NBC Auto Callable Contingent Income Note Securities (Maturity-Monitored Barrier) linked to the common shares of Inter Pipeline Ltd., due on January 27, 2027

Current price: $103.00
As of 27-Jan-2025

General Information

Issuer:
NBC
FundSERV Code:
NBC21045
ISM Code:
V45937
Ticker Symbol:
IPL
Educational Summary:
Link

Highlights

  • 7-year term.
  • Linked to Inter Pipeline Ltd..
  • 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: -25%
  • Call Threshold: 5% (starting after 6 months).
  • Potential Coupon Payment: $12.00 p.a. paid quarterly.
  • Participation Factor: 0%
  • Maturity Barrier: -25%.
  • 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:
27-Jan-2020
Maturity date:
27-Jan-2027
Note term:
7.0 years
Call Val. Date 1:
20-Jul-2020
Call Val. Date 2:
20-Oct-2020
Call Val. Date 3:
20-Jan-2021
Call Val. Date 4:
20-Apr-2021
Call Val. Date 5:
20-Jul-2021
Call Val. Date 6:
20-Oct-2021
Call Val. Date 7:
20-Jan-2022
Call Val. Date 8:
20-Apr-2022
Call Val. Date 9:
20-Jul-2022
Call Val. Date 10:
20-Oct-2022
Call Val. Date 11:
20-Jan-2023
Call Val. Date 12:
20-Apr-2023
Call Val. Date 13:
20-Jul-2023
Call Val. Date 14:
20-Oct-2023
Call Val. Date 15:
22-Jan-2024
Call Val. Date 16:
22-Apr-2024
Call Val. Date 17:
22-Jul-2024
Call Val. Date 18:
21-Oct-2024
Call Val. Date 19:
20-Jan-2025
Call Val. Date 20:
17-Apr-2025
Call Val. Date 21:
21-Jul-2025
Call Val. Date 22:
20-Oct-2025
Call Val. Date 23:
20-Jan-2026
Call Val. Date 24:
20-Apr-2026
Call Val. Date 25:
20-Jul-2026
Call Val. Date 26:
20-Oct-2026
Final Valuation Date:
20-Jan-2027

Price and Historical Values

Last Updated Date:
27-Jan-2025
Current Price:
$103.00
Current ETC:
$0.00
Price Net of ETC:
$103.00
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.

Note

On October 28, 2021, Brookfield Infrastructure Partners L.P. announced the completion of its acquisition of Inter Pipeline Ltd. (TSX: IPL) (“Inter Pipeline”). It is anticipated that the Inter Pipeline shares will be delisted from the Toronto Stock Exchange. This event triggered a Substitution Event in connection with the Reference Portfolio of the Note Securities as per the terms and conditions of the Prospectus. As such, we hereby advise the Holders of the Note Securities that the common shares of Inter Pipeline have been replaced by the common shares of Enbridge Inc. (TSX: ENB) as a Reference Asset in the Reference Portfolio of the Note Securities, in accordance with the terms and conditions of the Prospectus. As a result, all calculations in respect of the Reference Portfolio Return that were based on the price of the common shares of Inter Pipeline are, from the closing of the markets on October 28, 2021, based on the price of the common shares of Enbridge Inc.

Legal Notice

Portfolio

CompanyInitial PriceFinal PriceReturnWeighting
Enbridge Inc.57.8263.9310.58%100%
Reference Portfolio Return10.58%
Barrier43.36158
Call Threshold5.00%
Called on Jan 27, 2025Call Threshold Value60.706212