RBC offers to buy back auction rate securities from its U.S. retail brokerage clients
On October 8, 2008, Royal Bank of Canada (RY on TSX and NYSE) announced that, as part of a settlement with the United States Securities and Exchange Commission, New York Attorney General's office, and the North American Securities Administrators Association, effective December 15, 2008, and for the period up to June 30, 2009, RBC will offer to purchase at par nonperforming auction rate securities purchased from RBC, into an account held at the firm, prior to February 11, 2008.
Eligible investors include:
- All individual investors;
- Charities with accounts of US$25 million or less;
- Small institutions and businesses with accounts of US$10 million or less.
Please review the Auction Rate Securities Purchase Offer Document for complete information. If you believe you are eligible for the offer, please contact your Financial Consultant or Branch Director. Former clients may contact their previous Financial Consultant or Branch Director, or call the RBC Auction Rate Securities Client Service Center.
For additional information, please refer to the following links.
RBC Auction Rate Securities Client Service Center: 1-866-876-5469
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