By Wendy Van Sickle
Columbus, Ohio, July 20 – Royal Bank of Canada priced $10.67 million of autocallable contingent coupon barrier notes due July 19, 2022 linked to Halliburton Co. stock, according to a 424B2 filing with the Securities and Exchange Commission.
The notes will pay a contingent quarterly coupon at an annual rate of 14% if the stock closes at or above its 70% coupon barrier on the observation date for that quarter.
The notes will be automatically called at par if the stock closes its initial level on any quarterly observation date.
The payout at maturity will be par unless the stock finishes below its 70% trigger price, in which case investors will receive 46.62 Halliburton shares or the cash equivalent.
RBC Capital Markets, LLC is the agent.
| Issuer: | Royal Bank of Canada
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| Issue: | Autocallable contingent coupon barrier notes
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| Underlying stock: | Halliburton Co.
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| Amount: | $10,668,000
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| Maturity: | July 19, 2022
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| Coupon: | 14%, payable quarterly if 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 stock finishes below trigger price, in which case 46.62 Halliburton shares or the cash equivalent
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| Call: | At par if stock closes above initial level on any quarterly review date
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| Initial level: | $21.45
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| Trigger price/coupon barrier: | $15.02, 70% of initial level
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| Pricing date: | July 14
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| Settlement date: | July 19
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| Agent: | RBC Capital Markets, LLC
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| Fees: | 1.25%
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| Cusip: | 78013GV28
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