By Wendy Van Sickle
Columbus, Ohio, March 21 – Royal Bank of Canada priced $73 million of floating-rate notes due March 18, 2025 linked to the two-year U.S. dollar SOFR ICE swap rate, according to a 424B2 filing with the Securities and Exchange Commission.
The interest rate is SOFR ICE swap rate, with a floor of 2.25%. Interest is payable quarterly.
The payout at maturity will be par.
RBC Capital Markets, LLC is the agent.
| Issuer: | Royal Bank of Canada
|
| Issue: | Floating-rate notes
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| Underlying rate: | Two-year U.S. dollar SOFR ICE swap rate
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| Amount: | $73 million
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| Maturity: | March 18, 2025
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| Coupon: | SOFR ICE swap rate, floor of 2.25%; payable quarterly
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| Price: | Variable
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| Payout at maturity: | Par
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| Pricing date: | March 16
|
| Settlement date: | March 18
|
| Agent: | RBC Capital Markets, LLC
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| Cusip: | 78014REB2
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