Published on 12/28/2019 in the Prospect News Structured Products Daily.
New Issue: RBC prices $430,000 contingent coupon barrier autocalls on AT&T, Verizon, Vodafone
By Kiku Steinfeld
Chicago, Dec. 28 – Royal Bank of Canada priced $430,000 of autocallable contingent coupon barrier notes due Dec. 16, 2022 linked to the lesser performing of AT&T Inc., Vodafone Group plc and Verizon Communications Inc., according to a 424B2 filing with the Securities and Exchange Commission.
The notes pay a quarterly contingent coupon at an annual rate of 8.5% if all three stocks finish above their 60% coupon barriers on the related observation date.
The notes will be automatically called at par plus the coupon if all stocks close above their initial prices on any observation date after six months.
The payout at maturity will be par plus the coupon if all stocks finish above their 60% trigger prices.
Otherwise, investors will be exposed to the losses of the worst performing stock.
RBC Capital Markets, LLC is the agent.
| Issuer: | Royal Bank of Canada
|
| Issue: | Autocallable contingent coupon barrier notes
|
| Underlying stocks: | AT&T Inc., Verizon Communications Inc., Vodafone Group plc
|
| Amount: | $430,000
|
| Maturity: | Dec. 16, 2022
|
| Coupon: | 8.5%, payable quarterly if all stocks finish above their 60% coupon barriers on related observation date
|
| Price: | Par
|
| Payout at maturity: | Par plus coupon if all stocks close above 60% trigger prices; otherwise full exposure to losses of worst performing stock
|
| Call: | Automatically at par plus coupon if all stocks close above initial levels on any quarterly observation date after six months
|
| Initial levels: | $38.26 for AT&T, £146.24 for Vodaphone and $60.81 for Verizon
|
| Trigger levels: | $22.96 for AT&T, £87.74 for Vodaphone and $36.49 for Verizon, 60% of initial levels
|
| Pricing date: | Dec. 13
|
| Settlement date: | Dec. 18
|
| Agent: | RBC Capital Markets, LLC
|
| Fees: | 2.25%
|
| Cusip: | 78015KDM3
|
|
|
|
|
© 2015 Prospect News.
All content on this website is protected by copyright law in the U.S. and elsewhere.
For the use of the person downloading only.
Redistribution and copying are prohibited by law without written permission in advance from Prospect News.
Redistribution or copying includes e-mailing, printing multiple copies or any other form of reproduction.
