RY.PR.A – Series AA Prospectus – Royal Bank Preferred Shares

The following is a  set of excerpts from the prospectus document for the Series AA preferreds. The excerpts, highlight the most relevant information, an investor should know when analyzing this preferred.  A link to the prospectus is provided lower in this page.  The original document for RY.PR.A – Series AA Prospectus – Royal Bank Preferred Shares was used for the excerpts and the important information was highlighted for quick access.

Follow this link for additional information on Royal Bank and a comparison of all Royal Bank preferred shares available in the Canadian Market today.

Excerpt: Size and initial yield

March 27, 2006 Royal Bank of Canada $300,000,000 12,000,000 Non-Cumulative First Preferred Shares Series AA Our Non-Cumulative First Preferred Shares Series AA (the “Series AA Preferred Shares”) will be entitled to fixed non-cumulative preferential cash dividends, payable quarterly on the 24th day of February, May, August and November in each year, as and when declared by our board of directors, at a quarterly rate of $0.278125 per share.
The initial dividend, if declared, will be payable on May 24, 2006 and will be $0.152397 per share, based on an anticipated issue date of April 4, 2006. Subject to the provisions of the Bank Act (Canada) (the “Bank Act”) and the consent of the Superintendent of Financial Institutions (the “Superintendent”), on and after May 24, 2011, we may redeem the Series AA Preferred Shares in whole or in part by the payment in cash of a sum equal to $25.00 per share plus, if redeemed before May 24, 2015, a premium, together with declared and unpaid dividends to the date fixed for redemption.
See “Description of the Series AA Preferred Shares”. The Toronto Stock Exchange (the “TSX”) has conditionally approved the listing of the Series AA Preferred Shares subject to us fulfilling all of the requirements of the TSX on or before June 21, 2006.
Price: $25.00 per Series AA Preferred Share to yield 4.45%

RY.PR.A – Series AA Prospectus – Royal Bank Preferred Shares Original Document

I have presented the most important information regarding the Series AA preferreds. If you need to go through the original and complete document for RY.PR.A – Series AA Prospectus – Royal Bank Preferred Shares is available here.