New Issue: RBC prices $790,000 9% issuer callable fixed-coupon barrier notes on Southwest

Chicago, July 5 – Royal Bank of Canada priced $790,000 of 9% issuer callable fixed-coupon barrier notes due Dec. 21, 2023 linked to the common stock of Southwest Airlines Co., according to a 424B2 filing with the Securities and Exchange Commission.

Interest is payable quarterly.

The notes are callable at par on any coupon payment date.

The payout will be par unless the stock closes below its 75% barrier level, in which case investors will lose 1% for each 1% decline of the stock from its initial level, payable in shares or cash at the issuer’s option.

RBC Capital Markets, LLC is the agent.

Issuer:	Royal Bank of Canada
Issue:	Issuer callable fixed-coupon barrier notes
Underlying stock:	Southwest Airlines Co.
Amount:	$790,000
Maturity:	Dec. 21, 2023
Coupon:	9% annual rate, payable quarterly
Price:	Par
Payout at maturity:	Par unless stock closes below its barrier level, in which case full exposure to losses, payable in shares or cash at issuer’s option
Call option:	At par on any quarterly coupon payment date
Initial level:	$39.53
Barrier level:	$29.65, 75% of initial level
Pricing date:	Dec. 16, 2021
Settlement date:	Dec. 21, 2021
Agent:	RBC Capital Markets, LLC
Fees:	1%
Cusip:	78013G3L7

© 2015 Prospect News.
All content on this website is protected by copyright law in the U.S. and elsewhere. For the use of the person downloading only.
Redistribution and copying are prohibited by law without written permission in advance from Prospect News.
Redistribution or copying includes e-mailing, printing multiple copies or any other form of reproduction.