By Marisa Wong
Morgantown, W.Va., June 12 – Royal Bank of Canada priced $2.01 million of autocallable contingent coupon barrier notes due Dec. 5, 2017 linked to the common stock of Simon Property Group, Inc. and the SPDR S&P Biotech exchange-traded fund, according to a 424B2 filing with the Securities and Exchange Commission.
The notes will pay a contingent quarterly coupon at an annual rate of 14.5% if each underlying closes at or above the 80% coupon barrier on the observation date for that quarter.
The notes will be called at par if each underlying closes at or above its initial price on any quarterly observation date.
The payout at maturity will be par unless either underlying finishes below the 80% trigger level, in which case investors will be fully exposed to any losses of the worse performer.
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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| Underlyings: | Simon Property Group, Inc. (Symbol: SPG) and SPDR S&P Biotech ETF
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| Amount: | $2.1 million
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| Maturity: | Dec. 5, 2017
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| Coupon: | 14.5%, payable quarterly if each underlying closes at or above coupon barrier on observation date for that quarter
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| Price: | Par
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| Payout at maturity: | Par unless either underlying finishes below trigger price, in which case 1% loss for each 1% decline of worse performer
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| Call: | At par if each underlying closes at or above initial price on any quarterly observation date
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| Initial prices: | $154.98 for stock, $67.46 for ETF
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| Coupon barriers: | $123.98 for stock, $53.97 for ETF; 80% of initial price
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| Trigger prices: | $123.98 for stock, $53.97 for ETF; 80% of initial price
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| Pricing date: | May 30
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| Settlement date: | June 2
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| Agents: | RBC Capital Markets, LLC
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| Fees: | 1.75%
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| Cusip: | 78013GED3
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