MONTREAL, May 16, 2016 /CNW Telbec/ - NBC Capital TrustTM (the "Trust"), an open-end trust established by National Bank of Canada, announced today its intention to redeem all of the outstanding 225,000 NBC Trust Capital Securities – Series 1 (the "NBC CapS – Series 1") on June 30, 2016 at a price per unit of $1,000 plus the unpaid distribution payable on the redemption date of June 30, 2016. Notice to the NBC CapS – Series 1 holders will be delivered in accordance with the terms outlined in the NBC CapS – Series 1 prospectus.
The rights of holders of the NBC CapS – Series 1 will be limited to receiving the redemption amount on June 30, 2016. Following the redemption, holders of NBC CapS – Series 1 will no longer be entitled to distributions or exercise any other rights.
This redemption will not have any effect on National Bank of Canada's common equity Tier 1 capital ratio.
Caution Regarding Forward-Looking Statements
This press release includes certain forward-looking statements. These forward-looking statements include the NBC Capital Trust's intentions regarding the redemption of the NBC CapS – Series 1 and the effect of such redemption on National Bank of Canada's common equity Tier 1 capital ratio. These statements are inherently subject to significant risks, uncertainties and changes in circumstances, many of which are beyond the control of NBC Capital Trust and National Bank of Canada. Except as required by law, NBC Capital 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 purposes.
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With $219 billion in assets as at January 31, 2016, National Bank of Canada, together with its subsidiaries, forms one of Canada's leading integrated financial groups. The Bank has close to 20,000 employees and is widely recognized as a top employer. The Bank's 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
For further information: (The telephone numbers provided below are for the exclusive use of journalists and other media representatives.) Claude Breton, Vice-President - Public Affairs, National Bank of Canada, Phone: 514 394-8644 ; Linda Boulanger, Vice-President - Investors Relations, National Bank of Canada, Phone: 514 394-0296