Filed Pursuant to Rule 424(b)(2)
Registration Statement No. 333-259205
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Pricing Supplement
Dated June 28, 2022
To the Product Prospectus Supplement FIN-1 Dated September 14, 2021, and the Prospectus and Prospectus Supplement, each dated September 14, 2021
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$1,500,000
Redeemable Fixed Rate Notes,
Due July 30, 2023 Royal Bank of Canada |
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Redeemable Fixed Rate Notes
Royal Bank of Canada
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Issuer:
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Royal Bank of Canada (“Royal Bank”)
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Issue:
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Senior Global Medium-Term Notes, Series I
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Underwriter:
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RBC Capital Markets, LLC
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Currency:
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U.S. Dollars
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Minimum
Investment:
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$1,000 and minimum denominations of $1,000 in excess of $1,000
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Pricing Date:
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June 28, 2022
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Issue Date:
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June 30, 2022
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Maturity Date:
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July 30, 2023
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Type of Note:
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Fixed Rate Note
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Interest Rate:
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3.48% per annum
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Interest Payment
Dates:
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Quarterly, on March 30, June 30, September 30, and December 30, each year, commencing on September 30, 2022, and ending on the maturity date. If an Interest Payment Date
is not a New York business day, interest will be paid on the next New York business day, without adjustment for period end dates and no interest will be paid in respect of the delay.
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Redemption:
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Redeemable at our option. If we redeem the Notes, we will pay you the principal amount, together with the applicable interest payment.
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Call Dates:
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The Notes are callable, in whole, but not in part, beginning on December 30, 2022, and on each Interest Payment Date thereafter upon 10 business days’ prior written
notice.
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Survivor’s Option:
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Not Applicable.
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U.S. Tax
Treatment:
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Please see the discussion (including the opinion of our special U.S. tax counsel, Ashurst LLP) in the product prospectus supplement FIN-1 dated September 14, 2021 under
“Supplemental Discussion of U.S. Federal Income Tax Consequences” and specifically the discussion under “Supplemental Discussion of U.S. Federal Income Tax Consequences—Supplemental U.S. Tax Considerations—Where the term of your notes
will exceed one year—Fixed Rate Notes, Floating Rate Notes, Inverse Floating Rate Notes, Step Up Notes, Leveraged Notes, Range Accrual Notes, Dual Range Accrual Notes and Non-Inversion Range Accrual Notes,” and “Supplemental Discussion
of U.S. Federal Income Tax Consequences—Supplemental U.S. Tax Considerations—Where the term of your notes will exceed one year—Sale, Redemption or Maturity of Notes that Are Not Treated as Contingent Payment Debt Instruments,” which
applies to your Notes.
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Calculation Agent:
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RBC Capital Markets, LLC
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Listing:
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The Notes will not be listed on any securities exchange.
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Redeemable Fixed Rate Notes
Royal Bank of Canada
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Clearance and
Settlement:
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DTC global (including through its indirect participants Euroclear and Clearstream, Luxembourg as described under “Ownership and Book-Entry Issuance” in the prospectus dated September 14,
2021).
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Terms
Incorporated in the
Master Note:
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All of the terms appearing above the item captioned “Listing” on pages P-2 and P-3 of this pricing supplement, and the applicable terms appearing under the caption “General Terms of the
Notes” in the product prospectus supplement FIN-1 dated September 14, 2021, as modified by this pricing supplement.
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Redeemable Fixed Rate Notes
Royal Bank of Canada
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Redeemable Fixed Rate Notes
Royal Bank of Canada
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Redeemable Fixed Rate Notes
Royal Bank of Canada
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P-6
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RBC Capital Markets, LLC
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