Royal Bank of Canada to redeem NVCC subordinated debentures

TORONTO, June 10, 2024 /CNW/ - Royal Bank of Canada (TSX: RY) (NYSE: RY) today announced its intention to redeem all outstanding Non-Viability Contingent Capital (NVCC) 2.74 per cent subordinated debentures due July 25, 2029 for 100 per cent of their principal amount plus accrued interest to, but excluding, the redemption date. The redemption will occur on July 25, 2024. The current principal amount of 2.74 per cent NVCC subordinated debentures outstanding is $1,500,000,000.

The redemption of the debentures will be financed out of the general corporate funds of Royal Bank of Canada.

SOURCE Royal Bank of Canada