TORONTO, May 18, 2010 Royal Bank of Canada (RY: TSX, NYSE) today announced that RBC Capital Trust, a closed-end unit trust established by Royal Bank of Canada, will redeem all of its issued and outstanding Trust Capital Securities - Series 2010 (RBC TruCS - Series 2010) for cash at a redemption price of $1,000 per unit on June 30, 2010.
Separately from the redemption price, the final semi-annual distribution of $36.44 per unit for the RBC TruCS - Series 2010 is to be paid in the usual manner on June 30, 2010.
RBC TruCS - Series 2010 constitute Innovative Tier 1 capital of the bank. There is $650,000,000 principal amount of RBC TruCS - Series 2010 outstanding.
The redemption of the RBC TruCS - Series 2010 units will be financed out of the general funds of RBC Capital Trust.
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For further information, please contact:
Robert Poole, Investor Relations (416) 955-7805
Gillian McArdle, Media Relations, (416) 974-5506