RY.PR.O Weak On Light Volume

Royal Bank of Canada has announced:

it has closed its domestic public offering of Non-Cumulative, Preferred Shares Series BI. Royal Bank of Canada issued 6 million Preferred Shares Series BI at a price of $25 per share to raise gross proceeds of $150 million.

The offering was underwritten by a syndicate led by RBC Capital Markets. The Preferred Shares Series BI will commence trading on the Toronto Stock Exchange today under the ticker symbol RY.PR.O.

The Preferred Shares Series BI were issued under a prospectus supplement dated July 16, 2015 to the bank’s short form base shelf prospectus dated December 20, 2013.

RY.PR.O is a NVCC-compliant Straight Perpetual paying 4.90%, announced July 14. It will be tracked by HIMIPref™ and has been assigned to the PerpetualDiscounts subindex.

The issue traded 254,478 shares today (consolidated exchanges) in a range of 24.52-65 before closing at 24.57-60. Vital statistics are:

RY.PR.O Perpetual-Discount YTW SCENARIO
Maturity Type : Limit Maturity
Maturity Date : 2045-07-22
Maturity Price : 24.20
Evaluated at bid price : 24.57
Bid-YTW : 4.99 %

The performance of this issue is actually worse than it looks, since the HIMIPref™ PerpetualDiscounts index is up 1.23% since July 14.

2 Responses to “RY.PR.O Weak On Light Volume”

  1. FletcherLynd says:


    There is an old RY.PR.O on PrefInfo.com that might confuse people.

    When you say this issue will be tracked by HIMIPref™ does that typically mean a PrefInfo line is created?


  2. jiHymas says:

    Fixed it!

    Tracking it with HIMIPref™ means that I have added it to my price-recovery lists and defined the issue in the HIMIPref™ database; regrettably, there is no programmatic connection between HIMIPref™ and prefInfo.com and all changes to the latter have to be made manually and separately.

    I update prefinfo.com whenever I can find the time; this doesn’t happen as often as I would like – but I will make changes whenever anybody considers it important enough to tell me about a problem.

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