By Susanna Moon
Chicago, April 17 - Royal Bank of Canada priced $400,000 of trigger phoenix autocallable notes due April 25, 2016 linked to Amazon.com, Inc. shares, according to a 424B2 filing with the Securities and Exchange Commission.
If Amazon stock closes at or above the coupon barrier - 75% of the initial share price - on a quarterly observation date, the notes will pay a contingent coupon for that quarter at an annual rate of 9%.
If the shares close at or above the 110% call level on any quarterly observation date, the notes will be called at par plus the contingent coupon.
If the notes are not called and Amazon shares finish at or above the 75% trigger level, the payout at maturity will be par plus the contingent coupon.
Otherwise, investors will be fully exposed to any losses.
RBC Capital Markets, LLC is the underwriter.
| Issuer: | Royal Bank of Canada
|
| Issue: | Trigger phoenix autocallable notes
|
| Underlying stock: | Amazon.com, Inc. (Nasdaq: AMZN)
|
| Amount: | $400,000
|
| Maturity: | April 25, 2016
|
| Coupon: | 9%, payable quarterly if stock closes at or above trigger price on observation date for that quarter
|
| Price: | Par of $10.00
|
| Payout at maturity: | Par plus contingent coupon if Amazon shares finish at or above trigger price; otherwise, par plus stock return
|
| Call: | At par plus contingent coupon if Amazon shares close at or above call level on a quarterly observation date
|
| Initial share price: | $323.68
|
| Call level: | $356.05, 110% of initial stock price
|
| Trigger price: | $242.76, 75% of initial price
|
| Pricing date: | April 16
|
| Settlement date: | April 24
|
| Underwriter: | RBC Capital Markets, LLC
|
| Fees: | 1.5%
|
| Cusip: | 78010UWY9
|
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