National Bank Hikes Rate on $500 Million NVCC Capital Notes

National Bank of Canada has adjusted the interest rate on its $500 million Limited Recourse Capital Notes, Series 2.

The rate will rise from 4.05% to 6.293% per annum for the next five-year term beginning August 15, 2026.

This change reflects higher underlying government yields and increases the bank's cost of this layer of regulatory capital.

National Bank provides clarity to capital markets participants by reaffirming the payment schedule and terms.