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Royal Bank of Canada to redeem NVCC subordinated debentures

TORONTO, December 3, 2020 - Royal Bank of Canada (TSX: RY) (NYSE: RY) today announced its intention to redeem all outstanding Non-Viability Contingent Capital (NVCC) 3.31 per cent subordinated debentures due January 20, 2026 for 100 per cent of their principal amount plus accrued interest to, but excluding, the redemption date. The redemption will occur on January 20, 2021. The current principal amount of 3.31 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.

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For further information, please contact:

Investor contact:
Shirley Boudreau, Shareholder Relations, 416-955-7806
Asim Imran, Investor Relations, 416-955-7804

Media contact:
Jillian Vernic, Corporate Communications, 647-802-9035