By Wendy Van Sickle
Columbus, Ohio, April 18 – Royal Bank of Canada priced $21.85 million of floating-rate notes due April 14, 2025 linked to the two-year U.S. dollar SOFR ICE swap rate, according to a 424B2 filing with the Securities and Exchange Commission.
The interest rate is the reference rate plus 45 basis points, with a floor of 0%. Interest is payable quarterly.
The payout at maturity will be par.
RBC Capital Markets, LLC is the agent.
Issuer: | Royal Bank of Canada
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Issue: | Floating-rate notes
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Underlying rate: | Two-year U.S. dollar SOFR ICE swap rate
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Amount: | $21.85 million
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Maturity: | April 14, 2025
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Coupon: | SOFR ICE swap rate plus 45 bps, floor of 0%; payable quarterly
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Price: | Variable
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Payout at maturity: | Par
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Pricing date: | April 12
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Settlement date: | April 14
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Agent: | RBC Capital Markets, LLC
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Cusip: | 78014REE6
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