Published on 4/19/2024 in the Prospect News Structured Products Daily.
New Issue: RBC prices $733,000 autocallable contingent coupon barrier notes on three stocks
Chicago, April 19 – Royal Bank of Canada priced $733,000 of autocallable contingent coupon barrier notes due Jan. 27, 2027 linked to the lesser performing of the stocks of CrowdStrike Holdings, Inc., Devon Energy Corp. and Charles Schwab Corp., according to a 424B2 filing with the Securities and Exchange Commission.
Each month, the notes pay a contingent coupon at the rate of 20.7% per year if the each stock closes at or above its coupon barrier level, 60% of its initial price, on the observation date for that period.
The notes will be called at par if each stock closes at or above its initial level on any quarterly observation date after nine months.
If the notes are not called, the payout at maturity will be par unless any stock finishes below its 60% trigger price, in which case investors will be fully exposed to the decline.
RBC Capital Markets, LLC is the underwriter.
| Issuer: | Royal Bank of Canada
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| Issue: | Autocallable contingent coupon barrier notes
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| Underlying stocks: | CrowdStrike Holdings, Inc., Devon Energy Corp. and Charles Schwab Corp.
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| Amount: | $733,000
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| Maturity: | Jan. 27, 2027
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| Coupon: | 20.7% annual rate, payable monthly if each stock closes at or above coupon barrier level on observation date for that period
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| Price: | Par
|
| Payout at maturity: | Par unless any stock finishes below trigger price, in which case full exposure to decline
|
| Call: | At par if each stock closes at or above initial share price on any quarterly observation date after nine months
|
| Initial share price: | $298.66 for CrowdStrike, $41.18 for Devon, $63.63 for Schwab
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| Coupon barrier levels: | $179.20 for CrowdStrike, $24.71 for Devon, $38.18 for Schwab; 60% of initial share prices
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| Trigger levels: | $179.20 for CrowdStrike, $24.71 for Devon, $38.18 for Schwab; 60% of initial share prices
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| Pricing date: | Jan. 22
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| Settlement date: | Jan. 25
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| Underwriter: | RBC Capital Markets, LLC
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| Fees: | 1%
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| Cusip: | 78017FAF0
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