By Wendy Van Sickle
Columbus, Ohio, May 25 – Royal Bank of Canada priced $750,000 of issuer-callable 7.1% contingent coupon barrier notes due May 30, 2019 linked to Nvidia Corp. stock, according to a 424B2 filing with the Securities and Exchange Commission.
The notes will pay a contingent quarterly coupon at an annual rate of 12.5% if the stock closes at or above its 70% coupon barrier on the observation date for that quarter.
RBC may call the notes at par on any coupon payment date.
The payout at maturity will be par unless the stock finishes below the 70% trigger price, in which case investors will receive a number shares equal to $1,000 divided by the initial share price.
RBC Capital Markets, LLC is the underwriter.
| Issuer: | Royal Bank of Canada
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| Issue: | Issuer callable contingent coupon barrier notes
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| Underlying stock: | Nvidia Corp.
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| Amount: | $750,000
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| Maturity: | May 30, 2019
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| Coupon: | 12.5%, payable quarterly if stock closes at or above coupon barrier on observation date for that quarter
|
| Price: | Par
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| Payout at maturity: | Par unless stock finishes below trigger level, in which case shares of stock equal to $1,000 divided by the initial share price
|
| Call option: | At par on any coupon payment date
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| Initial level: | $247.69
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| Coupon barrier/trigger price: | $173.38, 70% of initial level
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| Pricing date: | May 24
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| Settlement date: | May 30
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| Agents: | RBC Capital Markets, LLC
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| Fees: | 1.25%
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| Cusip: | 78013XQN1
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