Royal Bank of Canada announces results of NVCC Non-Cumulative 5-Year Rate Reset First Preferred Shares Series BO conversion privileges
TORONTO, Feb. 14, 2024 /CNW/ - Royal Bank of Canada (TSX: RY) (NYSE: RY) today announced that during the conversion notice period, which ran from January 25, 2024 to February 9, 2024, 198,043 Non-Viability Contingent Capital (NVCC) Non-Cumulative 5-Year Rate Reset First Preferred Shares, Series BO (the "Series BO shares") were tendered for conversion, on a one-for-one basis, into NVCC Non-Cumulative Floating Rate First Preferred Shares, Series BP (the "Series BP shares"). As per the conditions set out in the prospectus supplement dated October 29, 2018, since less than 1,000,000 Series BP shares would be outstanding after February 24, 2024, holders of Series BO shares will not be entitled to convert their shares into Series BP shares. As a result, Series BP shares will not be issued at this time and holders of Series BO shares will retain their shares.
On February 24, 2024, Royal Bank of Canada will have 14,000,000 Series BO shares issued and outstanding. The Series BO shares are currently listed on the Toronto Stock Exchange under the symbol RY.PR.S.
SOURCE RBC Royal Bank
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