Obligation Columbia Britannica 1.3% ( US110709AE21 ) en USD

Columbia Britannica

86.45 % ▲

Canada

US110709AE21 ( en USD )

1.3% par an ( paiement semestriel )

28/01/2031

Prospectus brochure de l'obligation British Columbia US110709AE21 en USD 1.3%, échéance 28/01/2031

110709AE2

29/01/2026 ( Dans 136 jours )

La Colombie-Britannique, province canadienne située sur la côte ouest, est réputée pour ses paysages variés, allant des montagnes Rocheuses aux forêts pluviales tempérées, et abrite une économie diversifiée axée sur les ressources naturelles, le tourisme et les technologies.

Une obligation émise par la Colombie-Britannique, province canadienne reconnue pour sa stabilité économique et sa gestion budgétaire rigoureuse en tant qu'entité gouvernementale souveraine, est actuellement disponible sur le marché secondaire sous le code ISIN US110709AE21 et le code CUSIP 110709AE2; cette émission, originaire du Canada mais libellée en dollars américains (USD), affiche un taux d'intérêt nominal de 1,3%, une maturité fixée au 28 janvier 2031, et prévoit des paiements d'intérêts à une fréquence semestrielle, se négociant actuellement à un prix de 84,87% de sa valeur nominale sur le marché.

PROSPECTUS SUPPLEMENT
(To prospectus dated June 19, 2012)

US$1,750,000,000
PROVINCE OF BRITISH COLUMBIA
(Canada)
1.300% Bonds, Series BCUSG-11, due January 29, 2031

The bonds are offered for sale in Canada, the United States, and those jurisdictions in Europe and Asia where it is
legal to make such offers.
The bonds bear interest at the rate of 1.300% per year. Interest on the bonds is payable on January 29 and July 29 of
each year, beginning July 29, 2021. The bonds will mature on January 29, 2031. The bonds are not redeemable before
maturity, unless certain events occur involving Canadian taxation.
Application will be made for the bonds offered by this prospectus supplement (the "Prospectus Supplement") to be
admitted to the Official List of the Luxembourg Stock Exchange and for such bonds to be admitted to trading on the Euro
MTF Market of the Luxembourg Stock Exchange. The Euro MTF Market of the Luxembourg Stock Exchange is not a
regulated market for the purposes of the Markets in Financial Instruments Directive (Directive 2014/65/EU). Unless the
context otherwise requires, references in this Prospectus Supplement to the bonds being "listed" shall mean that the bonds
have been admitted to trading on the Euro MTF Market and have been admitted to the Official List of the Luxembourg Stock
Exchange. We have undertaken to the underwriters to use all reasonable efforts to have the bonds listed on the Euro MTF
Market of the Luxembourg Stock Exchange as soon as possible after the closing of the issue. We cannot guarantee that these
applications will be approved, and settlement of the bonds is not conditional on obtaining the listing. This prospectus
supplement together with the prospectus dated June 19, 2012 constitutes a prospectus for purposes of Part IV of the
Luxembourg law on prospectus securities dated July 16, 2019.

Investing in the bonds involves risks. See "Risk Factors" beginning on page S-8.

Neither the Securities and Exchange Commission (the "SEC") nor any other regulatory authority has
approved or disapproved of these securities or passed upon the accuracy or adequacy of this Prospectus Supplement
and the accompanying basic prospectus dated June 19, 2012 (the "Basic Prospectus"). Any representation to the
contrary is a criminal offense.

Per bond
Total
Public Offering Price(1) ....................................................................................................................
99.851%
US$1,747,392,500
Underwriting Discount .....................................................................................................................
0.175%
US$3,062,500
Proceeds, before expenses, to the Province(1) ...................................................................................
99.676%
US$1,744,330,000

(1)
Plus accrued interest, if any, from and including January 29, 2021 if settlement occurs after that date.

We expect that the bonds will be ready for delivery in book-entry form only through The Depository Trust Company
and its participants, including CDS Clearing and Depository Services Inc., Clearstream Banking S.A. and Euroclear
Bank SA/NV, on or about January 29, 2021.

