Royal Bank of Canada to repurchase up to 30 million of its common shares

Royal Bank of Canada to repurchase up to 30 million of its common shares 
TORONTO, Oct. 21, 2013 /CNW/ - Royal Bank of Canada ("RY" on TSX and NYSE) 
today announced its intention, subject to the approval of the Office of the 
Superintendent of Financial Institutions (OSFI) and the Toronto Stock 
Exchange, to commence a normal course issuer bid through the facilities of the 
Toronto Stock Exchange and to repurchase for cancellation up to 30 million of 
its common shares, representing approximately 2.1 per cent of the bank's 
outstanding common shares as at September 30, 2013. On September 30, 2013, 
there were 1,440,836,221 common shares outstanding. The bank intends to file a 
notice of intention with the Toronto Stock Exchange in this regard. 
Purchases may commence on November 1, 2013, provided the Toronto Stock 
Exchange has accepted the notice of intention, and may continue until October 
31, 2014. The amount and timing of any purchases will be determined by the 
bank, except that the amount of purchases on any given day will not exceed 
611,400 common shares, which is 25% of the average daily trading volume on the 
Toronto Stock Exchange for the six months ending September 30, 2013. Purchases 
may be made through the Toronto Stock Exchange as well as through other 
designated exchanges and published markets, in both Canada and the U.S. The 
price paid for any repurchased shares will be the prevailing market price at 
the time of acquisition. 
The proposed share repurchases will enable the bank to balance the imperatives 
of maintaining strong capital ratios with the ongoing need to generate 
shareholder value. On July 31, 2013, the bank's Common Equity Tier 1, Tier 1 
and Total capital ratios were 9.2 per cent, 11.3 per cent and 13.7 per cent, 
Caution regarding forward-looking statements 
Certain statements contained in this press release may be deemed to be 
forward-looking statements within the meaning of certain securities laws, 
including the "safe harbour" provisions of the United States Private 
Securities Litigation Reform Act of 1995 and any applicable Canadian 
securities legislation. These forward-looking statements include, but are not 
limited to, statements with respect to the proposed normal course issuer bid 
by Royal Bank of Canada. Forward-looking statements are typically identified 
by words such as "believe", "expect", "foresee", "forecast", "anticipate", 
"intend", "estimate", "goal", "plan" and "project" and similar expressions of 
future or conditional verbs such as "will", "may", "should", "could" or 
By their very nature, forward-looking statements require us to make 
assumptions and are subject to inherent risks and uncertainties, which give 
rise to the possibility that our predictions, forecasts, projections, 
expectations or conclusions will not prove to be accurate, that our 
assumptions may not be correct and that our forward-looking statements, 
including statements about the proposed normal course issuer bid by Royal Bank 
of Canada, will not be achieved. We caution readers not to place undue 
reliance on these statements as a number of risk factors could cause our 
actual results to differ materially from the expectations expressed in such 
forward-looking statements. These factors - many of which are beyond our 
control and the effects of which can be difficult to predict - include: 
credit, market, liquidity and funding, operational, legal and regulatory 
compliance, insurance, reputation and strategic risks and other risks 
discussed in the Risk management sections of our 2012 Annual Report and in our 
Q3 2013 Report to Shareholders; the impact of changes in laws and regulations; 
general business and economic market conditions in Canada, the United States 
and certain other countries in which we operate, including the effects of the 
European sovereign debt crisis, and the high levels of Canadian household 
debt; the effects of changes in government fiscal, monetary and other 
policies; and judicial or regulatory judgments and legal proceedings. 
We caution that the foregoing list of risk factors is not exhaustive and other 
factors could also adversely affect our results. When relying on our 
forward-looking statements to make decisions with respect to us, investors and 
others should carefully consider the foregoing factors and other uncertainties 
and potential events. Material economic assumptions underlying the forward 
looking statements contained in this press release are set out in the Overview 
and outlook section and for each business segment under the heading Outlook 
and priorities in our 2012 Annual Report, as updated by the overview section 
of our Q3 2013 Report to Shareholders. Additional information about these and 
other factors can be found in the Risk management and Overview of other risks 
sections of our 2012 Annual Report and in the Risk management section of our 
Q3 2013 Report to Shareholders. Except as required by law, we do not undertake 
to update any forward-looking statement contained in this press release.

Investor Contact: Karen McCarthy, Investor Relations, 416 
Media Contact: Seema Sharma, Corporate Communications, 416 
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ST: Ontario
-0- Oct/21/2013 12:45 GMT
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