By Angela McDaniels
Tacoma, Wash., March 17 - Royal Bank of Canada priced $11.3 million of redeemable step-up notes due March 19, 2021, according to a 424B2 filing with the Securities and Exchange Commission.
The interest rate is 2.25% in years one through five and 3.5% in years six and seven. Interest is payable semiannually.
The payout at maturity will be par.
The notes are callable on March 19, 2019.
RBC Capital Markets, LLC is the underwriter.
| Issuer: | Royal Bank of Canada
|
| Issue: | Redeemable step-up notes
|
| Amount: | $11.3 million
|
| Maturity: | March 19, 2021
|
| Coupon: | 2.25% in years one through five and 3.5% in years six and seven; payable semiannually
|
| Price: | Varying prices
|
| Payout at maturity: | Par
|
| Call option: | On March 19, 2019
|
| Pricing date: | March 14
|
| Settlement date: | March 19
|
| Underwriter: | RBC Capital Markets, LLC
|
| Fees: | Underwriter will purchase notes at prices from 98.875 to 99
|
| Cusip: | 78010UDY0
|
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