Free Writing Prospectus - Filing Under Securities Act Rules 163/433 (fwp)
October 21 2019 - 5:03PM
Edgar (US Regulatory)
Filed pursuant to Rule 433
Registration No. 333-227001
ROYAL
BANK OF CANADA
MEDIUM-TERM
NOTES, SERIES H
$1,500,000,000
2.250% SENIOR NOTES, DUE
NOVEMBER 1, 2024
FINAL
TERM SHEET
DATED
OCTOBER 21, 2019
Terms and Conditions
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Issuer:
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Royal Bank of Canada
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Title of the Series:
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2.250% Senior Notes, due November 1, 2024 (the “Notes”)
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Expected Ratings1:
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A2 / A / AA (Moody’s, Stable / S&P, Stable / Fitch, Stable)
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Principal Amount:
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$1,500,000,000
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Issue Price:
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99.778%
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Trade Date:
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October 21, 2019
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Settlement Date (T+3) 2:
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October 24, 2019
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Maturity Date:
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November 1, 2024
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Minimum Denomination:
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$2,000 and multiples of $1,000
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Interest Rate:
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2.250%
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Treasury Benchmark:
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1.500% UST due September 30, 2024
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Treasury Benchmark Price:
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99-17 ¼
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Treasury Yield:
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1.597%
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Re-offer Spread to Treasury Benchmark:
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T + 70bps
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Re-Offer Yield:
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2.297%
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Fees:
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0.250%
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Interest Payment Dates:
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Semi-annually on each May 1 and November 1, beginning May 1, 2020
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1
A credit rating is not a recommendation to buy, sell or hold securities, and it may be subject to
revision or withdrawal at any time by the assigning rating organization.
2
Under Rule 15c6-1 of the Securities Exchange Act of 1934, trades in the secondary market generally
are required to settle no later than two business days after the trade date, unless the parties to such trade expressly agree otherwise
at the time of the trade. Accordingly, purchasers who wish to trade on any date more than two business days prior to delivery of
the Notes will be required, by virtue of the fact that the Notes initially will settle in three business days (T+3), to specify
alternative settlement arrangements to prevent a failed settlement.
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Payment Convention:
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Following business day convention, unadjusted
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Business Days:
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New York, Toronto
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Day Count Fraction:
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30/360
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Listing:
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None
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Optional Redemption:
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None
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Canadian Bail-in Powers
Acknowledgment:
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The Notes are subject to bail-in conversion under the Canadian bail-in regime.
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CUSIP / ISIN:
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78015K7C2 / US78015K7C20
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Lead Managers and Joint Book
Runners:
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RBC Capital Markets, LLC
Citigroup Global Markets Inc.
Goldman Sachs & Co. LLC
Wells Fargo Securities, LLC
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Co-Managers:
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ANZ Securities, Inc.
BB&T Capital Markets, a division of BB&T Securities,
LLC
BNY Mellon Capital Markets, LLC
Capital One Securities, Inc.
Comerica Securities, Inc.
Commonwealth Bank of Australia
DBS Bank Ltd.
Desjardins Securities Inc.
Keybanc Capital Markets Inc.
National Bank of Canada Financial Inc.
Regions Securities LLC
Standard Chartered Bank
The Huntington Investment Company
U.S. Bancorp Investments, Inc.
Westpac Capital Markets, LLC
Academy Securities, Inc.
Great Pacific Securities
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Royal Bank of Canada (the “Issuer”) has filed
a registration statement (including a prospectus supplement and a prospectus) with the SEC for the offering to which this communication
relates. Before you invest, you should read those documents and the other documents that the Issuer has filed with the SEC for
more complete information about the Issuer and this offering. You may obtain these documents for free by visiting EDGAR on the
SEC website at www.sec.gov. Alternatively, the lead managers will arrange to send you the pricing supplement, the prospectus supplement,
and the prospectus if you request them by contacting RBC Capital Markets, LLC toll free at 1-866-375-6829, Citigroup Global Markets
Inc. toll free at 1-800-831-9146, Goldman Sachs & Co. LLC toll-free at 1-866-471-2526, or Wells Fargo Securities, LLC toll-free
at 1-800-645-3751.