By Wendy Van Sickle
Columbus, Ohio, May 11 – Royal Bank of Canada priced $4 million of SOFR floating-rate notes with floor due May 10, 2024, according to a 424B2 filing with the Securities and Exchange Commission.
The interest rate will be compounded SOFR plus 25 basis points, subject to a minimum interest rate of 0%. Interest is payable quarterly.
The payout at maturity will be par.
RBC Capital Markets, LLC is the agent.
| Issuer: | Royal Bank of Canada
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| Issue: | SOFR floating-rate notes with floor
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| Amount: | $4 million
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| Maturity: | May 10, 2024
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| Coupon: | Compounded SOFR rate plus 25 bps, floor of 0%; payable quarterly
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| Price: | Variable
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| Payout at maturity: | Par
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| Pricing date: | May 8
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| Settlement date: | May 10
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| Agent: | RBC Capital Markets, LLC
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| Fees: | 0.2%
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| Cusip: | 78014RMV9
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