By Andrea Heisinger
New York, Dec. 16 - The Royal Bank of Canada sold $200 million of 0.77% three-year fixed-to-floating-rate notes at par on Wednesday, according to an FWP filing with the Securities and Exchange Commission.
The notes (Aa1/AA-/AA) have a fixed-rate coupon until Dec. 20, 2011 and then a floating rate of three-month Libor plus 23 basis points until maturity.
The notes are non-callable.
RBC Capital Markets Corp. was the bookrunner.
The financial services company is based in Montreal and Toronto.
| Issuer: | Royal Bank of Canada
|
| Issue: | Fixed-to-floating-rate notes
|
| Amount: | $200 million
|
| Maturity: | Dec. 20, 2013
|
| Bookrunner: | RBC Capital Markets Corp.
|
| Coupon: | 0.77% until Dec. 20, 2011, then three-month Libor plus 23 bps to maturity
|
| Price: | Par
|
| Yield: | 0.77% until Dec. 20, 2011, then three-month Libor plus 23 bps to maturity
|
| Call: | Non-callable
|
| Trade date: | Dec. 15
|
| Settlement date: | Dec. 20
|
| Ratings: | Moody's: Aa1
|
| Standard & Poor's: AA-
|
| Fitch: AA
|
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