BMO Capital Markets
RBC Capital Markets
Scotiabank
TD Securities

National Bank of Canada Financial Markets
CIBC Capital Markets

BofA Securities
Crédit Agricole CIB
Deutsche Bank
HSBC
Société Générale Corporate &
Investment Banking

The date of this Prospectus Supplement is January 22, 2021.

TABLE OF CONTENTS

Page
Prospectus Supplement

Summary of the Offering .................................................................................................................................................
S-5
Risk Factors ......................................................................................................................................................................
S-8
Description of Bonds ........................................................................................................................................................ S-10
Clearing and Settlement ................................................................................................................................................... S-16
Tax Matters ...................................................................................................................................................................... S-20
Underwriting .................................................................................................................................................................... S-22
Legal Matters.................................................................................................................................................................... S-28
Authorized Agent in the United States ............................................................................................................................. S-28
Forward-looking Statements ............................................................................................................................................ S-28
General Information ......................................................................................................................................................... S-28
Sources of Information ..................................................................................................................................................... S-29
Basic Prospectus

About This Prospectus......................................................................................................................................................
2
Where You Can Find More Information ..........................................................................................................................
3
Forward-Looking Statements ...........................................................................................................................................
4
General Description Of Province Of British Columbia ....................................................................................................
4
Description Of Debt Securities And Warrants .................................................................................................................
5
General .........................................................................................................................................................................
5
Form, Exchange and Transfer ......................................................................................................................................
6
Registered Global Securities ........................................................................................................................................
6
Payment of Interest and Principal .................................................................................................................................
8
Warrants .......................................................................................................................................................................
8
Canadian Taxation ........................................................................................................................................................
9
United States Federal Income Taxation ........................................................................................................................
10
United Kingdom Taxation ............................................................................................................................................
12
Enforceability and Governing Law ..............................................................................................................................
13
Use Of Proceeds ...............................................................................................................................................................
13
Plan Of Distribution .........................................................................................................................................................
14
Debt Record......................................................................................................................................................................
14
Legal Matters....................................................................................................................................................................
15
Authorized Agent .............................................................................................................................................................
15
Experts And Public Official Documents ..........................................................................................................................
15

Capitalized terms used but not defined herein have the meanings given to them in the Basic Prospectus.
The words "the Province", "we", "our", "ours" and "us" refer to the Province of British Columbia.
References in this Prospectus Supplement to the European Economic Area (the "EEA") and Member States of the
EEA are to the member states of the European Union together with Iceland, Norway and Liechtenstein.
Unless otherwise specified or the context otherwise requires, references in this Prospectus Supplement to "$" and
"Cdn. $" are to lawful money of Canada and "US$" and "U.S. dollars" are to lawful money of the United States of America.
The daily average exchange rate between the U.S. dollar and the Canadian dollar published by the Bank of Canada on
January 22, 2021 was approximately $1.00 = US$0.7864.

IMPORTANT INFORMATION FOR INVESTORS
We are not, and the underwriters are not, making an offer to sell these securities in any jurisdiction where the offer
or sale is not permitted. Before making an investment decision, you should consult your legal and investment advisors
regarding any restrictions or concerns that may pertain to you and your particular jurisdiction.
The Basic Prospectus contains or incorporates by reference information regarding the Province and other matters,
including a description of certain terms of the Province's securities, and should be read together with this Prospectus
Supplement. We have not, and the underwriters have not, authorized anyone to provide any information other than that
incorporated by reference or contained in the Basic Prospectus or this Prospectus Supplement or in any free writing
prospectus prepared by or on behalf of us or to which we have referred you. We take no responsibility for, and can provide no
assurance as to the reliability of, any other information that persons other than those authorized by us may give you.

