By Wendy Van Sickle
Columbus, Ohio, Oct. 31 – Royal Bank of Canada priced $100 million of floating-rate notes with coupon floor due Oct. 28, 2027, according to a 424B2 filing with the Securities and Exchange Commission.
Interest will be equal to SOFR plus 160 basis points, subject to a floor of 2.3%. 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
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| Issue: | Floating-rate notes with coupon floor
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| Amount: | $100 million
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| Maturity: | Oct. 28, 2027
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| Coupon: | SOFR plus 160 bps, subject to minimum coupon of 2.3%; payable quarterly
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| Price: | Par
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| Payout at maturity: | Par plus final coupon
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| Pricing date: | Oct. 26
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| Settlement date: | Oct. 28
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| Agent: | RBC Capital Markets, LLC
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| Fees: | 0.375%
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| Cusip: | 78014RHX1
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