RBC Capital Trust, a closed-end unit trust established by Royal Bank of Canada, will redeem all of its issued and outstanding $500 million principal amount of Trust Capital Securities Series 2008-1 on June 30 for cash at a redemption price of $1,000 per unit to be paid on July 3, the Toronto-based bank announced on Wednesday.

The redemption of the units will be financed out of the general funds of RBC Capital Trust.