In connection with the issue of the bonds, the underwriters (or persons acting on their behalf) may over-allot bonds
(provided that, in the case of any bonds to be admitted to trading on the Euro MTF Market of the Luxembourg Stock
Exchange, the aggregate principal amount of bonds allotted does not exceed 105% of the aggregate principal amount of the
bonds subject to the issue) or effect transactions with a view to supporting the market price of the bonds during the
stabilization period at a level higher than that which might otherwise prevail. However, stabilization may not necessarily
occur. Any stabilization action may begin on or after the date on which adequate public disclosure of the terms of the offer of
the bonds is made and, if begun, may be ended at any time, but it must end no later than the earlier of 30 days after the date
on which the Province received the proceeds of the issue and 60 days after the date of the allotment of the bonds. Any
stabilization action or over-allotment must be conducted by the underwriters (or persons acting on their behalf) in accordance
with all applicable laws and rules and will be undertaken at the offices of the underwriters (or persons acting on their behalf)
and on the Euro MTF Market of the Luxembourg Stock Exchange.
We expect that delivery of the bonds will be made against payment therefor on or about the date specified on the
cover page of this Prospectus Supplement, which is five business days following the date of pricing of the bonds (such
settlement cycle being herein referred to as "T+5"). You should note that the trading of the bonds on the date of pricing or the
next two succeeding business days may be affected by the T+5 settlement. See "Underwriting."
Prohibition of Sales to EEA retail investors--The bonds are not intended to be offered, sold or otherwise made
available to, and should not be offered, sold or otherwise made available to, any retail investor in the EEA. For these
purposes, a retail investor means a person who is one (or more) of: (i) a retail client as defined in point (11) of Article 4(1) of
Directive 2014/65/EU (as amended, "MiFID II"); (ii) a customer within the meaning of Directive (EU) 2016/97 (as amended,
the "IDD"), where that customer would not qualify as a professional client as defined in point (10) of Article 4(1) of
MiFID II; or (iii) not a qualified investor as defined in Regulation (EU) 2017/1129 (as amended or superseded, the
"Prospectus Regulation"). Consequently no key information document required by Regulation (EU) No 1286/2014
(as amended, the "PRIIPs Regulation") for offering or selling the bonds or otherwise making them available to retail
investors in the EEA has been prepared and therefore offering or selling the bonds or otherwise making them available to any
retail investor in the EEA may be unlawful under the PRIIPs Regulation.

