New Issue: RBC sells $1.64 million floating-rate notes with 4.45% floor tied to SOFR ICE swap rate

By Wendy Van Sickle

Columbus, Ohio, March 28 – Royal Bank of Canada priced $1.64 million of floating-rate notes with floor due March 23, 2026, 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 4.25%. 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
Issue:	Floating-rate notes with floor
Amount:	$1,638,000
Maturity:	March 23, 2026
Coupon:	Two-year U.S. Dollar SOFR ICE swap rate, subject to minimum coupon of 4.25%; payable quarterly
Price:	Par
Payout at maturity:	Par plus final coupon
Pricing date:	March 20
Settlement date:	March 23
Agents:	RBC Capital Markets, LLC and UBS Financial Services Inc.
Fees:	1%
Cusip:	78014RLT5

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