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Royal Bank of Canada to redeem NVCC Non-Cumulative 5-Year Fixed Rate Reset First Preferred Shares, Series BR and NVCC AT1 Limited Recourse Capital Notes, Series 2

By The Northwire Desk — AI Analysis Dec 04, 2025 · 18:11 RY · 224.06 ROYAL BANK OF CANADA
RY · Price

Executive Summary

  • RBC announced it will redeem all outstanding NVCC Non‑Cumulative 5‑Year Fixed Rate Reset First Preferred Shares, Series BR, on January 24 2026 at $1,000 per share.
  • The redemption triggers automatic redemption of the associated NVCC AT1 Limited Recourse Capital Notes, Series 2 (due Feb 24 2081), for 100 % of principal plus accrued interest.
  • Total capital being redeemed equals approximately $1.25 billion, financed from RBC’s general corporate funds.

Key Details

  • Redemption price for each Series BR share: $1,000.00 (cash).
  • Payment date to shareholders: January 26 2026.
  • Number of Series BR shares outstanding: 1,250,000.
  • Principal amount of Series 2 AT1 notes outstanding: $1.25 billion.
  • Redemption of Series 2 LRCN will occur on the same date (Jan 24 2026) at 100 % of principal plus accrued interest up to, but not including, the redemption date.
  • Both redemptions are funded from RBC’s general corporate funds; no external financing required.

Notable Quotes

(No executive quotes were provided in the release.)

Read the original news release →

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