Published on 8/16/2023 in the Prospect News Structured Products Daily.
New Issue: RBC sells $750,000 issuer callable contingent coupon barrier notes tied to Dexcom
Chicago, Aug. 16 – Royal Bank of Canada priced $750,000 issuer callable contingent coupon barrier notes due July 24, 2024 tied to the common stock of Dexcom, Inc., according to a 424B2 filing with the Securities and Exchange Commission.
The notes will pay a quarterly contingent coupon at an annual rate of 15% if the stock closes above its 50.5% coupon barrier on any observation date for that period.
The notes may be called at par at the option of the issuer on any quarterly coupon payment date.
Investors will receive par if the final level of the stock is above its 50.5% trigger level.
Otherwise, investors will be fully exposed to the losses of the stock.
RBC Capital Markets, LLC is the underwriter.
Issuer: | Royal Bank of Canada
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Issue: | Issuer callable contingent coupon barrier notes
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Underlying stock: | Dexcom, Inc.
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Amount: | $750,000
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Maturity: | July 24, 2024
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Coupon: | 15% per year, paid quarterly if stock closes above coupon barrier related observation date for that period
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Price: | Par
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Payout at maturity: | Par unless stock closes below trigger level, in which case full exposure to losses of stock
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Call option: | At par on any quarterly coupon payment date at option of issuer
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Initial levels: | $80.64
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Coupon barrier levels: | $40.72, 50.5% of initial level
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Trigger levels: | $40.72, 50.5% of initial level
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Pricing date: | July 19, 2022
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Settlement date: | July 22, 2022
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Agent: | RBC Capital Markets, LLC
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Fees: | 1%
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Cusip: | 78016FPK4
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