Prohibition of Sales to UK retail investors--The bonds are not intended to be offered, sold or otherwise made
available to and should not be offered, sold or otherwise made available to any retail investor in the United Kingdom ("UK").
For these purposes, a retail investor means a person who is one (or more) of: (i) a retail client, as defined in point (8) of
Article 2 of Regulation (EU) No 2017/565 as it forms part of domestic law by virtue of the European Union (Withdrawal)
Act 2018 (as amended, the "EUWA"); (ii) a customer within the meaning of the provisions of the Financial Services and
Markets Act 2000 (as amended, the "FSMA") and any rules or regulations made under the FSMA to implement the IDD,
where that customer would not qualify as a professional client, as defined in point (8) of Article 2(1) of Regulation (EU)
No 600/2014 as it forms part of domestic law by virtue of the EUWA; or (iii) not a qualified investor as defined in Article 2
of the Prospectus Regulation as it forms part of domestic law by virtue of the EUWA. No key information document required
by the PRIIPS Regulation as it forms part of domestic law by virtue of the EUWA (the "UK PRIIPs Regulation") for offering
or selling the bonds or otherwise making them available to retail investors in the UK has been prepared and the bonds will
not be offered or sold or otherwise made available to any retail investor in the UK.
UK MiFIR product governance--Solely for the purposes of the manufacturer's product approval process, the
target market assessment in respect of the bonds has led to the conclusion that: (i) the target market for the bonds is only
eligible counterparties, as defined in the FCA Handbook Conduct of Business Sourcebook, and professional clients, as
defined in Regulation (EU) No 600/2014 as it forms part of domestic law by virtue of the EUWA; and (ii) all channels for
distribution of the bonds to eligible counterparties and professional clients are appropriate. Any person subsequently offering,
selling or recommending the bonds (for the purposes of this paragraph, a "distributor") should take into consideration the
manufacturer's target market assessment; however, a distributor subject to the FCA Handbook Product Intervention and
Product Governance Sourcebook (the "UK MiFIR Product Governance Rules") is responsible for undertaking its own target
market assessment in respect of the bonds (by either adopting or refining the manufacturer's target market assessment) and
determining appropriate distribution channels. The Province does not make any representations or warranties as to a
distributor's compliance with the UK MiFIR Product Governance Rules.
All bonds shall be prescribed capital markets products (as defined in Singapore's Securities and Futures (Capital
Markets Products) Regulations) and Excluded Investment Products (as defined in MAS Notice SFA 04-N12; Notice on the
Sale of Investment Products and MAS Notice FAA-N16; Notice on Recommendations on Investment Products).
The bonds may not be a suitable investment for all investors
Each potential investor in the bonds must determine the suitability of that investment in light of its own
circumstances. In particular, each potential investor should:
(i)
have sufficient knowledge and experience to make a meaningful evaluation of the bonds, the merits and
risks of investing in the bonds and the information contained or incorporated by reference in the Basic
Prospectus and this Prospectus Supplement;
(ii)
have access to, and knowledge of, appropriate analytical tools to evaluate, in the context of its particular
financial situation, an investment in the bonds and the impact the bonds will have on its overall investment
portfolio;
(iii)
have sufficient financial resources and liquidity to bear all of the risks of an investment in the bonds,
including where the currency for principal or interest payments is different from the potential investor's
currency;
(iv)
understand thoroughly the terms of the bonds and be familiar with the behavior of any relevant indices and
financial markets; and
(v)
be able to evaluate (either alone or with the help of a financial advisor) possible scenarios for economic,
interest rate and other factors that may affect its investment and its ability to bear the applicable risks.
Legal investment considerations may restrict investments in, or the ability to pledge, the bonds, limiting the market for
resales
The investment activities of certain investors are subject to legal investment laws and regulations, or review or
regulation by certain authorities. Each potential investor should consult its legal advisors to determine whether and to what
extent (1) the bonds are legal investments for it, (2) the bonds can be used as collateral for various types of borrowing and
(3) other restrictions apply to its purchase or pledge of any bonds. Financial institutions should consult their legal advisors or

the appropriate regulators to determine the appropriate treatment of the bonds under any applicable risk-based capital or
similar rules. These restrictions may limit the market for the bonds.
You may assume that the information appearing in this Prospectus Supplement and the Basic Prospectus, as well as
the information we previously filed with the SEC and incorporated by reference, is accurate in all material respects as of the
date of such document. Please see "Where You Can Find More Information" in the Basic Prospectus.
We have filed a registration statement with the SEC covering the portion of the bonds to be sold in the United States
or in circumstances where registration of the bonds is required. For further information about us and the bonds, you should
refer to our registration statement and its exhibits. This Prospectus Supplement and the Basic Prospectus summarize material
provisions of the agreements and other documents that you should refer to. Because the Prospectus Supplement and the Basic
Prospectus may not contain all of the information that you may find important, you should review the full text of these
documents and the documents incorporated by reference in the Basic Prospectus.
None of the underwriters are manufacturers for the purposes of MiFID II product governance rules under
Commission Delegated Directive (EU) 2017/593 (the "Delegated Directive"). Any distributor subject to MiFID II (for the
purposes of this paragraph, a "distributor") subsequently offering, selling or recommending the bonds is responsible for
undertaking its own target market assessment in respect of the bonds and determining the appropriate distribution channels
for the purposes of the MiFID II product governance rules under the Delegated Directive. Neither the Province nor any of the
underwriters make any representations or warranties as to a distributor's compliance with the Delegated Directive.

We file reports and other information with the SEC in the United States.
Information filed by the Province is available from the SEC's Electronic Data Gathering, Analysis, and Retrieval
System (http://www.sec.gov), which is commonly known by the acronym EDGAR, as well as from commercial document
retrieval services. Our website address is www.gov.bc.ca. The information contained on, or accessible through, our website
does not constitute a part of this Prospectus Supplement or Basic Prospectus. We have included our website address in this
Prospectus Supplement solely as an inactive textual reference.

