RBC to sell redeemable range accrual notes due 2024 linked to Libor

By Susanna Moon

Chicago, Dec. 4 - Royal Bank of Canada plans to price redeemable range accrual notes due Dec. 16, 2024 linked to Libor, according a 424B2 filing with the Securities and Exchange Commission.

The interest rate will be 6% per year, payable quarterly, times the proportion of days on which Libor is 7% or less.

The payout at maturity will be par.

The notes will be callable on any interest payment date beginning March 16.

RBC Capital Markets Corp. is the underwriter.

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