By Wendy Van Sickle
Columbus, Ohio, Nov. 21 – Royal Bank of Canada priced $265,000 of autocallable contingent coupon barrier notes due Nov. 19, 2021 linked to the lesser performing of the common stocks of Ford Motor Co. and General Motors Corp., according to a 424B2 filing with the Securities and Exchange Commission.
The notes will pay a contingent quarterly coupon at an annual rate of 9.4% if each stock closes at or above its 50% coupon barrier on the observation date for that quarter.
The notes will be automatically called at par if each stock closes its initial price on any observation date beginning on May 16, 2019.
The payout at maturity will be par unless either stock finishes below its 50% trigger price, in which case investors will be fully exposed to any losses of the least-performing stock.
RBC Capital Markets, LLC is the agent.
| Issuer: | Royal Bank of Canada
|
| Issue: | Autocallable contingent coupon barrier notes
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| Underlying stocks: | Ford Motor Co. and General Motors Corp.
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| Amount: | $265,000
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| Maturity: | Nov. 19, 2021
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| Coupon: | 9.4%, payable quarterly if each stock closes at or above coupon barrier on observation date for that quarter
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| Price: | Par
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| Payout at maturity: | Par unless either stock finishes below trigger price, in which case par plus return of the least-performing stock
|
| Call: | Automatically at par if each stock closes above initial price on any observation date after six months
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| Initial prices: | $35.75 for Ford and $9.05 for General Motors
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| Coupon barriers/trigger prices: | $17.88 for Ford and $4.53 for General Motors, 50% of initial prices
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| Pricing date: | Nov. 16
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| Settlement date: | Nov. 21
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| Agent: | RBC Capital Markets, LLC
|
| Fees: | 2.25%
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| Cusip: | 78013XRQ3
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