By Susanna Moon
Chicago, June 13 – Royal Bank of Canada priced $1 million of autocallable contingent coupon barrier notes due June 7, 2019 linked to the lesser performing of the common stocks of Ford Motor Co. and MetLife, Inc., according to a 424B2 filing with the Securities and Exchange Commission.
The notes pay a contingent quarterly coupon at an annual rate of 12.4% if each stock closes at or above its 75% coupon barrier on the observation date for that quarter.
The notes will be called at par if each stock closes at or above its initial level on any quarterly observation date.
The payout at maturity will be par unless either stock finishes below its 75% trigger level, in which case investors will be fully exposed to any losses of the worse performing stock.
RBC Capital Markets, LLC is the underwriter.
| Issuer: | Royal Bank of Canada
|
| Issue: | Autocallable contingent coupon barrier notes
|
| Underlying assets: | Ford Motor Co. (Symbol: F) and MetLife, Inc. (Symbol: MET)
|
| Amount: | $1 million
|
| Maturity: | June 7, 2019
|
| Coupon: | 12.4% annualized, payable quarterly if each stock closes at or above 75% coupon barrier on observation date for that quarter
|
| Price: | Par
|
| Payout at maturity: | Par unless either stock finishes below 75% trigger, in which case 1% loss per 1% decline of worse performing stock
|
| Call: | At par if each stock closes at or above initial level on any quarterly observation date
|
| Initial levels: | $11.74 for Ford and $46.33 for Metlife
|
| Barrier levels: | $8.81 for Ford and $34.75 for Metlife, 75% of initial levels
|
| Pricing date: | June 4
|
| Settlement date: | June 7
|
| Agent: | RBC Capital Markets, LLC
|
| Fees: | 1.25%
|
| Cusip: | 78013GGB5
|
|
|
|
|
© 2015 Prospect News.
All content on this website is protected by copyright law in the U.S. and elsewhere.
For the use of the person downloading only.
Redistribution and copying are prohibited by law without written permission in advance from Prospect News.
Redistribution or copying includes e-mailing, printing multiple copies or any other form of reproduction.
