The Toronto Stock Exchange reports that Royal Bank of Canada's non-cumulative five-year rate reset first preferred shares, Series AZ (non-viability contingent capital (NVCC)), will be delisted at the close on May 23, 2024. According to the TSX, the bank will redeem the Series AZ shares on May 24, 2024, for $25 per share.

Separately from the redemption price, the final quarterly dividend of 23.125 cents per Series AZ share will be paid in the usual manner on May 24, 2024, to holders of Series AZ shares of record at the close on April 25, 2024.

The TSX notes that the preferred shares are held through the book-entry-only system of CDS and no individual certificates are issued, therefore holders of Series AZ shares need not take any action with respect to the redemption.

For more information, see the bank's news release dated April 16, 2024, and the notice of redemption dated April 16, 2024.