Royal Bank of Canada today announced that it has filed a final prospectus with securities commissions for the issuance of Innovative Tier 1 capital of the bank.

The bank filed a preliminary prospectus in September

RBC Capital Trust, a subsidiary of Royal Bank of Canada, will issue $1.2 billion of RBC TruCS – Series 2015 on Oct. 28, 2005.

The RBC TruCS – Series 2015 have no maturity date, but are redeemable at the option of RBC Capital Trust, with the approval of the Office of the Superintendent of Financial Institutions, commencing Dec. 31, 2010.

The indicated distribution on the RBC TruCS – Series 2015 will be 4.870%, paid semi-annually until Dec. 31, 2015, and the 180-day Bankers’ Acceptance Rate plus 1.50% thereafter.

RBC Capital Trust is a closed-end trust established under the laws of Ontario. The offering was underwritten by a syndicate led by RBC Dominion Securities Inc.

The capital will be issued for general corporate purposes and will improve the efficiency of the bank’s capital structure.