E-mail us: service@prospectnews.com Or call: 212 374 2800
Bank Loans - CLOs - Convertibles - Distressed Debt - Emerging Markets
Green Finance - High Yield - Investment Grade - Liability Management
Preferreds - Private Placements - Structured Products
 
Published on 10/28/2019 in the Prospect News Structured Products Daily.

New Issue: RBC prices $1 million contingent coupon barrier notes linked to Amazon

By Angela McDaniels

Tacoma, Wash., Oct. 28 – Royal Bank of Canada priced $1 million of issuer callable contingent coupon barrier notes due Oct. 28, 2021 linked to the common stock of Amazon.com, Inc., according to a 424B2 filing with the Securities and Exchange Commission.

Each quarter, the notes pay a contingent coupon at the rate of 9.75% per year if the stock closes at or above its trigger price, 80% of its initial share price, on the observation date for that quarter.

The notes are callable at par on any coupon payment date other than the final coupon payment date.

The payout at maturity will be par unless the stock finishes below its trigger price, in which case the payout will be a number of shares of Amazon stock equal to $1,000 divided by the initial share price or, at the issuer’s option, an amount in cash equal to the value of those shares.

RBC Capital Markets, LLC is the underwriter.

Issuer:Royal Bank of Canada
Issue:Issuer callable contingent coupon barrier notes
Underlying stock:Amazon.com, Inc. (Symbol: AMZN)
Amount:$1 million
Maturity:Oct. 28, 2021
Coupon:9.75%, payable quarterly if stock closes at or above trigger price on observation date for that quarter
Price:Par
Payout at maturity:Par unless stock finishes below trigger price, in which case 7.10581 Amazon shares or, at issuer’s option, amount in cash equal to value of those shares
Call option:At par on any coupon payment date other than final coupon payment date
Initial share price:$1,761.33
Trigger price:$1,409.06, 80% of initial share price
Pricing date:Oct. 25
Settlement date:Oct. 30
Underwriter:RBC Capital Markets, LLC
Fees:1%
Cusip:78013GTG0

© 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.