NA.PR.P Settles Below Par on OK Volume

National has announced:

that it has completed the public offering of non-cumulative 5-year rate reset first preferred shares series 26 (the “Series 26 Preferred Shares”), at a price of $25.00 per share. The offering was made through a syndicate of underwriters led by National Bank Financial Inc. Prior to the closing of the offering, the underwriters agreed to purchase 1,800,000 additional Series 26 Preferred Shares through the underwriters’ option, bringing the total issue to 5,800,000 shares and gross proceeds of the offering to $145 million

As previously discussed, this issue is a fixed-reset 6.60%+479. It traded 172,668 shares in a range of 24.85-95 before closing at 24.91-95.

The issue has been added to the HIMIPref™ Fixed-Reset Sub-Index.

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