TORONTO, Aug. 15, 2019 /CNW/ - Royal Bank of Canada (RY on TSX and NYSE) today announced
that during the conversion notice period, which ran from
July 25, 2019 to August 9, 2019, 210,844 Non-Viability Contingent
Capital (NVCC) Non-Cumulative 5-Year Rate Reset First
Preferred Shares, Series BB (the "Series BB shares") were tendered
for conversion, on a one-for-one basis, into NVCC Non-Cumulative
Floating Rate First Preferred Shares, Series BC (the "Series BC
shares"). As per the conditions set out in the prospectus
supplement dated May 27, 2014, since
less than 1,000,000 Series BC shares would be outstanding after
August 24, 2019, holders of Series BB
shares will not be entitled to convert their shares into Series BC
shares. As a result, Series BC shares will not be issued at this
time and holders of Series BB shares will retain their shares.
On August 24, 2019, Royal Bank of
Canada will have 20,000,000 Series
BB shares issued and outstanding. The Series BB shares are
currently listed on the Toronto Stock Exchange under the symbol
RY.PR.H.
SOURCE Royal Bank of Canada