MONTREAL, May 22, 2018 /CNW Telbec/ - 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.
The holders 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 purposes.
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). 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: Linda Boulanger, Vice-President - Investors Relations, National Bank of Canada, Phone: 514-394-0296; Claude Breton, Vice-President - Public Affairs, National Bank of Canada, Phone: 514-394-8644