By Sarah Lizee
Olympia, Wash., Feb. 21 – Royal Bank of Canada priced $4.05 million of autocallable contingent coupon barrier notes due Feb. 17, 2022 linked to the least performing of the common stocks of Chevron Corp., Walt Disney Co. and U.S. Bancorp, according to a 424B2 filing with the Securities and Exchange Commission.
The notes will pay a quarterly coupon at an annual rate of 10.75% if all the stocks close at or above their coupon barriers, 70% of their initial prices, on the observation date for that quarter.
The notes will be called at par plus the coupon if each stock closes at or above its initial price on any quarterly call observation date.
The payout at maturity will be par plus the final coupon unless any stock finishes below its 70% trigger price, in which case investors will lose 1% for each 1% that the least-performing stock’s final price is less than its initial price.
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 stocks: | Chevron Corp., Walt Disney Co. and U.S. Bancorp
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| Amount: | $4.05 million
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| Maturity: | Feb. 17, 2022
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| Coupon: | 10.75%, payable quarterly if each stock 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 any stock finishes below trigger price, in which case par plus return of the least-performing stock
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| Call: | Automatically at par if each stock closes at or above initial price on any quarterly call observation date
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| Initial prices: | $110.08 for Chevron, $139.54 for Disney, $55.11 for U.S. Bancorp
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| Coupon barriers/trigger prices: | $77.06 for Chevron, $97.68 for Disney, $38.58 for U.S. Bancorp; 70% of initial prices
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| Pricing date: | Feb. 14
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| Settlement date: | Feb. 20
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| Agent: | RBC Capital Markets, LLC
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| Fees: | 2.25%
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| Cusip: | 78013GUS2
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