By Wendy Van Sickle
Columbus, Ohio, Oct. 5 – Royal Bank of Canada priced $730,000 of autocallable contingent coupon barrier notes due July 24, 2023 linked to the Energy Select Sector SPDR fund, according to a 424B2 filing with the Securities and Exchange Commission.
The notes pay a contingent quarterly coupon at the rate of 11.5% per year if the fund closes at or above its trigger price, 80% of its initial price, on the observation date for that quarter.
The notes will be called at par if the fund closes at or above its initial share price on any quarterly observation date after six months.
If the notes are not called, the payout at maturity will be par unless the fund finishes below its 80% trigger price, in which case investors will have full exposure to the decline.
RBC Capital Markets, LLC is the agent.
| Issuer: | Royal Bank of Canada
|
| Issue: | Autocallable contingent coupon barrier notes
|
| Underlying fund: | Energy Select Sector SPDR fund
|
| Amount: | $730,000
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| Maturity: | July 24, 2023
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| Coupon: | 11.5%, payable quarterly if fund closes at or above trigger price on observation date for that quarter
|
| Price: | Par
|
| Payout at maturity: | Par unless fund finishes below trigger price, in which case full exposure to loss
|
| Call: | At par if fund closes at or above initial share price on any quarterly observation date after six months
|
| Initial share price: | $46.96
|
| Trigger price: | $37.57, 80% of initial share price
|
| Pricing date: | July 19
|
| Settlement date: | July 22
|
| Agent: | RBC Capital Markets, LLC
|
| Fees: | 2.25%
|
| Cusip: | 78013GV51
|
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