SUMMARY OF THE OFFERING
This summary must be read as an introduction to this Prospectus Supplement and the accompanying Basic
Prospectus and any decision to invest in the bonds should be based on a consideration of such documents taken as a whole,
including the documents incorporated by reference.
Issuer:
The Province of British Columbia.
Legal Entity Identifier
(LEI):
54930058TO7MEKUHWL16
Aggregate principal
amount:
US$1,750,000,000.
Interest rate:
1.300% per year.
Maturity date:
January 29, 2031.
Interest payment dates:
January 29 and July 29 of each year, beginning on July 29, 2021.
Interest commencement:
Interest will accrue from January 29, 2021.
Interest calculations:
Based on a 360-day year of twelve 30-day months.
Ranking:
The bonds will be direct and unconditional general obligations of the Province and will rank
equally with all of our other unsecured and unsubordinated indebtedness.
Redemption:
We may not redeem the bonds prior to maturity, unless certain events occur involving
Canadian taxation.
Proceeds:
After deducting the underwriting discount and our estimated expenses of US$266,000,
including US$75,000 in respect of certain expenses of the underwriters, our net proceeds
will be approximately US$1,744,064,000.
Markets:
The bonds are offered for sale in Canada, the United States, and those jurisdictions in
Europe and Asia where it is legal to make such offers.
Listing:
We will apply to have the bonds admitted to trading on the Euro MTF Market of the
Luxembourg Stock Exchange. We have undertaken to the underwriters to use all
reasonable efforts to have the bonds listed on the Euro MTF Market of the Luxembourg
Stock Exchange and to trading on the Luxembourg Stock Exchange's Euro MTF Market
as soon as possible after the closing of the issue. We cannot guarantee that these
applications will be approved, and settlement of the bonds is not conditional on obtaining
the listing.
Form of bond:
The bonds will be issued in the form of one or more fully registered permanent global bonds
held in the name of Cede & Co., as nominee of The Depository Trust Company, known as
DTC, and will be recorded in a register held by The Bank of New York Mellon, as registrar.
Beneficial interests in the global bonds will be represented through book-entry accounts of
financial institutions acting on behalf of beneficial owners as direct and indirect participants
in DTC. Investors may elect to hold interests in the global bonds through any of DTC (in the
United States), CDS Clearing and Depository Services Inc., known as CDS (in Canada),
Clearstream Banking S.A., known as Clearstream, or Euroclear Bank SA/NV as operator of
the Euroclear System or any successor in that capacity, known as Euroclear (in Europe and
Asia), if they are participants in such systems, or indirectly through organizations which are
participants in such systems. CDS will hold interests directly through its account at DTC
and Clearstream and Euroclear will hold interests as indirect participants in DTC.

Except in limited circumstances, investors will not be entitled to have bonds registered in
their names, will not receive or be entitled to receive bonds in definitive form and will not
be considered registered holders thereof under the fiscal agency agreement between the
Province and The Bank of New York Mellon, relating to the bonds.

The bonds will only be sold in minimum aggregate principal amounts of US$5,000 and
integral multiples of US$1,000 for amounts in excess of US$5,000.
Withholding tax:
Principal of and interest on the bonds are payable by the Province without withholding or
deduction for Canadian withholding taxes to the extent set forth herein.
Risk factors:
We believe that the following factors represent the principal risks inherent in investing in the
bonds: there is no active trading market for the bonds and an active trading market may not
develop; the bonds are subject to modification and waiver of conditions in certain
circumstances; exchange rates may affect the value of judgments in Canadian currency;
because the bonds are held by or on behalf of DTC, investors will have to rely on its
procedures for transfer, payment and communication with us; the laws governing the bonds
may change; investors may be subject to exchange rate risks and/or exchange controls; and

