On sale from August 18 to September 30, 2008
$5,000 minimum investment

  • Regardless of the performance, the Note Securities will make semi-annual payments equal to 7.5% per annum of the principal amount – a yield superior to the current dividend yield offered by the five bank shares.
  • The payments will be tax-efficient return of capital (ROC).
  • Investors receive cumulative ROC payments of $37.50 over the five-year term of the Note Security.
  • At the end of the five-year term, in addition to the $37.50 of cumulative ROC payments already received and provided that none of the bank stocks decline by 50% or more during the term of the Note Securities, investors will receive an amount equal to their original investment of $100 per Note Security. There is also the potential for investors to receive more than their initial investment.

Minimum Purchase: $5,000
Issuer: National Bank of Canada
Term: 5 years
Secondary Market: maintained daily by National Bank Financial
Eligibility: RRSPs, RRIFs, RESPs, DPSPs, RDSPs

Available Info | Investors

Pricing Supplement
Shelf Prospectus

For more information contact your Financial Advisor.
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This document is confidential and for the use of investment dealers only. The contents are not to be reproduced or distributed to the public or press. Securities legislation in all provinces prohibits such distribution. This document should be read in conjunction with the shelf prospectus dated April 23, 2008 and the pricing supplement dated August 18, 2008 (the “Pricing Supplement”). The information contained herein, while obtained from sources which we believe to be reliable, is not guaranteed as to its accuracy or completeness. This document is for informational purposes only and does not constitute an offer to sell or a solicitation to buy the securities referred to herein.

Skylon Big Five Barrier Return of Capital Note Securities, Series 1 are not principal protected note securities and Investors may receive an amount that is less than the Remaining Principal Amount at maturity. An investment in the Note Securities is subject to a number of risk factors. Potential purchasers should consult the Pricing Supplement before investing in the Note Securities. Capitalized terms used herein and not otherwise defined have the meaning ascribed thereto in the Pricing Supplement.

This document relates only to the Note Securities offered under the Pricing Supplement and does not relate to the Reference Shares, the Reference Issuers or other securities. The Bank has derived all disclosures contained in the Pricing Supplement and used by CI Investments in this document regarding the Reference Shares and the Reference Issuers from publicly available information. Further, the Bank and the Agents have not had an opportunity to verify the accuracy or completeness of any such information or to determine if there has been any omission by any of the Reference Issuers to disclose any facts, information or events which may have occurred prior to or subsequent to the date as of which any such information has been furnished by the Reference Issuers or which may affect the significance or accuracy of the Reference Issuers of any such information.