By Wendy Van Sickle
Columbus, Ohio, Jan. 26 – Royal Bank of Canada sold C$1.5 billion of 5.01% non-viability contingent capital subordinated debentures with a Feb. 1, 2033 maturity date, according to a press release.
The notes will start with a 5.01% fixed rate that converts to a floating rate based on daily compounded Corra plus 212 basis points on Feb. 1, 2028.
Starting on the reset date, the notes may be called at par at any time.
RBC Capital Markets is the lead agent on the issue.
Proceeds will be used for general business purposes.
Royal Bank of Canada is a Toronto-based financial services company.
| Issuer: | Royal Bank of Canada
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| Amount: | C$1.5 billion
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| Issue: | Non-viability contingent capital subordinated debentures
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| Maturity: | Feb. 1, 2033
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| Bookrunner: | RBC Capital Markets
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| Coupon: | 5.01% initial rate; converts to floating rate on Feb. 1, 2028 at daily compounded Corra plus 212 bps
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| Call features: | At par at any time starting Feb. 1, 2028
|
| Trade date: | Jan. 26
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| Settlement date: | Jan. 31
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| Distribution: | Regulation S
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