By Wendy Van Sickle
Columbus, Ohio, June 5 – Royal Bank of Canada priced $2.5 million of autocallable contingent coupon barrier notes due May 31, 2019 linked to the least performing of three common stocks, according to a 424B2 filing with the Securities and Exchange Commission.
The underlying companies are Nvidia Corp., Alphabet Inc. and Facebook, Inc.
Each quarter, the notes will pay a contingent coupon at an annual rate of 14.5% if each stock closes at or above the 65% coupon barrier on the observation date for that quarter.
Beginning Nov. 27, 2017, the notes will be called at par if each stock closes at or above its initial price on any quarterly observation date.
The payout at maturity will be par unless any stock finishes below the 65% trigger level, in which case investors will lose 1% for each 1% decline of the worst performing stock.
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: | Nvidia Corp., Alphabet Inc. and Facebook, Inc.
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| Amount: | $2.5 million
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| Maturity: | May 31, 2019
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| Coupon: | 14.5%, payable quarterly if each stock closes at or above 65% coupon barrier on observation date for that quarter
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| Price: | Par
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| Payout at maturity: | Par unless stock finishes below trigger price, in which exposure to loss of worst performing stock
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| Call: | At par if stock closes at or above initial price on any quarterly observation date beginning Nov. 27, 2017
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| Initial prices: | $152.13 for Facebook, $971.47 for Alphabet, $141.84 for Nvidia
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| Trigger levels: | $98.88 for Facebook, $631.46 for Alphabet, $92.20 for Nvidia; 65% of initial price
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| Pricing date: | May 26
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| Settlement date: | May 31
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| Agents: | RBC Capital Markets, LLC
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| Fees: | 2.25%
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| Cusip: | 78012KT23
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