we have ongoing ordinary course business relationships with certain of the underwriters and
their affiliates that could create the potential for, or perception of, conflict among the
interests of underwriters and prospective investors.
The Province may be contacted at the Ministry of Finance, Provincial Treasury, Debt Management Branch,
P.O. Box 9423 Stn. Prov. Govt., 620 Superior Street, Victoria, British Columbia, Canada V8W 9V1 and may be telephoned
at (778) 698-5908.
Recent Developments
The COVID-19 pandemic has had, and is currently having, an adverse impact on global financial markets and the
global economy, including the economy of British Columbia. In response, the Province has implemented, and continues to
implement, a comprehensive action plan and has revised its forecasts. See Amendment No. 1 to the Province's Annual
Report, filed with the SEC on Form 18-K/A on December 22, 2020 and incorporated herein by reference, for the latest
forecast. In addition to negatively impacting the near-term global economic growth outlook, including the economic growth
outlook for British Columbia, the COVID-19 pandemic has made it difficult to quantify the uncertainties stemming from the
pandemic. This significant uncertainty makes forecasting more difficult and the economic planning assumptions underlying
such forecasts may quickly be rendered out of date due to rapidly changing circumstances. The spread of COVID-19 and the
measures taken to contain its spread may continue to have adverse impacts on the Province's revenues and expenditures, and
on the economy of British Columbia.

RISK FACTORS
We believe that the following factors may be material for the purpose of assessing the market risks associated with
the bonds and the risks that may affect our ability to fulfill our obligations under the bonds.
We believe that the factors described below represent the principal risks inherent in investing in the bonds but we do
not represent that the statements below regarding the risks of investing in the bonds are exhaustive. Prospective investors
should also read the detailed information set out elsewhere in this Prospectus Supplement and the Basic Prospectus
(including any documents incorporated by reference herein or therein) and reach their own views prior to making any
investment decision.
There is no active trading market for the bonds and an active trading market may not develop
The bonds will be new securities which may not be widely distributed and for which there is currently no active
trading market. No assurance can be given as to the liquidity of the trading market for the bonds or that an active trading
market will develop. If the bonds are traded after their initial issuance, they may trade at a discount to their initial offering
price, depending upon prevailing interest rates, the market for similar securities, general economic conditions and our
financial condition. If an active trading market does not develop, investors may not be able to sell their bonds at prices that
will provide them with a yield comparable to similar investments that have a more highly developed secondary market. We
have undertaken to the underwriters to use all reasonable efforts to have the bonds listed on the Euro MTF Market of the
Luxembourg Stock Exchange as soon as possible after the closing of the issue. We cannot guarantee that our application to
list the bonds will be approved, and settlement of the bonds is not conditional on obtaining the listing.
The bonds are subject to modification and waiver of conditions in certain circumstances
The terms of the bonds contain provisions for calling meetings of registered holders to consider matters affecting
their interests generally. These provisions permit defined majorities to approve, by extraordinary resolution (as defined below
under "Description of Bonds--Modification"), certain modifications or amendments to the fiscal agency agreement and the
bonds that bind all registered holders, including registered holders who did not attend and vote at the relevant meeting and
registered holders who voted in a manner contrary to the majority.
The terms of the bonds also provide that the parties to the fiscal agency agreement will be able to enter into
agreements supplemental to the fiscal agency agreement to create and issue further bonds ranking equally and ratably with
the bonds in all respects, or in all respects other than in respect of the date from which interest will accrue and the first
interest payment date, and that such further bonds shall be consolidated and form a single series with the bonds and shall
have the same terms as to status, redemption or otherwise as the bonds.
The terms of the bonds also provide that the parties to the fiscal agency agreement will be able to amend the fiscal
agency agreement and the bonds without notice to or consent of the registered holders for the purpose of curing any
ambiguity or of curing, correcting or supplementing any defective provisions therein, or effecting the issue of further bonds
as described above or in any other manner the Province may deem necessary or desirable and which in the reasonable opinion
of the parties to the fiscal agency agreement will not adversely affect the interests of the registered holders.
Exchange rates may affect the value of judgments in Canadian currency
The Currency Act (Canada) precludes a court in Canada from giving judgment in any currency other than Canadian
currency. The Foreign Money Claims Act (British Columbia) provides that if the Supreme Court of British Columbia
considers that a person in whose favour an order for the payment of money is to be made will be most truly and exactly
compensated if all or part of the money payable under the order is measured in a currency other than Canadian currency, the
court must order that the money payable under the order will be that amount of Canadian currency that is necessary to
purchase the equivalent amount of the other currency at a chartered bank in British Columbia at the close of business on the
conversion date. The Foreign Money Claims Act (British Columbia) defines conversion date, in effect, as the last day before
the day on which a payment under the order is made that the relevant chartered bank quotes a Canadian dollar equivalent to
the other currency. The Foreign Money Claims Act (British Columbia) and the Foreign Money Claims Regulation made
under it also provide, in effect, that, subject to the discretion of the court, interest payable after the date of an order to which
the Foreign Money Claims Act (British Columbia) applies shall accrue at the applicable foreign prime rate (as described in
the Foreign Money Claims Regulation) until payment. Holders would bear the risk of exchange rate fluctuations between the
time the Canadian dollar amount of the judgment is calculated and the time the holders receive payment.

