MONTREAL, Dec. 7, 2022 /CNW Telbec/ - National Bank of Canada ("National Bank") today announced its intention to redeem, on February 1, 2023, $750,000,000 of 3.183% medium term notes (Non-Viability Contingent Capital (NVCC)) due February 1, 2028 (the "Notes"), at a redemption price which is equal to the outstanding principal amount, together with all accrued and unpaid interest.
The redemption has been approved by the Office of the Superintendent of Financial Institution. Formal notice will be given to holders of Notes in accordance with the terms thereof.
The redemption of Notes is part of National Bank's ongoing management of its regulatory capital.
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 National Bank, including the obtaining of regulatory approval required to complete the proposed redemption. Except as required by law, National 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 $404 billion in assets as at October 31, 2022, National Bank of Canada, together with its subsidiaries, forms one of Canada's leading integrated financial groups. The Bank has more than 29,000 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 atnbc.ca or via social media such as Facebook, LinkedIn and Twitter.
SOURCE National Bank of Canada
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