Series: | AL | Alternate symbology: | RY-L.CA, RY-PL.CA, RYprL.CA | Redeemable?: | Yes | Call Date: | 2/24/2014 (Now Trading Post Call Date) | Perpetual?: | Yes | Cumulative?: | No | Conversion Ratio: | Holders of the Series AL Preferred Shares will have the option to convert such shares into Non-Cumulative Floating Rate First Preferred Shares, Series AM (the “Series AM Preferred Shares”), subject to certain conditions, on February 24, 2014 and on February 24 every fifth year thereafter. Series AM Preferred Shares will be entitled to floating rate non-cumulative preferential cash dividends, payable quarterly on the 24th day of February, May, August and November in each year (the initial quarterly dividend period and each subsequent quarterly dividend period is referred to as a “Quarterly Floating Rate Period”), as and when declared by our board of directors, in an amount per share determined by multiplying the applicable Floating Quarterly Dividend Rate (as defined herein) by $25.00. The Floating Quarterly Dividend Rate will be equal to the sum of the T-Bill Rate (as defined herein) plus 2.67% (calculated on the basis of the actual number of days in the applicable Quarterly Floating Rate Period divided by 365) determined on the Floating Rate Calculation Date (as defined herein). | Shares Offered: | 8000000 | Overallotment: | 4000000 | Liquidation Preference: | $25 | Original Coupon: | 5.6% for the initial fixed rate period, then for each five-year period after the Initial Fixed Rate Period, the Series AL 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, in an amount per share per annum determined by multiplying the Annual Fixed Dividend Rate applicable to such Subsequent Fixed Rate Period by 5.00. We will determine the Annual Fixed Dividend Rate for each ensuing Subsequent Fixed Rate Period on the Fixed Rate Calculation Date, which rate will be equal to the sum of the Government of Canada Yield on the Fixed Rate Calculation Date plus 2.67%. | Pay Period: | Quarterly | Pay Dates: | 24-Feb, 24-May, 24-Aug, 24-Nov | CDx3 Compliance Rating: |
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