By Sarah Lizee
Olympia, Wash., Feb. 12 – Royal Bank of Canada priced $492,000 of autocallable contingent coupon barrier notes due Feb. 2, 2023 linked to the least performing of the common stocks of Valero Energy Corp. and Exxon Mobil Corp., according to a 424B2 filing with the Securities and Exchange Commission.
The notes will pay a contingent quarterly coupon at an annual rate of 9.25% if each stock closes at or above its 65% coupon barrier on the observation date for that quarter.
The notes will be called at par plus the coupon if each stock closes above its initial price on any observation date after six months.
The payout at maturity will be par unless any stock finishes below its 65% trigger price, in which case investors will be fully exposed to any losses of the least-performing stock.
RBC Capital Markets, LLC is the agent.
| Issuer: | Royal Bank of Canada
|
| Issue: | Autocallable contingent coupon barrier notes
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| Underlying stocks: | Valero Energy Corp. and Exxon Mobil Corp.
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| Amount: | $492,000
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| Maturity: | Feb. 2, 2023
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| Coupon: | 9.25%, payable quarterly if each stock closes at or above coupon barrier on observation date for that quarter
|
| Price: | Par
|
| Payout at maturity: | Par unless any stock finishes below trigger price, in which case par plus return of the least-performing stock
|
| Call: | At par plus coupon if each stock closes above initial price on any observation date after six months
|
| Initial prices: | $86.46 for Valero, $64.11 for Exxon
|
| Coupon barrier/triggers: | $56.20 for Valero, $41.67 for Exxon; 65% of initial prices
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| Pricing date: | Jan. 29
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| Settlement date: | Jan. 31
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| Agent: | RBC Capital Markets, LLC
|
| Fees: | 2.25%
|
| Cusip: | 78015KRJ5
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