National Bank of Canada Announces Increase to Preferred Share Issue

MONTREAL, QUEBEC--(Marketwired - Jan. 29, 2014) -

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National Bank of Canada ("National Bank") (TSX:NA) today announced that as a result of strong investor demand for its previously announced domestic public offering of Non-cumulative 5-Year Rate Reset First Preferred Shares Series 30, the size of the offering has been increased to 14 million shares. The gross proceeds of the offering will now be $350 million. The offering will be underwritten by a syndicate led by National Bank Financial Inc. The expected closing date is February 7, 2014.

The net proceeds of the offering will be used for general corporate purposes and are expected to qualify as Tier 1 capital for National Bank.

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.