By William Gullotti
Buffalo, N.Y., June 28 – Royal Bank of Canada priced $10.07 million of autocallable contingent coupon barrier notes due June 20, 2024 linked to the common stock of Ford Motor Co., according to a 424B2 filing with the Securities and Exchange Commission.
Each quarter, the notes pay a contingent coupon at the rate of 10% per year if the stock closes at or above its coupon barrier price, 65% of its initial price, on the observation date for that quarter.
The notes will be called at par if the stock closes at or above its initial share price on any quarterly observation date after six months.
If the notes are not called, the payout at maturity will be par unless the stock finishes below its 65% trigger price, in which case investors will be fully exposed to the decline.
RBC Capital Markets, LLC is the underwriter.
| Issuer: | Royal Bank of Canada
|
| Issue: | Autocallable contingent coupon barrier notes
|
| Underlying stock: | Ford Motor Co.
|
| Amount: | $10,070,000
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| Maturity: | June 20, 2024
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| Coupon: | 10% annual rate, payable quarterly if stock closes at or above trigger price on observation date for that quarter
|
| Price: | Par
|
| Payout at maturity: | Par unless stock finishes below trigger price, in which case full exposure to decline
|
| Call: | At par if stock closes at or above initial share price on any quarterly observation date after six months
|
| Initial share price: | $15.00
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| Coupon barrier price: | $9.75; 65% of initial share price
|
| Trigger price: | $9.75; 65% of initial share price
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| Pricing date: | June 15
|
| Settlement date: | June 18
|
| Underwriter: | RBC Capital Markets, LLC
|
| Fees: | 2.25%
|
| Cusip: | 78016E4G9
|
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