Chicago, Aug. 16 – Royal Bank of Canada priced $738,000 of 0% autocallable cumulative barrier notes due July 18, 2025 linked to the common stock of Advanced Micro Devices, Inc., according to a 424B2 filing with the Securities and Exchange Commission.
The notes will be called at par plus an annualized 22.5% call premium if the stock closes at or above its initial share price on any quarterly observation date after one year.
At maturity, if the stock closes above the initial level the payout will be par plus the 67.5% call premium.
If the stock declines but finishes above the 60% barrier price, the payout will be par.
Otherwise, investors will be fully exposed to the losses of the stock.
RBC Capital Markets, LLC is the underwriter.
| Issuer: | Royal Bank of Canada
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| Issue: | Autocallable cumulative barrier notes
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| Underlying stock: | Advanced Micro Devices, Inc.
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| Amount: | $738,000
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| Maturity: | July 18, 2025
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| Coupon: | 0%
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| Price: | Par
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| Payout at maturity: | Par plus 67.5% call premium if stock closes above initial level; par if stock declines but finishes above barrier level; otherwise, full exposure to losses of stock
|
| Call: | At par plus annualized 22.5% call premium if stock closes at or above initial share price on any quarterly observation date after one year
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| Initial share price: | $81.11
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| Barrier price: | $48.67; 60% of initial share price
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| Pricing date: | July 15, 2022
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| Settlement date: | July 20, 2022
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| Underwriter: | RBC Capital Markets, LLC
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| Fees: | 2.25%
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| Cusip: | 78016FNV2
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