New Issue: RBC prices $1 million 13.1% reverse convertible notes linked to Matador

By Sarah Lizee

Olympia, Wash., June 13 – Royal Bank of Canada priced $1 million of 13.1% reverse convertible notes due June 16, 2020 linked to the common stock of Matador Resources Co., according to a 424B2 filing with the Securities and Exchange Commission.

Interest is payable quarterly.

The payout at maturity will be par unless Matador stock falls by 25% or more, in which case the payout will be a number of Matador shares equal to par divided by the initial share price or, at the issuer's option, the value of those shares in cash.

RBC Capital Markets, LLC is the agent.

Issuer:	Royal Bank of Canada
Issue:	Reverse convertible notes
Underlying stock:	Matador Resources Co.
Amount:	$1 million
Maturity:	June 16, 2020
Coupon:	13.1%, payable quarterly
Price:	Par of $1,000
Payout at maturity:	Par unless stock falls below barrier price, in which case number of Matador shares equal to par divided by the initial share price or, at the issuer's option, the value of those shares in cash
Initial share price:	$17.31
Barrier price:	$12.98, 75% of initial price
Pricing date:	June 11
Settlement date:	June 14
Agent:	RBC Capital Markets, LLC
Fees:	1.75%
Cusip:	78013GWV3

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