Royal Bank of Canada announces Preferred Share issue

TORONTO, Jan. 21, 2014 /CNW/ - Royal Bank of Canada (RY on TSX and NYSE) today 
announced an inaugural Basel III-compliant domestic public offering of $200 
million of Non-Cumulative, 5-Year Rate Reset Preferred Shares Series AZ. 
Royal Bank of Canada will issue 8 million Preferred Shares Series AZ priced at 
$25 per share and holders will be entitled to receive a non-cumulative 
quarterly fixed dividend for the initial period ending May 24, 2014 in the 
amount of $0.3123 per share, to yield 4.00 per cent annually. 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 AZ at the same 
offering price. 
Subject to regulatory approval, on or after May 24, 2019, the bank may redeem 
the Preferred Shares Series AZ in whole or in part at par. Thereafter, the 
dividend rate will reset every five years at a rate equal to 2.21 per cent 
over the 5-year Government of Canada bond yield. Holders of Preferred Shares 
Series AZ will, subject to certain conditions, have the right to convert all 
or any part of their shares to Non-Cumulative Floating Rate Preferred Shares 
Series BA on May 24, 2019 and on May 24 every five years thereafter. 
Holders of the Preferred Shares Series BA will be entitled to receive a 
non-cumulative quarterly floating dividend at a rate equal to the 3-month 
Government of Canada Treasury Bill yield plus 2.21 per cent. Holders of 
Preferred Shares Series BA will, subject to certain conditions, have the right 
to convert all or any part of their shares to Preferred Shares Series AZ on 
May 24, 2024 and on May 24 every five years thereafter. 
The offering will be underwritten by a syndicate led by RBC Capital Markets. 
The expected closing date is January 30, 2014. 
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.
 

SOURCE  RBC 
Investor Contact: Shirley Boudreau, Shareholder Relations, 416-955-7806 Karen 
McCarthy, Investor Relations, 416-955-7809 
Media Contact: Tanis Feasby, Communications, 416-955-5172 
To view this news release in HTML formatting, please use the following URL: 
http://www.newswire.ca/en/releases/archive/January2014/21/c9926.html 
CO: RRYIR
ST: Ontario
NI: FIN NEWSTK  
-0- Jan/21/2014 15:52 GMT
 
 
Press spacebar to pause and continue. Press esc to stop.