National Bank of Canada completes a $350 million issue of innovative Tier 1 capital

Date Closed

June 30, 2008

Lead Office

Montréal

Value

350.00 Million CAD

On June 30, 2008, NBC Asset Trust, a closed-end unit trust and subsidiary of National Bank of Canada (the "Bank"), completed a public offering in Canada of $350 million of Trust Capital Securities – Series 2 (NBC CapS II - Series 2). The offering of Trust Capital Securities – Series 2 provided the Bank with a method of raising Tier 1 capital for Canadian bank regulatory purposes.

McCarthy Tétrault LLP advised National Bank with a team led by Barry Ryan.

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