TORONTO, March 15, 2024 /CNW/ - RBC Global Asset Management Inc. ("RBC GAM Inc.") today announced the renaming of certain fixed income RBC ETFs and a change to the risk rating of RBC Canadian Bank Yield Index ETF. These changes will be reflected in the renewal of the prospectus for RBC ETFs, which is expected to be filed on or about March 22, 2024.

Renaming of certain RBC ETFs
Effective on or about March 22, 2024, the names of the following RBC ETFs will, subject to the approval of the Toronto Stock Exchange, be changed. There is no change to the investment objectives, strategies, and tickers of the below noted RBC ETFs, and no action is needed from unitholders.

Risk rating change for RBC Canadian Bank Yield Index ETF
The risk rating for RBC Canadian Bank Yield Index ETF has increased from "Medium" to "Medium to high" effective today. The change will be reflected in the renewal of the prospectus for the RBC ETFs which is expected to be filed on or about March 22, 2024.

This risk rating change is based on the methodology mandated by the Canadian Securities Administrators to determine the risk level of exchange-traded funds ("ETFs"). RBC GAM Inc. reviews the risk rating for each RBC ETF on an annual basis, as well as when an RBC ETF undergoes a material change. This risk rating change is the result of an annual review and is not a result of any changes to the investment objective, strategies or management of RBC Canadian Bank Yield Index ETF.

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

Commissions, management fees and expenses all may be associated with investments in 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. 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.

RBC Target 2024 Canadian Government Bond ETF, RBC Target 2025 Canadian Government Bond ETF, RBC Target 2026 Canadian Government Bond ETF, RBC Target 2027 Canadian Government Bond ETF, RBC Target 2028 Canadian Government Bond ETF and RBC Target 2029 Canadian Government Bond ETF (collectively, the "TMGB ETFs"), and RBC Target 2024 Canadian Corporate Bond Index ETF, RBC Target 2025 Canadian Corporate Bond Index ETF, RBC Target 2026 Canadian Corporate Bond Index ETF, RBC Target 2027 Canadian Corporate Bond Index ETF, RBC Target 2028 Canadian Corporate Bond Index ETF and RBC Target 2029 Canadian Corporate Bond Index ETF (collectively, the "TMCB ETFs") do not seek to deliver a predetermined amount at 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., and 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 the 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 Maturity Corporate Bond Indices") vest in the relevant LSE Group company which owns the FTSE Maturity Corporate Bond Indices. "FTSE^®" is a trade mark of the relevant LSE Group company and is used by any other LSE Group company under license.

The FTSE Maturity Corporate Bond Indices are calculated by or on behalf of FTSE Global Debt Capital Markets Inc. or its affiliate, agent or partner. 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 Maturity Corporate Bond 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 Maturity Corporate Bond Indices for the purpose to which they are being put by RBC GAM Inc.

RBC Canadian Bank Yield Index ETF, has been developed solely by RBC GAM Inc. and is not sponsored, promoted, sold or supported by Solactive AG ("Solactive"). The Solactive Canada Bank Yield Index is calculated and published by Solactive. Solactive does not offer any express or implicit guarantee or assurance regarding the results to be obtained from the use of the index or index price nor does Solactive make any representation regarding the advisability of investing in the ETFs.

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 94,000+ 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 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 $575 billion in assets and have approximately 1,500 employees located across Canada, the United States, Europe and Asia.

SOURCE RBC Global Asset Management Inc.