NBC Asset TrustTM (the “Trust”), a closed-end trust
established by National Bank of Canada, announced today its intention
to redeem all of the outstanding 400,000 Trust Capital Securities –
Series 1 (the “NBC CapS II – Series 1”) on June 30, 2018 at
a price per unit of $1,000. The redemption has been approved by the
Office of the Superintendent of Financial Institutions.
Notice to the NBC CapS II – Series 1 holders will be
delivered in accordance with the terms outlined in the NBC CapS
II – Series 1 prospectus. Separately from the redemption
amount, the final semi-annual distribution of $36.175 per NBC CapS II
– Series 1 will be paid in the usual manner on June 29, 2018.
Payment of the redemption amount will be held by Computershare
Investor Services Inc. and will be payable to holders of the NBC CapS
II – Series 1 as of July 3, 2018. The rights of holders of the NBC
CapS II – Series 1 will be limited to receiving the redemption amount
and following the redemption, they will no longer be entitled to
distributions or exercise any other rights.
of NBC CapS II – Series 1 should consult their own tax advisors for
advice with respect to the income tax consequences to them of such
redemption having regard to their particular circumstances.
Caution Regarding Forward-Looking Statements
This press release includes certain forward-looking statements.
These forward-looking statements include the NBC Asset Trust’s
intentions regarding the redemption of the NBC CapS II – Series 1.
These statements are inherently subject to significant risks,
uncertainties and changes in circumstances, many of which are beyond
the control of NBC Asset Trust and National Bank of Canada. Except
as required by law, NBC Asset Trust and National Bank of Canada do
not undertake to update any forward-looking statements, whether
written or oral, that may be made from time to time, by them or on
their behalf. The forward-looking information contained in this
press release is presented for the purpose of interpreting the
information contained herein and may not be appropriate for other
About National Bank of Canada
With $251 billion in assets as at January 31, 2018, National Bank of Canada, together
with its subsidiaries, forms one of Canada's leading integrated
financial groups. It has more than 21,000 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).
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