By Wendy Van Sickle
Columbus, Ohio, April 26 – Royal Bank of Canada priced $1.01 million of trigger autocallable contingent yield notes due April 28, 2025 linked to the common stock of Mobileye Global Inc., according to a 424B2 filing with the Securities and Exchange Commission.
Each quarter, the notes will pay a contingent coupon at the rate of 14.8% per year if Mobileye Global shares close at or above the downside threshold level, 50% of the initial share price, on the observation date for that quarter.
The notes will be automatically called at par of $10 if Mobileye Global shares close at or above the initial share price on any quarterly observation date.
If the notes are not called and the final share price is greater than or equal to the downside threshold level, the payout at maturity will be par. Otherwise, investors will lose 1% for every 1% that the final share price is less than the initial share price.
UBS Financial Services Inc. and RBC Capital Markets, LLC are the agents.
| Issuer: | Royal Bank of Canada
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| Issue: | Trigger autocallable contingent yield notes
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| Underlying stock: | Mobileye Global Inc.
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| Amount: | $1.01 million
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| Maturity: | April 28, 2025
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| Coupon: | 14.8% per year, payable quarterly if Mobileye Global shares close at or above downside threshold level on observation date for that quarter
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| Price: | Par
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| Payout at maturity: | If final share price is greater than or equal to the downside threshold level, par; otherwise, 1% loss for every 1% that final share price is less than initial share price
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| Call: | Automatically at par if Mobileye Global shares close at or above initial share price on any quarterly observation date
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| Initial share price: | $30.12
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| Downside threshold: | $15.06, or 50% of initial share price
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| Pricing date: | April 23
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| Settlement date: | April 26
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| Agents: | UBS Financial Services Inc. and RBC Capital Markets, LLC
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| Fees: | 1.5%
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| Cusip: | 78016R819
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