TORONTO, May 14, 2020 /CNW/ - Royal Bank of
Canada (RY on TSX and NYSE) today
announced that during the conversion notice period, which ran from
April 24, 2020 to May 11, 2020, 325,968 Non-Viability Contingent
Capital (NVCC) Non-Cumulative 5-Year Rate Reset First
Preferred Shares, Series BD (the "Series BD shares") were tendered
for conversion, on a one-for-one basis, into NVCC Non-Cumulative
Floating Rate First Preferred Shares, Series BE (the "Series BE
shares"). As per the conditions set out in the prospectus
supplement dated January 27, 2015,
since less than 1,000,000 Series BE shares would be outstanding
after May 24, 2020, holders of Series
BD shares will not be entitled to convert their shares into Series
BE shares. As a result, Series BE shares will not be issued at this
time and holders of Series BD shares will retain their shares.
On May 24, 2020, Royal Bank of
Canada will have 24,000,000 Series
BD shares issued and outstanding. The Series BD shares are
currently listed on the Toronto Stock Exchange under the symbol
RY.PR.J.
SOURCE Royal Bank of Canada