RBC Global Asset Management Inc. announces exchange ratios for RBC ETF mergers

Fecha : 05/04/2019 @ 23:21
Fuente : PR Newswire (Canada)
Emisora : Royal Bank of Canada (RY)
Cotización : 106.95  0.32 (0.30%) @ 15:30
Royal Bank of Canada Cotización de acciones Gráfica

RBC Global Asset Management Inc. announces exchange ratios for RBC ETF mergers

Royal Bank of Canada (TSX:RY)
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TORONTO, April 5, 2019 /CNW/ - RBC Global Asset Management Inc. today announced the exchange ratios for five RBC ETFs that will be merged with certain corresponding iShares ETFs.

As announced on March 22, 2019, unitholders approved a proposal to merge certain RBC ETFs (as set forth in the table below) with a corresponding iShares ETF effective on or about April 8, 2019. The RBC International Equity Index ETF will merge with the corresponding iShares ETF on or about April 9, 2019. The mergers have also received regulatory approval. Each of the merging RBC ETFs will be wound up following the mergers.

The exchange ratio determines the number of units of the continuing iShares ETFs existing unitholders will receive for each unit they hold of the applicable merging RBC ETF. The exchange ratio was calculated based on the relative net asset value of both the merging RBC ETFs and continuing iShares ETFs as of market close today, April 5, 2019.

 Merging RBC ETF

Continuing iShares ETF

Exchange Ratio

RBC Canadian Short Term Bond Index ETF (RCSB)

iShares Core Canadian Short Term Bond Index ETF (XSB)

0.728271

RBC Canadian Bond Index ETF (RCUB)

iShares Core Canadian Universe Bond Index ETF (XBB)

0.653893

RBC Canadian Equity Index ETF (RCAN)

iShares Core S&P/TSX Capped Composite Index ETF (XIC)

0.832915

RBC U.S. Equity Index ETF (RUSA)

iShares Core S&P 500 Index ETF (XUS)

0.526564

RBC International Equity Index ETF (RINT)

iShares Core MSCI EAFE IMI Index ETF (XEF)

0.696232

 

Unitholders of the merging RBC ETFs are not required to take any action in order to become unitholders of the continuing iShares ETFs.

In addition, units of the merging RBC ETFs (except for the RBC International Equity Index ETF) have been delisted from the NEO Exchange as of market close today, April 5, 2019. The RBC International Equity Index ETF is expected to be delisted from the NEO Exchange as of market close on April 8, 2019.

Details of the previously announced mergers are outlined in the management information circular dated February 15, 2019 which is available at www.sedar.com.

For further information regarding RBC ETFs, please visit https://www.rbcishares.com.

Commissions, management fees and expenses all may be associated with investments in exchange-traded funds (ETFs). Please read the applicable prospectus or ETF Facts document before investing. ETFs are not guaranteed, their values change frequently and past performance may not be repeated. ETF units are bought and sold at market price on a stock exchange and brokerage commissions will reduce returns. RBC ETFs do not seek to return any predetermined amount at maturity. Index returns do not represent RBC ETF returns. RBC ETFs are managed by RBC GAM Inc., a member of the RBC GAM group of companies and an indirect wholly-owned subsidiary of Royal Bank of Canada.

About RBC Global Asset Management
RBC Global Asset Management (RBC GAM) is the asset management division of Royal Bank of Canada (RBC) and includes institutional money managers BlueBay Asset Management and Phillips, Hager & North Investment Management. RBC GAM is a provider of global investment management services and solutions to institutional, high-net-worth and individual investors through separate accounts, pooled funds, mutual funds, hedge funds, exchange-traded funds and specialty investment strategies. The RBC GAM group of companies manage approximately $430 billion in assets and have approximately 1,400 employees located across Canada, the United States, Europe and Asia.

About BlackRock
BlackRock Canada is a wholly-owned subsidiary of BlackRock, Inc., BlackRock, Inc. helps investors build better financial futures. As a fiduciary to its clients, BlackRock, Inc. provides the investment and technology solutions investors need when planning for their most important goals. As of December 31, 2018, the firm managed approximately US$5.98 trillion in assets on behalf of investors worldwide. BlackRock, Inc., together with its worldwide affiliates, is the world's largest ETF provider by assets under management as of September 30, 2018 (source: BlackRock, Inc.). For additional information on BlackRock, Inc., please visit www.blackrock.com

About iShares
iShares unlocks opportunity across markets to meet the evolving needs of investors. With more than twenty years of experience, a global line-up of 800+ exchange traded funds (ETFs) and US$1.8 trillion in assets under management as of December 31, 2018. iShares continues to drive progress for the financial industry. iShares funds are powered by the expert portfolio and risk management of BlackRock, Inc., trusted to manage more money than any other investment firm.

iSHARES is a registered trademark of BlackRock Inc., or its subsidiaries in the United States and elsewhere. Used under licence.

SOURCE RBC Global Asset Management

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