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Royal Bank of Canada to redeem subordinated debentures

TORONTO, May 2, 2014 -  Royal Bank of Canada (RY on TSX and NYSE) today announced its intention to redeem all outstanding 5.95 per cent subordinated debentures due June 18, 2103 (the “5.95 per cent debentures”) for 100 per cent of their principal amount plus accrued interest to the redemption date. The redemption will occur on June 18, 2014. The current principal amount of 5.95 per cent debentures outstanding is $600,000,000.

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

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For further information, please contact:
Investor contact:
Lynda Gauthier, Investor Relations, 416-955-7808

Media contact:
Seema Sharma, Corporate Communications416 974-5606