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Royal Bank of Canada announces closing of $500 million Preferred Share offering

TORONTO, Jan. 30, 2014 /CNW/ - Royal Bank of Canada (RY on TSX and NYSE) today announced it has closed its domestic public offering of Non-Cumulative, 5-Year Rate Reset Preferred Shares Series AZ. Royal Bank of Canada issued 20 million Preferred Shares Series AZ at a price of $25 per share to raise gross proceeds of $500 million.

The offering was underwritten by a syndicate led by RBC Capital Markets. The Preferred Shares Series AZ will commence trading on the Toronto Stock Exchange today under the ticker symbol RY.PR.Z.

The Preferred Shares Series AZ were issued under a prospectus supplement dated January 23, 2014 to the bank's short form base shelf prospectus dated December 20, 2013.

The Preferred Shares Series AZ have not been and will not be registered in the United States under the United States Securities Act of 1933, as amended (the "Securities Act"), or the securities laws of any state of the United States and may not be offered, sold or delivered, directly or indirectly in the United States or to, or for the account or benefit of, a "U.S. person" (as defined in Regulation S under the Securities Act) absent registration or an applicable exemption from such registration requirements. This press release does not constitute an offer to sell or a solicitation to buy securities in the United States and any public offering of the securities in the United States must be made by means of a prospectus.

SOURCE RBC

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