RBC to redeem all S&P 500 Trend Allocator PR ETNs due June 20, 2036

By Tali Rackner

Norfolk, Va., March 7 – Royal Bank of Canada plans to redeem all of its exchange-traded notes due June 20, 2036 linked to the S&P 500 Trend Allocator PR index on March 16, according to a press release.

The redemption price will be the call settlement value on March 13 and will be paid to the ETN holders on the redemption date.

Daily repurchases at the option of holders will be accepted in the normal manner up to and including March 9.

The last trading day for the ETNs is expected to be March 13. The ETNs are listed on the Nasdaq Global Market under the ticker symbol “TALL.”

RBC said it expects to issue a notice of redemption via Depository Trust Co. on Wednesday.

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