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