New York, March 21 – Royal Bank of Canada priced $3.15 million of contingent income autocallable securities due March 14, 2019 linked to the performance of 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 9.5% if the stock closes at or above its 75% downside threshold on the determination date that quarter.
The notes will be called at par if the stock closes at or above its initial level on any determination date other than the final date.
The payout at maturity will be par unless the stock finishes below its 75% downside threshold, in which case investors will be fully exposed to any losses.
RBC Capital Markets, LLC is the agent with distribution through Morgan Stanley Wealth Management.
| Issuer: | Royal Bank of Canada
|
| Issue: | Contingent income autocallable securities
|
| Underlying stock: | Halliburton Co. (Symbol: HAL)
|
| Amount: | $3,153,980
|
| Maturity: | March 14, 2019
|
| Coupon: | 9.5% annualized, payable quarterly if stock closes at or above 75% downside threshold on determination date for that quarter
|
| Price: | Par
|
| Payout at maturity: | If stock finishes at or above downside threshold, par; otherwise, 1% loss for each 1% decline
|
| Call: | At par if stock closes at or above its initial level on any determination date other than the final date
|
| Initial level: | $46.99
|
| Downside threshold: | $35.24, 75% of initial level
|
| Pricing date: | March 9
|
| Settlement date: | March 14
|
| Agent: | RBC Capital Markets, LLC with Morgan Stanley Wealth Management as distributor
|
| Fees: | 1.25%
|
| Cusip: | 78013Q558
|
|
|
|
|
© 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.
