Chicago, March 29 – Royal Bank of Canada priced $5.98 million of trigger autocallable contingent yield notes due March 2, 2022 linked to the Russell 2000 index, according to a 424B2 filing with the Securities and Exchange Commission.
Each month, the notes will pay a contingent coupon at the rate of 12.45% per year if the index closes at or above the coupon barrier, 80% of the initial level, on the observation date for that period.
The notes will be automatically called at par if the index closes at or above the initial level on any monthly observation date after three months.
If the notes are not called and the final level is greater than or equal to the downside threshold level, 80% of the initial level, the payout at maturity will be par. Otherwise, investors will lose 1% for every 1% that the final level is less than the initial level.
UBS Securities LLC and UBS Investment Bank are the agents.
| Issuer: | Royal Bank of Canada
|
| Issue: | Trigger autocallable contingent yield notes
|
| Underlying index: | Russell 2000 index
|
| Amount: | $5,975,000
|
| Maturity: | March 2, 2022
|
| Contingent coupon: | 12.45% annual rate, payable monthly if index closes at or above coupon barrier on related observation date
|
| Price: | Par
|
| Payout at maturity: | Par unless index finishes below downside threshold, in which case 1% loss for each 1% decline from initial level
|
| Call: | Automatically at par if index closes at or above initial level on any monthly observation date after three months
|
| Initial level: | 2,284.381
|
| Coupon barrier: | 1,827.505, 80% of initial level
|
| Downside threshold: | 1,827.505, 80% of initial level
|
| Pricing date: | Feb. 24
|
| Settlement date: | March 2
|
| Agents: | UBS Securities LLC and UBS Investment Bank
|
| Fees: | 1.25%
|
| Cusip: | 90276BRU9
|
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