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MarketScreener Homepage  >  Equities  >  Toronto Stock Exchange  >  Royal Bank of Canada    RY   CA7800871021

ROYAL BANK OF CANADA

(RY)
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Delayed Quote. Delayed Toronto Stock Exchange - 12/02 11:07:07 am
106.66 CAD   -0.36%
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Royal Bank of Canada : announces conversion privileges of NVCC Non-Cumulative 5-Year Rate Reset First Preferred Shares Series BF

10/09/2020 | 08:35am EST

TORONTO, Oct. 9, 2020 /CNW/ - Royal Bank of Canada (TSX: RY) (NYSE: RY) today announced that it does not intend to exercise its right to redeem all or any part of the currently outstanding Non-Viability Contingent Capital (NVCC) Non-Cumulative 5-Year Rate Reset First Preferred Shares, Series BF (RY.PR.M on TSX) (the "Series BF shares") on November 24, 2020. There are currently 12,000,000 Series BF shares outstanding.

Subject to certain conditions set out in the prospectus supplement dated March 9, 2015 relating to the issuance of the Series BF shares, the holders of the Series BF shares have the right to convert all or part of their Series BF shares, on a one-for-one basis, into NVCC Non-Cumulative Floating Rate First Preferred Shares, Series BG (the "Series BG shares") on November 24, 2020. On such date, holders who do not exercise their right to convert their Series BF shares into Series BG shares will continue to hold their Series BF shares. The foregoing conversion rights are subject to the following:

i

if Royal Bank of Canada determines that there would be less than 1,000,000 Series BG shares outstanding after taking into account all shares tendered for conversion on November 24, 2020, then holders of Series BF shares will not be entitled to convert their shares into Series BG shares, and



ii

alternatively, if Royal Bank of Canada determines that there would remain outstanding less than 1,000,000 Series BF shares after taking into account all shares tendered for conversion on November 24, 2020, then all remaining Series BF shares will automatically be converted into Series BG shares on a one-for-one basis on November 24, 2020.

In either case, Royal Bank of Canada will give written notice to that effect to holders of Series BF shares no later than November 17, 2020.

The dividend rate applicable for the Series BF shares for the 5-year period from and including November 24, 2020 to, but excluding, November 24, 2025, and the dividend rate applicable to the Series BG shares for the 3-month period from and including November 24, 2020 to, but excluding, February 24, 2021, will be determined and announced by way of a press release on October 26, 2020.

Beneficial owners of Series BF shares who wish to exercise their conversion rights should instruct their broker or other nominee to exercise such rights during the conversion period, which runs from October 26, 2020 until 5:00 p.m. (EST) on November 9, 2020.

Inquiries should be directed to Shareholder Relations Officer, Shirley Boudreau, at 416-955-7806.

SOURCE Royal Bank of Canada

© Canada Newswire, source Canada Newswire English

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Financials
Sales 2020 46 655 M 36 067 M 36 067 M
Net income 2020 10 995 M 8 500 M 8 500 M
Net Debt 2020 - - -
P/E ratio 2020 14,1x
Yield 2020 4,00%
Capitalization 152 B 118 B 118 B
Capi. / Sales 2020 3,26x
Capi. / Sales 2021 3,28x
Nbr of Employees 83 734
Free-Float 96,4%
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Technical analysis trends ROYAL BANK OF CANADA
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Income Statement Evolution
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Mean consensus OUTPERFORM
Number of Analysts 16
Average target price 108,96 CAD
Last Close Price 107,04 CAD
Spread / Highest target 18,6%
Spread / Average Target 1,80%
Spread / Lowest Target -16,9%
EPS Revisions
Managers
NameTitle
David Ian McKay President, Chief Executive Officer & Director
Kathleen Patricia Taylor Chairman
Bruce Ross Group Head-Technology & Operations
Rod Bolger Chief Financial Officer
Foteini Agrafioti Chief Science Officer
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