{"id":25451,"date":"2014-06-03T21:31:25","date_gmt":"2014-06-04T02:31:25","guid":{"rendered":"http:\/\/prefblog.com\/?p=25451"},"modified":"2014-06-03T21:31:25","modified_gmt":"2014-06-04T02:31:25","slug":"ry-pr-h-closes-soft-on-excellent-volume","status":"publish","type":"post","link":"https:\/\/prefblog.com\/?p=25451","title":{"rendered":"RY.PR.H Closes Soft on Excellent Volume"},"content":{"rendered":"<p>Royal Bank of Canada <a href=\"http:\/\/www.rbc.com\/newsroom\/news\/2014\/20140603-prefshares.html\">has announced<\/a>:<\/p>\n<blockquote><p> it has closed its domestic public offering of Non-Cumulative, 5-Year Rate Reset Preferred Shares Series BB. Royal Bank of Canada issued 20 million Preferred Shares Series BB at a price of $25 per share to raise gross proceeds of $500 million.<\/p>\n<p>The offering was underwritten by a syndicate led by RBC Capital Markets. The Preferred Shares Series BB will commence trading on the Toronto Stock Exchange today under the ticker symbol RY.PR.H.<\/p>\n<p>The Preferred Shares Series BB were issued under a prospectus supplement dated May 27, 2014 to the bank\u2019s short form base shelf prospectus dated December 20, 2013.<\/p><\/blockquote>\n<p>RY.PR.H is a FixedReset, 3.90%+226, NVCC-Compliant issue <a href=\"http:\/\/prefblog.com\/?p=25328\">announced May 23<\/a>. The issue will be tracked by HIMIPref&trade; and has been assigned to the FixedReset subindex. It is regrettable that the Toronto Exchange has recycled the ticker of <a href=\"http:\/\/prefblog.com\/?p=22090\">the previous RY.PR.H, redeemed less than a year ago<\/a>.<\/p>\n<p>The issue traded a healthy 1,328,901 shares today in an unusually wide range of 24.64-99 before closing at 24.86-88, 37&#215;72. The issue was affected by a late-afternoon collapse in the market; it was trading firmly in the 90s prior to 3pm, as reflected in the Volume Weighted Average Price: 24.944985. Vital Statistics are:<\/p>\n<div align=\"center\">\n<table border=\"1\">\n<tr>\n<td>RY.PR.H<\/td>\n<td>FixedReset<\/td>\n<td>YTW SCENARIO<br \/>\nMaturity Type   : Limit Maturity<br \/>\nMaturity Date\t: 2044-06-03<br \/>\nMaturity Price  : 23.10<br \/>\nEvaluated at bid price : 24.86<br \/>\nBid-YTW : 3.75 %<\/td>\n<\/tr>\n<\/table>\n<\/div>\n<p>The two NVCC-compliant issues are priced comparatively with their non-compliant cousins according to Implied Volatility Theory:<\/p>\n<div align=\"center\"><a href=\"http:\/\/prefblog.com\/wp-content\/uploads\/2014\/06\/ImpVol_RY_140603.jpg\"><img loading=\"lazy\" decoding=\"async\" src=\"http:\/\/prefblog.com\/wp-content\/uploads\/2014\/06\/ImpVol_RY_140603-300x246.jpg\" alt=\"ImpVol_RY_140603\" width=\"300\" height=\"246\" class=\"alignnone size-medium wp-image-25455\" \/><\/a><br \/><i>Click for Big<\/i><\/div>\n","protected":false},"excerpt":{"rendered":"<p>Royal Bank of Canada has announced: it has closed its domestic public offering of Non-Cumulative, 5-Year Rate Reset Preferred Shares Series BB. Royal Bank of Canada issued 20 million Preferred Shares Series BB at a &hellip;<\/p>\n","protected":false},"author":1,"featured_media":0,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[13],"tags":[],"class_list":["post-25451","post","type-post","status-publish","format-standard","hentry","category-issue-comments"],"_links":{"self":[{"href":"https:\/\/prefblog.com\/index.php?rest_route=\/wp\/v2\/posts\/25451","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/prefblog.com\/index.php?rest_route=\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/prefblog.com\/index.php?rest_route=\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/prefblog.com\/index.php?rest_route=\/wp\/v2\/users\/1"}],"replies":[{"embeddable":true,"href":"https:\/\/prefblog.com\/index.php?rest_route=%2Fwp%2Fv2%2Fcomments&post=25451"}],"version-history":[{"count":0,"href":"https:\/\/prefblog.com\/index.php?rest_route=\/wp\/v2\/posts\/25451\/revisions"}],"wp:attachment":[{"href":"https:\/\/prefblog.com\/index.php?rest_route=%2Fwp%2Fv2%2Fmedia&parent=25451"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/prefblog.com\/index.php?rest_route=%2Fwp%2Fv2%2Fcategories&post=25451"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/prefblog.com\/index.php?rest_route=%2Fwp%2Fv2%2Ftags&post=25451"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}