03:24 AM EDT, 10/18/2024 (MT Newswires) -- Royal Bank of Canada ( RY ) said late Thursday it is offering $1 billion worth of limited recourse capital notes.

The non-viability contingent capital Additional Tier 1 notes will bear annual interest of 6.350%, payable quarterly, until 2034 and afterwards reset every five years at a rate of the prevailing five-year U.S. Treasury Rate plus 2.257%.

The notes will mature in 2084. The offering is expected to close on Nov. 1.

Net proceeds will be used for general business purposes, the company said.

Price: 127.00, Change: +0.53, Percent Change: +0.42