OTTAWA (dpa-AFX) - Royal Bank of Canada (RY, RY.TO) announced plans to redeem all of its issued and outstanding Non-Viability Contingent Capital (NVCC) Non-Cumulative 5-Year Fixed Rate Reset First Preferred Shares, Series BR on January 24, 2026, at a cash redemption price of $1,000 per share, payable on January 26, 2026.
As a result of this redemption, all outstanding NVCC Additional Tier 1 (AT1) 4.00% Limited Recourse Capital Notes, Series 2, due February 24, 2081, will also be automatically redeemed on the same date at 100% of principal plus accrued interest up to, but excluding, the redemption date.
There are currently 1.25 million Series BR Shares outstanding, and the principal amount of Series 2 LRCN outstanding is $1.25 billion. Together, these securities represent $1.25 billion of capital, with the redemptions to be financed from Royal Bank of Canada's general corporate funds.
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