On February 5, 2024, the National Bank of Canada issued 5.279% Medium Term Notes for $500,000,000 due February 15, 2034, under the Non-Viability Contingent Capital (NVCC) Subordinated indebtedness.

The Notes are issued and sold through a dealer syndicate led by National Bank Financial Inc.

McCarthy Tétrault advised National Bank of Canada with a team led by Patrick Boucher that included Fraser Bourne, Isabelle Nazon, Annie Poirier-Simard, Jessica Vona and Thierry Côté  (Business) and Michel Ranger (Tax).