New Issue: RBC sells $353,000 contingent coupon barrier autocallables on Amazon.com

By Sarah Lizee

Olympia, Wash., Dec. 26 – Royal Bank of Canada priced $353,000 of autocallable contingent coupon barrier notes due Dec. 27, 2021 linked to the common stock of Amazon.com, Inc., according to a 424B2 filing with the Securities and Exchange Commission.

The notes will pay a contingent quarterly coupon at an annual rate of 11.1% if the stock closes at or above its 75% coupon barrier on the observation date for that quarter.

The notes will be automatically called at par if the stock closes its initial price on any observation date beginning on June 21, 2019.

The payout at maturity will be par unless the stock finishes below its 75% trigger price, in which case investors will be fully exposed to any losses.

RBC Capital Markets, LLC is the agent.

Issuer:	Royal Bank of Canada
Issue:	Autocallable contingent coupon barrier notes
Underlying stock:	Amazon.com, Inc.
Amount:	$353,000
Maturity:	Dec. 27, 2021
Coupon:	11.1%, payable quarterly if stock closes at or above coupon barrier on observation date for that quarter
Price:	Par
Payout at maturity:	Par unless stock finishes below trigger price, in which case par plus return of the least-performing stock
Call:	Automatically at par if stock closes above initial price on any observation date after six months
Initial price:	$1,377.45
Coupon barrier/trigger price:	$1,033.09, 75% of initial price
Pricing date:	Dec. 21
Settlement date:	Dec. 27
Agent:	RBC Capital Markets, LLC
Fees:	2.25%
Cusip:	78013XTZ1

© 2015 Prospect News.
All content on this website is protected by copyright law in the U.S. and elsewhere. For the use of the person downloading only.
Redistribution and copying are prohibited by law without written permission in advance from Prospect News.
Redistribution or copying includes e-mailing, printing multiple copies or any other form of reproduction.