By Kiku Steinfeld
Chicago, March 7 – Royal Bank of Canada priced $983,000 issuer callable contingent coupon barrier notes due Sept. 19, 2023 tied to the common stock of Uber Technologies, 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 12.75% 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 on any quarterly coupon payment date.
Investors will receive par plus the contingent coupon 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 shares or cash at the issuer’s option.
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: | Uber Technologies, Inc.
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Amount: | $983,000
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Maturity: | Sept. 19, 2023
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Coupon: | 12.75% 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 plus contingent coupon unless stock finishes below trigger level, in which case 25.63 shares or cash at issuer’s option
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Call option: | At par plus any coupon due on any quarterly coupon payment date
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Initial price: | $39.01
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Coupon barrier level: | $25.36, 65% of initial price
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Trigger price: | $25.36, 65% of initial price
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Pricing date: | Sept. 14
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Settlement date: | Sept. 17
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Agent: | RBC Capital Markets, LLC
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Fees: | 1.25%
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Cusip: | 78013GY90
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