Business
National Bank of Canada Announces Conversion Rights and Dividend Rates for First Preferred Shares, Series 30 and 31 (NVCC)
National Bank of Canada Announces Conversion Rights and Dividend Rates for First Preferred Shares...
About this update from National Bank Of Canada
[{"type":"text","content":"\n \n \n \n National Bank of Canada Announces Conversion Rights and Dividend Rates for First Preferred Shares, Series 30 and 31 (NVCC)\n \n \n /* Style Definitions */\nspan.prnews_span\n{\nfont-size:8pt;\nfont-family:\"Arial\";\ncolor:black;\n}\na.prnews_a\n{\ncolor:blue;\n}\nli.prnews_li\n{\nfont-size:8pt;\nfont-family:\"Arial\";\ncolor:black;\n}\np.prnews_p\n{\nfont-size:0.62em;\nfont-family:\"Arial\";\ncolor:black;\nmargin:0in;\n}\n.prngen2{\nPADDING-RIGHT:0.17em; PADDING-LEFT:0.17em; VERTICAL-ALIGN: TOP; BORDER-TOP:black 0pt; BORDER-RIGHT:black 0pt; BORDER-BOTTOM:black 0pt; BORDER-LEFT:black 0pt\n}\n.prngen3{\nPADDING-RIGHT:0.17em; PADDING-LEFT:0.17em; VERTICAL-ALIGN: BOTTOM; BORDER-TOP:black 0pt; BORDER-RIGHT:black 0pt; BORDER-BOTTOM:black 0pt; BORDER-LEFT:black 0pt\n}\n.prnml4{\nMARGIN-TOP:0em; MARGIN-RIGHT:0em; MARGIN-BOTTOM:0em; MARGIN-LEFT:0.33em !IMPORTANT\n}\n.prnbcc{\nBORDER-COLLAPSE: COLLAPSE\n}\n.prntac{\nTEXT-ALIGN: CENTER\n}\n \n \n \n \n \n \n Canada NewsWire\n \n \n \n \n \n \n /NOT FOR DISTRIBUTION TO U.S. NEWS WIRE SERVICES OR FOR DISSEMINATION IN\n \n THE UNITED STATES\n \n /\n \n \n \n \n \n \n MONTREAL\n \n \n ,\n \n \n April 15, 2024\n \n \n /CNW/ - National Bank of\n \n Canada\n \n (the \"Bank\") (TSX: NA) announced today that it does not intend to exercise its right to redeem all or part of the currently outstanding 14,000,000 Non-Cumulative 5-Year Rate Reset First Preferred Shares, Series 30, Non-Viability Contingent Capital (NVCC) (the \"Series 30 Shares\") on\n \n May 15, 2024\n \n . As a result, subject to certain conditions, the holders of the Series 30 Shares will have the right to convert all or part of their Series 30 Shares on a one-for-one basis into Non-Cumulative Floating Rate First Preferred Shares, Series 31 (NVCC) (the \"Series 31 Shares\") on\n \n May 15, 2024\n \n , in accordance with the terms of the Series 30 Shares described in the prospectus supplement dated\n \n January 31, 2014\n \n .\n \n \n Holders who do not exercise their right to convert their Series 30 Shares into Series 31 Shares on\n \n May 15, 2024\n \n , will retain their Series 30 Shares.\n \n \n The foregoing conversions are subject to the conditions that:\n \n \n \n \n \n \n \n i.\n \n \n \n \n \n \n if the Bank determines that there would remain outstanding on May 15, 2024, less than 1,000,000 Series 31 Shares, after...