/NOT FOR DISTRIBUTION TO U.S. NEWSWIRE SERVICES OR FOR
DISSEMINATION IN THE UNITED
STATES/
TORONTO, Jan. 22,
2025 /CNW/ - Royal Bank of Canada (TSX: RY) (NYSE: RY) today announced an
offering of $1.5 billion of
non-viability contingent capital (NVCC) subordinated debentures
("the Notes") through its Canadian Medium Term Note Program.
The Notes bear interest at a fixed rate of 4.279 per cent per
annum (paid semi-annually) until February 4,
2030 and at Daily Compounded CORRA plus 1.45 per cent
thereafter until their maturity on February
4, 2035 (paid quarterly). The expected closing date is
January 29, 2025. RBC Capital Markets
is acting as lead agent on the issue.
The bank may, at its option and with the prior approval of the
Office of the Superintendent of Financial Institutions, redeem the
Notes on or after February 4, 2030 at
par, in whole at any time or in part from time to time, on not less
than 30 days and not more than 60 days' notice to registered
holders.
Net proceeds from this transaction will be used for general
business purposes.
The Notes have not been, and will not be, registered under the
United States Securities Act of 1933, as amended (the "Securities
Act"), or the securities laws of any state of the United States and may not be offered, sold
or delivered, directly or indirectly in the United States or to, or for the account or
benefit of, a "U.S. person" (as defined in Regulation S under the
Securities Act), except pursuant to an exemption from, or in a
transaction not subject to, the registration requirements of the
Securities Act. This press release does not constitute an offer to
sell or a solicitation to buy securities in the United States or in any other jurisdiction
where such offer or solicitation would be unlawful.
For further information, please contact:
Investor Contact:
Asim
Imran, Investor Relations, asim.imran@rbc.com,
416-955-7804
Media contact:
Gillian
McArdle, Financial
Communications, gillian.mcardle@rbc.com, 416-842-4231
SOURCE Royal Bank of Canada
