By Wendy Van Sickle
Columbus, Ohio, Aug. 30 – Royal Bank of Canada priced $1.16 million issuer callable contingent coupon barrier notes due Feb. 27, 2025 tied to the common stock of Amazon.com, 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% if the stock closes above its 60% coupon barrier on any observation date for that period.
After six months, the notes may be called at par at the option of the issuer on any quarterly coupon payment date.
Investors will receive par if the final level of the stock is above its 60% trigger level.
Otherwise, investors will be fully exposed to the losses of the stock.
RBC Capital Markets, LLC is the underwriter.
| Issuer: | Royal Bank of Canada
|
| Issue: | Issuer callable contingent coupon barrier notes
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| Underlying stock: | Amazon.com, Inc.
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| Amount: | $1,155,000
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| Maturity: | Feb. 27, 2025
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| Coupon: | 11% per year, paid quarterly if stock closes above coupon barrier related observation date for that period
|
| Price: | Par
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| Payout at maturity: | Par unless stock closes below trigger level, in which case full exposure to losses of stock
|
| Call option: | At par on any quarterly coupon payment date after six months at option of issuer
|
| Initial levels: | $131.84
|
| Coupon barrier levels: | $79.10, 60% of initial level
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| Trigger levels: | $79.10, 60% of initial level
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| Pricing date: | Aug. 24
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| Settlement date: | Aug. 29
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| Agent: | RBC Capital Markets, LLC
|
| Fees: | 0.365%
|
| Cusip: | 78016NVD6
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