Published on 2/12/2020 in the Prospect News Structured Products Daily.
New Issue: RBC prices $1.77 million autocallable barrier notes on indexes
By Kiku Steinfeld
Chicago, Feb. 12 – Royal Bank of Canada priced $1.77 million of 0% autocallable barrier notes due Feb. 3, 2022 linked to the least performing of the Dow Jones industrial average, the Nasdaq-100 index and the Russell 2000 index, according to a 424B2 filing with the Securities and Exchange Commission.
The notes pay a contingent quarterly coupon at an annual rate of 6.16%if each index closes at or above its 70% coupon barrier on the observation date for that quarter.
The notes will be called at par plus the coupon year if each index closes at or above its initial level on any quarterly observation date.
If the notes are not called, the payout at maturity will be par plus the final coupon unless any index finishes below its 70% barrier level, in which case investors will lose 1% for each 1% decline of the least-performing index from its initial level.
RBC Capital Markets, LLC is the agent.
| Issuer: | Royal Bank of Canada
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| Issue: | Autocallable barrier notes
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| Underlying indexes: | Dow Jones industrial average, Nasdaq-100 and Russell 2000
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| Amount: | $1,768,000
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| Maturity: | Feb. 3, 2022
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| Coupon: | 6.16% yearly if each index closes at or above its coupon barrier on any quarterly observation date
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| Price: | Par
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| Payout at maturity: | Par plus final coupon unless any index finishes below barrier level, in which case investors will lose 1% for each 1% decline of least-performing index from its initial level
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| Call: | At par plus coupon if each index closes at or above initial level on any quarterly observation date
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| Initial index levels: | 28,734.45 for Dow, 9,101.613 for Nasdaq, 1,649.221 for Russell
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| Barriers: | 20,114.12 for Dow, 6,371.129 Nasdaq, 1,154.455 for Russell; 70% of initial levels
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| Pricing date: | Jan. 29
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| Settlement date: | Feb. 3
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| Agent: | RBC Capital Markets, LLC
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| Fees: | 0.65%
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| Cusip: | 78015KRW6
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