{"id":3025,"date":"2008-09-16T17:22:33","date_gmt":"2008-09-16T21:22:33","guid":{"rendered":"http:\/\/www.prefblog.com\/?p=3025"},"modified":"2008-09-16T17:22:33","modified_gmt":"2008-09-16T21:22:33","slug":"rypri-eases-in-on-heavy-volume","status":"publish","type":"post","link":"https:\/\/prefblog.com\/?p=3025","title":{"rendered":"RY.PR.I Eases in on Heavy Volume"},"content":{"rendered":"<p>The <a href=\"http:\/\/www.prefblog.com\/?p=2870\">new issue announced September 8<\/a> settled today. Oddly, the ticker symbol is RY.PR.<b>I<\/b>, although the issue is Series <b>AJ<\/b>. It&#8217;s a shame, because they have been doing so well with series AA through AH of keeping the series designation congruent with the ticker &#8230; no telling how many trading errors that will cause over the life of the issue! Well, it solidifies <a href=\"http:\/www.prefinfo.com\">PrefInfo<\/a>&#8216;s status as a useful site, anyway!<\/p>\n<p>Royal <a href=\"http:\/\/www.rbc.com\/newsroom\/2008\/0908-series.html\">announced on September 8<\/a>:<\/p>\n<blockquote><p>as a result of strong investor demand for its domestic public offering of Non-Cumulative, 5 year rate reset Preferred Shares Series AJ (the &#8220;Preferred Shares Series AJ&#8221;), the size of the offering has been increased to 14 million shares. The gross proceeds of the offering will now be $350 million. In addition, the bank has granted the Underwriters an option, exercisable in whole or in part, to purchase up to an additional 2 million Preferred Shares Series AJ at a price of $25 per share.<\/p><\/blockquote>\n<p>This was a significant increase, given that the original issue size was announced as 9-million shares (=$225-million) + greenshoe.<\/p>\n<p>I see nothing on Royal&#8217;s website or on SEDAR regarding exercise or expiry of the greenshoe.<\/p>\n<p>The issue traded 611,570 shares today in a range of 24.90-00. The closing quote was 24.95-98.<\/p>\n<p>RY.PR.I is tracked by HIMIPref&trade;. It has been added to the FixedReset Index.<\/p>\n","protected":false},"excerpt":{"rendered":"<p>The new issue announced September 8 settled today. Oddly, the ticker symbol is RY.PR.I, although the issue is Series AJ. It&#8217;s a shame, because they have been doing so well with series AA through AH &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-3025","post","type-post","status-publish","format-standard","hentry","category-issue-comments"],"_links":{"self":[{"href":"https:\/\/prefblog.com\/index.php?rest_route=\/wp\/v2\/posts\/3025","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=3025"}],"version-history":[{"count":0,"href":"https:\/\/prefblog.com\/index.php?rest_route=\/wp\/v2\/posts\/3025\/revisions"}],"wp:attachment":[{"href":"https:\/\/prefblog.com\/index.php?rest_route=%2Fwp%2Fv2%2Fmedia&parent=3025"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/prefblog.com\/index.php?rest_route=%2Fwp%2Fv2%2Fcategories&post=3025"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/prefblog.com\/index.php?rest_route=%2Fwp%2Fv2%2Ftags&post=3025"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}