Royal Bank of Canada announces closing of $750 million NVCC Preferred Share offering


TORONTO, March 7, 2016 /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 BM. Royal Bank of Canada issued 30 million Preferred Shares Series BM at a price of $25 per share to raise gross proceeds of $750 million.

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

The Preferred Shares Series BM were issued under a prospectus supplement dated February 29, 2016 to the bank's short form base shelf prospectus dated January 21, 2016.

The Preferred Shares Series BM 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 Royal Bank of Canada

For further information: Investor Contact: Shirley Boudreau, Shareholder Relations, 416-955-7806,; Julia Macleod, Investor Relations, 416-955-7302,; Media Contact: Seema Sharma, Financial Communications, 416-974-5606,

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