RY.PR.G – Series AG Prospectus – Royal Bank Preferred Shares

The following is a  set of excerpts from the prospectus document for the Series AG 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.G – Series AG Prospectus – Royal Bank Preferred Shares was used for the excerpts and the important information was highlighted for quick access.

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Excerpt: Size and initial yield

April 18, 2007 Royal Bank of Canada $250,000,000 10,000,000 Non-Cumulative First Preferred Shares Series AG Our Non-Cumulative First Preferred Shares Series AG (the “Series AG 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 August 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 August 24, 2007 and will be $0.369863 per share, based on an anticipated issue date of April 26, 2007. Subject to the provisions of the Bank Act (Canada) (the “Bank Act”) and the consent of the Superintendent of Financial Institutions Canada (the “Superintendent”), on and after May 24, 2012, we may redeem the Series AG 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, 2016, a premium, together with declared and unpaid dividends to the date fixed for redemption.
See “Description of the Series AG Preferred Shares”.
The Toronto Stock Exchange (the “TSX”) has conditionally approved the listing of the Series AG Preferred Shares subject to our fulfilling all of the TSX requirements on or before July 13, 2007.
Price: $25.00 per Series AG Preferred Share to yield 4.50%

RY.PR.G – Series AG Prospectus – Royal Bank Preferred Shares Original Document

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