Chicago, April 22 – Royal Bank of Canada priced $750,000 of autocallable contingent coupon barrier notes due Jan. 28, 2027 linked to the lesser performing of the Euro Stoxx Banks index and the Technology Select Sector SPDR fund, according to a 424B2 filing with the Securities and Exchange Commission.
The notes will pay a quarterly coupon at an annual rate of 15.75% if each asset closes at or above its coupon barrier level, 80% of its initial price, on the observation date for that quarter.
The notes will be called at par plus the coupon if each asset closes at or above its initial price on any quarterly observation date starting after six months.
The payout at maturity will be par plus the final coupon unless either asset finishes below the 80% trigger price, in which case investors will lose 1% for each 1% that the lesser-performing asset’s final level is less than its initial level.
RBC Capital Markets, LLC is the agent.
| Issuer: | Royal Bank of Canada
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| Issue: | Autocallable contingent coupon barrier notes
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| Underlying assets: | Euro Stoxx Banks index and the Technology Select Sector SPDR fund
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| Amount: | $750,000
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| Maturity: | Jan. 28, 2027
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| Coupon: | 15.75% annual rate, payable quarterly if each asset closes at or above coupon barrier level on observation date for that period
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| Price: | Par
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| Payout at maturity: | Par plus coupon unless either asset finishes below trigger price, in which case investors will lose 1% for each 1% that the lesser-performing asset’s final level is less than its initial level
|
| Call: | Automatically at par if each asset closes at or above its initial share price on any quarterly observation date starting after six months
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| Initial levels: | 120.30 for index, $203.25 for fund
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| Coupon barrier/trigger levels: | 96.24 for index, $162.60 for fund; 80% of initial levels
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| Pricing date: | Jan. 24
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| Settlement date: | Jan. 29
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| Agent: | RBC Capital Markets, LLC
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| Fees: | 1%
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| Cusip: | 78017FDU4
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