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Royal Bank of Canada announces NVCC AT1 Limited Recourse Capital Notes issue
Royal Bank of Canada (TSX: RY) (NYSE: RY) today announced the offering of US$1.0 billion of non-viability contingent capital ("NVCC") Additional Tier 1 (AT1) Limited Recourse Capital Notes, Series 8 (the "LRCNs"). The securities offered are registered with the U.S. Securities and Exchange Commission (the "SEC").
About this update from Royal Bank Of Canada
[{"type":"text","content":"TORONTO, Jan. 27, 2026 /CNW/ - Royal Bank of Canada (TSX: RY) (NYSE: RY) today announced the offering of US$1.0 billion of non-viability contingent capital ("NVCC") Additional Tier 1 (AT1) Limited Recourse Capital Notes, Series 8 (the "LRCNs"). The securities offered are registered with the U.S. Securities and Exchange Commission (the "SEC").","length":374,"tagName":"p"},{"type":"image","alt":"RBC (CNW Group/Royal Bank of Canada)","displaySize":"","headline":null,"caption":"RBC (CNW Group/Royal Bank of Canada)","className":"","disableSlideshowImg":false,"size":{"original":{"width":125,"height":144,"url":"https://media.zenfs.com/en/cnwgroup.com/d7c06aa0bc1d6feda3a691e488c44066"},"resized":{"url":"https://s.yimg.com/ny/api/res/1.2/0JWGYaGKEZyR57YK8qJ5vw--/YXBwaWQ9aGlnaGxhbmRlcjt3PTIxMDtoPTI0MjtjZj13ZWJw/https://media.zenfs.com/en/cnwgroup.com/d7c06aa0bc1d6feda3a691e488c44066","width":125,"height":144}},"href":"https://mma.prnewswire.com/media/2871048/Royal_Bank_of_Canada_Royal_Bank_of_Canada_announces%C2%A0NVCC_AT1_Lim.html","hrefExternal":true,"rel":"nofollow"},{"type":"text","content":"The LRCNs will bear interest at a rate of 6.50 per cent annually, payable quarterly, for the initial period ending May 24, 2033. Thereafter, the interest rate on the LRCNs will reset every five years at a rate equal to the prevailing 5-year U.S. Treasury Rate plus 2.450 per cent. The LRCNs will mature on May 24, 2086. The expected closing date of the offering is January 30, 2026, subject to customary closing conditions.","length":433,"tagName":"p"},{"type":"text","content":"RBC Capital Markets, LLC, Citigroup Global Markets Inc., J.P. Morgan Securities LLC, Morgan Stanley & Co. LLC and UBS Securities LLC are the joint book-running managers for the offering.","length":205,"tagName":"p"},{"type":"text","content":"Concurrently with the issuance of the LRCNs, the bank will issue NVCC Non-Cumulative 5-Year Fixed Rate Reset First Preferred Shares, Series CA ("Preferred Shares Series CA") to be held by Computershare Trust Company of Canada as trustee for Leo LRCN Limited Recourse Trust™ (the "Limited Recourse Trust"). In case of non-payment of interest on or principal of the LRCNs when due, the recourse of each LRCN holder will be limited to that holder's proportionat...