By Sarah Lizee
Olympia, Wash., Dec. 26 – Royal Bank of Canada priced $532,000 of autocallable contingent coupon barrier notes due Dec. 27, 2021 linked to the lesser performing of the common stocks of Walt Disney Co. and NIKE, Inc., according to a 424B2 filing with the Securities and Exchange Commission.
The notes will pay a contingent quarterly coupon at an annual rate of 10.4% if each stock closes at or above its 70% coupon barrier on the observation date for that quarter.
The notes will be automatically called at par if each stock closes its initial price on any observation date beginning on June 21, 2019.
The payout at maturity will be par unless either stock finishes below its 70% trigger price, in which case investors will be fully exposed to any losses of the least-performing stock.
RBC Capital Markets, LLC is the agent.
| Issuer: | Royal Bank of Canada
|
| Issue: | Autocallable contingent coupon barrier notes
|
| Underlying stocks: | Walt Disney Co. and NIKE, Inc.
|
| Amount: | $532,000
|
| Maturity: | Dec. 27, 2021
|
| Coupon: | 10.4%, payable quarterly if each stock closes at or above coupon barrier on observation date for that quarter
|
| Price: | Par
|
| Payout at maturity: | Par unless either stock finishes below trigger price, in which case par plus return of the least-performing stock
|
| Call: | Automatically at par if each stock closes above initial price on any observation date after six months
|
| Initial prices: | $104.22 for Disney and $72.37 for NIKE
|
| Coupon barriers/trigger prices: | $72.95 for Disney and $50.66 for NIKE, 70% of initial prices
|
| Pricing date: | Dec. 21
|
| Settlement date: | Dec. 27
|
| Agent: | RBC Capital Markets, LLC
|
| Fees: | 2.25%
|
| Cusip: | 78013XU48
|
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