TORONTO, Nov. 25, 2022 /CNW/ – RBC Global Asset Management Inc. (“RBC GAM Inc.”) today announced the final valuation of the RBC Target 2022 Corporate Bond Index ETF (TSX: RQJ).
As announced earlier this year, the RBC Target 2022 Corporate Bond Index ETF will mature effective the close of business today, Friday, November 25, 2022. The final net asset value (“NAV”) per unit of the ETF is as follows:
| ETF | TICKER | FINAL NAV PER UNIT |
| RBC Target 2022 Corporate Bond Index ETF | RQJ | $19.3925 |
The final NAV per unit consists of the following:
| Income per unit | $0.007 |
| Capital per unit | $19.3855 |
| Final NAV per unit | $19.3925 |
The maturity proceeds will be paid out of the ETF today to the holders of the remaining outstanding units.
The suite of RBC Target Maturity Corporate Bond ETFs includes seven ETFs with maturities ranging from 2023 to 2029.
Unlike traditional ETFs, which have a perpetual life, target maturity ETFs have a specified maturity date established when the ETF is launched. When the ETF reaches the maturity date, the ETF’s final net asset value (NAV) is returned to the current unitholders.
A target maturity ETF’s portfolio contains fixed income securities that mature throughout its stated maturity year. This structure results in a duration profile similar to that of an individual bond, where the ETF’s duration should decline as it approaches maturity, reducing sensitivity to interest rate changes.
For further information regarding RBC ETFs, please visit https://www.rbcgam.com/etfs.
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.
The RBC Target Maturity Corporate Bond ETFs (“TMCB ETFs”) do not seek to deliver a predetermined amount upon maturity, and the amount an investor receives may be more or less than their original investment.
The TMCB ETFs have been developed solely by RBC GAM Inc. The TMCB ETFs are not in any way connected to or sponsored, endorsed, sold or promoted by the London Stock Exchange Group plc and its group undertakings (collectively, the “LSE Group”).
All rights in FTSE Canada 2022 Maturity Corporate Bond Index, the FTSE Canada 2023 Maturity Corporate Bond Index, FTSE Canada 2024 Maturity Corporate Bond Index, FTSE Canada 2025 Maturity Corporate Bond Index, FTSE Canada 2026 Maturity Corporate Bond Index, FTSE Canada 2027 Maturity Corporate Bond Index, FTSE Canada 2028 Maturity Corporate Bond Index and FTSE Canada 2029 Maturity Corporate Bond Index (collectively, the “FTSE GDCM Indices”) vest in FTSE Global Debt Capital Markets Inc. “FTSE®” is a trade mark of the relevant LSE Group company and is used under license.
The FTSE GDCM Indices are calculated by FTSE Global Debt Capital Markets Inc. or its affiliate, agent or partner, as applicable. The LSE Group does not accept any liability whatsoever to any person arising out of (a) the use of, reliance on or any error in the FTSE GDCM Indices or (b) investment in or operation of the TMCB ETFs. The LSE Group makes no claim, prediction, warranty or representation either as to the results to be obtained from the TMCB ETFs or the suitability of the FTSE GDCM Indices for the purpose to which they are being put by RBC GAM Inc.About RBC
Royal Bank of Canada is a global financial institution with a purpose-driven, principles-led approach to delivering leading performance. Our success comes from the 92,000+ employees who leverage their imaginations and insights to bring our vision, values and strategy to life so we can help our clients thrive and communities prosper. As Canada’s biggest bank and one of the largest in the world, based on market capitalization, we have a diversified business model with a focus on innovation and providing exceptional experiences to our 17 million clients in Canada, the U.S. and 27 other countries. Learn more at rbc.com.
We are proud to support a broad range of community initiatives through donations, community investments and employee volunteer activities. See how at rbc.com/community-social-impact.About RBC Global Asset Management
RBC Global Asset Management (RBC GAM) is the asset management division of Royal Bank of Canada (RBC) and includes 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 $540 billion in assets and have approximately 1,500 employees located across Canada, the United States, Europe and Asia.
SOURCE RBC Global Asset Management Inc.
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