National Bank of Canada Announces Closing of $350 Million Preferred Share Offering

MONTREAL, QUEBEC--(Marketwired - Feb. 7, 2014) -

NOT FOR DISTRIBUTION TO U.S. NEWS WIRE SERVICES OR FOR DISSEMINATION IN THE UNITED STATES

National Bank of Canada ("National Bank") (TSX:NA) today announced that it has closed its domestic public offering of Basel III-compliant non-cumulative 5-year rate reset first preferred shares series 30 (the "Series 30 Preferred Shares"). National Bank issued 14 million Series 30 Preferred Shares at a price of $25 per share to raise gross proceeds of $350 million.

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

The Series 30 Preferred Shares will commence trading on the Toronto Stock Exchange today under the ticker symbol NA.PR.S.

The Series 30 Preferred Shares were issued under a prospectus supplement dated January 31, 2014 to National Bank's short form base shelf prospectus dated October 5, 2012.

The Series 30 Preferred Shares have not been and will not be registered under the U.S. Securities Act of 1933, as amended, or under any state securities laws, and may not be offered, sold, directly or indirectly, or delivered within the United States of America and its territories and possessions or to, or for the account or benefit of, United States persons except in certain transactions exempt from the registration requirements of such Act. This press release shall not constitute an offer to sell or a solicitation to buy securities in the United States.

About National Bank of Canada

With $188 billion in assets as at October 31, 2013, National Bank of Canada (www.nbc.ca), together with its subsidiaries, forms one of Canada's leading integrated financial groups, and was named among the 20 strongest banks in the world by Bloomberg Markets magazine. The Bank has close to 20,000 employees and is widely recognized as a top employer. Its securities are listed on the Toronto Stock Exchange (TSX:NA). Follow the Bank's activities via social media and learn more about its extensive community involvement at www.clearfacts.ca and www.commitment.nationalbank.ca.