National Bank of Canada announces the redemption for cash of 500 million $
Series 6 Medium Term Notes
MONTREAL, Sept. 20, 2013 /CNW Telbec/ - National Bank of Canada (the "Bank")
announced today its intention to redeem, on November 15, 2013, for the purpose
of cancellation, all $500,000,000 of its Series 6 Medium Term Notes
outstanding (subordinated indebtedness) due November 15, 2018 (the "Notes").
In accordance with their terms, the Notes will be redeemed at 100% of their
principal amount on November 15, 2013. The regular interest due in respect of
the Notes on November 15, 2013 will be paid in the normal course, leaving no
accrued and unpaid interest on the Notes at the time of their redemption.
Interest on the Notes will cease to accrue from and after the redemption date.
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
The notice of redemption will be delivered to the holders of the Notes, in
accordance with the Notes' conditions.
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 Series 6 Medium term 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 $187 billion in assets as at July 31, 2013, National Bank of Canada
(www.nbc.ca) together with its subsidiaries, forms one of Canada's leading
integrated financial groups, and has been named among the 20 strongest banks
in the world by Bloomberg Markets magazine. The Bank has close to 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
SOURCE National Bank of Canada
(The telephone numbers provided below are for the exclusive use of
journalists, other media representatives and shareholders.):
Claude Breton Assistant Vice-President, Public Affairs National Bank of Canada
Hélène Baril Senior Director, Investor Relations National Bank of Canada
To view this news release in HTML formatting, please use the following URL:
CO: National Bank of Canada
NI: FIN ACC FIN
-0- Sep/20/2013 19:23 GMT
Press spacebar to pause and continue. Press esc to stop.