Because the bonds are held by or on behalf of DTC, investors will have to rely on its procedures for transfer, payment and
communication with us
The bonds will be deposited with DTC. Except in limited circumstances, investors will not be entitled to receive
bonds in definitive form. DTC's records will reflect only the identity of direct DTC participants to whose accounts the bonds
are credited. Direct and indirect participants in DTC will be responsible for keeping records of the beneficial ownership of
bonds on behalf of their customers. Investors will be able to trade their beneficial interests only through DTC and its direct
and indirect participants.
We will discharge our payment obligations under the bonds by making payments to DTC for distribution to its
account holders. A holder of a beneficial interest in the bonds must rely on the procedures of DTC to receive payments under
the bonds. We have no responsibility or liability for the records relating to, or payments made in respect of, beneficial
interests in the bonds.
Holders of beneficial interests in the bonds will not have a direct right to vote in respect of the bonds. Instead, such
holders will be permitted to act only to the extent that they are enabled by DTC to appoint proxies. Similarly, holders of
beneficial interests in the bonds will not have a direct right under the bonds to take enforcement action against us in the event
of a default under the bonds.
The laws governing the bonds may change
The terms of the bonds are based on the laws of the Province of British Columbia and the federal laws of Canada
applicable therein in effect as at the date of this Prospectus Supplement. No assurance can be given as to the impact of any
possible judicial decision or change to the laws of the Province of British Columbia or the federal laws of Canada applicable
therein or administrative practice after the date of this Prospectus Supplement.
Investors may be subject to exchange rate risks and exchange controls
We will pay principal and interest on the bonds in the currency of the United States. This presents certain risks
relating to currency conversions if an investor's financial activities are denominated principally in a currency or currency unit
(the "Investor's Currency") other than the currency of the United States. These include the risk that exchange rates may
significantly change (including changes due to devaluation of the currency of the United States or revaluation of the
Investor's Currency) and the risk that authorities with jurisdiction over the Investor's Currency may impose or modify
exchange controls. An appreciation in the value of the Investor's Currency relative to the currency of the United States would
decrease (1) the Investor's Currency-equivalent yield on the bonds, (2) the Investor's Currency-equivalent value of the
principal payable on the bonds and (3) the Investor's Currency-equivalent market value of the bonds.
Government and monetary authorities may impose (as some have done in the past) exchange controls that could
adversely affect an applicable exchange rate. As a result, investors may receive less interest or principal than expected, or no
interest or principal.
Investment in the bonds involves the risk that subsequent changes in market interest rates may adversely affect the
value of the bonds.
Certain of the underwriters may have real or perceived conflicts of interest
Certain of the underwriters and their affiliates have engaged, and may in the future engage, in investment banking
and/or commercial banking transactions with, and may perform services for, the Province in the ordinary course of business
and such activities could create the potential for or perception of conflict among the interests of the underwriters and
prospective investors.
DESCRIPTION OF BONDS
General
The 1.300% Bonds, Series BCUSG-11, due January 29, 2031 offered hereby in the aggregate principal amount of
US$1,750,000,000 will be issued subject to a fiscal agency agreement to be dated as of January 29, 2021, between the