NBC Auto Callable Contingent Income Note Securities (Maturity-Monitored Barrier) linked to a portfolio of Canadian banks, Class F, due on October 26, 2027

Current price: $105.13
As of 26-Oct-2021

General Information

Issuer:
NBC
FundSERV Code:
NBC21412
ISM Code:
V46650
Ticker Symbol:
BMO, BNS, CM, RY, TD
Educational Summary:
Link

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 a coupon payment on each Coupon Payment Date.
  • Coupon Payment Threshold: -30%
  • Call Threshold: 5% (starting after 12 months).
  • Potential Coupon Payment: $10.25 p.a. paid semi-annually.
  • Participation Factor: 0%
  • 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:
26-Oct-2020
Maturity date:
26-Oct-2027
Note term:
7.0 years
Call Val. Date 1:
19-Oct-2021
Call Val. Date 2:
19-Apr-2022
Call Val. Date 3:
19-Oct-2022
Call Val. Date 4:
19-Apr-2023
Call Val. Date 5:
19-Oct-2023
Call Val. Date 6:
19-Apr-2024
Call Val. Date 7:
21-Oct-2024
Call Val. Date 8:
21-Apr-2025
Call Val. Date 9:
20-Oct-2025
Call Val. Date 10:
20-Apr-2026
Call Val. Date 11:
19-Oct-2026
Call Val. Date 12:
19-Apr-2027
Final Valuation Date:
19-Oct-2027

Price and Historical Values

Last Updated Date:
26-Oct-2021
Current Price:
$105.13
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 January 24, 2020, Encana Corporation (TSX: ECA) (“Encana”) announced the completion of its reorganization, including the company rebranding under the name Ovintiv Inc. and the establishment of its corporate domicile in the United-States (NYSE: OVV). 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, as of the closing of the markets on January 24, 2020, the common shares of Encana have been replaced by the common shares of ARC Resources Ltd. (TSX: ARX) 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 Encana are, from this date until maturity, based on the price of the common shares of ARC Resources Ltd.

Legal Notice

Portfolio

CompanyInitial PriceFinal PriceReturnWeighting
Bank of Montreal83.65133.3759.44%20%
Bank of Nova Scotia56.6680.9842.92%20%
Canadian Imperial Bank of Commerce50.55147.97192.72%20%
Royal Bank of Canada94.50131.5639.22%20%
Toronto-Dominion Bank59.7788.6848.37%20%
Reference Portfolio Return47.26%
Call Threshold5.00%
Called on Oct 26, 2021