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About RBC > Media Newsroom > News Releases > Royal Bank of Canada announces increase to preferred share issue

Royal Bank of Canada announces increase to preferred share issue

TORONTO, January 21, 2014 - Royal Bank of Canada (RY on TSX and NYSE) today announced that as a result of strong investor demand for its previously announced domestic public offering of Non-Cumulative, 5-Year Rate Reset Preferred Shares Series AZ, the size of the offering has been increased to 20 million shares. The gross proceeds of the offering will now be $500 million. The offering will be underwritten by a syndicate led by RBC Capital Markets. The expected closing date is January 30, 2014.

We routinely undertake funding transactions to maintain strong capital ratios and a cost effective capital structure. Net proceeds from this transaction will be used for general business purposes.

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For further information, please contact:

Investor Contact:
Shirley Boudreau, Shareholder Relations, 416- 955-7806
Karen McCarthy, Investor Relations, 416-955-7809

Media contact:
Tanis Feasby, Communications,
Toronto 416-955-5172