Royal Bank of Canada announces increase to preferred share issue

 TORONTO, Jan. 21, 2014 /CNW/ - Royal Bank of Canada (RY on TSX and NYSE) today  announced that as a result of strong investor demand for its previously  announced domestic public offering of Non-Cumulative, 5-Year Rate Reset  Preferred Shares Series AZ, the size of the offering has been increased to 20  million shares. The gross proceeds of the offering will now be $500 million.  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  Or visit the site:http://www.rbc.com/investorrelations/  To view this news release in HTML formatting, please use the following URL:  http://www.newswire.ca/en/releases/archive/January2014/21/c4131.html  CO: RRYIR ST: Ontario NI: FIN NEWSTK