Published on 7/7/2017 in the Prospect News Structured Products Daily.
New Issue: RBC sells $9.08 million 8.6% one-year airbag autocallables on Williams Cos.
By Wendy Van Sickle
Columbus, Ohio, July 7 – Royal Bank of Canada priced $9.08 million of 8.6% airbag autocallable yield notes due July 9, 2018 linked to Williams Cos., Inc. stock, according to a 424B2 filing with the Securities and Exchange Commission.
Interest is payable monthly.
The notes will be called at par if the shares close at or above the initial share price on any quarterly observation date.
The payout at maturity will be par unless the final share price is less than the 90% conversion price, in which case the payout will be a number of Williams Cos. shares equal to $1,000 divided by the conversion price.
UBS Financial Services Inc. and RBC Capital Markets, LLC are the agents.
| Issuer: | Royal Bank of Canada
|
| Issue: | Airbag autocallable yield notes
|
| Underlying stock: | Williams Cos., Inc.
|
| Amount: | $9,075,000
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| Maturity: | July 9, 2018
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| Coupon: | 8.6%, payable monthly
|
| Price: | Par
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| Payout at maturity: | Par unless final share price is less than conversion price, in which case 36.6972 Williams Cos. shares per $1,000 of notes
|
| Call: | At par if shares close at or above initial share price on any quarterly observation date
|
| Initial share price: | $30.28
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| Conversion price: | $27.25, 90% of initial share price
|
| Pricing date: | June 30
|
| Settlement date: | July 6
|
| Agents: | UBS Financial Services Inc. and RBC Capital Markets, LLC
|
| Fees: | 1.5%
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| Cusip: | 78014E885
|
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