Royal Bank of Canada Announces Redemption of Trust Subordinated Notes by RBC Subordinated Notes Trust
TORONTO, March 13, 2012 — Royal Bank of Canada (RY on TSX and NYSE) today announced that RBC Subordinated Notes Trust, a closed-end trust wholly owned by the bank, intends to redeem all outstanding 4.58 per cent Trust Subordinated Notes - Series A due April 30, 2017 (the "RBC TSNs") for 100 per cent of their principal amount plus accrued interest to the redemption date. The redemption will occur on April 30, 2012.
RBC TSNs constitute Tier 2B capital of the bank. There is currently $1,000,000,000 principal amount of RBC TSNs outstanding.
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