By Wendy Van Sickle
Columbus, Ohio, July 25 – Royal Bank of Canada priced $5.49 million of trigger autocallable contingent yield notes due July 26, 2019 linked to the SPDR S&P Oil & Gas Exploration & Production 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 8.25% if the ETF closes at or above its coupon barrier, 65% of its initial level, on the observation date for that quarter.
The notes will be called at par if the ETF closes at or above its initial level on any quarterly observation date after six months.
The payout at maturity will be par plus the contingent coupon, unless the ETF finishes below the 65% downside threshold, in which case investors will lose 1% for each 1% decline of the ETF.
UBS Financial Services Inc. and RBC Capital Markets, LLC are the agents.
| Issuer: | Royal Bank of Canada
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| Issue: | Trigger autocallable contingent yield notes
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| Underlying ETF: | SPDR S&P Oil & Gas Exploration & Production
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| Amount: | $5,487,500
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| Maturity: | July 26, 2019
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| Coupon: | 8.25%, payable quarterly if ETF closes at or above coupon barrier level on observation date
|
| Price: | Par of $10
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| Call: | After six months, at par plus contingent coupon if ETF closes at or above initial level on any quarterly observation date
|
| Payout at maturity: | Par unless ETF finishes below downside threshold level, in which case 1% loss for each 1% decline of ETF
|
| Initial level: | $31.65
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| Barrier/threshold: | $20.57, 65% of initial level
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| Pricing date: | July 21
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| Settlement date: | July 26
|
| Agents: | UBS Financial Services Inc. and RBC Capital Markets, LLC
|
| Fees: | 1.5%
|
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| Cusip: | 78013F164
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