Published on 5/3/2021 in the Prospect News Structured Products Daily.
New Issue: RBC prices $50 million capped floating-rate notes due 2024
By Wendy Van Sickle
Columbus, Ohio, May 3 – Royal Bank of Canada priced $50 million of capped floating-rate notes due April 30, 2024, according to a 424B2 filing with the Securities and Exchange Commission.
The interest rate is two-year CMS rate, subject to a coupon floor of 0% and a cap of 0.55% for the first two years after which the cap will rise to 1%. Interest is payable quarterly.
RBC Capital Markets, LLC is the underwriter.
| Issuer: | Royal Bank of Canada
|
| Issue: | Capped floating-rate notes
|
| Amount: | $50 million
|
| Maturity: | April 30, 2024
|
| Coupon: | Two-year CMS rate, subject to a floor of 0% and a cap of 0.55% for the first two years after which the cap will rise to 1%; payable quarterly
|
| Price: | Variable
|
| Call option: | No
|
| Pricing date: | April 23
|
| Settlement date: | April 30
|
| Agent: | RBC Capital Markets, LLC
|
| Cusip: | 78014RDM9
|
|
|
© 2015 Prospect News.
All content on this website is protected by copyright law in the U.S. and elsewhere.
For the use of the person downloading only.
Redistribution and copying are prohibited by law without written permission in advance from Prospect News.
Redistribution or copying includes e-mailing, printing multiple copies or any other form of reproduction.
