By Cristal Cody
Tupelo, Miss., Oct. 21 – Royal Bank of Canada priced $2.25 billion of three-year senior medium-term bail-inable notes (A2/A/AA) in two tranches on Wednesday, according to a market source.
A $1 billion tranche of three-year floating-rate notes priced at SOFR plus 45 basis points.
Royal Bank of Canada sold $1.25 billion of 0.5% three-year fixed-rate notes at a spread of Treasuries plus 33 bps.
The fixed-rate notes were initially talked to price in the Treasuries plus 50 bps area.
RBC Capital Markets, LLC, Citigroup Global Markets Inc. and Goldman Sachs & Co. LLC were the bookrunners.
Royal Bank of Canada is a Toronto-based financial services company.
| Issuer: | Royal Bank of Canada
|
| Amount: | $2.25 billion
|
| Description: | Series H senior global medium-term bail-inable notes
|
| Bookrunners: | RBC Capital Markets, LLC, Citigroup Global Markets Inc. and Goldman Sachs & Co. LLC
|
| Pricing date: | Oct. 21
|
| Ratings: | Moody’s: A2
|
| S&P: A
|
| Fitch: AA
|
| Distribution: | SEC registered
|
|
|
| Three-year floaters
|
| Amount: | $1 billion
|
| Maturity: | Oct. 26, 2023
|
| Coupon: | SOFR plus 45 bps
|
| Call feature: | None
|
|
|
| Three-year notes
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| Amount: | $1.25 billion
|
| Maturity: | Oct. 26, 2023
|
| Coupon: | 0.5%
|
| Spread: | Treasuries plus 33 bps
|
| Call feature: | None
|
| Price guidance: | Treasuries plus 50 bps area
|
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