By Kiku Steinfeld
Chicago, June 5 – Royal Bank of Canada priced $3.07 million of issuer callable contingent coupon barrier notes due June 3, 2022 linked to Walt Disney Co. stock, according to a 424B2 filing with the Securities and Exchange Commission.
The notes will pay a contingent quarterly coupon at an annual rate of 10% if the stock closes at or above its 65% coupon barrier on the observation date for that quarter.
The notes will be callable at par on any coupon payment date.
The payout at maturity will be par unless the stock finishes below the 65% trigger price, in which case investors will receive a number of shares equal to $1,000 divided by the initial share price.
RBC Capital Markets, LLC is the underwriter.
Issuer: | Royal Bank of Canada
|
Issue: | Issuer callable contingent coupon barrier notes
|
Underlying stock: | Walt Disney Co.
|
Amount: | $3,074,000
|
Maturity: | June 3, 2022
|
Coupon: | 10%, payable quarterly if stock closes at or above coupon barrier on observation date for that quarter
|
Price: | Par
|
Payout at maturity: | Par unless stock finishes below trigger level, in which case shares of stock equal to $1,000 divided by the initial share price
|
Call: | At par on any coupon payment date
|
Initial level: | $116.75
|
Coupon barrier/trigger price: | $75.89, 65% of initial level
|
Pricing date: | May 28
|
Settlement date: | June 2
|
Agents: | RBC Capital Markets, LLC
|
Fees: | 1%
|
Cusip: | 78013GVY8
|
|
© 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.