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RBC GAM announces exchange ratios for ETF mergers

By The IJ Staff | April 08 2019 09:30AM

Photo: Freepik

RBC Global Asset Management announced April 5 the exchange ratios for five RBC ETFs that will be merged with certain corresponding iShares ETFs.

RBC GAM announced on March 22 that it had received unitholder approval for a proposal to merge certain RBC ETFs with a corresponding iShares ETF effective on or about April 8, 2019. The RBC International Equity Index ETF will merge with the corresponding iShares ETF on or about April 9, 2019. The mergers have also received regulatory approval. Each of the merging RBC ETFs will be wound up following the mergers.

The exchange ratio determines the number of units of the continuing iShares ETFs existing unitholders will receive for each unit they hold of the applicable merging RBC ETF. The exchange ratio was calculated based on the relative net asset value of both the merging RBC ETFs and continuing iShares ETFs as of market close today, April 5, 2019.

 Merging RBC ETF

Continuing iShares ETF

Exchange Ratio

RBC Canadian Short Term Bond Index ETF (RCSB)

iShares Core Canadian Short Term Bond Index ETF (XSB)

0.728271

RBC Canadian Bond Index ETF (RCUB)

iShares Core Canadian Universe Bond Index ETF (XBB)

0.653893

RBC Canadian Equity Index ETF (RCAN)

iShares Core S&P/TSX Capped Composite Index ETF (XIC)

0.832915

RBC U.S. Equity Index ETF (RUSA)

iShares Core S&P 500 Index ETF (XUS)

0.526564

RBC International Equity Index ETF (RINT)

iShares Core MSCI EAFE IMI Index ETF (XEF)

0.696232

Unitholders of the merging RBC ETFs are not required to take any action in order to become unitholders of the continuing iShares ETFs, says the company.

 

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