New Issue: RBC prices $421,000 contingent coupon barrier autocalls on Microsoft

Chicago, March 9 – Royal Bank of Canada priced $421,000 of autocallable contingent coupon barrier notes due May 16, 2025 linked to Microsoft Corp. stock, according to a 424B2 filing with the Securities and Exchange Commission.

The notes will pay a contingent quarterly coupon at an annual rate of 10% if the stock closes at or above its 75% coupon barrier on the observation date for that quarter.

The notes will be automatically called at par if the stock closes its initial level on any quarterly observation date after six months.

The payout at maturity will be par unless the stock finishes below its 75% trigger price, in which case investors will be fully exposed to the decline.

RBC Capital Markets, LLC is the agent.

Issuer:	Royal Bank of Canada
Issue:	Autocallable contingent coupon barrier notes
Underlying stock:	Microsoft Corp.
Amount:	$421,000
Maturity:	May 16, 2025
Coupon:	10%, payable quarterly if stock closes at or above coupon barrier on observation date for that quarter
Price:	Par
Payout at maturity:	Par unless stock finishes below trigger price, in which case full exposure to loss
Call:	At par if stock closes above initial level on any quarterly review date after six months
Initial level:	$261.12
Trigger price/coupon barrier:	$195.84, 75% of initial level
Pricing date:	May 13, 2022
Settlement date:	May 18, 2022
Agent:	RBC Capital Markets, LLC
Fees:	2.25%
Cusip:	78016FJQ8

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