Royal Bank of Canada Issues 6.500% Limited Recourse Capital Notes and Non-Cumulative Preferred Shares

Royal Bank of Canada (RY) has issued 6.500% Limited Recourse Capital Notes, Series 8, due May 24, 2086, and Non-Cumulative 5-Year Fixed Rate Reset First Preferred Shares, Series CA. These notes and preferred shares are classified as Non-Viability Contingent Capital (NVCC), indicating they are designed to absorb losses if the bank's viability is threatened, which is a regulatory requirement for Canadian banks.