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UNITED STATES./
MONTREAL, May 2, 2024
/CNW/ - National Bank of Canada
(the "Bank") (TSX: NA) announced today that none of its outstanding
14,000,000 Non-Cumulative 5-Year Rate Reset First Preferred Shares,
Series 30, Non-Viability Contingent Capital (NVCC)
(the "Series 30 Shares") will be converted, on May 15, 2024, into Non-Cumulative Floating Rate
First Preferred Shares, Series 31 (NVCC) (the "Series 31
Shares").
During the conversion period, 42,445 Series 30 Shares were
tendered for conversion into Series 31 Shares, which is less than
the minimum 1,000,000 shares required to give effect to the
conversion, as per the terms of the Series 30 Shares described in
the prospectus supplement dated January 31,
2014.
As a result, no Series 31 Shares will be issued on May 15, 2024, and holders of Series 30 Shares
will retain their shares.
The Series 30 Shares are currently listed on the Toronto Stock
Exchange under the symbol NA.PR.S. As previously announced on
April 15, 2024, the annual dividend
rate for the Series 30 Shares for the five-year period commencing
on May 16, 2024, and ending on
May 15, 2029, will be 6.191%.
About National Bank of
Canada
With $434 billion in assets as at January 31,
2024, National Bank of Canada, is one of Canada's six systematically important banks.
The Bank has approximately 30,000 employees in
knowledge-intensive positions and operated through three business
segments in Canada: Personal and
Commercial Banking, Wealth Management and Financial Markets. A
fourth segment, U.S. Specialty Finance and International,
complements the growth of its domestic operations. 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