Royal Bank of Canada announces results of NVCC Non-Cumulative 5-Year Rate Reset First Preferred Shares Series BD conversion p...

TORONTO, May 14, 2020 /CNW/ - Royal Bank of Canada (RY on TSX and NYSE) today announced that during the conversion notice period, which ran from April 24, 2020 to May 11, 2020, 325,968 Non-Viability Contingent Capital (NVCC) Non-Cumulative 5-Year Rate Reset First Preferred Shares, Series BD (the "Series BD shares") were tendered for conversion, on a one-for-one basis, into NVCC Non-Cumulative Floating Rate First Preferred Shares, Series BE (the "Series BE shares"). As per the conditions set out in the prospectus supplement dated January 27, 2015, since less than 1,000,000 Series BE shares would be outstanding after May 24, 2020, holders of Series BD shares will not be entitled to convert their shares into Series BE shares. As a result, Series BE shares will not be issued at this time and holders of Series BD shares will retain their shares.

On May 24, 2020, Royal Bank of Canada will have 24,000,000 Series BD shares issued and outstanding. The Series BD shares are currently listed on the Toronto Stock Exchange under the symbol RY.PR.J.

SOURCE Royal Bank of Canada

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