RBC plans 15-year redeemable step-up notes with 3.25% initial rate

By Susanna Moon

Chicago, March 20 - Royal Bank of Canada plans to price redeemable step-up notes due March 28, 2029, according to a 424B2 filing with the Securities and Exchange Commission.

Interest will be 3.25% for the first five years, stepping up to 4.5% after that. Interest is payable semiannually.

The payout at maturity will be par.

The notes are callable on March 28, 2019.

RBC Capital Markets, LLC is the underwriter.

The notes will settle on March 28.

The Cusip number is 78010UEC7.

© 2015 Prospect News.
All content on this website is protected by copyright law in the U.S. and elsewhere. For the use of the person downloading only.
Redistribution and copying are prohibited by law without written permission in advance from Prospect News.
Redistribution or copying includes e-mailing, printing multiple copies or any other form of reproduction.