By Susanna Moon
Chicago, Jan. 27 – Royal Bank of Canada priced $1 million of issuer callable contingent coupon barrier notes due Jan. 29, 2019 linked to Walt Disney Co. stock, according to a 424B2 filing with the Securities and Exchange Commission.
The notes pay a contingent quarterly coupon at an annual rate of 7.25% if the stock closes at or above the trigger level, 80% of the initial share price, on the observation date for that quarter.
The notes are callable at par on any interest payment date.
The payout at maturity will be par unless the stock finishes below its 80% trigger level, in which case investors will receive a number of Disney shares equal to $1,000 divided by the initial share price or, at the issuer’s option, the cash equivalent.
RBC Capital Markets, LLC is the underwriter.
| Issuer: | Royal Bank of Canada
|
| Issue: | Issuer callable contingent coupon barrier notes
|
| Underlying stock: | Walt Disney Co. (NYSE: DIS)
|
| Amount: | $1 million
|
| Maturity: | Jan. 29, 2019
|
| Coupon: | 7.25% per year, payable quarterly if stock closes at or above trigger level on observation date for that quarter
|
| Price: | Par
|
| Payout at maturity: | Par unless stock finishes below trigger level, in which case 9.2678 Disney shares
|
| Call option: | At par on any interest payment date
|
| Initial share price: | $107.90
|
| Trigger price: | $86.32, 80% of initial share price
|
| Pricing date: | Jan. 24
|
| Settlement date: | Jan. 27
|
| Underwriter: | RBC Capital Markets, LLC
|
| Fees: | 1%
|
| Cusip: | 78013GCB9
|
|
|
|
|
© 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.
