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National Bank of Canada to Redeem its 4.300% Limited Recourse Capital Notes Series 1
National Bank of Canada to Redeem its 4.300% Limited Recourse Capital Notes Series 1 Ca...
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[{"type":"text","content":"\n\n\n\n National Bank of Canada to Redeem its 4.300% Limited Recourse Capital Notes Series 1\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.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 Sept. 19, 2025\n \n\n /CNW/ - National Bank of\n \n Canada\n \n (the \"\n \n Bank\n \n \") today announced its intention to redeem, on\n \n November 15, 2025\n \n (the \"\n \n Redemption Date\n \n \"), all of its outstanding\n \n $500,000,000\n \n aggregate principal amount of 4.300% Limited Recourse Capital Notes Series 1 (Non-Viability Contingent Capital (NVCC)) (Subordinated Indebtedness) (the \"\n \n Series 1 LRCNs\n \n \"), at a redemption price equal to the principal amount of the Series 1 LRCNs, plus any accrued and unpaid interest up to, but excluding, the Redemption Date. Formal notice of the redemption will be delivered to registered holders of the Series 1 LRCNs in accordance with the terms outlined in the trust indenture for the Series 1 LRCNs.\n \n\n In connection with the redemption of the Series 1 LRCNs, the Bank will redeem all 500,000 Non-Cumulative 5-Year Fixed Rate Reset First Preferred Shares, Series 44 (Non-Viability Contingent Capital (NVCC)) (the \"\n \n Series 44 Preferred Shares\n \n \") that are held by Computershare Trust Company of\n \n Canada\n \n as trustee of NBC LRCN Limited Recourse Trust.\n \n\n Since\n \n November 15, 2025\n \n is not a business day, amounts due to holders of the Series 1 LRCNs will be paid on the first business day following that date.\n \n\n The redemption of the Series 44 Preferred Shares and Series 1 LRCNs has been approved by the Office of the Superintendent of Financial Institutions and is part of the Bank's ongoing management of its regulatory capital.\n \n\n\n\n Caution Regarding Forward-Looking Statements\n \n\n\n\n This press release includes certain forward-looking statements. These statements are inherently subject to significant risks, uncertainties and chan...