Published on 8/8/2022 in the Prospect News Structured Products Daily.
New Issue: RBC prices $70.25 million floating-rate notes due 2024 on SOFR ICE swap rate
By Wendy Van Sickle
Columbus, Ohio, Aug. 8 – Royal Bank of Canada priced $70.25 million of floating-rate notes due Aug. 5, 2024 linked to the two-year U.S. dollar SOFR ICE swap rate, according to a 424B2 filing with the Securities and Exchange Commission.
The interest rate will be equal to the swap rate, subject to a floor of 3.45% per annum. Interest will be payable quarterly.
RBC Capital Markets, LLC is the underwriter.
Issuer: | Royal Bank of Canada
|
Issue: | Floating-rate notes
|
Underlying index: | Two-year U.S. dollar SOFR ICE swap rate
|
Amount: | $70.25 million
|
Maturity: | Aug. 5, 2024
|
Coupon: | Swap rate, subject to a floor of 3.45% per annum; payable quarterly
|
Price: | Par
|
Payout at maturity: | Par
|
Pricing date: | Aug. 3
|
Settlement date: | Aug. 5
|
Agent: | RBC Capital Markets, LLC
|
Fees: | 0.2%
|
Cusip: | 78014RFY1
|
|
© 2015 Prospect News.
All content on this website is protected by copyright law in the U.S. and elsewhere.
For the use of the person downloading only.
Redistribution and copying are prohibited by law without written permission in advance from Prospect News.
Redistribution or copying includes e-mailing, printing multiple copies or any other form of reproduction.