Royal Bank of Canada announces exercise of underwriters' option on NVCC preferred share issue

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

TORONTO, Dec. 29, 2015 /CNW/ - Royal Bank of Canada (RY on TSX and NYSE) today announced that, in connection with its recently announced domestic public offering of 27 million 5.5% Non-Cumulative, 5-Year Rate Reset Preferred Shares Series BK (the "Series BK Shares"), the underwriters have exercised their option (the "Underwriters' Option") to purchase an additional 2 million Series BK Shares at a price of $25.00 per share. Royal Bank of Canada will receive additional gross proceeds of $50,000,000 from the exercise of the Underwriters' Option, increasing the total size of the offering to $725,000,000.

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
Stephanie Phillips, Investor Relations, 416-955-7809

Media Contact:
Seema Sharma, Financial Communications, 416-974-5606


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