/NOT FOR DISTRIBUTION TO U.S. NEWS WIRE
SERVICES OR FOR DISSEMINATION IN THE
UNITED STATES/
MONTREAL, Nov. 2, 2023
/CNW/ - National Bank of Canada
(the "Bank") (TSX: NA) announced today that none of its outstanding
12,000,000 Series 42 Shares will be converted on November 15, 2023, into Non-Cumulative Floating
Rate First Preferred Shares, Series 43 (NVCC) (the "Series 43
Shares").
During the conversion period, 47,540 Series 42 Shares were
tendered for conversion into Series 43 Shares, which is less than
the minimum 1,000,000 required to give effect to the conversion, as
per the terms of the Series 42 Shares described in the prospectus
supplement dated June 4, 2018.
As a result, no Series 43 Shares will be issued on November 15, 2023, and holders of Series 42
Shares will retain their shares.
The Series 42 Shares are currently listed on the Toronto Stock
Exchange under the symbol NA.PR.G. As previously announced on
October 17, 2023, the annual dividend rate for the
Series 42 Shares for the five-year period commencing on
November 16, 2023, and ending on November 15, 2028, will be 7.056%.
About National Bank of
Canada
With $426 billion in assets as at July 31, 2023, National Bank of Canada, together with its subsidiaries, forms
one of Canada's leading integrated
financial groups. The Bank has
approximately 30,000 employees in
knowledge-intensive positions and has been recognized numerous
times as a top employer and for its commitment to diversity. Its
securities are listed on the Toronto Stock Exchange (TSX: NA).
Follow the Bank's activities at nbc.ca or via
social media.
SOURCE National Bank of Canada