New Issue: RBC prices $6.84 million collared SOFR floaters with 3.29% floor, 3.75% cap

By William Gullotti

Buffalo, N.Y., July 19 – Royal Bank of Canada priced $6.84 million of collared SOFR floating-rate notes due Oct. 18, 2023, according to a 424B2 filing with the Securities and Exchange Commission.

Interest will be equal to SOFR, subject to a floor of 3.29% and a cap of 3.75%. Interest is payable quarterly.

The payout at maturity will be par plus the final coupon.

RBC Capital Markets, LLC is the agent.

Issuer:	Royal Bank of Canada
Issue:	Collared SOFR floating-rate notes
Amount:	$6,836,000
Maturity:	Oct. 18, 2023
Coupon:	SOFR, subject to minimum coupon of 3.29% and maximum coupon of 3.75%; payable quarterly
Price:	Par
Payout at maturity:	Par plus final coupon
Pricing date:	July 14
Settlement date:	July 18
Agent:	RBC Capital Markets, LLC
Fees:	None
Cusip:	78014RFG0

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