By Susanna Moon
Chicago, Oct. 26 – Royal Bank of Canada priced $5.69 million of trigger autocallable contingent yield notes due Oct. 15, 2021 linked to the lesser performing of the SPDR S&P Bank ETF and the iShares Russell 2000 ETF, according to a 424B2 filing with the Securities and Exchange Commission.
The notes pay a contingent quarterly coupon at an annual rate of 8.05% if each underlying fund closes at or above its 70% coupon barrier on the observation date for that quarter.
The notes will be called at par if each fund closes at or above its initial level on any quarterly observation date after six months.
The payout at maturity will be par unless either fund finishes below its 70% trigger level, in which case investors will lose 1% for each 1% decline of the worse performing fund.
UBS Financial Services Inc. and RBC Capital Markets, LLC are the agents.
| Issuer: | Royal Bank of Canada
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| Issue: | Trigger autocallable contingent yield notes
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| Underlying funds: | SPDR S&P Bank ETF and iShares Russell 2000 ETF
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| Amount: | $5,688,000
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| Maturity: | Oct. 15, 2021
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| Coupon: | 8.05% annualized, payable quarterly if each fund closes at or above its 70% coupon barrier on observation date for that quarter
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| Price: | Par of $10
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| Payout at maturity: | If each fund finishes at or above trigger level, par; otherwise, 1% loss per 1% decline of worst performing fund
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| Call: | At par if fund closes at or above initial level on each quarterly observation date after six months
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| Initial levels: | $44.17 for S&P fund and $153.60 Russell fund
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| Trigger levels: | $30.92 for S&P fund and $107.52 Russell fund, 70% of initial levels
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| Pricing date: | Oct. 12
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| Settlement date: | Oct. 17
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| Agents: | UBS Financial Services Inc. and RBC Capital Markets, LLC
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| Fees: | 2%
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| Cusip: | 78014G625
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