/NOT FOR DISTRIBUTION TO U.S. NEWS WIRE
SERVICES OR FOR DISSEMINATION IN THE
MONTREAL, April 21, 2021 /CNW Telbec/ - National Bank of
Canada ("National Bank") today
announced the closing of its previously announced offering of
$500 million of 4.05% Limited
Recourse Capital Notes, Series 2 (Non-Viability Contingent Capital
(NVCC)) (Subordinated Indebtedness) (the "Notes").
The Notes were offered by a group of agents led by National Bank
Concurrently with the issuance of the Notes, National Bank has
also issued Non-Cumulative 5-Year Fixed Rate Reset First Preferred
Shares, Series 45 (Non-Viability Contingent Capital (NVCC))
(the "Series 45 Preferred Shares") to be held by
Computershare Trust Company of Canada as trustee for NBC LRCN Limited
Recourse Trust (the "Limited Recourse Trust"). In case of
non-payment of interest on or principal of the Notes when due, the
recourse of each Note holder will be limited to that holder's
proportionate share of the Limited Recourse Trust's assets in
respect of the Notes, which will consist of Series 45 Preferred
Shares except in limited circumstances.
The Notes and the Series 45 Preferred Shares were issued under a
prospectus supplement dated April 15,
2021 to National Bank's short form base shelf prospectus
dated August 17, 2020.
The Notes have not been and will not be registered under the
U.S. Securities Act of 1933, as amended, or under any state
securities laws, and may not be offered, sold, directly or
indirectly, or delivered within the
United States of America and its territories and possessions
or to, or for the account or benefit of, United States persons except in certain
transactions exempt from the registration requirements of such Act.
This press release shall not constitute an offer to sell or a
solicitation to buy securities in the
About National Bank of Canada
With $344 billion
in assets as at January 31,
2021, National Bank of Canada, together with its subsidiaries, forms
one of Canada's leading integrated
financial groups. It has more than 26,000 employees in
knowledge-intensive positions and has been recognized numerous
times as a top employer and for its commitment to diversity. Its
securities are listed on the Toronto Stock Exchange (TSX: NA).
Follow the Bank's activities at nbc.ca or via social
as Facebook, LinkedIn and Twitter.
SOURCE National Bank of Canada