TORONTO, Aug. 15, 2019 /CNW/ - Royal Bank of Canada (RY on TSX and NYSE) today announced that during the conversion notice period, which ran from July 25, 2019 to August 9, 2019, 210,844 Non-Viability Contingent Capital (NVCC) Non-Cumulative 5-Year Rate Reset First Preferred Shares, Series BB (the "Series BB shares") were tendered for conversion, on a one-for-one basis, into NVCC Non-Cumulative Floating Rate First Preferred Shares, Series BC (the "Series BC shares"). As per the conditions set out in the prospectus supplement dated May 27, 2014, since less than 1,000,000 Series BC shares would be outstanding after August 24, 2019, holders of Series BB shares will not be entitled to convert their shares into Series BC shares. As a result, Series BC shares will not be issued at this time and holders of Series BB shares will retain their shares.
On August 24, 2019, Royal Bank of Canada will have 20,000,000 Series BB shares issued and outstanding. The Series BB shares are currently listed on the Toronto Stock Exchange under the symbol RY.PR.H.
SOURCE Royal Bank of Canada
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