RBC to price fixed-coupon barrier notes tied to Tesla

By Emma Trincal

New York, July 13 – Royal Bank of Canada plans to price 9.5% to 10.5% fixed-coupon barrier notes due July 25, 2023 tied to the common stock of Tesla, Inc., according to an FWP filing with the Securities and Exchange Commission.

Interest is payable monthly.

The exact interest rate will be set at pricing.

At maturity investors will receive par unless the stock finishes below its 60% barrier price, in which case investors will be fully exposed to the decline in the stock price.

RBC Capital Markets, LLC is the underwriter.

The notes will price on July 20 and settle on July 23.

The Cusip number is 78016EKH9.

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