By Sarah Lizee
Olympia, Wash., Feb. 21 – Royal Bank of Canada priced $1.05 million of autocallable contingent coupon barrier notes due Feb. 17, 2023 linked to the least performing of the common stocks of Caterpillar Inc. and Dow Inc., according to a 424B2 filing with the Securities and Exchange Commission.
The notes will pay a contingent quarterly coupon at an annual rate of 11% if each stock closes at or above its 60% coupon barrier on the observation date for that quarter.
The notes will be called at par plus the coupon if each stock closes above its initial price on any observation date after six months.
The payout at maturity will be par unless any stock finishes below its 60% 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
|
| Underlying stocks: | Caterpillar Inc. and Dow Inc.
|
| Amount: | $1.05 million
|
| Maturity: | Feb. 17, 2023
|
| Coupon: | 11%, payable quarterly if each stock closes at or above coupon barrier on observation date for that quarter
|
| Price: | Par
|
| Payout at maturity: | Par unless any stock finishes below trigger price, in which case par plus return of the least-performing stock
|
| Call: | At par plus coupon if each stock closes above initial price on any observation date after six months
|
| Initial prices: | $137.99 for Caterpillar, $48.63 for Dow
|
| Coupon barrier/triggers: | $82.79 for Caterpillar, $29.18 for Dow; 60% of initial prices
|
| Pricing date: | Feb. 14
|
| Settlement date: | Feb. 20
|
| Agent: | RBC Capital Markets, LLC
|
| Fees: | 2.25%
|
| Cusip: | 78015KQB3
|
|
|
© 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.
