/NOT FOR DISTRIBUTION TO U.S. NEWSWIRE SERVICES OR FOR DISSEMINATION IN
THE UNITED STATES/
TORONTO, Sept. 24, 2015 /CNW/ - Royal Bank of Canada (RY on TSX and
NYSE) today announced a domestic public offering of Non-Cumulative,
Preferred Shares Series BJ.
Royal Bank of Canada will issue 6 million Preferred Shares Series BJ
priced at $25 per share to raise gross proceeds of $150 million. 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
BJ at the same offering price.
The Preferred Shares Series BJ will yield 5.25 per cent annually,
payable quarterly, as and when declared by the Board of Directors of
Royal Bank of Canada.
Subject to regulatory approval, on or after February 24, 2021, the bank
may redeem the Preferred Shares Series BJ in whole or in part at a
The offering will be underwritten by a syndicate led by RBC Capital
Markets. The expected closing date is October 2, 2015.
We routinely undertake funding transactions to maintain strong capital
ratios and a cost effective capital structure. Net proceeds from this
transaction will be used for general business purposes.
The Preferred Shares Series BJ 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.
For further information:
Julia Macleod, Investor Relations, 416-955-7302
Seema Sharma, Financial Communications, 416-974-5606