New Issue: RBC prices $655,000 14.5% barrier income notes linked to three stocks

By Wendy Van Sickle

Columbus, Ohio, July 24 – Royal Bank of Canada priced $655,000 of 14.5% barrier income notes due Oct. 18, 2024 linked to the performance of the Charles Schwab Corp., Delta Air Lines, Inc. and Amazon.com, Inc., according to a 424B2 filing with the Securities and Exchange Commission.

Coupon will be payable monthly.

Investors will receive par plus the final coupon if the least performing stock finishes at or above its 60% barrier level.

Otherwise, investors will lose 1% for every 1% that the worst performing stock declines from initial level.

RBC Capital Markets, LLC is the agent.

Issuer:	Royal Bank of Canada
Issue:	Barrier income notes
Underlying funds:	Amazon.com, Inc., Delta Air Lines, Inc., Charles Schwab Corp.
Amount:	$655,000
Maturity:	Oct. 18, 2024
Coupon:	14.5% per year, payable monthly
Price:	Par
Payout at maturity:	Par plus final coupon if each stock finishes at or above barrier level; otherwise, full exposure to losses of worst performer
Initial levels:	$58.41 for Charles Schwab, $348.40 for Delta, $130.80 for Amazon
Barrier levels:	$35.05 for Charles Schwab, $296.14 for Delta, $78.48 for Amazon; 60% of initial levels
Pricing date:	July 12
Settlement date:	July 17
Agent:	RBC Capital Markets, LLC
Fees:	1%
Cusip:	78016NNK9

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