RBC Global Asset Management Inc. announces maturity date of RBC Target 2021 Corporate Bond Index ETF

TORONTO, March 18, 2021 /CNW/ - RBC Global Asset Management Inc. ("RBC GAM Inc.") today announced that RBC Target 2021 Corporate Bond Index ETF RQI will mature on Friday, November 12, 2021 (the "maturity date").

Unlike traditional exchange-traded funds ("ETFs"), which have a perpetual life, target maturity ETFs have a specified maturity date that is established when the ETF is launched and disclosed in its prospectus. When the ETF reaches its maturity date, the ETF's final net asset value ("NAV") is returned to the current unitholders.

A target maturity ETF's portfolio contains 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 can be expected to decline as it approaches maturity, reducing sensitivity to interest rate changes. These ETFs do not seek to return any predetermined amount at maturity.

The RBC family of Target Maturity Corporate Bond ETFs includes seven ETFs with maturities ranging from 2021 to 2027.

RBC GAM Inc. will issue an additional press release on or about the maturity date confirming final details of the maturity. Further details of the maturity will be mailed to unitholders of RBC Target 2021 Corporate Bond Index ETF at least 60 days prior to the maturity date.

For further information regarding RBC ETFs, please visit www.rbcgam.com/etfsolutions.

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.

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 86,000+ 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 34 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 1,400 employees located across Canada, the United States, Europe and Asia.

SOURCE RBC Global Asset Management Inc.