By Wendy Van Sickle
Columbus, Ohio, April 12 – Royal Bank of Canada priced $25 million of floating-rate notes with floor due April 4, 2026, according to a 424B2 filing with the Securities and Exchange Commission.
Interest will be equal to the one-year U.S. Dollar SOFR ICE swap rate plus 70 basis points, subject to a floor of 0%. Interest is payable quarterly.
The payout at maturity will be par plus the final coupon.
RBC Capital Markets, LLC is the agent.
Issuer: | Royal Bank of Canada
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Issue: | Floating-rate notes with floor
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Amount: | $25 million
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Maturity: | April 4, 2026
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Coupon: | One-year U.S. Dollar SOFR ICE swap rate plus 70 bps, subject to minimum coupon of 0%; payable quarterly
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Price: | Par
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Payout at maturity: | Par plus final coupon
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Pricing date: | April 4
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Settlement date: | April 8
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Agent: | RBC Capital Markets, LLC
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Fees: | 0.125%
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Cusip: | 78014RXF2
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