Royal Bank of Canada plans dual tranches of five-year notes

By Rebecca Melvin and Cristal Cody

Concord, N.H., April 22 – Royal Bank of Canada plans to price five-year notes in floating- and fixed-rate tranches on Thursday, according to a market source.

The initial price talk for the fixed-rate notes was for a yield spread in the Treasuries plus 60 basis points area. The floating-rate notes will price at a spread over SOFR.

Citigroup, JPMorgan, nabSecurities, RBC and Westpac Banking were the bookrunners.

Royal Bank of Canada is a Toronto-based financial services company.

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