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National Bank of Canada | Non-cumulative 5-Year Rate Reset First Preferred Shares Series 26 (NA.PRP.CA)
Prospectus excerpt: The holders of Non-cumulative 5-Year Rate Reset First Preferred Shares Series 26 (the “First Preferred Shares Series 26”) of National Bank of Canada (the “Bank”) will be entitled to receive fixed non-cumulative preferential cash dividends, as and when declared by the board of directors of the Bank (the “Board of Directors”), for the initial period commencing on the closing date and ending on and including February 15, 2014 (the “Initial Fixed Rate Period”), payable quarterly on the fifteenth day of February, May, August and November in each year, at an annual rate equal to $1.65 per share. The initial dividend, if declared, will be payable on May 15, 2009 and will be $0.47918 per share, based on the anticipated closing date of January 30, 2009. Reference is made to “Details of the Offering”. For each five-year period after the Initial Fixed Rate Period (each a “Subsequent Fixed Rate Period”), the holders of First Preferred Shares Series 26 will be entitled to receive fixed non-cumulative preferential cash dividends, as and when declared by the Board of Directors, payable quarterly on the fifteenth day of February, May, August and November in each year, in the amount per share per annum determined by multiplying the Annual Fixed Dividend Rate (as defined herein) applicable to such Subsequent Fixed Rate Period by $25.00. The Annual Fixed Dividend Rate for any Subsequent Fixed Rate Period will be determined by the Bank on the 30th day prior to the first day of such Subsequent Fixed Rate Period and will be equal to the sum of the Government of Canada Yield (as defined herein) on the date on which the Annual Fixed Dividend Rate is determined plus 4.79%. Reference is made to “Details of the Offering”. Full Prospectus PDF », NA.CA Page »
Series: | 26 | Alternate symbology: | NA-P.CA, NA-PP.CA, NAprP.CA | Redeemable?: | Yes | Call Date: | 2/15/2014 (Now Trading Post Call Date) | Perpetual?: | Yes | Cumulative?: | No | Conversion Ratio: | The holders of First Preferred Shares Series 26 will have the right, at their option, to convert their shares into Noncumulative Floating Rate First Preferred Shares Series 27 of the Bank (the “First Preferred Shares Series 27”), subject to certain conditions, on February 15, 2014 and on February 15 every five years thereafter. The holders of First Preferred Shares Series 27 will be entitled to receive floating rate non-cumulative preferential cash dividends, as and when declared by the Board of Directors, payable quarterly on the fifteenth day of February, May, August and November in each year (the initial quarterly dividend period and each subsequent quarterly dividend period is referred to as a “Quarterly Floating Rate Period”), in the amount per share determined by multiplying the applicable Floating Quarterly Dividend Rate (as defined herein) by $25.00. The Floating Quarterly Dividend Rate will be equal to the sum of the T-Bill Rate (as defined herein) plus 4.79%, calculated on the basis of the actual number of days elapsed in the applicable Quarterly Floating Rate Period divided by 365, determined on the 30th day prior to the first day of the applicable Quarterly Floating Rate Period. Reference is made to “Details of the Offering”. | Shares Offered: | 4000000 | Overallotment: | 3000000 | Liquidation Preference: | $25 | Original Coupon: | 6.60% | Pay Period: | Quarterly | Pay Dates: | 15-Feb, 15-May, 15-Aug, 15-Nov | CDx3 Compliance Rating: |
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National Bank of Canada is a financial institution. Co. operates four business segments: Personal and Commercial, which encompasses the banking, financing, and investing services; Wealth Management, which comprises investment solutions, trust services, banking services, lending services and other wealth management solutions; Financial Markets, which encompasses corporate banking and investment banking and financial solutions for large and mid-size corporations, public sector organizations, and institutional investors; and U.S. Specialty Finance and International, which encompasses the finance capabilities provided by the Credigy Ltd. subsidiary. Preferreds: NA.PRL.CA, NA.PRM.CA, NA.PRN.CA, NA.PRO.CA, NA.PRP.CA, NA.PRQ.CA Open the NA.CA Information Page »
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Name: |
National Bank of Canada |
Website: |
www.nbc.ca |
Sector: |
Banking & Savings |
Number of ETFs Holding NA.CA: |
1 (see which ones) |
Total Market Value Held by ETFs: |
$2,730,954 |
Total Market Capitalization: |
$37,175,000,000 |
% of Market Cap. Held by ETFs: |
0.01% |
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