By Angela McDaniels
Tacoma, Wash., Oct. 23 – Royal Bank of Canada priced $916,000 of autocallable contingent coupon barrier notes due Oct. 23, 2020 linked to the lesser performing of the common stocks of Apple, Inc. and Facebook Inc., according to a 424B2 filing with the Securities and Exchange Commission.
Each quarter, the notes pay a contingent coupon at the rate of 8.63% per year if each stock closes at or above its trigger price, 65% of its initial price, on the observation date for that quarter.
Beginning April 20, 2018, the notes will be automatically called at par if each stock closes at or above its initial share price on any quarterly observation date.
The payout at maturity will be par unless either stock finishes below its trigger price, in which case investors will be exposed to the decline of the lesser-performing stock from its initial share price.
RBC Capital Markets, LLC is the underwriter.
| Issuer: | Royal Bank of Canada
|
| Issue: | Autocallable contingent coupon barrier notes
|
| Underlying stocks: | Apple, Inc. (Symbol: AAPL) and Facebook Inc. (Symbol: FB)
|
| Amount: | $916,000
|
| Maturity: | Oct. 23, 2020
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| Coupon: | 8.63% per year, payable quarterly if each stock closes at or above trigger price on observation date for that quarter
|
| Price: | Par
|
| Payout at maturity: | Par unless either stock finishes below trigger price, in which case exposure to decline of lesser-performing stock from initial share price
|
| Call: | Beginning April 20, 2018, automatically at par if each stock closes at or above initial share price on any quarterly observation date
|
| Initial share prices: | $156.25 for Apple and $174.98 for Facebook
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| Trigger prices: | $101.56 for Apple and $113.74 for Facebook; 65% of initial prices
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| Pricing date: | Oct. 20
|
| Settlement date: | Oct. 25
|
| Underwriter: | RBC Capital Markets, LLC
|
| Fees: | 2.25%
|
| Cusip: | 78013GKE4
|
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