This Day On The Street
Continue to site
ADVERTISEMENT
This account is pending registration confirmation. Please click on the link within the confirmation email previously sent you to complete registration.
Need a new registration confirmation email? Click here

Royal Bank Of Canada Announces Results Of Conversion Privileges Of Non-Cumulative 5-Year Rate Reset First Preferred Shares Series AJ & AL

TORONTO, Feb. 14, 2014 /CNW/ - Royal Bank of Canada (RY on TSX and NYSE) today announced that 2,421,185 of its 16,000,000 Non-Cumulative 5-Year Rate Reset First Preferred Shares Series AJ (the "Series AJ shares") will be converted on February 24, 2014, on a one-for-one basis, into Non-Cumulative Floating Rate First Preferred Shares Series AK (the "Series AK shares") of Royal Bank of Canada.

Furthermore, during the conversion notice period which ran from January 24, 2014 to February 10, 2014, only 530,659 Non-Cumulative 5-Year Rate Reset First Preferred Shares, Series AL (the "Series AL shares") were tendered for conversion into Non-Cumulative Floating Rate First Preferred Shares, Series AM (the "Series AM shares"). As per the conditions set out in the prospectus supplement dated October 27, 2008, since less than 1,000,000 Series AM shares would be outstanding after February 24, 2014, holders of Series AL shares who tendered their shares for conversion will not be entitled to convert their shares into Series AM shares. As a result, Series AM shares will not be issued at this time.

On February 24, 2014, Royal Bank of Canada will have 13,578,815 Series AJ, 2,421,185 Series AK and 12,000,000 Series AL shares issued and outstanding. The Series AJ and Series AL shares are currently listed on the Toronto Stock Exchange under the symbols RY.PR.I and RY.PR.L respectively. Series AK shares will be listed on the Toronto Stock Exchange under the symbol RY.PR.K.

SOURCE RBC
Copyright 2011 PR Newswire. All rights reserved. This material may not be published, broadcast, rewritten or redistributed.

Check Out Our Best Services for Investors

Action Alerts PLUS

Portfolio Manager Jim Cramer and Director of Research Jack Mohr reveal their investment tactics while giving advanced notice before every trade.

Product Features:
  • $2.5+ million portfolio
  • Large-cap and dividend focus
  • Intraday trade alerts from Cramer
Quant Ratings

Access the tool that DOMINATES the Russell 2000 and the S&P 500.

Product Features:
  • Buy, hold, or sell recommendations for over 4,300 stocks
  • Unlimited research reports on your favorite stocks
  • A custom stock screener
Stocks Under $10

David Peltier uncovers low dollar stocks with serious upside potential that are flying under Wall Street's radar.

Product Features:
  • Model portfolio
  • Stocks trading below $10
  • Intraday trade alerts
14-Days Free
Only $9.95
14-Days Free
Dividend Stock Advisor

David Peltier identifies the best of breed dividend stocks that will pay a reliable AND significant income stream.

Product Features:
  • Diversified model portfolio of dividend stocks
  • Updates with exact steps to take - BUY, HOLD, SELL
Trifecta Stocks

Every recommendation goes through 3 layers of intense scrutiny—quantitative, fundamental and technical analysis—to maximize profit potential and minimize risk.

Product Features:
  • Model Portfolio
  • Intra Day Trade alerts
  • Access to Quant Ratings
Options Profits

Our options trading pros provide over 100 monthly option trading ideas and strategies to help you become a well-seasoned trader.

Product Features:
  • Actionable options commentary and news
  • Real-time trading community
SYM TRADE IT LAST %CHG

Markets

Chart of I:DJI
DOW 17,550.69 -47.51 -0.27%
S&P 500 2,093.32 -4.72 -0.22%
NASDAQ 5,105.5460 -9.8360 -0.19%

Free Reports

Top Rated Stocks Top Rated Funds Top Rated ETFs