Royal Bank of Canada has announced:
it has closed its domestic public offering of Non-Cumulative, 5-Year Rate Reset Preferred Shares Series AZ. Royal Bank of Canada issued 20 million Preferred Shares Series AZ at a price of $25 per share to raise gross proceeds of $500 million.
The offering was underwritten by a syndicate led by RBC Capital Markets. The Preferred Shares Series AZ will commence trading on the Toronto Stock Exchange today under the ticker symbol RY.PR.Z.
The Preferred Shares Series AZ were issued under a prospectus supplement dated January 23, 2014 to the bank’s short form base shelf prospectus dated
December 20, 2013.
RY.PR.Z is a NVCC-compliant FixedReset, 4.00%+221, announced January 21. This issue will be tracked by HIMIPref™ and is assigned to the FixedReset subindex.
The issue traded 1,429,936 shares today in a range of 24.75-97 before closing at 24.95-96, 26×77. Vital statistics are:
Maturity Type : Limit Maturity
Maturity Date : 2044-01-30
Maturity Price : 23.13
Evaluated at bid price : 24.95
Bid-YTW : 3.76 %