International team advises RBC on update of notes base prospectus

February 8, 2017

Client: Royal Bank of Canada

Our London, Toronto and Montréal offices have advised Royal Bank of Canada on the update of the notes base prospectus pursuant to the bank’s US$40 billion programme for the issuance of securities. 

The notes base prospectus was approved by the UK Listing Authority. The update included the addition of an option of non-viability contingent capital subordinated notes, which are convertible into common shares upon the occurrence of a non-viability trigger event.

Notes to be issued under the notes base prospectus may be listed on the London Stock Exchange’s Regulated Market Exchange and the NASDAQ OMX Stock Exchange. The co-arrangers were RBC Europe Limited and Morgan Stanley & Co. International plc and the dealer group for the programme consisted of RBC Europe Limited, Barclays Bank PLC, Citigroup Global Markets Limited, Credit Suisse Securities (Europe) Limited, Deutsche Bank AG, HSBC Bank plc, J.P. Morgan Securities plc, Merrill Lynch International, Morgan Stanley & Co. International plc and UBS Limited.

The team was led by Peter Noble, assisted by Harry Smith and Angela Savin (London - tax) and Alison Hutchings (London) and Heidi Reinhart (Toronto – securities), Adrienne Oliver and Michael Wong (Toronto - tax), and Christine Dube and Peter Riddell (Montréal – securities).