National Bank of Canada (“National Bank”) today announced its intention to redeem, on February 1, 2023, $750,000,000 of 3.183% medium term notes (Non-Viability Contingent Capital (NVCC)) due February 1, 2028 (the “Notes”), at a redemption price which is equal to the outstanding principal amount, together with all accrued and unpaid interest.
The redemption has been approved by the Office of the Superintendent of Financial Institution. Formal notice will be given to holders of Notes in accordance with the terms thereof.
The redemption of Notes is part of National Bank’s ongoing management of its regulatory capital.