By Wendy Van Sickle
Columbus, Ohio, Oct. 8 – Royal Bank of Canada priced $1.24 million of autocallable contingent coupon barrier notes due Sept. 29, 2022 linked to the lesser performing of Intel corp. and Cisco Systems, Inc., according to a 424B2 filing with the Securities and Exchange Commission.
The notes pay a quarterly contingent coupon at an annual rate of 9.25% if both stocks finish above their 60% coupon barriers on the relevant observation date.
The notes will be automatically called at par plus the coupon if both stocks close above their initial prices on any observation date after six months.
The payout at maturity will be par plus the coupon if both stocks finish above their 60% trigger prices.
Otherwise, investors will be exposed to the losses of the worst performing stock.
RBC Capital Markets, LLC is the agent.
| Issuer: | Royal Bank of Canada
|
| Issue: | Autocallable contingent coupon barrier notes
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| Underliers: | Intel corp. and Cisco Systems, Inc.
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| Amount: | $1,241,000
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| Maturity: | Sept. 29, 2022
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| Coupon: | 9.25% annual rate payable quarterly if both stocks finish above their 60% coupon barriers on the relevant observation date
|
| Price: | Par
|
| Payout at maturity: | Par plus coupon if both stocks close above 60% trigger prices; otherwise full exposure to losses of worst performing stock
|
| Call: | Automatically at par plus coupon if both stocks close above initial levels on any quarterly observation date after six months
|
| Initial levels: | $50.92 for Intel and $48.83 for Cisco
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| Buffer level: | $30.55 for Intel and $29.30 for Cisco, 60% of initial levels
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| Pricing date: | Sept. 26
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| Settlement date: | Sept. 30
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| Agent: | RBC Capital Markets, LLC
|
| Fees: | 2.25%
|
| Cusip: | 78015KGW8
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