5 Responses to “January 18, 2024”

1. paullo says:

   January 19, 2024 at 8:52 am

   By the way, FTS.PR.K going to be extended. Got an email from FTS in my BMO account outlining the option to move to floating.

2. IrateAR says:

   January 19, 2024 at 5:50 pm

   https://www.rbc.com/newsroom/news/article.html?article=125864

3. jambr403 says:

   January 20, 2024 at 10:33 am

   IrateAR – Thanks for sharing the link. That’s interesting that RY is issuing more preferreds at 7.4%:

   “The Preferred Shares Series BU will yield 7.408 per cent annually, payable semi-annually, as and when declared by the Board of Directors of Royal Bank of Canada, for the initial period ending February 24, 2029. Thereafter, the dividend rate will reset every five years at a rate equal to 3.90 per cent over the 5-year Government of Canada bond yield.”

   Might need to swap my TSE:RY-S shares into these when they begin trading and if you can buy them under or close to par.

4. jambr403 says:

   January 20, 2024 at 10:35 am

   How would one get in on the initial offering of this? I’d be willing to buy 2K shares at $25 but don’t know how.

5. jiHymas says:

   January 20, 2024 at 11:28 am

   Might need to swap my TSE:RY-S shares into these when they begin trading and if you can buy them under or close to par.
   …
   How would one get in on the initial offering of this? I’d be willing to buy 2K shares at $25 but don’t know how.

   Better check the prospectus … from the previous issue:

   The Preferred Shares Series BT may only be offered and sold to “accredited investors” (as such term is defined in National Instrument 45-106 – Prospectus Exemptions (“NI 45-106”) or section 73.3 of the Securities Act (Ontario), as applicable) who are not individuals unless they are also “permitted clients” (as such term is defined in National Instrument 31-103 – Registration Requirements, Exemptions and Ongoing Registrant Obligations (“NI 31-103”)). Each Agent will represent and covenant, severally and not on a joint and several basis, to the Bank that it will only sell the Preferred Shares Series BT to such purchasers. By purchasing Preferred Shares Series BT and accepting delivery of a purchase confirmation such purchaser will be deemed to represent to the Bank and the Agent from whom the purchase confirmation is received that such purchaser is an “accredited investor” (as such term is defined in NI 45-106 or section 73.3 of the Securities Act (Ontario), as applicable) who is not an individual unless such purchaser is also a “permitted client” (as such term is defined in NI 31- 103).
   …
   Subscriptions for Preferred Shares Series BT must be for a minimum of 200 shares for a minimum aggregate subscription price of $200,000.