National Bank of Canada Announces Interest Rate Reset of its 4.05% Limited Recourse Capital Notes Series 2
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National Bank of Canada (“National Bank”) today announced the interest rate for its $500,000,000 aggregate principal amount of 4.05% Limited Recourse Capital Notes, Series 2 (Non-Viability Contingent Capital (NVCC)) (Subordinated Indebtedness) (the “Notes”) for the five-year period commencing August 15, 2026.
In accordance with the terms of the trust indenture dated April 21, 2021 (the “Indenture”), the interest rate on the Notes for the period from and including August 15, 2026, to but excluding August 15, 2031, will be 6.293% per annum.
The interest rate was calculated as the sum of the Government of Canada Yield (as defined in the Indenture) determined as at August 14, 2026, plus 3.045%. Interest on the Notes will continue to be payable semi-annually in arrears on February 15 and August 15 of each year.
For more information, the prospectus supplement dated April 15, 2021, under which the Notes and the Non-Cumulative 5-Year Fixed Rate Reset First Preferred Shares, Series 45 (Non-Viability Contingent Capital (NVCC)) were issued, is available on National Bank’s SEDAR+ profile at www.sedarplus.ca.
About National Bank of Canada
With $618 billion in assets as at April 30, 2026, National Bank of Canada (the “Bank”) is one of Canada’s six systemically important banks. The Bank has more than 35,000 employees in knowledge-intensive positions and operates three business segments in Canada: Personal and Commercial Banking, Wealth Management and Capital 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
