TORONTO, Nov. 12, 2020 /CNW/ - Royal Bank of Canada (TSX: RY) (NYSE: RY) today announced
that during the conversion notice period, which ran from
October 26, 2020 to November 9, 2020, 52,464 Non-Viability Contingent
Capital (NVCC) Non-Cumulative 5-Year Rate Reset First
Preferred Shares, Series BF (the "Series BF shares") were tendered
for conversion, on a one-for-one basis, into NVCC Non-Cumulative
Floating Rate First Preferred Shares, Series BG (the "Series BG
shares"). As per the conditions set out in the prospectus
supplement dated March 9, 2015, since
less than 1,000,000 Series BG shares would be outstanding after
November 24, 2020, holders of Series
BF shares will not be entitled to convert their shares into Series
BG shares. As a result, Series BG shares will not be issued at this
time and holders of Series BF shares will retain their shares.
On November 24, 2020, Royal Bank
of Canada will have 12,000,000
Series BF shares issued and outstanding. The Series BF shares are
currently listed on the Toronto Stock Exchange under the symbol
RY.PR.M.
SOURCE Royal Bank of Canada