By Wendy Van Sickle
Columbus, Ohio, July 20 – Royal Bank of Canada priced $1.34 million of autocallable contingent coupon barrier notes due July 18, 2025 linked to the performance of the Nasdaq-100 index, according to a 424B2 filing with the Securities and Exchange Commission.
The notes pay a contingent quarterly coupon at the rate of 9.1% per year if the index closes at or above its coupon barrier level, 70% of its initial level, on the relevant observation date.
The notes will be called at par plus coupon if the index closes at or above its initial level on any quarterly observation date after six months.
If the notes are not called and the index finishes at or above its 70% trigger level, the payout at maturity will be par plus the final coupon.
Otherwise, investors will be fully exposed to the index’s decline from its initial level.
RBC Capital Markets, LLC is the agent.
| Issuer: | Royal Bank of Canada
|
| Issue: | Autocallable contingent coupon barrier notes
|
| Underlying index: | Nasdaq-100 index
|
| Amount: | $1,336,000
|
| Maturity: | July 18, 2025
|
| Coupon: | 9.1%, payable quarterly if the index closes at or above coupon barrier level on the relevant observation date
|
| Price: | Par
|
| Payout at maturity: | If the index finishes at or above trigger level, par; otherwise, investors will be fully exposed to decline
|
| Call: | At par plus coupon if the index closes at or above initial level on any quarterly observation date after six months
|
| Initial level: | 11,983.62
|
| Coupon barrier level: | 8,388.53; 70% of initial level
|
| Trigger level: | 8,388.53; 70% of initial level
|
| Pricing date: | July 15
|
| Settlement date: | July 20
|
| Agent: | RBC Capital Markets, LLC
|
| Fees: | 1.5%
|
| Cusip: | 78016FPC2
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