By Wendy Van Sickle
Columbus, Ohio, Dec. 11 – Royal Bank of Canada priced $6.27 million of contingent income autocallable securities due June 12, 2019 linked to Nvidia Corp. stock, according to a 424B2 filing with the Securities and Exchange Commission.
The notes will pay a contingent monthly coupon at an annual rate of 12.5% if the stock closes at or above the 60% downside threshold on the determination date for that month.
The notes will be called at par plus the contingent coupon if the stock closes at or above its initial level on any of the first five determination dates.
The payout at maturity will be par unless the stock finishes below its 60% downside threshold, in which case investors will lose 1% for each 1% decline.
RBC Capital Markets, LLC is the agent with Morgan Stanley Wealth Management as dealer.
| Issuer: | Royal Bank of Canada
|
| Issue: | Contingent income autocallable securities
|
| Underlying stock: | Nvidia Corp.
|
| Amount: | $6,265,000
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| Maturity: | June 12, 2019
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| Coupon: | 12.5% annualized, payable each month if stock closes at or above downside threshold level on determination date
|
| Price: | Par
|
| Payout at maturity: | If stock finishes above downside threshold, par; otherwise, full exposure to decline
|
| Call: | At par plus contingent coupon if stock closes at or above initial level on any of the first five determination dates
|
| Initial share price: | $147.61
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| Downside threshold: | $88.57, 60% of initial level
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| Pricing date: | Dec. 7
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| Settlement date: | Dec. 12
|
| Agent: | RBC Capital Markets, LLC with Morgan Stanley Wealth Management as dealer
|
| Fees: | 1.25%
|
| Cusip: | 78014G864
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