Chicago, Jan. 8 – Royal Bank of Canada priced $700,000 of autocallable contingent coupon buffered notes due Dec. 27, 2024 linked to the lesser performing of the Market Vectors Gold Miners exchange-traded fund and the iShares Silver Trust, according to a 424B2 filing with the Securities and Exchange Commission.
The notes will pay a monthly coupon at an annual rate of 5.6% if each fund closes at or above its coupon barrier level, 80% of its initial price, on the observation date for that period.
The notes will be called at par plus the coupon if each fund closes at or above its initial price on any monthly observation date after one year.
The payout at maturity will be par plus the final coupon unless either fund finishes below the 80% trigger price, in which case investors will lose 1% for each 1% that the lesser-performing fund’s final level beyond the 20% buffer.
RBC Capital Markets, LLC is the agent.
| Issuer: | Royal Bank of Canada
|
| Issue: | Autocallable contingent coupon barrier notes
|
| Underlying ETFs: | Market Vectors Gold Miners exchange-traded fund and the iShares Silver Trust
|
| Amount: | $700,000
|
| Maturity: | Dec. 27, 2024
|
| Coupon: | 5.6%, payable monthly if each fund closes at or above coupon barrier level on observation date for that period
|
| Price: | Par
|
| Payout at maturity: | Par plus coupon unless either fund finishes below trigger price, in which case investors will lose 1% for each 1% that the lesser-performing fund’s finishes beyond the 20% buffer
|
| Call: | Automatically at par if each fund closes at or above its initial share price on any monthly observation date after one year
|
| Initial fund prices: | $27.77 for Gold, $16.28 for Silver
|
| Coupon barrier/trigger prices: | $22.22 for Gold, $13.02 for Silver; 80% of initial stock prices
|
| Pricing date: | Dec. 23
|
| Settlement date: | Dec. 27
|
| Agent: | RBC Capital Markets, LLC
|
| Fees: | 3.8%
|
| Cusip: | 78015KGV0
|
|
|
© 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.
