TORONTO, May 14, 2019 /CNW/ - Royal Bank of Canada (RY on TSX and NYSE) today announced
that, during the conversion notice period which ran from
April 24, 2019 to May 9, 2019, 647,939 Non-Viability Contingent
Capital (NVCC) Non-Cumulative 5-Year Rate Reset First Preferred
Shares, Series AZ (the "Series AZ shares") were elected for
conversion, on a one-for-one basis, into NVCC Non-Cumulative
Floating Rate First Preferred Shares, Series BA (the "Series BA
shares"). As per the conditions set out in the prospectus
supplement dated January 23, 2014,
since less than 1,000,000 Series BA shares would be outstanding
after May 24, 2019, holders of Series
AZ shares will not be entitled to convert their shares into Series
BA shares. As a result, Series BA shares will not be issued at this
time.
On May 24, 2019, Royal Bank of
Canada will have 20,000,000 Series
AZ shares issued and outstanding. The Series AZ shares are
currently listed on the Toronto Stock Exchange under the symbol
RY.PR.Z.
SOURCE Royal Bank of Canada