/NOT FOR DISTRIBUTION TO U.S. NEWS WIRE SERVICES OR FOR DISSEMINATION IN THE UNITED STATES /
MONTREAL, Jan. 29, 2018 /CNW Telbec/ - National Bank of
Canada (the "Bank") today announced the filing of a prospectus supplement to a short form base
prospectus dated November 21, 2016 with the various securities regulatory authorities in all
provinces of Canada to establish a Medium Term Notes Program (the "MTN Program"). The Bank also
today announced that it intends to issue $750 million aggregate principal amount of 3.183% Medium
Term Notes due February 1, 2028 (Non-Viability Contingent Capital (NVCC)) constituting subordinated
indebtedness of the Bank through its MTN Program (the "Notes"). The Notes will be issued and sold through a dealer syndicate led
by National Bank Financial Inc.
The Notes are expected to be issued on February 1, 2018 and will mature on February 1, 2028. Interest on the Notes will be paid semi-annually at 3.183% per annum until February 1, 2023 and thereafter at a floating rate equal to the 3-month CDOR plus 0.72% payable quarterly.
The Bank may, at its option, with the prior approval of the Superintendent of Financial Institutions (Canada), redeem the Notes on or after February 1, 2023, in whole or in part,
at par plus accrued and unpaid interest on not less than 30 nor more than 60 days' prior notice to holders. Net proceeds from the
issuance of the Notes will be used for general corporate purposes and added to the Bank's capital base.
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 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 United
States.
Caution Regarding Forward-Looking Statements
This press release includes certain forward-looking statements. These statements are inherently subject to
significant risks, uncertainties and changes in circumstances, many of which are beyond the control of the Bank. 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 $246 billion in assets as at October 31, 2017, 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). Follow the Bank's activities at
nbc.ca or via social media such as
Facebook , LinkedIn and Twitter .
SOURCE National Bank of Canada
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