Ms. Linda Boulanger reports

NATIONAL BANK OF CANADA ANNOUNCES CLOSING OF $300 MILLION NVCC PREFERRED SHARE OFFERING

National Bank of Canada has closed its domestic public offering of non-cumulative five-year rate-reset first preferred shares, Series 40 (non-viability contingent capital (NVCC)). National Bank issued 12 million Series 40 preferred shares at a price of $25 per share to raise gross proceeds of $300-million.

The offering was underwritten by a syndicate led by National Bank Financial Inc.

The Series 40 preferred shares will commence trading on the Toronto Stock Exchange on Jan. 22, 2018, under the ticker symbol NA.PR.E.

The Series 40 preferred shares were issued under a prospectus supplement dated Jan. 15, 2018, to National Bank's short form base shelf prospectus dated Nov. 21, 2016.

About National Bank of Canada

With $246-billion in assets as at Oct. 31, 2017, National Bank, together with its subsidiaries, forms one of Canada's leading integrated financial groups.

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