Royal Bank of Canada announces closing of $600 million NVCC Preferred Share offering

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TORONTO, Jan. 30, 2015 /CNW/ - Royal Bank of Canada (RY on TSX and NYSE) today announced it has closed its domestic public offering of Non-Cumulative, 5-Year Rate Reset Preferred Shares Series BD. Royal Bank of Canada issued 24 million Preferred Shares Series BD at a price of $25 per share to raise gross proceeds of $600 million.

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

The Preferred Shares Series BD were issued under a prospectus supplement dated January 27, 2015 to the bank's short form base shelf prospectus dated December 20, 2013.

The Preferred Shares Series BD have not been and will not be registered in the United States under the United States Securities Act of 1933, as amended (the "Securities Act"), or the securities laws of any state of the United States and may not be offered, sold or delivered, directly or indirectly in the United States or to, or for the account or benefit of, a "U.S. person" (as defined in Regulation S under the Securities Act) absent registration under the Securities Act or an applicable exemption from such registration requirements. This press release does not constitute an offer to sell or a solicitation to buy securities in the United States or in any other jurisdiction where such offer or solicitation would be unlawful.

SOURCE RBC