Chicago, Nov. 18 – Royal Bank of Canada priced $1.05 million of contingent income autocallable securities due March 7, 2025 linked to the common stock of Cisco Systems, Inc., according to a 424B2 filing with the Securities and Exchange Commission.
Investors will receive a coupon of 8.1%, paid quarterly, if the underlying stock closes at or above its 70% downside threshold on the related observation date.
The securities will be called automatically at par if the stock closes at or above its initial level on any quarterly review date after six months.
At maturity, the payout will be par unless the stock finishes below its 70% downside threshold level, in which case investors will be fully exposed to the decline of the stock.
RBC Capital Markets, LLC is the agent. Morgan Stanley Wealth Management is the dealer.
| Issuer: | Royal Bank of Canada
|
| Issue: | Contingent income autocallable securities
|
| Underlying stock: | Cisco Systems, Inc.
|
| Amount: | $1,052,880
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| Maturity: | March 7, 2025
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| Coupon: | 8.1% annual rate, paid quarterly, if the underlying stock closes at or above its downside threshold on the related observation date
|
| Price: | Par of $10
|
| Payout at maturity: | Par unless the stock finishes below its downside threshold level, in which case investors will be fully exposed to the decline in the stock
|
| Call: | Automatically at par if the stock closes at or above its initial level on any quarterly review date after six months
|
| Initial level: | $56.51
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| Downside threshold: | $39.56, 70% of initial level
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| Pricing date: | March 4
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| Settlement date: | March 9
|
| Agent: | RBC Capital Markets, LLC
|
| Dealer: | Morgan Stanley Wealth Management
|
| Fees: | 2.5%
|
| Cusip: | 78016C499
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