RBC expects to provide notice of redemption via The Depository Trust Company on January 13, 2017. The Redemption Price to be paid to holders of the ETNs will be their call settlement value on January 27, 2017, the last Valuation Date in the Call Measurement Period, as those terms are defined in Amendment No. 4 dated January 8, 2016 to the Pricing Supplement dated July 24, 2014 to the Prospectus Supplement and Prospectus, each dated January 8, 2016. The Redemption Price will be paid to the holders on the Redemption Date, which is expected to be the third trading day after the last Valuation Date in the Call Measurement Period. The last trading day for the ETNs on the NYSE is expected to be January 20, 2017. Daily creations of the ETNs will be suspended immediately. Daily repurchases at the option of holders will be accepted in the normal manner up to and including January 19, 2017.
Beginning on the Redemption Date, the ETNs will no longer be considered outstanding.
Royal Bank of Canada is Canada's largest bank, and one of the largest banks in the world, based on market capitalization. We are one of North America's leading diversified financial services companies, and provide personal and commercial banking, wealth management, insurance, investor services and capital markets products and services on a global basis. We have over 80,000 full- and part-time employees who serve more than 16 million personal, business, public sector and institutional clients through offices in Canada, the U.S. and 36 other countries. For more information, please visit http://www.rbc.com/.
SOURCE Royal Bank of Canada