Royal Bank of Canada announces closing of $675 million NVCC Preferred Share offering

/NOT FOR DISTRIBUTION TO U.S. NEWSWIRE SERVICES OR FOR DISSEMINATION IN THE UNITED STATES/

TORONTO, Dec. 16, 2015 /CNW/ - Royal Bank of Canada (RY on TSX and NYSE) today announced it has closed its domestic public offering of Non-Cumulative, 5-Year Rate Reset Preferred Shares Series BK. Royal Bank of Canada issued 27 million Preferred Shares Series BK at a price of $25 per share to raise gross proceeds of $675 million.

The offering was underwritten by a syndicate led by RBC Capital Markets. The Preferred Shares Series BK will commence trading on the Toronto Stock Exchange today under the ticker symbol RY.PR.Q.

The bank has granted the underwriters' an option, exercisable in whole or in part, to purchase up to an additional 2 million Preferred Shares Series BK at the same offering price.  The underwriters have 30 days from the closing of the preferred share offering to exercise the option.

The Preferred Shares Series BK were issued under a prospectus supplement dated December 10, 2015 to the bank's short form base shelf prospectus dated December 20, 2013.

The Preferred Shares Series BK have not been and will not be registered in the United States 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) absent registration under the Securities Act or an applicable exemption from such registration requirements. 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.

SOURCE RBC

For further information:

Investor Contact:
Shirley Boudreau, Shareholder Relations, 416-955-7806
Julia Macleod, Investor Relations, 416-955-7302

Media Contact: 
Sandra Nunes, Financial Communications, 416-974-1794


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