Published on 3/3/2017 in the Prospect News Structured Products Daily.
New Issue: RBC prices $145,000 contingent coupon autocallables linked to indexes
By Susanna Moon
Chicago, March 3 – Royal Bank of Canada priced $145,000 of autocallable contingent coupon barrier notes due Feb. 27, 2020 linked to the least performing of the S&P 500 index, the Russell 2000 index and the Nasdaq-100 index, according to a 424B2 filing with the Securities and Exchange Commission.
The notes will pay a contingent quarterly coupon at an annual rate of 7.25% if each index closes at or above the 75% trigger level on the observation date for that quarter.
The notes will be called at par if each index closes at or above its initial price on any quarterly observation date after one year.
The payout at maturity will be par unless any index finishes below the 75% trigger level, in which case investors will be fully exposed to any losses of the worst performing index.
RBC Capital Markets, LLC is the underwriter.
| Issuer: | Royal Bank of Canada
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| Issue: | Autocallable contingent coupon barrier notes
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| Underlying indexes: | S&P 500 index, Russell 2000 index and Nasdaq-100 index
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| Amount: | $145,000
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| Maturity: | Feb. 27, 2020
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| Coupon: | 7.25%, payable quarterly if each index closes at or above trigger level on observation date for that quarter
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| Price: | Par
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| Payout at maturity: | Par unless any index finishes below trigger level, in which case 1% loss for each 1% decline of worst performing stock
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| Call: | At par if each index closes at or above initial price on any quarterly observation date beginning Feb. 26, 2018
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| Initial levels: | 2,367.34 for S&P, 1,394.525 for Russell and 5,343.31 for Nasdaq
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| Trigger levels: | 1,775.51 for S&P, 1,045.894 for Russell and 4,007.48 for Nasdaq, 75% of initial levels
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| Pricing date: | Feb. 24
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| Settlement date: | Feb. 28
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| Agents: | RBC Capital Markets, LLC
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| Fees: | 2.25%
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| Cusip: | 78012KA98
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