By Wendy Van Sickle
Columbus, Ohio, Feb. 14 – Royal Bank of Canada priced $14 million of 8.2% airbag autocallable yield notes due Feb. 18, 2021 linked to the common shares of FedEx Corp., according to a 424B2 filing with the Securities and Exchange Commission.
Interest is payable monthly.
The notes will be automatically called at par if the shares close at or above the initial share price on any quarterly observation date.
The payout at maturity will be par unless the final share price is less than the conversion price, 90% of the initial share price, in which case the payout will be a number of the shares equal to $1,000 divided by the conversion price.
UBS Financial Services Inc. and RBC Capital Markets, LLC are the agents.
| Issuer: | Royal Bank of Canada
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| Issue: | Airbag autocallable yield notes
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| Underlying stock: | FedEx Corp.
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| Amount: | $14 million
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| Maturity: | Feb. 18, 2021
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| Coupon: | 8.2%, payable monthly
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| Price: | Par
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| Payout at maturity: | Par unless final share price is less than conversion price, in which case 7.0097 shares
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| Call: | Automatically at par if shares close at or above initial share price on any quarterly observation date
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| Initial share price: | $158.51
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| Conversion price: | $142.66, 90% of initial share price
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| Pricing date: | Feb. 12
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| Settlement date: | Feb. 18
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| Agents: | UBS Financial Services Inc. and RBC Capital Markets, LLC
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| Fees: | 1.5%
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| Cusip: | 78014K501
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