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National Bank of Canada Announces Conversion Rights for Non-Cumulative 5-Year Rate Reset First Preferred Shares, Series 40 Non-Viability Contingent Capital (NVCC) (the "Series 40 Shares")
National Bank of Canada Announces Conversion Rights for Non-Cumulative 5-Year Rate Reset First Pr...
About this update from National Bank Of Canada
[{"type":"text","content":"\n \n \n \n National Bank of Canada Announces Conversion Rights for Non-Cumulative 5-Year Rate Reset First Preferred Shares, Series 40 Non-Viability Contingent Capital (NVCC) (the \"Series 40 Shares\")\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.prnrbrb0{\nBORDER-RIGHT:black 0pt\n}\n.prnml4{\nMARGIN-TOP:0em; MARGIN-RIGHT:0em; MARGIN-BOTTOM:0em; MARGIN-LEFT:0.33em !IMPORTANT\n}\n.prntar{\nTEXT-ALIGN: RIGHT\n}\n.prnvab{\nVERTICAL-ALIGN: BOTTOM\n}\n.prnsbtb0{\nBORDER-TOP:black 0pt\n}\n.prntac{\nTEXT-ALIGN: CENTER\n}\n.prnsbbb0{\nBORDER-BOTTOM:black 0pt\n}\n.prnbcc{\nBORDER-COLLAPSE: COLLAPSE\n}\n.prnpr2{\nPADDING-RIGHT:0.17em\n}\n.prnsblb0{\nBORDER-LEFT:black 0pt\n}\n.prnpl2{\nPADDING-LEFT:0.17em\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 4, 2023\n \n \n /CNW/ - National Bank of\n \n Canada\n \n (\"National Bank\") (TSX: NA) announced today that it does not intend to exercise its right to redeem all or part of the currently outstanding 12,000,000 Series 40 Shares on\n \n May 15, 2023\n \n . As a result, subject to certain conditions, the holders of the Series 40 Shares have the right to convert all or part of their Series 40 Shares on a one-for-one basis into Non-Cumulative Floating Rate First Preferred Shares, Series 41 (NVCC) (the \"Series 41 Shares\") on\n \n May 15, 2023\n \n , in accordance with the terms of the Series 40 Shares described in the prospectus supplement dated\n \n January 15, 2018\n \n .\n \n \n \n \n \n \n \n \n \n Holders who do not exercise their right to convert their Series 40 Shares into Series 41 Shares on\n \n May 15, 2023\n \n , will reta...