries across six continents. SABMiller's brand group include such important brands as Pilsner Urquell, Miller Genuine Draft (draught), Grolsch, Peroni Nastro Azzurro, and many other successful regional brands.
As of March 11, 2011 the initial price of SABMiller plc. shares were set at $1766.384.
On October 10, 2016, Anheuser-Busch InBev SA/NV (“ABI”) announced the completion of the combination with SABMiller plc (“SAB”) triggering a Substitution Event in connection with the Reference Portfolio of the Deposit Notes as per the terms of the Information Statement. As a result of such event, we hereby advise the Holders of the Deposit Notes that, as of October 5, 2016, the common shares of SAB have been replaced with the common shares of ABI as a Reference Share in the Reference Portfolio of the Deposit Notes in accordance with the terms and conditions of the Information Statement. All calculations in respect of the Reference Portfolio Return that were based on the price of the common shares of SAB will be, from October 5, 2016 at the close of trading until maturity, based on the price of the common shares of ABI.