By Kiku Steinfeld
Chicago, Oct. 25 – Royal Bank of Canada priced $1 million of 7.35% autocallable fixed-coupon barrier notes due Oct. 17, 2024 linked to the of the common stock of Freeport-McMoRan Inc., according to a 424B2 filing with the Securities and Exchange Commission.
Interest is payable monthly.
The notes will be called at par of $10,000 if the stock closes at or above its initial level on any quarterly observation date after one year.
The payout will be par unless the stock has finished below its 60% barrier level, in which case investors will be fully exposed to losses of the stock, payable in shares or, at the option of the issuer, in cash.
RBC Capital Markets, LLC is the agent.
| Issuer: | Royal Bank of Canada
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| Issue: | Autocallable fixed-coupon barrier notes
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| Underlying stocks: | Freeport-McMoRan Inc.
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| Amount: | $1 million
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| Maturity: | Oct. 17, 2024
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| Coupon: | 7.35% per year, payable monthly
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| Price: | Par of $10,000
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| Payout at maturity: | Par unless stock has finished below barrier level, in which case exposure to all losses, payable in 288.93 shares or cash at option of issuer
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| Call: | At par if stock closes at or above initial level on any quarterly observation date after one year
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| Initial stock level: | $34.61
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| Barrier level: | $20.77; 60% of initial level
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| Pricing date: | Oct. 12
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| Settlement date: | Oct. 15
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| Agent: | RBC Capital Markets, LLC
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| Fees: | 2%
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| Cusip: | 78013GZ73
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