By William Gullotti
Buffalo, N.Y., Dec. 5 – Royal Bank of Canada priced $1.5 million of floating-rate notes with floor due Dec. 2, 2025, according to a 424B2 filing with the Securities and Exchange Commission.
Interest will be equal to two-year U.S. Dollar SOFR ICE swap rate, subject to a floor of 4.45%. Interest is payable quarterly.
The payout at maturity will be par plus the final coupon.
RBC Capital Markets, LLC and UBS Financial Services Inc. are the agents.
| Issuer: | Royal Bank of Canada
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| Issue: | Floating-rate notes with floor
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| Amount: | $1.5 million
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| Maturity: | Dec. 2, 2025
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| Coupon: | Two-year U.S. Dollar SOFR ICE swap rate, subject to minimum coupon of 4.45%; 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: | Nov. 28
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| Settlement date: | Nov. 30
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| Agents: | RBC Capital Markets, LLC and UBS Financial Services Inc.
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| Fees: | 1%
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| Cusip: | 78014RJJ0
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