New Issue: RBC prices $3 million 8.85% callable notes with barrier tied to three stocks

By Susanna Moon

Chicago, Dec. 26 – Royal Bank of Canada priced $3 million of 8.85% issuer callable fixed coupon notes due March 15, 2019 linked to least performing of the common stocks of Amazon.com, Inc., Walt Disney Co. and Starbucks Corp., according to a 424B2 filing with the Securities and Exchange Commission.

Interest is payable quarterly.

The notes are callable at par on any coupon payment date.

The payout at maturity will be par unless any stock finishes below the 65% barrier level, in which case investors will be fully exposed to any losses of the worst performing.

RBC Capital Markets, LLC is the underwriter.

Issuer:	Royal Bank of Canada
Issue:	Issuer callable fixed coupon notes
Underlying stocks:	Amazon.com, Inc. (Symbol: AMZN), Walt Disney Co. (Symbol: DIS) and Starbucks Corp. (Symbol: SBUX)
Amount:	$3 million
Maturity:	March 15, 2019
Coupon:	8.85%, payable quarterly
Price:	Par
Payout at maturity:	Par unless any stock finishes below barrier, in which case par plus return of worst performing stock with full exposure to any losses
Call option:	At par on any coupon payment date
Initial levels:	$1,165.08 for Amazon, $107.43 for Disney and $59.27 for Starbucks
Barrier levels:	$757.30 for Amazon, $69.83 for Disney and $38.53 for Starbucks, 65% of initial levels
Pricing date:	Dec. 12
Settlement date:	Dec. 15
Agents:	RBC Capital Markets, LLC
Fees:	0.5%
Cusip:	78013XCJ5

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