By Wendy Van Sickle
Columbus, Ohio, Feb. 13 – Royal Bank of Canada priced $20 million of floating-rate notes with floor due Feb. 24, 2025, according to a 424B2 filing with the Securities and Exchange Commission.
Interest will be equal to the one-year U.S. Dollar SOFR ICE swap rate plus 74 basis points, subject to a floor of 0%. 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: | Floating-rate notes with floor
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| Amount: | $20 million
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| Maturity: | Feb. 24, 2025
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| Coupon: | One-year U.S. Dollar SOFR ICE swap rate plus 74 bps, subject to minimum coupon of 0%; 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: | Jan. 18
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| Settlement date: | Jan. 24
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| Agent: | RBC Capital Markets, LLC
|
| Fees: | 0.125%
|
| Cusip: | 78014RXE5
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