By Wendy Van Sickle
Columbus, Ohio, June 13 – Royal Bank of Canada priced $3 million of SOFR ICE swap rate floating-rate notes due June 21, 2032, according to a 424B2 filing with the Securities and Exchange Commission.
Interest will be equal to the five-year U.S. dollar SOFR ICE swap rate plus 125 basis points, subject to a floor of 1% per annum. 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: | SOFR ICE swap rate floating-rate notes
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| Underlying rate: | Five-year U.S. dollar SOFR ICE swap rate
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| Amount: | $3 million
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| Maturity: | June 21, 2032
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| Coupon: | Five-year U.S. dollar SOFR ICE swap rate plus 125 bps, subject to minimum coupon of 1% per annum; 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: | June 16
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| Settlement date: | June 21
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| Agent: | RBC Capital Markets, LLC
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| Fees: | 1.4%
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| Cusip: | 78014RFB1
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