MONTREAL, Oct. 30, 2014 /CNW Telbec/ - The National Bank of Canada (the
"Bank") announces today its intention to redeem on December 22, 2014
all of its issued and outstanding Series 3 Medium Term Notes
(subordinated indebtedness) due December 22, 2019 (the "Notes").
Pursuant to the Notes' terms, on December 22, 2014, the Bank may, at its
option, redeem for cash the Notes at a price equal to their principal
amount together with any accrued and unpaid interest to but excluding
the date of redemption. The regular interest due in respect of the Notes on December 22, 2014
will be paid in the usual manner to holders, leaving no accrued and
unpaid interest on the Notes at the time of their redemption.
The redemption of the Notes is subject to the approval of the Office of
the Superintendent of Financial Institutions. Funded solely from the
Bank's general funds, this redemption is part of the Bank's ongoing
management of its regulatory capital.
A formal notice will be issued to the holders of the Notes in accordance
with the Notes' terms.
The Bank recommends that holders of the Notes consult with their tax
advisors to determine the appropriate treatment and impact of the
redemptions.
Caution Regarding Forward-Looking Statements
This press release includes certain forward-looking statements. These
forward-looking statements include the Bank's intentions regarding the
redemption of the Notes. These statements are inherently subject to
significant risks, uncertainties and changes in circumstances, many of
which are beyond the control of the Bank, including the obtaining of
regulatory approval required to complete the proposed redemption.
Except as required by law, the Bank does not undertake to update any
forward-looking statements, whether written or oral, that may be made
from time to time, by it or on its 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 purposes.
About National Bank of Canada
With $199 billion in assets as at July 31, 2014, National Bank of Canada
(www.nbc.ca), together with its subsidiaries, forms one of Canada's leading
integrated financial groups. The Bank has more than 20,000 employees
and is widely recognized as a top employer. Its securities are listed
on the Toronto Stock Exchange (TSX: NA). Follow the Bank's activities
via social media and learn more about its extensive community
involvement at clearfacts.ca and commitment.nationalbank.ca.
SOURCE National Bank of Canada
(The telephone number provided below is for the exclusive use of journalists and other media representatives.)
Claude Breton
Vice-President - Public Affairs and Investor Relations
National Bank of Canada
Tel.: 514-394-8644
Hélène Baril
Senior Director, Investor Relations
National Bank of Canada
Tel.: 514-394-0296
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