# EDGAR Filing Document

**Accession Number:** 0001000275
**File Stem:** 0001214659-23-000421
**Filing Date:** 2023-1
**Character Count:** 6158
**Document Hash:** 6b8406fdc20755bcc2e6d928ea1e5ca7
**Contains OCR:** False
**Source Format:** 

## Filing Content

## Filing Summary
**0001214659-23-000421.hdr.sgml**: 20230110

**ACCESSION NUMBER**: 0001214659-23-000421

**CONFORMED SUBMISSION TYPE**: FWP

**PUBLIC DOCUMENT COUNT**: 2

**FILED AS OF DATE**: 20230110

**DATE AS OF CHANGE**: 20230109

**SUBJECT COMPANY**: 

**COMPANY DATA:**
- **COMPANY CONFORMED NAME:** ROYAL BANK OF CANADA
- **CENTRAL INDEX KEY:** 0001000275
- **STANDARD INDUSTRIAL CLASSIFICATION:** COMMERCIAL BANKS, NEC [6029]
- **IRS NUMBER:** 135357855
- **STATE OF INCORPORATION:** A6
- **FISCAL YEAR END:** 1031

**FILING VALUES:**
- **FORM TYPE:** FWP
- **SEC ACT:** 1934 Act
- **SEC FILE NUMBER:** 333-259205
- **FILM NUMBER:** 23519291

**BUSINESS ADDRESS:**
- **STREET 1:** ROYAL BANK PLAZA
- **STREET 2:** 200 BAY STREET
- **CITY:** TORONTO
- **STATE:** A6
- **ZIP:** M5J2J5
- **BUSINESS PHONE:** 212-437-9267

**MAIL ADDRESS:**
- **STREET 1:** ROYAL BANK PLAZA
- **STREET 2:** 200 BAY STREET
- **CITY:** TORONTO
- **STATE:** A6
- **ZIP:** M5J2J5

**FORMER COMPANY:**
- **FORMER CONFORMED NAME:** ROYAL BANK OF CANADA \
- **DATE OF NAME CHANGE:** 19950908
**FILED BY**: 

**COMPANY DATA:**
- **COMPANY CONFORMED NAME:** ROYAL BANK OF CANADA
- **CENTRAL INDEX KEY:** 0001000275
- **STANDARD INDUSTRIAL CLASSIFICATION:** COMMERCIAL BANKS, NEC [6029]
- **IRS NUMBER:** 135357855
- **STATE OF INCORPORATION:** A6
- **FISCAL YEAR END:** 1031

**FILING VALUES:**
- **FORM TYPE:** FWP

**BUSINESS ADDRESS:**
- **STREET 1:** ROYAL BANK PLAZA
- **STREET 2:** 200 BAY STREET
- **CITY:** TORONTO
- **STATE:** A6
- **ZIP:** M5J2J5
- **BUSINESS PHONE:** 212-437-9267

**MAIL ADDRESS:**
- **STREET 1:** ROYAL BANK PLAZA
- **STREET 2:** 200 BAY STREET
- **CITY:** TORONTO
- **STATE:** A6
- **ZIP:** M5J2J5

**FORMER COMPANY:**
- **FORMER CONFORMED NAME:** ROYAL BANK OF CANADA \
- **DATE OF NAME CHANGE:** 19950908

**Filed pursuant to Rule 433**

**Registration No. 333-259205**<br>

![](rbclogo_ts-sc.jpg)

**ROYAL BANK OF CANADA**

**MEDIUM-TERM NOTES, SERIES I**

**$1,000,000,000**

**4.875% SENIOR NOTES, DUE JANUARY 12, 2026**

**FINAL TERM SHEET**

**DATED JANUARY 9, 2023**

**Terms and Conditions**

---

| | |
|:---|:---|
| **Issuer:** | Royal Bank of Canada |
| **Title of the Series:** | 4.875% Senior Notes, due January 12, 2026 (the "Notes") |
| **Expected Ratings**<sup>1</sup>**:** | A1 / A / AA- (Moody's / S&P / Fitch) |
| **Principal Amount:** | $1000000000 |
| **Issue Price:** | 99.970% |
| **Trade Date:** | January 9, 2023 |
| **Settlement Date (T+3) <sup>2</sup>:** | January 12, 2023 |
| **Maturity Date:** | January 12, 2026 |
| **Minimum Denomination:** | $2,000 and multiples of $1,000 |
| **Interest Rate:** | 4.875% |
| **Treasury Benchmark:** | 4.000% UST due December 15, 2025 |
| **Treasury Benchmark Price:** | 100-05+ |
| **Treasury Yield:** | 3.936% |
| **Re-offer Spread to Treasury**<br> **Benchmark:** | T + 95bps |
| **Re-Offer Yield:** | 4.886% |
| **Fees:** | 0.150% |
| **Interest Payment Dates:** | Semi-annually on each January 12 and July 12, beginning July 12, 2023 |

---

<sup>1</sup> 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.

<sup>2</sup> 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.

---

| | |
|:---|:---|
| **Payment Convention:** | Following business day convention, unadjusted |
| **Business Days:** | New York, Toronto |
| **Day Count Fraction:** | 30/360 |

---

---

| | |
|:---|:---|
| **Listing:** |  |
| **Optional Redemption:** |  |
| **Canadian Bail-in Powers**<br> **Acknowledgment:** | The Notes are subject to bail-in conversion under the Canadian bail-in regime. |
| **CUSIP / ISIN:** | 78016FZT4 / US78016FZT47 |
| **Lead Managers and Joint Book**<br> **Runners:** | RBC Capital Markets, LLC<br> Citigroup Global Markets Inc.<br> J.P. Morgan Securities LLC<br> KeyBanc Capital Markets Inc.<br> Santander Investment Securities Inc.<br> SG Americas Securities, LLC |
| **Co-Managers:** | ANZ Securities, Inc.<br> BNY Mellon Capital Markets, LLC<br> Capital One Securities, Inc.<br> Commonwealth Bank of Australia<br> Desjardins Securities Inc.<br> Fifth Third Securities, Inc.<br> Huntington Securities, Inc.<br> M&T Securities, Inc.<br> MUFG Securities Americas Inc.<br> nabSecurities, LLC<br> National Bank of Canada Financial Inc.<br> Rabo Securities USA, Inc.<br> Regions Securities LLC<br> Scotia Capital (USA) Inc.<br> Truist Securities, Inc.<br> U.S. Bancorp Investments, Inc.<br> Westpac Banking Corporation<br> Academy Securities, Inc.<br> Blaylock Van, LLC<br> Roberts & Ryan Investments, Inc.<br> Samuel A. Ramirez & Company, 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, Citigroup Global Markets Inc. toll free at 1-800-831-9146, J.P. Morgan Securities LLC collect at 1-212-834-4533, KeyBanc Capital Markets Inc. toll free at 1-866-227-6479, Santander Investment Securities Inc. toll free at 1-855-403-3636 and SG Americas Securities, LLC collect at 1-855-881-2108.**