Banking & Savings IPOs

Slide #1. The Bank of N.T. Butterfield & Son Limited — Initial Public Offering

Company:

The Bank of N.T. Butterfield & Son Limited

Proposed Symbol:

NTB

Shares Offered:

10,638,298

Price Per Share:

$23.50

Over-Allotment:

1,595,744

Description:

The Bank of N.T. Butterfield & Son Limited ("Butterfield") (BSX: NTB.BH), announced today the pricing of its US initial public offering ("IPO") of 10,638,298 of its voting ordinary shares ("Common Shares") at a price to the public of $23.50 per share. Butterfield is selling 5,957,447 Common Shares, with expected net proceeds of approximately $127 million to be used for general corporate purposes. In addition, certain selling shareholders ("Selling Shareholders") in the offering are selling 4,680,851 Common Shares for approximately $110 million. Certain of the Selling Shareholders have granted the underwriters a 30-day option to purchase an additional 1,595,744 shares at the initial public offering price, less underwriting discounts and commissions. The shares are expected to begin trading on 16 September 2016 on the New York Stock Exchange under the ticker symbol "NTB."

IPOs: The Bank of N.T. Butterfield & Son Limited

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Slide #1. The Bank of N.T. Butterfield & Son Limited — Initial Public Offering

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