By Sarah Lizee
Olympia, Wash., Dec. 2 – Royal Bank of Canada priced $5.9 million of 11.2% trigger callable yield notes due Nov. 19, 2020 linked to the common stock of WestRock Co., according to a 424B2 filing with the Securities and Exchange Commission.
Interest is payable quarterly.
The notes are callable at par on any coupon payment date other than the final one.
The payout at maturity will be par of $10 unless the stock finishes below its 70% trigger level, in which case investors will be fully exposed to any losses.
UBS Financial Services Inc. and RBC Capital Markets, LLC are the agents.
| Issuer: | Royal Bank of Canada
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| Issue: | Trigger callable yield notes
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| Underlying stock: | WestRock Co.
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| Amount: | $5.9 million
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| Maturity: | Nov. 19, 2020
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| Coupon: | 11.2%, payable quarterly
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| Price: | Par of $10
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| Call option: | At par on any coupon payment date other than the final one
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| Payout at maturity: | If stock finishes at or above trigger level, par; otherwise, full exposure to any losses
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| Initial level: | $40.50
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| Trigger level: | $28.35; 70% of initial level
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| Pricing date: | Nov. 15
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| Settlement date: | Nov. 20
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| Agents: | UBS Financial Services Inc. and RBC Capital Markets, LLC
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| Fees: | 1%
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| Cusip: | 78014J801
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