Filed pursuant to Rule 433
Registration No. 333-227001
ROYAL BANK OF CANADA
MEDIUM-TERM NOTES, SERIES H
$650,000,000
SENIOR FLOATING RATE NOTES, DUE JULY 29, 2024
FINAL TERM SHEET
DATED JULY 26, 2021
Terms and Conditions
| Issuer: | Royal Bank of Canada |
| Title of the Series: | Senior Floating Rate Notes, due July 29, 2024 (the “Notes”) |
| Expected Ratings1: | A2 / A / AA- (Moody’s, Stable / S&P, Stable / Fitch, Stable) |
| Principal Amount: | $650,000,000 |
| Issue Price: | 100.000% |
| Trade Date: | July 26, 2021 |
| Settlement Date (T+3) 2: | July 29, 2021 |
| Maturity Date: | July 29, 2024 |
| Minimum Denomination: | $2,000 and multiples of $1,000 |
| Interest Rate: | Base Rate plus 36.0 bps payable and reset quarterly |
| Base Rate: | USD Compounded SOFR Index |
| Fees: | 0.150% |
| Interest Payment Dates: | Quarterly on the 29th of each January, April, July, and October, beginning October 29, 2021 |
| Payment Convention: | Modified following business day convention, adjusted |
| Interest Payment Determination Date: |
The date two U.S. Government Securities Business Days before each Interest Payment Date. |
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.
| Interest Period: | Each quarterly period from, and including, an Interest Payment Date (or, in the case of the first Interest Period, July 29, 2021) to, but excluding, the next Interest Payment Date (or, in the case of the final Interest Period, the Maturity Date). |
| Observation Period: | In respect of each Interest Period, the period from, and including, the date two U.S. Government Securities Business Days preceding the first date in such Interest Period to, but excluding, the date two U.S. Government Securities Business Days preceding the Interest Payment Date for such Interest Period. |
| Business Days: | Any weekday that is a U.S. Government Securities Business Day and is not a legal holiday in New York or Toronto and is not a date on which banking institutions in those cities are authorized or required by law or regulation to be closed. |
| U.S. Government Securities Business Day: |
Any day except for a Saturday, a Sunday or a day on which the Securities Industry and Financial Markets Association recommends that the fixed income departments of its members be closed for the entire day for purposes of trading in U.S. government securities. |
| Day Count Fraction: | Actual / 360 |
| Listing: | None |
| Optional Redemption: | None |
| Canadian Bail-in Powers Acknowledgment: |
The Notes are subject to bail-in conversion under the Canadian bail-in regime. |
| CUSIP / ISIN: | 78016EZV2 / US78016EZV28 |
| Lead Managers and Joint Book Runners: |
RBC Capital Markets, LLC BofA Securities, Inc. Wells Fargo Securities, LLC ANZ Securities, Inc. |
| Co-Managers: |
Barclays Capital Inc. BNP Paribas Securities Corp. BNY Mellon Capital Markets, LLC Capital One Securities, Inc. Comerica Securities, Inc. Commonwealth Bank of Australia Desjardins Securities Inc. Huntington Securities, Inc. National Bank of Canada Financial Inc. Rabo Securities USA, Inc. Regions Securities LLC Truist Securities, Inc. U.S. Bancorp Investments, Inc. CastleOak Securities, L.P. Drexel Hamilton, LLC Great Pacific Securities Mischler Financial Group, Inc. |
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, BofA Securities, Inc. toll free at 1-800-294-1322, or Wells Fargo Securities, LLC toll free at 1-800-645-3751.