NBC Auto Callable Contingent Memory Income Note Securities (Maturity-Monitored Barrier) linked to a portfolio of Canadian banks, Class F, due on July 12, 2027

Current price: N/A
As of

General Information

Issuer:
NBC
FundSERV Code:
NBC20194
ISM Code:
V46336
Ticker Symbol:
BMO, BNS, CM, RY, TD

Dates

Issue Date:
07-Jul-2020
Maturity date:
12-Jul-2027
Note term:
7.0 years
Call Valuation Date 1:
04-Jan-2021
Call Valuation Date 2:
05-Jul-2021
Call Valuation Date 3:
04-Jan-2022
Call Valuation Date 4:
04-Jul-2022
Call Valuation Date 5:
03-Jan-2023
Call Valuation Date 6:
30-Jun-2023
Call Valuation Date 7:
03-Jan-2024
Call Valuation Date 8:
03-Jul-2024
Call Valuation Date 9:
03-Jan-2025
Call Valuation Date 10:
03-Jul-2025
Call Valuation Date 11:
05-Jan-2026
Call Valuation Date 12:
03-Jul-2026
Call Valuation Date 13:
04-Jan-2027
Final Valuation Date:
05-Jul-2027

Highlights

  • 7-year term.
  • Linked to Canadian banks.
  • 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, on the relevant Coupon Payment Date, the coupon payment which shall be computed by reference to both the coupon of $10.00 (equivalent to 10% of the principal amount of each note security) and the coupon Variable Return
  • Memory feature: coupon payments include any previously unpaid coupon payments.
  • Coupon Payment Threshold: -30%
  • Call Threshold: 5%.
  • Potential Coupon Payment: $10.00 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.
Legal Notice

Portfolio

CompanyInitial PriceCurrent PriceReturnWeighting
Bank of Montreal0.0072.2520%
Bank of Nova Scotia0.0057.0020%
Canadian Imperial Bank of Commerce0.0091.1220%
Royal Bank of Canada0.0092.1720%
Toronto-Dominion Bank0.0060.6520%
Reference Portfolio Return0.00%
Call Threshold5.00%