Chicago, Oct. 23 – Royal Bank of Canada priced $5.6 million of autocallable contingent coupon barrier notes due Oct. 21, 2026 linked to the common stock of Apple Inc., according to a 424B2 filing with the Securities and Exchange Commission.
The notes pay a contingent quarterly coupon at an annual rate of 9.25% if the stock closes at or above its coupon barrier price, 75% of its initial price, on the corresponding observation date.
The notes will be called at par plus the coupon if the stock closes at or above its initial share price on any quarterly observation date after six months.
If the notes are not called, the payout at maturity will be par plus the final coupon unless the stock finishes below its 75% trigger price, in which case investors will be fully exposed to the decline.
RBC Capital Markets, LLC is the agent.
| Issuer: | Royal Bank of Canada
|
| Issue: | Autocallable contingent coupon barrier notes
|
| Underlying stock: | Apple Inc.
|
| Amount: | $5,595,000
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| Maturity: | Oct. 21, 2026
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| Coupon: | 9.25% annual rate, payable quarterly if stock closes at or above coupon barrier price on the corresponding observation date
|
| Price: | Par
|
| Payout at maturity: | Par plus the final coupon unless stock finishes below trigger price, in which case full exposure to decline
|
| Call: | At par plus coupon if stock closes at or above initial share price on any quarterly observation date after six months
|
| Initial share price: | $178.72
|
| Coupon barrier price: | $134.04; 75% of initial share price
|
| Trigger price: | $134.04; 75% of initial share price
|
| Pricing date: | Oct. 16
|
| Settlement date: | Oct. 19
|
| Agent: | RBC Capital Markets, LLC
|
| Fees: | 2.25%
|
| Cusip: | 78016NR41
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