RY.PR.E – Series AE Prospectus – Royal Bank Preferred Shares

The following is a  set of excerpts from the prospectus document for the Series AE 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.E – Series AE 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

January 11, 2007 Royal Bank of Canada $250,000,000 10,000,000 Non-Cumulative First Preferred Shares Series AE Our Non-Cumulative First Preferred Shares Series AE (the “Series AE 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, commencing May 24, 2007, as and when declared by our board of directors, at a quarterly rate of $0.28125 per share.
The initial dividend, if declared, will be payable on May 24, 2007 and will be $0.385274 per share, based on an anticipated issue date of January 19, 2007. 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 February 24, 2012, we may redeem the Series AE 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 February 24, 2016, a premium, together with declared and unpaid dividends to the date fixed for redemption. See “Description of the Series AE Preferred Shares”.
The Toronto Stock Exchange (the “TSX”) has conditionally approved the listing of the Series AE Preferred Shares subject to our fulfilling all of the TSX requirements on or before April 9, 2007.
Price: $25.00 per Series AE Preferred Share to yield 4.50%

RY.PR.E – Series AE Prospectus – Royal Bank Preferred Shares Original Document

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