RY.PR.P – Series BJ Prospectus – Royal Bank Preferred Shares

The following is a  set of excerpts from the prospectus document for the Series BJ 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.P – Series BJ 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

September 28, 2015 Royal Bank of Canada $150,000,000 6,000,000 Non-Cumulative First Preferred Shares, Series BJ (Non-Viability Contingent Capital (NVCC)) Our Non-Cumulative First Preferred Shares, Series BJ (Non-Viability Contingent Capital (NVCC)) (the “Series BJ 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 on February 24, 2016, as and when declared by our board of directors, at a rate of 5.25% or $1.3125 per share per annum.
The initial dividend, if declared, will be payable on February 24, 2016 and will be $0.52140 per share, based on an anticipated issue date of October 2, 2015.
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 February 24, 2021, we may redeem the Series BJ Preferred Shares in whole or in part by the payment of $25.00 in cash per share plus, if redeemed before February 24, 2025, a premium, together with declared and unpaid dividends to the date fixed for redemption.
See “Description of the Series BJ Preferred Shares”. Price: $25.00 per Series BJ Preferred Share to yield 5.25%

RY.PR.P – Series BJ Prospectus – Royal Bank Preferred Shares Original Document

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