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National Bank of Canada (the “Bank”) (TSX: NA) announces today that none of its 12,000,000 first rate preferred non-cumulative rate preferred shares, series 32 (the “Series 32 Preferred Shares”) currently outstanding will not be converted on February 15, 2020 into First Preferred Shares at variable rate and non-cumulative dividend, Series 33 (the “Series 33 Preferred Shares”).
During the conversion period, 58,495 Series 32 preferred shares were deposited for conversion into Series 33 preferred shares, less than the minimum of 1,000,000 shares required to give effect to the conversion, in accordance with the terms of the Series 32 preferred shares set out in the prospectus supplement dated October 2, 2014.
As a result, no Series 33 preferred shares will be issued on February 15, 2020 and holders of Series 32 preferred shares will retain their shares.
The Series 32 Preferred Shares are listed on the Toronto Stock Exchange under the symbol NA.PR.W. The annual dividend rate applicable to these shares for the five-year period starting on February 16, 2020 and ending on February 15, 2025 will be 3.839%.
About National Bank of Canada
With assets of $ 281 billion as at October 31, 2019, theNational bank of Canada, with its subsidiaries, is one of the largest integrated financial groups in Canada. It has more than 25,000 employees in functions with a high content of knowledge, and has been awarded many times for its qualities as an employer and its commitment to diversity. Its securities are listed on the Toronto Stock Exchange (TSX: NA). Follow his activities onbnc.caor through social media likeFacebook,LinkedInandTwitter.
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The CompanyNational Bank of Canadaposted this,February 03, 2020, and is solely responsible for the information contained therein.
The contents have been broadcast by the public, not revised and not revised, on03 February 2020 22:50:03 UTC.
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