NBC Auto Callable Note Securities (Maturity-Monitored Barrier) linked to a portfolio of North American Telecommunications companies, due on January 11, 2027

Current price: $96.49
As of 26-May-2022

General Information

Issuer:
NBC
FundSERV Code:
NBC24119
ISM Code:
V458P2
Ticker Symbol:
BCE, T, VZ
Educational Summary:
Link

Dates

Issue Date:
07-Jan-2022
Maturity date:
11-Jan-2027
Note term:
5.0 years
Call Valuation Date 1:
03-Jan-2023
Call Valuation Date 2:
02-Jan-2024
Call Valuation Date 3:
02-Jan-2025
Call Valuation Date 4:
02-Jan-2026
Final Valuation Date:
04-Jan-2027

Highlights

  • 5.01-year term.
  • Linked to North American Telecommunications companies.
  • Fixed Return applicable to the Call Valuation Dates if the Reference Portfolio Return is higher than the Call Threshold: Year 1: 6.40%, Year 2: 12.80%, Year 3: 19.20%, Year 4: 25.60%, Year 5: 32%
  • Call Threshold: Year 1: 0%, Year 2: -5%, Year 3: -10%, Year 4: -15%, Year 5: -20%.
  • Variable Return is applicable where the Reference Portfolio Return is greater than the Fixed Return applicable to the given Call Valuation Date or Final Valuation Date, and the Variable Return will be equal to the product of (i) the Participation Factor and (ii) the amount by which the Reference Portfolio Return exceeds such Fixed Return.
  • Participation Factor: 5%
  • 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 + Fixed Return applicable to the given Call Valuation Date + Variable Return]; or
  • If the Note Securities are not automatically called and the Reference Portfolio Return is equal to or higher than the Call Threshold on the Final Valuation Date, the Maturity Redemption Payment will be equal to $100 x [1 + Fixed Return applicable to the Final Valuation Date + Variable Return]; or
  • If the Note Securities are not automatically called and the Reference Portfolio Return is lower than the Call Threshold 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 lower than the Call Threshold and is 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.

Price and Historical Values

Last Updated Date:
26-May-2022
Current Price:
$96.49
Current ETC:
$0.90
Price Net of ETC:
$95.59
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 April 5, 2022, AT&T Inc. (NYSE: T) (“AT&T”) completed the transaction to spin-off its WarnerMedia business. AT&T shareholders received common shares of Warner Bros. Discovery, Inc. (Nasdaq: WBD) (“WBD”). WBD is the result of the transaction to combine WarnerMedia with Discovery, Inc. (Nasdaq: DISCA, DICSB, DISCK). This event triggered a Potential Adjustment Event as per the terms and conditions of the market-linked GICs in respect of the common shares of AT&T, a Reference Share in the Reference Portfolio of the market-linked GICs. The Initial Value of the common shares of AT&T was adjusted accordingly as of the closing of the markets on April 11, 2022.

Legal Notice

Portfolio

CompanyInitial PriceCurrent PriceReturnWeighting
BCE Inc.65.8768.393.83%33%
AT&T Inc.19.8421.327.44%33%
Verizon54.2450.99-5.99%33%
Reference Portfolio Return1.76%
Indicative Variable Interest6.40%
Call Threshold0.00%