By Kiku Steinfeld
Chicago, Dec. 13 – Royal Bank of Canada priced $1.12 million issuer callable contingent coupon barrier notes due Aug. 23, 2024 tied to the common stock of Advanced Micro Devices, Inc., according to a 424B2 filing with the Securities and Exchange Commission.
The notes will pay a quarterly contingent coupon at an annual rate of 11.15% if the stock closes at or above its 65% coupon barrier price on the observation date for that quarter.
The notes may be called at par plus any coupon due at the option of the issuer on any quarterly coupon payment date after six months.
Investors will receive par if the final stock price is above its 65% trigger price.
Otherwise, investors will be fully exposed to the losses of the stock, payable in a fixed number of shares or, at the issuer’s option, cash.
RBC Capital Markets, LLC is the agent.
| Issuer: | Royal Bank of Canada
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| Issue: | Issuer callable contingent coupon barrier notes
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| Underlying stock: | Advanced Micro Devices, Inc.
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| Amount: | $1.12 million
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| Maturity: | Aug. 23, 2024
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| Coupon: | 11.15% per year, paid quarterly if stock closes at or above coupon barrier on related observation date for that quarter
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| Price: | Par
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| Payout at maturity: | Par unless stock finishes below trigger level, in which case full exposure to losses, payable in 9.56 shares or, at issuer’s option, cash
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| Call option: | At par plus any coupon due at the option of issuer on any quarterly coupon payment date after six months
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| Initial price: | $104.65
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| Coupon barrier price: | $68.02, 65% of initial price
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| Trigger price: | $68.02, 65% of initial price
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| Pricing date: | Aug. 20
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| Settlement date: | Aug. 25
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| Agent: | RBC Capital Markets, LLC
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| Fees: | 0.27%
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| Cusip: | 78013GX67
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